Chipotle Mexican Grill (NYSE:CMG) PT Raised to $3,366.00 at Argus

Chipotle Mexican Grill (NYSE:CMGGet Free Report) had its price target hoisted by investment analysts at Argus from $3,265.00 to $3,366.00 in a report issued on Thursday, Briefing.com reports. The firm presently has a “buy” rating on the restaurant operator’s stock. Argus’ price target would suggest a potential upside of 16.18% from the company’s current price.

CMG has been the subject of several other reports. Wells Fargo & Company increased their price objective on shares of Chipotle Mexican Grill from $2,600.00 to $2,800.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 7th. Sanford C. Bernstein increased their target price on shares of Chipotle Mexican Grill from $2,800.00 to $3,200.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 26th. KeyCorp increased their target price on shares of Chipotle Mexican Grill from $2,250.00 to $2,750.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 7th. BMO Capital Markets increased their target price on shares of Chipotle Mexican Grill from $2,100.00 to $2,400.00 and gave the stock a “market perform” rating in a research note on Wednesday, February 7th. Finally, TD Cowen increased their target price on shares of Chipotle Mexican Grill from $2,650.00 to $2,900.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 7th. Nine research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $2,602.15.

Read Our Latest Analysis on Chipotle Mexican Grill

Chipotle Mexican Grill Price Performance

CMG stock opened at $2,897.21 on Thursday. The company has a 50 day simple moving average of $2,674.78 and a 200 day simple moving average of $2,300.80. The stock has a market cap of $79.44 billion, a price-to-earnings ratio of 65.33, a P/E/G ratio of 2.49 and a beta of 1.28. Chipotle Mexican Grill has a 1 year low of $1,664.71 and a 1 year high of $3,023.98.

Chipotle Mexican Grill’s stock is set to split before the market opens on Wednesday, June 26th. The 50-1 split was announced on Tuesday, March 19th. The newly minted shares will be payable to shareholders after the closing bell on Tuesday, June 25th.

Chipotle Mexican Grill (NYSE:CMGGet Free Report) last announced its quarterly earnings results on Tuesday, February 6th. The restaurant operator reported $10.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.73 by $0.63. Chipotle Mexican Grill had a net margin of 12.45% and a return on equity of 44.41%. The firm had revenue of $2.52 billion during the quarter, compared to analysts’ expectations of $2.49 billion. During the same period in the prior year, the company posted $8.29 EPS. The company’s revenue was up 15.4% on a year-over-year basis. On average, equities research analysts anticipate that Chipotle Mexican Grill will post 53.12 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Christopher W. Brandt sold 3,149 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $2,927.84, for a total transaction of $9,219,768.16. Following the completion of the sale, the insider now owns 8,563 shares in the company, valued at $25,071,093.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Christopher W. Brandt sold 3,149 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $2,927.84, for a total transaction of $9,219,768.16. Following the completion of the sale, the insider now owns 8,563 shares in the company, valued at $25,071,093.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Albert S. Baldocchi sold 750 shares of the firm’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $2,608.51, for a total transaction of $1,956,382.50. Following the sale, the director now owns 37,271 shares of the company’s stock, valued at approximately $97,221,776.21. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 6,793 shares of company stock worth $18,321,152. Insiders own 0.96% of the company’s stock.

Hedge Funds Weigh In On Chipotle Mexican Grill

Several large investors have recently modified their holdings of CMG. Fortitude Family Office LLC bought a new position in shares of Chipotle Mexican Grill in the fourth quarter valued at approximately $32,000. Coppell Advisory Solutions LLC bought a new position in shares of Chipotle Mexican Grill in the second quarter valued at approximately $32,000. IMA Wealth Inc. boosted its position in shares of Chipotle Mexican Grill by 185.7% in the first quarter. IMA Wealth Inc. now owns 20 shares of the restaurant operator’s stock valued at $34,000 after acquiring an additional 13 shares during the period. Turtle Creek Wealth Advisors LLC bought a new position in shares of Chipotle Mexican Grill in the fourth quarter valued at approximately $37,000. Finally, ICA Group Wealth Management LLC bought a new position in shares of Chipotle Mexican Grill in the fourth quarter valued at approximately $37,000. Hedge funds and other institutional investors own 91.31% of the company’s stock.

About Chipotle Mexican Grill

(Get Free Report)

Chipotle Mexican Grill, Inc, together with its subsidiaries, owns and operates Chipotle Mexican Grill restaurants. It sells food and beverages through offering burritos, burrito bowls, quesadillas, tacos, and salads. The company also provides delivery and related services its app and website. It has operations in the United States, Canada, France, Germany, and the United Kingdom.

See Also

Analyst Recommendations for Chipotle Mexican Grill (NYSE:CMG)

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