Chipotle Mexican Grill (NYSE:CMG) Rating Reiterated by Raymond James

Chipotle Mexican Grill (NYSE:CMG)‘s stock had its “outperform” rating restated by Raymond James in a research report issued to clients and investors on Thursday, Benzinga reports. They currently have a $3,340.00 price objective on the restaurant operator’s stock, up from their prior price objective of $3,300.00. Raymond James’ target price indicates a potential upside of 8.22% from the company’s current price.

CMG has been the topic of several other reports. Argus boosted their price objective on Chipotle Mexican Grill from $3,265.00 to $3,366.00 and gave the stock a “buy” rating in a research note on Thursday, April 4th. Sanford C. Bernstein boosted their target price on Chipotle Mexican Grill from $2,800.00 to $3,200.00 and gave the company an “outperform” rating in a research report on Tuesday, March 26th. Oppenheimer restated an “outperform” rating and set a $3,300.00 target price (up previously from $2,825.00) on shares of Chipotle Mexican Grill in a research report on Thursday. Deutsche Bank Aktiengesellschaft boosted their price target on Chipotle Mexican Grill from $3,100.00 to $3,300.00 and gave the company a “buy” rating in a report on Wednesday, March 20th. Finally, Jefferies Financial Group boosted their price target on Chipotle Mexican Grill from $2,350.00 to $2,700.00 and gave the company a “hold” rating in a report on Tuesday, April 16th. Eleven investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to data from MarketBeat, Chipotle Mexican Grill currently has an average rating of “Moderate Buy” and a consensus price target of $2,946.61.

Chipotle Mexican Grill Stock Performance

Shares of Chipotle Mexican Grill stock traded up $159.50 during trading hours on Thursday, hitting $3,086.26. The company’s stock had a trading volume of 332,010 shares, compared to its average volume of 236,753. The business has a 50 day moving average price of $2,801.11 and a two-hundred day moving average price of $2,411.76. Chipotle Mexican Grill has a 12-month low of $1,768.64 and a 12-month high of $3,091.50. The company has a market cap of $84.63 billion, a PE ratio of 68.83, a PEG ratio of 2.47 and a beta of 1.28.

Shares of Chipotle Mexican Grill are going to split on the morning of Wednesday, June 26th. The 50-1 split was announced on Tuesday, March 19th. The newly minted shares will be issued to shareholders after the closing bell on Tuesday, June 25th.

Chipotle Mexican Grill (NYSE:CMG) last issued its earnings results on Wednesday, April 24th. The restaurant operator reported $13.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $11.63 by $1.74. Chipotle Mexican Grill had a return on equity of 44.41% and a net margin of 12.45%. The firm had revenue of $2.70 billion for the quarter, compared to analysts’ expectations of $2.67 billion. As a group, research analysts anticipate that Chipotle Mexican Grill will post 53.49 earnings per share for the current year.

Insider Activity at Chipotle Mexican Grill

In other Chipotle Mexican Grill news, insider Christopher W. Brandt sold 3,149 shares of the stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $2,927.84, for a total transaction of $9,219,768.16. Following the sale, the insider now directly owns 8,563 shares of the company’s stock, valued at approximately $25,071,093.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Chipotle Mexican Grill news, Director Albert S. Baldocchi sold 750 shares of the stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $2,608.51, for a total transaction of $1,956,382.50. Following the sale, the director now directly owns 37,271 shares of the company’s stock, valued at approximately $97,221,776.21. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Christopher W. Brandt sold 3,149 shares of the stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $2,927.84, for a total transaction of $9,219,768.16. Following the sale, the insider now directly owns 8,563 shares in the company, valued at $25,071,093.92. The disclosure for this sale can be found here. Insiders have sold a total of 6,793 shares of company stock valued at $18,321,152 in the last ninety days. Company insiders own 0.96% of the company’s stock.

Institutional Investors Weigh In On Chipotle Mexican Grill

Several hedge funds have recently modified their holdings of CMG. Steph & Co. purchased a new stake in shares of Chipotle Mexican Grill during the 1st quarter worth about $29,000. Fortitude Family Office LLC purchased a new position in Chipotle Mexican Grill in the 4th quarter valued at about $32,000. Turtle Creek Wealth Advisors LLC purchased a new position in Chipotle Mexican Grill in the 4th quarter valued at about $37,000. ICA Group Wealth Management LLC purchased a new position in Chipotle Mexican Grill in the 4th quarter valued at about $37,000. Finally, Annis Gardner Whiting Capital Advisors LLC purchased a new position in Chipotle Mexican Grill in the 3rd quarter valued at about $38,000. 91.31% of the stock is owned by hedge funds and other institutional investors.

Chipotle Mexican Grill Company Profile

Chipotle Mexican Grill, Inc, together with its subsidiaries, owns and operates Chipotle Mexican Grill restaurants. It sells food and beverages through offering burritos, burrito bowls, quesadillas, tacos, and salads. The company also provides delivery and related services its app and website. It has operations in the United States, Canada, France, Germany, and the United Kingdom.