Chipotle Mexican Grill (CMG) Coverage Initiated at Gordon Haskett

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Gordon Haskett assumed coverage on shares of Chipotle Mexican Grill (NYSE:CMG) in a research report report published on Thursday morning, The Fly reports. The brokerage issued an underperform rating and a $385.00 price objective on the restaurant operator’s stock.

Other research analysts have also issued reports about the company. ValuEngine raised Chipotle Mexican Grill from a hold rating to a buy rating in a research report on Tuesday, July 10th. Canaccord Genuity increased their target price on Chipotle Mexican Grill from $425.00 to $500.00 and gave the stock a buy rating in a research report on Thursday, June 28th. SunTrust Banks increased their target price on Chipotle Mexican Grill to $490.00 and gave the stock a buy rating in a research report on Friday, June 29th. Zacks Investment Research raised Chipotle Mexican Grill from a hold rating to a buy rating and set a $512.00 target price on the stock in a research report on Monday, July 16th. Finally, Robert W. Baird reaffirmed a buy rating and issued a $535.00 target price on shares of Chipotle Mexican Grill in a research report on Friday, July 27th. Nine investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and twelve have given a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus price target of $424.07.

Shares of CMG opened at $428.54 on Thursday. The firm has a market capitalization of $11.92 billion, a P/E ratio of 64.93, a PEG ratio of 2.81 and a beta of 0.44. Chipotle Mexican Grill has a twelve month low of $247.51 and a twelve month high of $530.68.

Chipotle Mexican Grill (NYSE:CMG) last issued its earnings results on Thursday, July 26th. The restaurant operator reported $2.87 earnings per share for the quarter, topping the consensus estimate of $2.78 by $0.09. The business had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.26 billion. Chipotle Mexican Grill had a return on equity of 15.64% and a net margin of 3.65%. As a group, analysts predict that Chipotle Mexican Grill will post 8.57 earnings per share for the current fiscal year.

In other Chipotle Mexican Grill news, Director Pershing Square Capital Manage sold 823,357 shares of the firm’s stock in a transaction dated Tuesday, August 28th. The stock was sold at an average price of $487.29, for a total value of $401,213,632.53. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 2.19% of the company’s stock.

Several institutional investors have recently made changes to their positions in CMG. Canada Pension Plan Investment Board grew its stake in shares of Chipotle Mexican Grill by 636.4% during the second quarter. Canada Pension Plan Investment Board now owns 243 shares of the restaurant operator’s stock valued at $105,000 after acquiring an additional 210 shares in the last quarter. Cornerstone Wealth Management LLC grew its stake in shares of Chipotle Mexican Grill by 17.1% during the third quarter. Cornerstone Wealth Management LLC now owns 35,254 shares of the restaurant operator’s stock valued at $116,000 after acquiring an additional 5,142 shares in the last quarter. Piedmont Investment Advisors LLC acquired a new stake in shares of Chipotle Mexican Grill during the second quarter valued at about $119,000. Dupont Capital Management Corp acquired a new stake in shares of Chipotle Mexican Grill during the second quarter valued at about $123,000. Finally, Bessemer Group Inc. acquired a new stake in shares of Chipotle Mexican Grill during the second quarter valued at about $184,000. Institutional investors own 88.37% 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, 2017, it operated 2,363 Chipotle restaurants throughout the United States, as well as 37 international Chipotle restaurants; and 8 non-Chipotle restaurants. The company was founded in 1993 and is based in Denver, Colorado.

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Analyst Recommendations for Chipotle Mexican Grill (NYSE:CMG)

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