KeyCorp Increases Chipotle Mexican Grill (NYSE:CMG) Price Target to $3,400.00

Chipotle Mexican Grill (NYSE:CMG) had its price objective raised by KeyCorp from $3,250.00 to $3,400.00 in a research report report published on Thursday morning, Benzinga reports. The brokerage currently has an overweight rating on the restaurant operator’s stock.

CMG has been the subject of several other research reports. Raymond James reissued an outperform rating and issued a $3,340.00 price target (up previously from $3,300.00) on shares of Chipotle Mexican Grill in a research note on Thursday. TD Cowen raised their price target on shares of Chipotle Mexican Grill from $3,400.00 to $3,500.00 and gave the stock a buy rating in a report on Thursday. Wedbush upped their price objective on shares of Chipotle Mexican Grill from $2,850.00 to $3,200.00 and gave the company a neutral rating in a research note on Thursday. Evercore ISI increased their price objective on shares of Chipotle Mexican Grill from $3,200.00 to $3,600.00 and gave the stock an outperform rating in a research report on Thursday. Finally, Morgan Stanley boosted their target price on shares of Chipotle Mexican Grill from $2,986.00 to $3,100.00 and gave the company an equal weight rating in a report on Thursday. Ten research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus price target of $3,137.12.

Chipotle Mexican Grill Trading Up 2.4 %

NYSE:CMG 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 1-year low of $1,768.64 and a 1-year high of $3,199.99. The stock has a market cap of $87.55 billion, a P/E ratio of 68.01, a price-to-earnings-growth ratio of 2.67 and a beta of 1.28.

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

Chipotle Mexican Grill (NYSE:CMG) last announced its quarterly earnings results on Wednesday, April 24th. The restaurant operator reported $13.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $11.63 by $1.74. The firm had revenue of $2.70 billion during the quarter, compared to analysts’ expectations of $2.67 billion. Chipotle Mexican Grill had a net margin of 12.70% and a return on equity of 43.74%. As a group, equities analysts forecast that Chipotle Mexican Grill will post 55.08 EPS for the current year.

Insider Buying and Selling

In related news, CEO Brian R. Niccol sold 1,996 shares of the firm’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $2,399.91, for a total transaction of $4,790,220.36. Following the completion of the sale, the chief executive officer now owns 22,447 shares in the company, valued at $53,870,779.77. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Brian R. Niccol sold 1,996 shares of the firm’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $2,399.91, for a total transaction of $4,790,220.36. Following the completion of the sale, the chief executive officer now owns 22,447 shares in the company, valued at approximately $53,870,779.77. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Christopher W. Brandt sold 3,149 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the insider now owns 8,563 shares in the company, valued at approximately $25,071,093.92. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 6,793 shares of company stock valued at $18,321,152. 0.96% of the stock is owned by insiders.

Institutional Investors Weigh In On Chipotle Mexican Grill

Institutional investors have recently added to or reduced their stakes in the business. Northwest Bancshares Inc. purchased a new position in shares of Chipotle Mexican Grill in the first quarter worth about $331,000. SlateStone Wealth LLC bought a new position in Chipotle Mexican Grill in the 1st quarter worth approximately $265,000. Mesirow Financial Investment Management Inc. purchased a new position in Chipotle Mexican Grill in the 1st quarter valued at approximately $230,000. Emerald Advisors LLC bought a new stake in Chipotle Mexican Grill during the 1st quarter valued at $872,000. Finally, Meridian Wealth Management LLC lifted its position in shares of Chipotle Mexican Grill by 4.0% during the first quarter. Meridian Wealth Management LLC now owns 234 shares of the restaurant operator’s stock worth $680,000 after acquiring an additional 9 shares in the last quarter. 91.31% of the stock is owned by hedge funds and other 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.