Chipotle Mexican Grill (NYSE:CMG) had its price objective raised by Morgan Stanley from $658.00 to $700.00 in a report released on Thursday, 24/7 WallStreet reports. Morgan Stanley currently has an equal weight rating on the restaurant operator’s stock.
A number of other research firms also recently weighed in on CMG. Cowen raised their target price on shares of ServiceNow from $260.00 to $280.00 and gave the company an outperform rating in a research report on Thursday, April 25th. Piper Jaffray Companies set a $173.00 target price on shares of DexCom and gave the company a buy rating in a research report on Monday, July 15th. Wedbush began coverage on shares of Millendo Therapeutics in a research report on Thursday. They issued an outperform rating and a $24.00 target price for the company. Evercore ISI began coverage on shares of Mondelez International in a research report on Tuesday, June 11th. They issued an outperform rating and a $62.00 target price for the company. Finally, BTIG Research raised their target price on shares of ServiceNow to $295.00 and gave the company a buy rating in a research report on Thursday, April 25th. Seven analysts have rated the stock with a sell rating, thirteen have issued a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of Hold and an average target price of $658.48.
Shares of NYSE:CMG opened at $746.52 on Thursday. Chipotle Mexican Grill has a 12 month low of $383.20 and a 12 month high of $765.99. The company has a current ratio of 1.44, a quick ratio of 1.41 and a debt-to-equity ratio of 1.69. The stock’s fifty day moving average is $725.48. The firm has a market capitalization of $20.69 billion, a price-to-earnings ratio of 82.40, a price-to-earnings-growth ratio of 2.98 and a beta of 0.67.
Chipotle Mexican Grill (NYSE:CMG) last released its earnings results on Wednesday, April 24th. The restaurant operator reported $3.40 earnings per share for the quarter, beating analysts’ consensus estimates of $3.01 by $0.39. The business had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.27 billion. Chipotle Mexican Grill had a net margin of 4.08% and a return on equity of 19.78%. The firm’s revenue for the quarter was up 13.9% compared to the same quarter last year. During the same quarter last year, the firm earned $2.13 earnings per share. Equities analysts predict that Chipotle Mexican Grill will post 13.04 earnings per share for the current year.
In related news, CTO Curtis E. Garner sold 9,276 shares of Chipotle Mexican Grill stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $738.02, for a total transaction of $6,845,873.52. Following the completion of the sale, the chief technology officer now owns 15,780 shares of the company’s stock, valued at approximately $11,645,955.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Pershing Square Capital Manage sold 80,000 shares of Chipotle Mexican Grill stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $726.15, for a total transaction of $58,092,000.00. The disclosure for this sale can be found here. In the last three months, insiders sold 91,081 shares of company stock valued at $66,273,971. Insiders own 2.21% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. Bremer Bank National Association bought a new stake in shares of Chipotle Mexican Grill during the 1st quarter worth about $33,000. Horan Capital Advisors LLC. bought a new stake in shares of Chipotle Mexican Grill during the 1st quarter worth about $36,000. CWM LLC bought a new stake in shares of Chipotle Mexican Grill during the 1st quarter worth about $36,000. Motco bought a new stake in shares of Chipotle Mexican Grill during the 1st quarter worth about $47,000. Finally, Quadrant Capital Group LLC boosted its holdings in shares of Chipotle Mexican Grill by 1,780.0% during the 1st quarter. Quadrant Capital Group LLC now owns 94 shares of the restaurant operator’s stock worth $66,000 after buying an additional 89 shares during the period. 95.04% of the stock is owned by institutional investors and hedge funds.
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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