Chipotle Mexican Grill (NYSE:CMG) Price Target Raised to $2,750.00 at JPMorgan Chase & Co.

Chipotle Mexican Grill (NYSE:CMG) had its target price raised by JPMorgan Chase & Co. from $2,500.00 to $2,750.00 in a research report sent to investors on Thursday morning, Benzinga reports. They currently have a neutral rating on the restaurant operator’s stock.

A number of other analysts have also issued reports on CMG. Deutsche Bank Aktiengesellschaft boosted their price target on Chipotle Mexican Grill from $3,400.00 to $3,600.00 and gave the company a buy rating in a report on Thursday. Raymond James reissued 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. TD Cowen lifted their price objective on Chipotle Mexican Grill from $3,400.00 to $3,500.00 and gave the company a buy rating in a report on Thursday. Truist Financial raised their target price on shares of Chipotle Mexican Grill from $2,700.00 to $2,920.00 and gave the company a buy rating in a research report on Wednesday, February 7th. Finally, Wedbush increased their price objective on shares of Chipotle Mexican Grill from $2,850.00 to $3,200.00 and gave the company a neutral 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. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus target price of $3,057.68.

Chipotle Mexican Grill Price Performance

Shares of Chipotle Mexican Grill stock traded up $71.82 on Thursday, reaching $3,183.79. The company had a trading volume of 228,919 shares, compared to its average volume of 241,128. The firm has a market cap of $87.46 billion, a price-to-earnings ratio of 67.09, a P/E/G ratio of 2.48 and a beta of 1.28. The firm’s 50-day moving average price is $2,811.11 and its two-hundred day moving average price is $2,416.65. Chipotle Mexican Grill has a 1 year low of $1,768.64 and a 1 year high of $3,199.99.

Chipotle Mexican Grill’s stock is going 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 data on Wednesday, April 24th. The restaurant operator reported $13.37 earnings per share (EPS) for the quarter, beating 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 company had revenue of $2.70 billion during the quarter, compared to analysts’ expectations of $2.67 billion. As a group, analysts anticipate that Chipotle Mexican Grill will post 53.49 EPS for the current year.

Insiders Place Their Bets

In other news, insider Christopher W. Brandt sold 3,149 shares of Chipotle Mexican Grill 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 completion of the transaction, the insider now directly owns 8,563 shares of the company’s stock, valued at approximately $25,071,093.92. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, insider Christopher W. Brandt sold 3,149 shares of Chipotle Mexican Grill 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 completion of the transaction, the insider now directly owns 8,563 shares of the company’s stock, valued at approximately $25,071,093.92. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Albert S. Baldocchi sold 750 shares of Chipotle Mexican Grill 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 completion of the sale, the director now directly owns 37,271 shares in the company, 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 valued at $18,321,152. 0.96% of the stock is owned by insiders.

Institutional Investors Weigh In On Chipotle Mexican Grill

Institutional investors have recently added to or reduced their stakes in the stock. Steph & Co. acquired a new stake in Chipotle Mexican Grill in the 1st quarter valued at $29,000. Fortitude Family Office LLC acquired a new stake in Chipotle Mexican Grill in the 4th quarter valued at $32,000. Turtle Creek Wealth Advisors LLC acquired a new stake in Chipotle Mexican Grill during the 4th quarter worth $37,000. ICA Group Wealth Management LLC acquired a new stake in Chipotle Mexican Grill during the 4th quarter worth $37,000. Finally, Keener Financial Planning LLC acquired a new stake in Chipotle Mexican Grill during the 4th quarter worth $43,000. Institutional investors and hedge funds 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.