Stephens Boosts Chipotle Mexican Grill (NYSE:CMG) Price Target to $1,850.00

Chipotle Mexican Grill (NYSE:CMG) had its price objective hoisted by Stephens from $1,700.00 to $1,850.00 in a research report report published on Wednesday morning, Price Targets.com reports. They currently have an overweight rating on the restaurant operator’s stock.

CMG has been the topic of several other reports. Wells Fargo & Company boosted their target price on Chipotle Mexican Grill from $1,780.00 to $1,800.00 and gave the stock an overweight rating in a report on Wednesday. JPMorgan Chase & Co. boosted their price target on Chipotle Mexican Grill from $1,350.00 to $1,460.00 and gave the stock a neutral rating in a research note on Monday, April 12th. They noted that the move was a valuation call. Cowen boosted their price target on Chipotle Mexican Grill from $1,850.00 to $2,080.00 and gave the stock an outperform rating in a research note on Wednesday. BTIG Research boosted their price target on Chipotle Mexican Grill from $1,600.00 to $1,725.00 and gave the stock a buy rating in a research note on Thursday, April 22nd. Finally, BMO Capital Markets boosted their price target on Chipotle Mexican Grill from $1,415.00 to $1,460.00 and gave the stock a market perform rating in a research note on Thursday, April 22nd. Eight analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus price target of $1,719.29.

Chipotle Mexican Grill stock opened at $1,755.99 on Wednesday. The business has a fifty day moving average of $1,445.33. Chipotle Mexican Grill has a 12 month low of $1,094.93 and a 12 month high of $1,778.29. The company has a market capitalization of $49.43 billion, a P/E ratio of 78.48, a price-to-earnings-growth ratio of 3.47 and a beta of 1.35.

Chipotle Mexican Grill (NYSE:CMG) last released its earnings results on Monday, July 19th. The restaurant operator reported $7.46 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $6.52 by $0.94. Chipotle Mexican Grill had a return on equity of 28.98% and a net margin of 8.57%. The business had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.88 billion. During the same period in the previous year, the company posted $0.40 earnings per share. The company’s revenue for the quarter was up 38.7% compared to the same quarter last year. As a group, equities analysts expect that Chipotle Mexican Grill will post 24.54 earnings per share for the current fiscal year.

In other news, insider Scott Boatwright sold 1,607 shares of the company’s stock in a transaction dated Monday, July 12th. The stock was sold at an average price of $1,600.00, for a total value of $2,571,200.00. Following the completion of the transaction, the insider now owns 11,873 shares of the company’s stock, valued at $18,996,800. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Brian R. Niccol sold 7,798 shares of the company’s stock in a transaction dated Monday, July 12th. The stock was sold at an average price of $1,608.22, for a total value of $12,540,899.56. Following the completion of the transaction, the chief executive officer now directly owns 37,524 shares of the company’s stock, valued at approximately $60,346,847.28. The disclosure for this sale can be found here. In the last 90 days, insiders sold 12,309 shares of company stock valued at $19,365,245. Company insiders own 1.00% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Hancock Whitney Corp bought a new position in shares of Chipotle Mexican Grill in the first quarter worth about $1,580,000. NFJ Investment Group LLC bought a new position in Chipotle Mexican Grill during the first quarter valued at approximately $4,616,000. Janney Montgomery Scott LLC boosted its stake in Chipotle Mexican Grill by 8.8% during the first quarter. Janney Montgomery Scott LLC now owns 11,149 shares of the restaurant operator’s stock valued at $15,841,000 after buying an additional 906 shares during the last quarter. Jag Capital Management LLC boosted its stake in Chipotle Mexican Grill by 238.1% during the first quarter. Jag Capital Management LLC now owns 14,408 shares of the restaurant operator’s stock valued at $20,472,000 after buying an additional 10,147 shares during the last quarter. Finally, Daiwa Securities Group Inc. boosted its stake in Chipotle Mexican Grill by 6.0% during the first quarter. Daiwa Securities Group Inc. now owns 1,448 shares of the restaurant operator’s stock valued at $2,057,000 after buying an additional 82 shares during the last quarter. 89.19% 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. As of December 31, 2020, it owned and operated 2,724 Chipotle restaurants in the United States, 40 international Chipotle restaurants, and 4 non-Chipotle restaurants. The company was founded in 1993 and is headquartered in Newport Beach, California.

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Analyst Recommendations for Chipotle Mexican Grill (NYSE:CMG)

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