Maxim Group Boosts Chipotle Mexican Grill (CMG) Price Target to $620.00

Chipotle Mexican Grill (NYSE:CMG) had its target price boosted by Maxim Group from $540.00 to $620.00 in a research report sent to investors on Wednesday, Briefing.com Automated Import reports. The firm currently has a hold rating on the restaurant operator’s stock.

CMG has been the subject of a number of other research reports. Zacks Investment Research upgraded Chipotle Mexican Grill from a hold rating to a buy rating and set a $589.00 price objective for the company in a research report on Friday, February 8th. Wedbush reiterated an underperform rating on shares of Chipotle Mexican Grill in a research report on Thursday, December 20th. Piper Jaffray Companies increased their price objective on Chipotle Mexican Grill from $590.00 to $661.00 and gave the company an overweight rating in a research report on Tuesday, February 12th. BTIG Research increased their price objective on Chipotle Mexican Grill to $620.00 and gave the company a positive rating in a research report on Thursday, February 7th. Finally, KeyCorp reiterated an overweight rating and set a $525.00 price objective (up previously from $500.00) on shares of Chipotle Mexican Grill in a research report on Tuesday, January 8th. Seven analysts have rated the stock with a sell rating, sixteen have given a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of Hold and an average target price of $570.70.

Shares of NYSE:CMG opened at $700.00 on Wednesday. Chipotle Mexican Grill has a one year low of $326.00 and a one year high of $721.21. The firm has a market cap of $19.41 billion, a PE ratio of 78.83, a P/E/G ratio of 3.17 and a beta of 0.68.

Chipotle Mexican Grill (NYSE:CMG) last announced its quarterly earnings data on Wednesday, February 6th. The restaurant operator reported $1.72 EPS for the quarter, beating analysts’ consensus estimates of $1.38 by $0.34. Chipotle Mexican Grill had a return on equity of 17.64% and a net margin of 3.63%. The company had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.20 billion. During the same quarter in the prior year, the firm earned $1.34 EPS. The company’s quarterly revenue was up 10.4% compared to the same quarter last year. Sell-side analysts forecast that Chipotle Mexican Grill will post 12.51 earnings per share for the current fiscal year.

In other news, Director Pershing Square Capital Manage sold 20,000 shares of the company’s stock in a transaction on Tuesday, February 12th. The shares were sold at an average price of $594.65, for a total value of $11,893,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Jack Hartung sold 7,150 shares of the company’s stock in a transaction on Tuesday, February 12th. The stock was sold at an average price of $606.77, for a total transaction of $4,338,405.50. Following the completion of the transaction, the chief financial officer now directly owns 45,237 shares in the company, valued at $27,448,454.49. The disclosure for this sale can be found here. Over the last three months, insiders have sold 51,788 shares of company stock worth $31,629,459. Company insiders own 2.21% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of CMG. Dimensional Fund Advisors LP increased its stake in shares of Chipotle Mexican Grill by 15.4% in the third quarter. Dimensional Fund Advisors LP now owns 95,724 shares of the restaurant operator’s stock worth $43,517,000 after acquiring an additional 12,767 shares during the last quarter. Franklin Resources Inc. increased its stake in shares of Chipotle Mexican Grill by 165.7% in the third quarter. Franklin Resources Inc. now owns 1,326 shares of the restaurant operator’s stock worth $603,000 after acquiring an additional 827 shares during the last quarter. GSA Capital Partners LLP acquired a new position in shares of Chipotle Mexican Grill in the third quarter worth $300,000. Pacer Advisors Inc. increased its stake in shares of Chipotle Mexican Grill by 34.9% in the third quarter. Pacer Advisors Inc. now owns 1,554 shares of the restaurant operator’s stock worth $706,000 after acquiring an additional 402 shares during the last quarter. Finally, Vident Investment Advisory LLC increased its stake in shares of Chipotle Mexican Grill by 53.6% in the third quarter. Vident Investment Advisory LLC now owns 3,374 shares of the restaurant operator’s stock worth $1,533,000 after acquiring an additional 1,177 shares during the last quarter. 93.07% of the stock is currently owned by institutional investors and hedge funds.

Chipotle Mexican Grill Company Profile

Chipotle Mexican Grill, Inc, together with its subsidiaries, operates Chipotle Mexican Grill restaurants. As of December 31, 2018, it operated 2,491 restaurants, including 2,452 Chipotle restaurants in the United States, 37 Chipotle restaurants internationally, and two non-Chipotle restaurants. The company was founded in 1993 and is headquartered in Newport Beach, California.

Featured Story: Book Value Per Share – BVPS

Analyst Recommendations for Chipotle Mexican Grill (NYSE:CMG)

Receive News & Ratings for Chipotle Mexican Grill Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chipotle Mexican Grill and related companies with MarketBeat.com's FREE daily email newsletter.