Chipotle Mexican Grill (CMG) Price Target Increased to $700.00 by Analysts at Wedbush

Chipotle Mexican Grill (NYSE:CMG) had its target price upped by Wedbush from $680.00 to $700.00 in a research report sent to investors on Thursday morning, The Fly reports. They currently have a neutral rating on the restaurant operator’s stock. Wedbush also issued estimates for Chipotle Mexican Grill’s Q2 2019 earnings at $3.56 EPS, Q4 2019 earnings at $3.10 EPS and Q4 2020 earnings at $4.43 EPS. The analysts noted that the move was a valuation call.

A number of other research firms have also recently issued reports on CMG. Robert W. Baird reissued a buy rating and issued a $525.00 target price on shares of Chipotle Mexican Grill in a research note on Thursday, January 3rd. Wells Fargo & Co boosted their target price on Chipotle Mexican Grill from $489.00 to $647.00 and gave the company a market perform rating in a research note on Tuesday, April 16th. BTIG Research boosted their target price on Chipotle Mexican Grill from $620.00 to $700.00 and gave the company a buy rating in a research note on Wednesday, March 13th. KeyCorp boosted their target price on Chipotle Mexican Grill from $525.00 to $625.00 and gave the company an overweight rating in a research note on Thursday, February 7th. Finally, Stifel Nicolaus reaffirmed a hold rating and set a $500.00 price objective on shares of Chipotle Mexican Grill in a research report on Monday, February 11th. Six investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of Hold and an average target price of $626.29.

NYSE:CMG opened at $676.79 on Thursday. Chipotle Mexican Grill has a 1 year low of $383.20 and a 1 year high of $721.21. The stock has a market capitalization of $18.76 billion, a price-to-earnings ratio of 74.70, a price-to-earnings-growth ratio of 3.00 and a beta of 0.68.

Chipotle Mexican Grill (NYSE:CMG) last posted its earnings results on Wednesday, April 24th. The restaurant operator reported $3.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.01 by $0.39. Chipotle Mexican Grill had a return on equity of 19.78% and a net margin of 4.08%. The firm had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.27 billion. During the same period in the previous year, the firm earned $2.13 earnings per share. The company’s revenue was up 13.9% on a year-over-year basis. Equities research analysts predict that Chipotle Mexican Grill will post 12.9 EPS for the current year.

In related news, CFO Jack Hartung sold 1,188 shares of the company’s stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $680.00, for a total transaction of $807,840.00. Following the sale, the chief financial officer now owns 37,472 shares in the company, valued at $25,480,960. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Pershing Square Capital Manage sold 20,000 shares of the company’s stock in a transaction dated Tuesday, February 12th. The stock was sold at an average price of $594.65, for a total value of $11,893,000.00. The disclosure for this sale can be found here. Insiders have sold 51,788 shares of company stock worth $31,629,459 in the last quarter. 2.21% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CMG. Vanguard Group Inc raised its stake in Chipotle Mexican Grill by 1.9% in the third quarter. Vanguard Group Inc now owns 2,590,430 shares of the restaurant operator’s stock valued at $1,177,403,000 after buying an additional 47,822 shares during the period. BlackRock Inc. raised its stake in Chipotle Mexican Grill by 4.2% in the fourth quarter. BlackRock Inc. now owns 1,615,632 shares of the restaurant operator’s stock valued at $697,615,000 after buying an additional 64,606 shares during the period. Clearbridge Investments LLC raised its stake in Chipotle Mexican Grill by 1.5% in the third quarter. Clearbridge Investments LLC now owns 678,507 shares of the restaurant operator’s stock valued at $308,395,000 after buying an additional 10,206 shares during the period. American Century Companies Inc. raised its stake in Chipotle Mexican Grill by 42.3% in the fourth quarter. American Century Companies Inc. now owns 443,485 shares of the restaurant operator’s stock valued at $191,492,000 after buying an additional 131,803 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in Chipotle Mexican Grill by 13.9% in the fourth quarter. Bank of New York Mellon Corp now owns 376,563 shares of the restaurant operator’s stock valued at $162,595,000 after buying an additional 46,092 shares during the period. Institutional investors and hedge funds own 93.07% of the company’s stock.

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.

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