Chipotle Mexican Grill (CMG) Given New $797.00 Price Target at Citigroup

Chipotle Mexican Grill (NYSE:CMG) had its target price lifted by Citigroup from $695.00 to $797.00 in a report issued on Tuesday, BenzingaRatingsTable reports. The brokerage currently has a buy rating on the restaurant operator’s stock.

CMG has been the subject of several other research reports. Zacks Investment Research lowered shares of Chipotle Mexican Grill from a hold rating to a sell rating in a research report on Thursday, January 3rd. Telsey Advisory Group reaffirmed an outperform rating and set a $700.00 price target (up previously from $600.00) on shares of Chipotle Mexican Grill in a research report on Thursday, April 18th. Wells Fargo & Co upped their price target on shares of Chipotle Mexican Grill from $420.00 to $464.00 and gave the stock a market perform rating in a research report on Friday, January 11th. Loop Capital upped their price target on shares of Chipotle Mexican Grill to $630.00 and gave the stock a positive rating in a research report on Thursday, February 7th. Finally, Wedbush raised shares of Chipotle Mexican Grill from an underperform rating to a neutral rating and upped their price target for the stock from $500.00 to $640.00 in a research report on Friday, March 22nd. Six investment analysts have rated the stock with a sell rating, fifteen have given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus target price of $635.93.

Shares of CMG stock opened at $709.52 on Tuesday. Chipotle Mexican Grill has a one year low of $383.20 and a one year high of $721.21. The company has a market cap of $19.66 billion, a P/E ratio of 78.31, a P/E/G ratio of 2.76 and a beta of 0.64.

Chipotle Mexican Grill (NYSE:CMG) last issued its quarterly earnings results on Wednesday, April 24th. The restaurant operator reported $3.40 EPS for the quarter, topping the consensus estimate of $3.01 by $0.39. Chipotle Mexican Grill had a net margin of 4.08% and a return on equity of 19.78%. The firm had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.27 billion. During the same quarter in the prior year, the business posted $2.13 earnings per share. Chipotle Mexican Grill’s revenue for the quarter was up 13.9% compared to the same quarter last year. Equities research analysts expect that Chipotle Mexican Grill will post 12.97 EPS 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Jack Hartung sold 1,188 shares of the company’s stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $680.00, for a total transaction of $807,840.00. Following the completion of the transaction, the chief financial officer now owns 37,472 shares of the company’s stock, valued at $25,480,960. The disclosure for this sale can be found here. Insiders sold 51,788 shares of company stock valued at $31,629,459 over the last 90 days. Insiders own 2.21% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. Horan Capital Advisors LLC. purchased a new position in shares of Chipotle Mexican Grill in the first quarter valued at $36,000. CWM LLC purchased a new position in shares of Chipotle Mexican Grill in the first quarter valued at $36,000. Motco purchased a new position in shares of Chipotle Mexican Grill in the first quarter valued at $47,000. Bruderman Asset Management LLC purchased a new position in shares of Chipotle Mexican Grill in the fourth quarter valued at $39,000. Finally, Quadrant Capital Group LLC boosted its stake in shares of Chipotle Mexican Grill by 1,780.0% in the first quarter. Quadrant Capital Group LLC now owns 94 shares of the restaurant operator’s stock valued at $66,000 after purchasing an additional 89 shares during the period. Institutional investors and hedge funds own 92.94% 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, 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.

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Analyst Recommendations for Chipotle Mexican Grill (NYSE:CMG)

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