Chipotle Mexican Grill (NYSE:CMG) Price Target Raised to $3,500.00

Chipotle Mexican Grill (NYSE:CMG) had its price objective increased by TD Cowen from $3,400.00 to $3,500.00 in a research note published on Thursday morning, Benzinga reports. TD Cowen currently has a buy rating on the restaurant operator’s stock.

Several other equities research analysts have also weighed in on the company. 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. Sanford C. Bernstein raised their price objective on shares of Chipotle Mexican Grill from $2,800.00 to $3,200.00 and gave the stock an outperform rating in a report on Tuesday, March 26th. Barclays boosted their target price on shares of Chipotle Mexican Grill from $2,246.00 to $2,400.00 and gave the company an equal weight rating in a report on Wednesday, February 7th. Truist Financial boosted their price objective on Chipotle Mexican Grill from $2,700.00 to $2,920.00 and gave the company a buy rating in a research note on Wednesday, February 7th. Finally, Evercore ISI lifted their target price on Chipotle Mexican Grill from $2,900.00 to $3,200.00 and gave the company an outperform rating in a report on Thursday, April 18th. Ten analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of Moderate Buy and a consensus price target of $3,137.12.

Chipotle Mexican Grill Price Performance

Shares of CMG stock opened at $3,186.97 on Thursday. The company has a market cap 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 has a one year low of $1,768.64 and a one year high of $3,199.99. The firm has a 50-day moving average of $2,822.95 and a 200-day moving average of $2,430.22.

Shares of Chipotle Mexican Grill are set to split 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 posted its quarterly earnings results on Wednesday, April 24th. The restaurant operator reported $13.37 EPS for the quarter, topping analysts’ consensus estimates 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. As a group, research analysts expect that Chipotle Mexican Grill will post 55.08 earnings per share for the current fiscal year.

Insider Transactions at Chipotle Mexican Grill

In related news, 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 transaction of $4,790,220.36. Following the completion of the sale, the chief executive officer now directly owns 22,447 shares in the company, valued at approximately $53,870,779.77. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CEO Brian R. Niccol sold 1,996 shares of the company’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 completion of the transaction, the chief executive officer now directly owns 22,447 shares of the company’s stock, valued at $53,870,779.77. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Albert S. Baldocchi sold 750 shares of the 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 $97,221,776.21. The disclosure for this sale can be found here. Over the last 90 days, insiders have 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

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Steph & Co. bought a new stake in Chipotle Mexican Grill in the first quarter valued at $29,000. Fortitude Family Office LLC purchased a new stake in shares of Chipotle Mexican Grill in the 4th quarter worth about $32,000. Turtle Creek Wealth Advisors LLC bought a new stake in shares of Chipotle Mexican Grill during the 4th quarter valued at about $37,000. ICA Group Wealth Management LLC purchased a new position in shares of Chipotle Mexican Grill during the fourth quarter valued at about $37,000. Finally, Keener Financial Planning LLC purchased a new position in shares of Chipotle Mexican Grill during the fourth quarter valued at about $43,000. Institutional investors own 91.31% of the company’s stock.

About Chipotle Mexican Grill

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.