Chipotle Mexican Grill (NYSE:CMG) received a $340.00 price objective from analysts at Bank of America in a report issued on Friday. The firm currently has a “sell” rating on the restaurant operator’s stock. Bank of America’s price target indicates a potential downside of 22.44% from the stock’s current price.
Other equities research analysts have also issued research reports about the company. Zacks Investment Research raised Chipotle Mexican Grill from a “hold” rating to a “buy” rating and set a $512.00 price target for the company in a research note on Monday, July 16th. Canaccord Genuity lifted their price target on Chipotle Mexican Grill from $500.00 to $550.00 and gave the stock a “buy” rating in a research note on Friday, July 27th. SunTrust Banks lifted their price target on Chipotle Mexican Grill to $490.00 and gave the stock a “buy” rating in a research note on Friday, June 29th. ValuEngine raised Chipotle Mexican Grill from a “hold” rating to a “buy” rating in a research note on Tuesday, July 10th. Finally, Robert W. Baird reaffirmed a “buy” rating and set a $535.00 price target on shares of Chipotle Mexican Grill in a research note on Friday, July 27th. Nine research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and fifteen have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $433.16.
CMG stock traded up $14.50 during mid-day trading on Friday, hitting $438.38. 1,631,895 shares of the stock were exchanged, compared to its average volume of 773,979. Chipotle Mexican Grill has a 12 month low of $247.51 and a 12 month high of $530.68. The firm has a market cap of $12.19 billion, a P/E ratio of 51.57, a price-to-earnings-growth ratio of 2.89 and a beta of 0.44.
In related news, Director Pershing Square Capital Manage sold 823,357 shares of the business’s stock in a transaction dated Tuesday, August 28th. The stock was sold at an average price of $487.29, for a total transaction of $401,213,632.53. The sale was disclosed in a filing with the SEC, which is accessible through this link. 2.19% of the stock is owned by insiders.
Large investors have recently made changes to their positions in the stock. Canada Pension Plan Investment Board increased its holdings in Chipotle Mexican Grill by 636.4% during the 2nd quarter. Canada Pension Plan Investment Board now owns 243 shares of the restaurant operator’s stock valued at $105,000 after purchasing an additional 210 shares during the period. Cornerstone Wealth Management LLC increased its holdings in Chipotle Mexican Grill by 17.1% during the 3rd quarter. Cornerstone Wealth Management LLC now owns 35,254 shares of the restaurant operator’s stock valued at $116,000 after purchasing an additional 5,142 shares during the period. Piedmont Investment Advisors LLC purchased a new position in Chipotle Mexican Grill during the 2nd quarter valued at about $119,000. Dupont Capital Management Corp purchased a new position in Chipotle Mexican Grill during the 2nd quarter valued at about $123,000. Finally, Bessemer Group Inc. purchased a new position in Chipotle Mexican Grill during the 2nd quarter valued at about $184,000. Institutional investors own 88.23% 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, 2017, it operated 2,363 Chipotle restaurants throughout the United States, as well as 37 international Chipotle restaurants; and 8 non-Chipotle restaurants. The company was founded in 1993 and is based in Denver, Colorado.
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