Chipotle Mexican Grill (NYSE:CMG) Price Target Raised to $3,440.00

Chipotle Mexican Grill (NYSE:CMG) had its target price lifted by Truist Financial from $3,250.00 to $3,440.00 in a research note released on Thursday, Benzinga reports. They currently have a buy rating on the restaurant operator’s stock.

A number of other brokerages have also recently weighed in on CMG. Evercore ISI lifted their price target on Chipotle Mexican Grill from $3,200.00 to $3,600.00 and gave the stock an outperform rating in a research note on Thursday. Robert W. Baird lifted their price objective on shares of Chipotle Mexican Grill from $3,250.00 to $3,500.00 and gave the stock an outperform rating in a research report on Thursday. Raymond James reaffirmed an outperform rating and issued a $3,340.00 target price (up previously from $3,300.00) on shares of Chipotle Mexican Grill in a research report on Thursday. Stifel Nicolaus increased their price objective on Chipotle Mexican Grill from $2,700.00 to $3,270.00 and gave the stock a buy rating in a research note on Thursday, April 11th. Finally, Citigroup lifted their target price on Chipotle Mexican Grill from $3,016.00 to $3,358.00 and gave the company a buy rating in a research note on Monday, April 8th. Ten equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and an average price target of $3,137.12.

Chipotle Mexican Grill Price Performance

Shares of CMG opened at $3,186.97 on Thursday. The firm’s 50 day moving average is $2,822.95 and its 200-day moving average is $2,430.22. Chipotle Mexican Grill has a 12-month low of $1,768.64 and a 12-month high of $3,199.99. The stock has a market capitalization of $87.55 billion, a P/E ratio of 68.01, a P/E/G ratio of 2.67 and a beta of 1.28.

Chipotle Mexican Grill shares are 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 distributed to shareholders after the closing bell on Tuesday, June 25th.

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

Insider Activity at Chipotle Mexican Grill

In other Chipotle Mexican Grill news, CEO Brian R. Niccol sold 1,996 shares of the business’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $2,399.91, for a total value of $4,790,220.36. Following the sale, the chief executive officer now owns 22,447 shares of the company’s stock, valued at approximately $53,870,779.77. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, insider Christopher W. Brandt sold 3,149 shares of the firm’s stock in a transaction that occurred on 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 filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Brian R. Niccol sold 1,996 shares of the company’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $2,399.91, for a total value of $4,790,220.36. Following the completion of the sale, the chief executive officer now owns 22,447 shares in the company, valued at $53,870,779.77. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,793 shares of company stock worth $18,321,152. 0.96% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Chipotle Mexican Grill

A number of hedge funds have recently made changes to their positions in CMG. Northern Trust Corp raised its stake in shares of Chipotle Mexican Grill by 5.0% in the third quarter. Northern Trust Corp now owns 283,203 shares of the restaurant operator’s stock valued at $518,780,000 after acquiring an additional 13,513 shares during the last quarter. Covestor Ltd grew its holdings in shares of Chipotle Mexican Grill by 9.2% during the third quarter. Covestor Ltd now owns 95 shares of the restaurant operator’s stock worth $174,000 after purchasing an additional 8 shares during the last quarter. NewEdge Wealth LLC bought a new position in shares of Chipotle Mexican Grill in the third quarter valued at about $205,000. Laidlaw Wealth Management LLC lifted its position in Chipotle Mexican Grill by 69.8% during the 3rd quarter. Laidlaw Wealth Management LLC now owns 270 shares of the restaurant operator’s stock worth $495,000 after buying an additional 111 shares in the last quarter. Finally, Clearstead Advisors LLC increased its position in Chipotle Mexican Grill by 0.7% in the 3rd quarter. Clearstead Advisors LLC now owns 773 shares of the restaurant operator’s stock valued at $1,416,000 after acquiring an additional 5 shares in the last quarter. Institutional investors and hedge funds 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.