Chipotle Mexican Grill (NYSE:CMG) Coverage Initiated at Evercore ISI
Evercore ISI began coverage on shares of Chipotle Mexican Grill (NYSE:CMG) in a research report report published on Tuesday, 24/7 WallStreet reports. The brokerage issued an outperform rating and a $825.00 price target on the restaurant operator’s stock.
A number of other equities research analysts also recently commented on the company. Maxim Group reissued a hold rating and issued a $650.00 target price (up previously from $635.00) on shares of Chipotle Mexican Grill in a report on Tuesday. Citigroup raised their target price on Chipotle Mexican Grill from $695.00 to $797.00 and gave the company a buy rating in a report on Thursday, June 6th. BMO Capital Markets downgraded Chipotle Mexican Grill from a market perform rating to an underperform rating and reduced their target price for the company from $675.00 to $620.00 in a report on Thursday, May 23rd. They noted that the move was a valuation call. Piper Jaffray Companies raised their target price on Chipotle Mexican Grill from $760.00 to $783.00 and gave the company an overweight rating in a report on Monday, May 20th. Finally, UBS Group set a $797.00 price target on Chipotle Mexican Grill and gave the company a buy rating in a research report on Wednesday, May 8th. Six analysts have rated the stock with a sell rating, fourteen have given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Chipotle Mexican Grill presently has a consensus rating of Hold and a consensus target price of $648.66.
Chipotle Mexican Grill stock opened at $740.59 on Tuesday. Chipotle Mexican Grill has a one year low of $383.20 and a one year high of $749.24. The company has a debt-to-equity ratio of 1.69, a current ratio of 1.44 and a quick ratio of 1.41. The firm has a market capitalization of $20.30 billion, a price-to-earnings ratio of 81.74, a price-to-earnings-growth ratio of 2.96 and a beta of 0.63.
In related news, CTO Curtis E. Garner sold 9,276 shares of Chipotle Mexican Grill stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $738.02, for a total transaction of $6,845,873.52. Following the completion of the sale, the chief technology officer now owns 15,780 shares in the company, valued at approximately $11,645,955.60. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Scott Boatwright sold 1,805 shares of Chipotle Mexican Grill stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $740.22, for a total value of $1,336,097.10. Following the sale, the insider now owns 8,869 shares of the company’s stock, valued at approximately $6,565,011.18. The disclosure for this sale can be found here. In the last quarter, insiders have sold 18,832 shares of company stock valued at $13,294,768. 2.21% of the stock is currently owned by company insiders.
A number of institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc increased its position in Chipotle Mexican Grill by 1.9% during the 3rd quarter. Vanguard Group Inc now owns 2,590,430 shares of the restaurant operator’s stock worth $1,177,403,000 after purchasing an additional 47,822 shares in the last quarter. BlackRock Inc. grew its holdings in Chipotle Mexican Grill by 4.2% in the 4th 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. Renaissance Technologies LLC grew its holdings in Chipotle Mexican Grill by 17.7% in the 1st quarter. Renaissance Technologies LLC now owns 1,460,399 shares of the restaurant operator’s stock valued at $1,037,336,000 after buying an additional 219,940 shares during the period. FMR LLC grew its holdings in Chipotle Mexican Grill by 88.7% in the 1st quarter. FMR LLC now owns 1,143,585 shares of the restaurant operator’s stock valued at $812,301,000 after buying an additional 537,677 shares during the period. Finally, Jennison Associates LLC grew its holdings in Chipotle Mexican Grill by 6.6% in the 1st quarter. Jennison Associates LLC now owns 862,319 shares of the restaurant operator’s stock valued at $612,514,000 after buying an additional 53,501 shares during the period. Hedge funds and other institutional investors own 95.08% 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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