Chipotle Mexican Grill (NYSE:CMG) Price Target Raised to $3,070.00

Chipotle Mexican Grill (NYSE:CMG) had its target price upped by Piper Sandler from $2,442.00 to $3,070.00 in a research report report published on Thursday morning, Benzinga reports. They currently have a neutral rating on the restaurant operator’s stock.

A number of other research firms have also commented on CMG. Robert W. Baird upped their price target on Chipotle Mexican Grill from $3,250.00 to $3,500.00 and gave the company an outperform rating in a research report on Thursday. Stephens raised their price target on shares of Chipotle Mexican Grill from $3,010.00 to $3,050.00 and gave the stock an equal weight rating in a report on Thursday. Morgan Stanley upped their price objective on shares of Chipotle Mexican Grill from $2,500.00 to $2,986.00 and gave the company an equal weight rating in a research note on Friday, April 12th. Raymond James boosted their target price on shares of Chipotle Mexican Grill from $2,450.00 to $2,550.00 and gave the company an outperform rating in a report on Thursday, January 25th. Finally, BTIG Research lifted their price objective on Chipotle Mexican Grill from $2,750.00 to $3,250.00 and gave the stock a buy rating in a research report on Thursday, March 28th. Ten analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and an average target price of $3,137.12.

Chipotle Mexican Grill Trading Up 2.4 %

Chipotle Mexican Grill stock opened at $3,186.97 on Thursday. The company has a market capitalization of $87.55 billion, a PE ratio of 68.01, a P/E/G ratio of 2.67 and a beta of 1.28. The stock has a 50-day moving average price of $2,822.95 and a two-hundred day moving average price of $2,430.22. Chipotle Mexican Grill has a 12 month low of $1,768.64 and a 12 month high of $3,199.99.

Chipotle Mexican Grill’s stock is going 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 distributed to shareholders after the market closes on Tuesday, June 25th.

Chipotle Mexican Grill (NYSE:CMG) last announced its quarterly earnings results on Wednesday, April 24th. The restaurant operator reported $13.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $11.63 by $1.74. The firm had revenue of $2.70 billion during the quarter, compared to analysts’ expectations of $2.67 billion. Chipotle Mexican Grill had a net margin of 12.70% and a return on equity of 43.74%. As a group, analysts predict that Chipotle Mexican Grill will post 55.08 earnings per share for the current fiscal year.

Insider Transactions at Chipotle Mexican Grill

In other Chipotle Mexican Grill news, insider Christopher W. Brandt sold 3,149 shares of Chipotle Mexican Grill stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $2,927.84, for a total transaction of $9,219,768.16. Following the completion of the transaction, the insider now owns 8,563 shares in the company, valued at approximately $25,071,093.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Brian R. Niccol sold 1,996 shares of the firm’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $2,399.91, for a total transaction of $4,790,220.36. Following the transaction, the chief executive officer now directly owns 22,447 shares of the company’s stock, valued at $53,870,779.77. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Christopher W. Brandt sold 3,149 shares of the company’s stock in a transaction dated Wednesday, March 20th. The stock was 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 directly owns 8,563 shares of the company’s stock, valued at $25,071,093.92. The disclosure for this sale can be found here. Insiders sold a total of 6,793 shares of company stock valued at $18,321,152 over the last three months. Corporate insiders own 0.96% of the company’s stock.

Hedge Funds Weigh In On Chipotle Mexican Grill

Hedge funds have recently modified their holdings of the company. Norges Bank bought a new stake in Chipotle Mexican Grill during the fourth quarter worth $805,529,000. International Assets Investment Management LLC raised its stake in shares of Chipotle Mexican Grill by 220,249.6% during the 4th quarter. International Assets Investment Management LLC now owns 301,879 shares of the restaurant operator’s stock worth $6,903,850,000 after purchasing an additional 301,742 shares during the period. Wellington Management Group LLP boosted its holdings in shares of Chipotle Mexican Grill by 41.6% in the 3rd quarter. Wellington Management Group LLP now owns 397,182 shares of the restaurant operator’s stock worth $727,570,000 after buying an additional 116,723 shares during the last quarter. Global Assets Advisory LLC purchased a new stake in Chipotle Mexican Grill during the first quarter worth about $167,256,000. Finally, 1832 Asset Management L.P. bought a new stake in Chipotle Mexican Grill in the fourth quarter worth about $100,535,000. Institutional investors own 91.31% of the company’s stock.

Chipotle Mexican Grill Company Profile

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.