JPMorgan Chase & Co. Boosts Chipotle Mexican Grill (NYSE:CMG) Price Target to $650.00

Chipotle Mexican Grill (NYSE:CMG) had its target price boosted by analysts at JPMorgan Chase & Co. from $600.00 to $650.00 in a research report issued on Friday, June 28th, BenzingaRatingsTable reports. The firm presently has a “neutral” rating on the restaurant operator’s stock. JPMorgan Chase & Co.‘s price target points to a potential downside of 12.93% from the stock’s previous close.

Other equities research analysts also recently issued research reports about the company. Evercore ISI assumed coverage on Mondelez International in a research report on Tuesday, June 11th. They set an “outperform” rating and a $62.00 price target on the stock. Maxim Group began coverage on ContraFect in a research report on Tuesday, June 11th. They set a “buy” rating on the stock. Loop Capital upped their target price on Norfolk Southern to $237.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. Robert W. Baird began coverage on The Medicines in a research note on Wednesday, March 27th. They set an “outperform” rating and a $80.00 target price for the company. Finally, Telsey Advisory Group restated a “market perform” rating and set a $64.00 target price (up from $58.00) on shares of Las Vegas Sands in a research note on Thursday, April 18th. Seven equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $658.48.

NYSE CMG traded down $17.52 during trading on Friday, reaching $746.52. 540,074 shares of the company’s stock were exchanged, compared to its average volume of 362,515. The firm’s 50 day simple moving average is $725.48. The firm has a market capitalization of $21.17 billion, a PE ratio of 82.40, a P/E/G ratio of 3.05 and a beta of 0.67. The company has a quick ratio of 1.41, a current ratio of 1.44 and a debt-to-equity ratio of 1.69. Chipotle Mexican Grill has a fifty-two week low of $383.20 and a fifty-two week high of $765.99.

Chipotle Mexican Grill (NYSE:CMG) last posted its earnings results on Wednesday, April 24th. The restaurant operator reported $3.40 EPS for the quarter, beating the consensus estimate 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 company had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.27 billion. During the same quarter in the prior year, the business earned $2.13 earnings per share. The firm’s revenue for the quarter was up 13.9% on a year-over-year basis. On average, analysts forecast that Chipotle Mexican Grill will post 13.03 earnings per share for the current year.

In related news, CTO Curtis E. Garner sold 9,276 shares of the firm’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $738.02, for a total value of $6,845,873.52. Following the transaction, the chief technology officer now owns 15,780 shares of the company’s stock, valued at approximately $11,645,955.60. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Pershing Square Capital Manage sold 80,000 shares of the firm’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $726.15, for a total transaction of $58,092,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 91,081 shares of company stock worth $66,273,971. 2.21% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in CMG. Comerica Securities Inc. lifted its position in shares of Chipotle Mexican Grill by 2.6% during the 4th quarter. Comerica Securities Inc. now owns 677 shares of the restaurant operator’s stock worth $292,000 after buying an additional 17 shares in the last quarter. Oppenheimer Asset Management Inc. raised its holdings in shares of Chipotle Mexican Grill by 4.1% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 458 shares of the restaurant operator’s stock worth $325,000 after purchasing an additional 18 shares during the period. Bessemer Group Inc. raised its holdings in shares of Chipotle Mexican Grill by 4.9% in the 4th quarter. Bessemer Group Inc. now owns 447 shares of the restaurant operator’s stock worth $193,000 after purchasing an additional 21 shares during the period. Raymond James Trust N.A. raised its holdings in shares of Chipotle Mexican Grill by 4.2% in the 2nd quarter. Raymond James Trust N.A. now owns 548 shares of the restaurant operator’s stock worth $401,000 after purchasing an additional 22 shares during the period. Finally, Mason Street Advisors LLC raised its holdings in shares of Chipotle Mexican Grill by 0.7% in the 1st quarter. Mason Street Advisors LLC now owns 3,472 shares of the restaurant operator’s stock worth $2,466,000 after purchasing an additional 25 shares during the period. 95.04% 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.

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Analyst Recommendations for Chipotle Mexican Grill (NYSE:CMG)

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