Piper Jaffray Companies Boosts Chipotle Mexican Grill (NYSE:CMG) Price Target to $900.00

Chipotle Mexican Grill (NYSE:CMG) had its price target hoisted by Piper Jaffray Companies from $824.00 to $900.00 in a research note published on Wednesday, The Fly reports. They currently have an overweight rating on the restaurant operator’s stock.

Several other research firms also recently weighed in on CMG. Argus boosted their price target on shares of Chipotle Mexican Grill from $770.00 to $840.00 in a research note on Thursday, April 25th. Loop Capital boosted their price target on shares of Chipotle Mexican Grill to $860.00 and gave the stock a buy rating in a research note on Wednesday, July 24th. BTIG Research boosted their price target on shares of Chipotle Mexican Grill from $790.00 to $845.00 and gave the stock a buy rating in a research note on Wednesday, July 24th. They noted that the move was a valuation call. BMO Capital Markets boosted their price target on shares of Chipotle Mexican Grill from $620.00 to $640.00 and gave the stock an underperform rating in a research note on Wednesday, July 24th. Finally, Evercore ISI started coverage on shares of Chipotle Mexican Grill in a research note on Tuesday, June 11th. They issued an outperform rating and a $825.00 price target for the company. Seven research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and fifteen have given a buy rating to the company. Chipotle Mexican Grill presently has an average rating of Hold and a consensus price target of $700.26.

NYSE CMG opened at $792.21 on Wednesday. Chipotle Mexican Grill has a 52-week low of $383.20 and a 52-week high of $811.95. The company has a debt-to-equity ratio of 1.65, a current ratio of 1.52 and a quick ratio of 1.48. The company has a market cap of $22.05 billion, a P/E ratio of 87.44, a P/E/G ratio of 3.21 and a beta of 0.72. The stock’s fifty day moving average is $748.41.

Chipotle Mexican Grill (NYSE:CMG) last posted its quarterly earnings data on Tuesday, July 23rd. The restaurant operator reported $3.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.68 by $0.31. Chipotle Mexican Grill had a net margin of 4.80% and a return on equity of 21.50%. The company had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.41 billion. During the same period in the previous year, the firm posted $2.87 EPS. The firm’s revenue was up 13.2% compared to the same quarter last year. As a group, sell-side analysts predict that Chipotle Mexican Grill will post 13.2 earnings per share for the current fiscal year.

In other Chipotle Mexican Grill news, Director Albert S. Baldocchi sold 1,164 shares of the company’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $775.00, for a total value of $902,100.00. Following the sale, the director now owns 72,756 shares in the company, valued at $56,385,900. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Scott Boatwright sold 1,805 shares of the company’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $740.22, for a total transaction of $1,336,097.10. Following the completion of the sale, the insider now owns 8,869 shares in the company, valued at approximately $6,565,011.18. The disclosure for this sale can be found here. In the last 90 days, insiders sold 156,156 shares of company stock worth $118,298,966. Corporate insiders own 2.21% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in CMG. Geode Capital Management LLC grew its holdings in Chipotle Mexican Grill by 9.6% in the fourth quarter. Geode Capital Management LLC now owns 309,980 shares of the restaurant operator’s stock worth $133,605,000 after purchasing an additional 27,247 shares during the period. MML Investors Services LLC lifted its stake in shares of Chipotle Mexican Grill by 11.4% in the fourth quarter. MML Investors Services LLC now owns 843 shares of the restaurant operator’s stock worth $364,000 after buying an additional 86 shares in the last quarter. Municipal Employees Retirement System of Michigan bought a new position in shares of Chipotle Mexican Grill in the fourth quarter worth approximately $281,000. APG Asset Management N.V. bought a new position in shares of Chipotle Mexican Grill in the fourth quarter worth approximately $1,246,000. Finally, Nordea Investment Management AB lifted its stake in shares of Chipotle Mexican Grill by 5.4% in the fourth quarter. Nordea Investment Management AB now owns 1,676 shares of the restaurant operator’s stock worth $724,000 after buying an additional 86 shares in the last quarter. Institutional investors and hedge funds own 94.99% 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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