Raymond James Reaffirms "Outperform" Rating for Chipotle Mexican Grill (NYSE:CMG)

Chipotle Mexican Grill (NYSE:CMG - Get Free Report)'s stock had its "outperform" rating restated by equities research analysts at Raymond James in a research note issued on Thursday, Benzinga reports. They presently have a $3,340.00 price target on the restaurant operator's stock, up from their previous price target of $3,300.00. Raymond James' price target would suggest a potential upside of 7.19% from the company's previous close.

A number of other brokerages have also recently commented on CMG. Sanford C. Bernstein increased their target price on Chipotle Mexican Grill from $2,800.00 to $3,200.00 and gave the company an "outperform" rating in a report on Tuesday, March 26th. Piper Sandler raised their target price on shares of Chipotle Mexican Grill from $2,442.00 to $3,070.00 and gave the stock a "neutral" rating in a research report on Thursday. Barclays lifted their price target on shares of Chipotle Mexican Grill from $2,246.00 to $2,400.00 and gave the company an "equal weight" rating in a report on Wednesday, February 7th. Wells Fargo & Company lifted their price target on shares of Chipotle Mexican Grill from $3,285.00 to $3,300.00 and gave the company an "overweight" rating in a report on Thursday. Finally, TD Cowen lifted their target price on shares of Chipotle Mexican Grill from $3,400.00 to $3,500.00 and gave the company a "buy" rating in a report on Thursday. Eleven investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $3,057.29.

Chipotle Mexican Grill Stock Up 6.5 %

CMG traded up $189.26 on Thursday, reaching $3,116.02. The company had a trading volume of 688,043 shares, compared to its average volume of 241,420. Chipotle Mexican Grill has a 1 year low of $1,768.64 and a 1 year high of $3,145.69. The stock has a market capitalization of $85.44 billion, a PE ratio of 70.72, a P/E/G ratio of 2.47 and a beta of 1.28. The stock has a 50-day moving average price of $2,801.11 and a 200-day moving average price of $2,411.76.

Chipotle Mexican Grill shares are set to split 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 market closes on Tuesday, June 25th.

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) last released its quarterly earnings data on Wednesday, April 24th. The restaurant operator reported $13.37 EPS for the quarter, topping analysts' consensus estimates of $11.63 by $1.74. The firm had revenue of $2.70 billion for the quarter, compared to the consensus estimate of $2.67 billion. Chipotle Mexican Grill had a net margin of 12.45% and a return on equity of 44.41%. As a group, analysts expect that Chipotle Mexican Grill will post 53.49 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Chipotle Mexican Grill news, insider Roger E. Theodoredis sold 898 shares of the company's stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $2,622.25, for a total value of $2,354,780.50. Following the sale, the insider now owns 1,529 shares in the company, valued at $4,009,420.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Chipotle Mexican Grill news, insider Roger E. Theodoredis sold 898 shares of the stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $2,622.25, for a total transaction of $2,354,780.50. Following the transaction, the insider now owns 1,529 shares in the company, valued at approximately $4,009,420.25. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Brian R. Niccol sold 1,996 shares of Chipotle Mexican Grill 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 of the company's stock, valued at $53,870,779.77. The disclosure for this sale can be found here. Over the last three months, insiders have sold 6,793 shares of company stock valued at $18,321,152. 0.96% of the stock is currently owned by corporate insiders.

Institutional Trading of Chipotle Mexican Grill

A number of institutional investors have recently bought and sold shares of the company. Byrne Asset Management LLC raised its holdings in shares of Chipotle Mexican Grill by 11.8% in the 1st quarter. Byrne Asset Management LLC now owns 38 shares of the restaurant operator's stock worth $110,000 after acquiring an additional 4 shares during the last quarter. Evermay Wealth Management LLC boosted its position in shares of Chipotle Mexican Grill by 1.8% during the fourth quarter. Evermay Wealth Management LLC now owns 231 shares of the restaurant operator's stock valued at $528,000 after buying an additional 4 shares during the last quarter. Peloton Wealth Strategists grew its holdings in Chipotle Mexican Grill by 0.3% during the fourth quarter. Peloton Wealth Strategists now owns 1,451 shares of the restaurant operator's stock worth $3,318,000 after buying an additional 4 shares in the last quarter. Diversified Trust Co lifted its stake in Chipotle Mexican Grill by 0.9% during the 1st quarter. Diversified Trust Co now owns 474 shares of the restaurant operator's stock valued at $1,378,000 after acquiring an additional 4 shares in the last quarter. Finally, Valley National Advisers Inc. lifted its stake in Chipotle Mexican Grill by 9.8% during the 1st quarter. Valley National Advisers Inc. now owns 45 shares of the restaurant operator's stock valued at $131,000 after acquiring an additional 4 shares in the last quarter. Institutional investors own 91.31% of the company's stock.

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.