Evercore ISI Raises Chipotle Mexican Grill (NYSE:CMG) Price Target to $3,600.00

Chipotle Mexican Grill (NYSE:CMG) had its target price boosted by Evercore ISI from $3,200.00 to $3,600.00 in a report published on Thursday morning, Benzinga reports. They currently have an outperform rating on the restaurant operator’s stock.

A number of other equities research analysts also recently weighed in on the company. Truist Financial lifted their target price on Chipotle Mexican Grill from $2,700.00 to $2,920.00 and gave the stock a buy rating in a report on Wednesday, February 7th. Robert W. Baird boosted their target price on shares of Chipotle Mexican Grill from $3,250.00 to $3,500.00 and gave the company an outperform rating in a research report on Thursday. Stephens raised their price target on shares of Chipotle Mexican Grill from $3,010.00 to $3,050.00 and gave the stock an equal weight rating in a report on Thursday. Oppenheimer reiterated an outperform rating and set a $3,300.00 price objective (up previously from $2,825.00) on shares of Chipotle Mexican Grill in a report on Thursday. Finally, TD Cowen raised their target price on Chipotle Mexican Grill from $3,400.00 to $3,500.00 and gave the company a buy rating in a research note on Thursday. Ten equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus price target of $3,137.12.

Chipotle Mexican Grill Price Performance

Chipotle Mexican Grill stock opened at $3,186.97 on Thursday. The stock’s 50 day moving average is $2,822.95 and its 200 day moving average is $2,430.22. Chipotle Mexican Grill has a one year low of $1,768.64 and a one year high of $3,199.99. The firm has a market cap of $87.55 billion, a P/E ratio of 68.01, a P/E/G ratio of 2.67 and a beta of 1.28.

Chipotle Mexican Grill shares are going to split before the market opens on 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 posted its quarterly earnings data on Wednesday, April 24th. The restaurant operator reported $13.37 earnings per share for the quarter, topping the consensus estimate of $11.63 by $1.74. Chipotle Mexican Grill had a net margin of 12.70% and a return on equity of 43.74%. The company had revenue of $2.70 billion during the quarter, compared to analysts’ expectations of $2.67 billion. Equities analysts anticipate that Chipotle Mexican Grill will post 55.08 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

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

About Chipotle Mexican Grill

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.