Chipotle Mexican Grill (NYSE:CMG) had its price objective increased by BMO Capital Markets from $540.00 to $675.00 in a research report sent to investors on Thursday morning, BenzingaRatingsTable reports. BMO Capital Markets currently has a market perform rating on the restaurant operator’s stock.
A number of other research firms have also recently commented on CMG. Jefferies Financial Group cut shares of Chipotle Mexican Grill from a buy rating to a hold rating and increased their price target for the company from $600.00 to $700.00 in a report on Thursday, April 11th. Wells Fargo & Co increased their price target on shares of Chipotle Mexican Grill from $489.00 to $647.00 and gave the company a market perform rating in a report on Tuesday, April 16th. Piper Jaffray Companies increased their price target on shares of Chipotle Mexican Grill from $725.00 to $755.00 and gave the company an overweight rating in a report on Wednesday, April 10th. SunTrust Banks increased their price target on shares of Chipotle Mexican Grill to $780.00 and gave the company a buy rating in a report on Thursday. Finally, BTIG Research increased their price target on shares of Chipotle Mexican Grill from $700.00 to $790.00 and gave the company a buy rating in a report on Thursday. Six research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of Hold and an average target price of $626.29.
Shares of NYSE CMG opened at $676.79 on Thursday. Chipotle Mexican Grill has a fifty-two week low of $383.20 and a fifty-two week high of $721.21. The company has a market cap of $18.76 billion, a price-to-earnings ratio of 74.70, a price-to-earnings-growth ratio of 3.00 and a beta of 0.68.
Chipotle Mexican Grill (NYSE:CMG) last announced its earnings results on Wednesday, April 24th. The restaurant operator reported $3.40 earnings per share for the quarter, beating the Zacks’ consensus estimate of $3.01 by $0.39. Chipotle Mexican Grill had a net margin of 4.08% and a return on equity of 19.78%. The business had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.27 billion. During the same quarter last year, the firm earned $2.13 earnings per share. The business’s revenue for the quarter was up 13.9% on a year-over-year basis. On average, equities research analysts expect that Chipotle Mexican Grill will post 12.9 EPS for the current fiscal year.
In other Chipotle Mexican Grill news, CFO Jack Hartung sold 7,150 shares of the stock in a transaction that occurred on Tuesday, February 12th. The shares were sold at an average price of $606.77, for a total value of $4,338,405.50. Following the transaction, the chief financial officer now directly owns 45,237 shares in the company, valued at $27,448,454.49. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Pershing Square Capital Manage sold 20,000 shares of the stock in a transaction that occurred on Tuesday, February 12th. The stock was sold at an average price of $594.65, for a total transaction of $11,893,000.00. The disclosure for this sale can be found here. Insiders sold 51,788 shares of company stock worth $31,629,459 in the last 90 days. 2.21% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in CMG. Horan Capital Advisors LLC. bought a new position in Chipotle Mexican Grill in the first quarter worth approximately $36,000. CWM LLC bought a new position in Chipotle Mexican Grill in the first quarter worth approximately $36,000. Bruderman Asset Management LLC bought a new position in Chipotle Mexican Grill in the fourth quarter worth approximately $39,000. Captrust Financial Advisors raised its position in Chipotle Mexican Grill by 44.0% in the fourth quarter. Captrust Financial Advisors now owns 167 shares of the restaurant operator’s stock worth $72,000 after acquiring an additional 51 shares during the period. Finally, Huntington National Bank raised its position in Chipotle Mexican Grill by 19.9% in the fourth quarter. Huntington National Bank now owns 169 shares of the restaurant operator’s stock worth $73,000 after acquiring an additional 28 shares during the period. Institutional investors and hedge funds own 93.07% of the company’s stock.
About Chipotle Mexican Grill
Chipotle Mexican Grill, Inc, together with its subsidiaries, operates Chipotle Mexican Grill restaurants. As of December 31, 2018, it operated 2,491 restaurants, including 2,452 Chipotle restaurants in the United States, 37 Chipotle restaurants internationally, and two non-Chipotle restaurants. The company was founded in 1993 and is headquartered in Newport Beach, California.
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