KeyCorp Increases Chipotle Mexican Grill (NYSE:CMG) Price Target to $3,400.00

Chipotle Mexican Grill (NYSE:CMG) had its price target lifted by equities research analysts at KeyCorp from $3,250.00 to $3,400.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm presently has an “overweight” rating on the restaurant operator’s stock. KeyCorp’s price objective would indicate a potential upside of 9.44% from the company’s previous close.

A number of other brokerages have also commented on CMG. Sanford C. Bernstein raised their price objective on Chipotle Mexican Grill from $2,800.00 to $3,200.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 26th. Deutsche Bank Aktiengesellschaft raised their price objective on Chipotle Mexican Grill from $3,400.00 to $3,600.00 and gave the company a “buy” rating in a research note on Thursday. 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 report on Thursday. Wedbush lifted their price objective on Chipotle Mexican Grill from $2,850.00 to $3,200.00 and gave the stock a “neutral” rating in a report on Thursday. Finally, TD Cowen boosted their price target on Chipotle Mexican Grill from $3,400.00 to $3,500.00 and gave the company a “buy” rating in a research note on Thursday. Eleven equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $3,022.11.

Chipotle Mexican Grill Price Performance

Shares of CMG traded up $180.02 during trading hours on Thursday, reaching $3,106.78. 402,700 shares of the company’s stock traded hands, compared to its average volume of 237,534. The firm has a market capitalization of $85.19 billion, a price-to-earnings ratio of 69.85, a P/E/G ratio of 2.47 and a beta of 1.28. Chipotle Mexican Grill has a twelve month low of $1,768.64 and a twelve month high of $3,107.63. The business’s fifty day simple moving average is $2,801.11 and its two-hundred day simple moving average is $2,411.76.

Chipotle Mexican Grill shares are set to split on Wednesday, June 26th. The 50-1 split was announced on Tuesday, March 19th. The newly created shares will be payable to shareholders after the market closes on Tuesday, June 25th.

Chipotle Mexican Grill (NYSE:CMG) last released its quarterly earnings results on Wednesday, April 24th. The restaurant operator reported $13.37 earnings per share for the quarter, beating analysts’ consensus estimates of $11.63 by $1.74. Chipotle Mexican Grill had a return on equity of 44.41% and a net margin of 12.45%. The business had revenue of $2.70 billion during the quarter, compared to analyst estimates of $2.67 billion. On average, equities research analysts expect that Chipotle Mexican Grill will post 53.49 EPS for the current year.

Insider Activity at Chipotle Mexican Grill

In related news, 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 value 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 available at the SEC website. In other news, insider Roger E. Theodoredis sold 898 shares of the company’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $2,622.25, for a total transaction of $2,354,780.50. Following the completion of the transaction, the insider now directly owns 1,529 shares of the company’s stock, valued at $4,009,420.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 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 value of $9,219,768.16. Following the transaction, 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. Over the last quarter, insiders sold 6,793 shares of company stock worth $18,321,152. 0.96% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CMG. Steph & Co. bought a new stake in Chipotle Mexican Grill in the first quarter valued at approximately $29,000. Fortitude Family Office LLC bought a new stake in Chipotle Mexican Grill in the fourth quarter valued at approximately $32,000. Turtle Creek Wealth Advisors LLC bought a new stake in Chipotle Mexican Grill in the fourth quarter valued at approximately $37,000. ICA Group Wealth Management LLC bought a new stake in Chipotle Mexican Grill in the fourth quarter valued at approximately $37,000. Finally, Annis Gardner Whiting Capital Advisors LLC bought a new stake in Chipotle Mexican Grill in the third quarter valued at approximately $38,000. 91.31% of the stock is owned by institutional investors and hedge funds.

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.