Chipotle Mexican Grill (NYSE:CMG) Price Target Increased to $3,369.00 by Analysts at Citigroup

Chipotle Mexican Grill (NYSE:CMG) had its price objective lifted by Citigroup from $3,358.00 to $3,369.00 in a research report released on Thursday morning, Benzinga reports. They currently have a buy rating on the restaurant operator’s stock.

A number of other equities research analysts have also recently commented on CMG. Stephens raised their price objective on Chipotle Mexican Grill from $3,010.00 to $3,050.00 and gave the company an equal weight rating in a research note on Thursday. Argus upped their target price on Chipotle Mexican Grill from $3,265.00 to $3,366.00 and gave the stock a buy rating in a research note on Thursday, April 4th. Piper Sandler lifted their price objective on Chipotle Mexican Grill from $2,442.00 to $3,070.00 and gave the stock a neutral rating in a research report on Thursday. Raymond James reaffirmed an outperform rating and set a $3,340.00 price objective (up previously from $3,300.00) on shares of Chipotle Mexican Grill in a research report on Thursday. Finally, BMO Capital Markets raised their target price on Chipotle Mexican Grill from $2,400.00 to $2,850.00 and gave the stock a market perform rating in a report on Thursday. Eleven equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average target price of $3,057.68.

Chipotle Mexican Grill Stock Up 2.3 %

Shares of Chipotle Mexican Grill stock traded up $71.82 on Thursday, hitting $3,183.79. The company’s stock had a trading volume of 228,919 shares, compared to its average volume of 241,128. The firm has a fifty day moving average price of $2,811.11 and a 200-day moving average price of $2,416.65. The company has a market capitalization of $87.46 billion, a P/E ratio of 67.09, a price-to-earnings-growth ratio of 2.48 and a beta of 1.28. Chipotle Mexican Grill has a 52-week low of $1,768.64 and a 52-week high of $3,199.99.

Chipotle Mexican Grill shares are going to split on 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 issued its quarterly earnings data on Wednesday, April 24th. The restaurant operator reported $13.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $11.63 by $1.74. Chipotle Mexican Grill had a return on equity of 45.46% and a net margin of 12.70%. The business had revenue of $2.70 billion during the quarter, compared to analyst estimates of $2.67 billion. As a group, analysts expect that Chipotle Mexican Grill will post 53.49 earnings per share for the current year.

Insiders Place Their Bets

In other Chipotle Mexican Grill news, Director Albert S. Baldocchi sold 750 shares of the stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $2,608.51, for a total transaction of $1,956,382.50. Following the transaction, the director now directly owns 37,271 shares of the company’s stock, valued at $97,221,776.21. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, insider Christopher W. Brandt sold 3,149 shares of the firm’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $2,927.84, for a total transaction 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Albert S. Baldocchi sold 750 shares of the firm’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $2,608.51, for a total value of $1,956,382.50. Following the sale, the director now directly owns 37,271 shares of the company’s stock, valued at approximately $97,221,776.21. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,793 shares of company stock worth $18,321,152. 0.96% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Chipotle Mexican Grill

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Mesirow Financial Investment Management Inc. purchased a new position in shares of Chipotle Mexican Grill in the 1st quarter worth about $230,000. Emerald Advisors LLC bought a new stake in shares of Chipotle Mexican Grill during the first quarter worth $872,000. Meridian Wealth Management LLC raised its holdings in shares of Chipotle Mexican Grill by 4.0% in the first quarter. Meridian Wealth Management LLC now owns 234 shares of the restaurant operator’s stock valued at $680,000 after acquiring an additional 9 shares in the last quarter. Lindbrook Capital LLC raised its holdings in shares of Chipotle Mexican Grill by 5.1% in the 1st quarter. Lindbrook Capital LLC now owns 348 shares of the restaurant operator’s stock valued at $1,012,000 after purchasing an additional 17 shares in the last quarter. Finally, Strategy Asset Managers LLC boosted its position in Chipotle Mexican Grill by 10.1% during the 1st quarter. Strategy Asset Managers LLC now owns 196 shares of the restaurant operator’s stock valued at $570,000 after acquiring an additional 18 shares in the last quarter. 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.