Truist Financial Boosts Chipotle Mexican Grill (NYSE:CMG) Price Target to $3,440.00

Chipotle Mexican Grill (NYSE:CMG) had its price objective increased by equities researchers at Truist Financial from $3,250.00 to $3,440.00 in a research report issued on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the restaurant operator’s stock. Truist Financial’s price objective suggests a potential upside of 7.86% from the company’s current price.

Several other equities analysts have also recently issued reports on the stock. Raymond James reiterated an “outperform” rating and set a $3,340.00 price target (up previously from $3,300.00) on shares of Chipotle Mexican Grill in a research report on Thursday. Wedbush boosted their price target on shares of Chipotle Mexican Grill from $2,850.00 to $3,200.00 and gave the company a “neutral” rating in a research report on Thursday. Wells Fargo & Company boosted their price objective on shares of Chipotle Mexican Grill from $3,285.00 to $3,300.00 and gave the stock an “overweight” rating in a research note on Thursday. Argus upped their price objective on shares of Chipotle Mexican Grill from $3,265.00 to $3,366.00 and gave the stock a “buy” rating in a report on Thursday, April 4th. Finally, Morgan Stanley upped their price objective on shares of Chipotle Mexican Grill from $2,986.00 to $3,100.00 and gave the stock an “equal weight” rating in a report on Thursday. Ten research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $3,137.12.

Chipotle Mexican Grill Trading Up 2.5 %

CMG stock opened at $3,189.40 on Thursday. Chipotle Mexican Grill has a 12-month low of $1,768.64 and a 12-month high of $3,199.99. The firm’s 50-day moving average price is $2,822.95 and its two-hundred day moving average price is $2,426.07. The stock has a market capitalization of $87.61 billion, a price-to-earnings ratio of 68.06, a PEG ratio of 2.60 and a beta of 1.28.

Chipotle Mexican Grill shares are set to split on the morning of Wednesday, June 26th. The 50-1 split was announced on Tuesday, March 19th. The newly minted shares will be payable 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. Chipotle Mexican Grill had a net margin of 12.70% and a return on equity of 43.74%. The company had revenue of $2.70 billion for the quarter, compared to analysts’ expectations of $2.67 billion. Equities analysts predict that Chipotle Mexican Grill will post 54.07 EPS for the current year.

Insider Buying and Selling

In related news, CEO Brian R. Niccol sold 1,996 shares of the firm’s stock in a transaction that occurred 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 in the company, valued at $53,870,779.77. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Brian R. Niccol sold 1,996 shares of the firm’s stock in a transaction that occurred 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 in the company, valued at $53,870,779.77. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Roger E. Theodoredis sold 898 shares of the firm’s stock in a transaction that occurred on 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 sale, the insider now owns 1,529 shares in the company, valued at approximately $4,009,420.25. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 6,793 shares of company stock worth $18,321,152. 0.96% of the stock is owned by insiders.

Institutional Investors Weigh In On Chipotle Mexican Grill

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Northern Trust Corp boosted its holdings in Chipotle Mexican Grill by 5.0% in the third quarter. Northern Trust Corp now owns 283,203 shares of the restaurant operator’s stock worth $518,780,000 after purchasing an additional 13,513 shares during the last quarter. Covestor Ltd raised its position in Chipotle Mexican Grill by 9.2% in the third quarter. Covestor Ltd now owns 95 shares of the restaurant operator’s stock worth $174,000 after acquiring an additional 8 shares during the period. NewEdge Wealth LLC bought a new position in Chipotle Mexican Grill in the third quarter worth approximately $205,000. Laidlaw Wealth Management LLC raised its position in Chipotle Mexican Grill by 69.8% in the third quarter. Laidlaw Wealth Management LLC now owns 270 shares of the restaurant operator’s stock worth $495,000 after acquiring an additional 111 shares during the period. Finally, Clearstead Advisors LLC raised its position in Chipotle Mexican Grill by 0.7% in the third quarter. Clearstead Advisors LLC now owns 773 shares of the restaurant operator’s stock worth $1,416,000 after acquiring an additional 5 shares during the period. Hedge funds and other 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.