Chipotle Mexican Grill (NYSE:CMG) Price Target Raised to $3,350.00

Chipotle Mexican Grill (NYSE:CMG) had its price target increased by BTIG Research from $3,250.00 to $3,350.00 in a research note issued to investors on Thursday, Benzinga reports. They currently have a buy rating on the restaurant operator’s stock.

Several other research analysts have also recently commented on the stock. Oppenheimer restated an outperform rating and issued a $3,300.00 target price (up previously from $2,825.00) on shares of Chipotle Mexican Grill in a research report on Thursday. Sanford C. Bernstein raised their target price on Chipotle Mexican Grill from $2,800.00 to $3,200.00 and gave the company an outperform rating in a research report on Tuesday, March 26th. Citigroup boosted their price target on Chipotle Mexican Grill from $3,016.00 to $3,358.00 and gave the stock a buy rating in a research report on Monday, April 8th. Argus raised their price target on Chipotle Mexican Grill from $3,265.00 to $3,366.00 and gave the company a buy rating in a report on Thursday, April 4th. Finally, Piper Sandler upped their price objective on shares of Chipotle Mexican Grill from $2,442.00 to $3,070.00 and gave the stock a neutral rating in a report on Thursday. Ten investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat.com, Chipotle Mexican Grill presently has a consensus rating of Moderate Buy and an average target price of $3,137.12.

Chipotle Mexican Grill Trading Up 2.4 %

Shares of Chipotle Mexican Grill stock opened at $3,186.97 on Thursday. Chipotle Mexican Grill has a twelve month low of $1,768.64 and a twelve month high of $3,199.99. The stock has a market capitalization of $87.55 billion, a price-to-earnings ratio of 68.01, a PEG ratio of 2.67 and a beta of 1.28. The business’s 50 day simple moving average is $2,822.95 and its 200-day simple moving average is $2,430.22.

Chipotle Mexican Grill’s stock is scheduled to split on Wednesday, June 26th. The 50-1 split was announced on Tuesday, March 19th. The newly issued shares will be payable to shareholders after the closing bell on Tuesday, June 25th.

Chipotle Mexican Grill (NYSE:CMG) last posted its earnings results 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. The company had revenue of $2.70 billion for the quarter, compared to analysts’ expectations of $2.67 billion. Chipotle Mexican Grill had a return on equity of 43.74% and a net margin of 12.70%. Sell-side analysts predict that Chipotle Mexican Grill will post 55.08 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Roger E. Theodoredis sold 898 shares of the stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $2,622.25, for a total value of $2,354,780.50. Following the completion of the sale, the insider now owns 1,529 shares in the company, valued at $4,009,420.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Chipotle Mexican Grill news, insider Roger E. Theodoredis sold 898 shares of Chipotle Mexican Grill stock in a transaction on Thursday, February 8th. The shares were 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 of the company’s stock, valued at approximately $4,009,420.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Christopher W. Brandt sold 3,149 shares of the company’s stock in a transaction on Wednesday, March 20th. The stock was 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 in the company, valued at $25,071,093.92. The disclosure for this sale can be found here. In the last 90 days, insiders sold 6,793 shares of company stock valued at $18,321,152. Company insiders own 0.96% of the company’s stock.

Institutional Investors Weigh In On Chipotle Mexican Grill

Several large investors have recently made changes to their positions in the company. Norges Bank acquired a new stake in Chipotle Mexican Grill in the fourth quarter valued at approximately $805,529,000. International Assets Investment Management LLC lifted its stake in shares of Chipotle Mexican Grill by 220,249.6% in the 4th quarter. International Assets Investment Management LLC now owns 301,879 shares of the restaurant operator’s stock valued at $6,903,850,000 after purchasing an additional 301,742 shares during the last quarter. Wellington Management Group LLP boosted its holdings in Chipotle Mexican Grill by 41.6% in the third quarter. Wellington Management Group LLP now owns 397,182 shares of the restaurant operator’s stock worth $727,570,000 after purchasing an additional 116,723 shares in the last quarter. Global Assets Advisory LLC acquired a new position in Chipotle Mexican Grill during the first quarter worth $167,256,000. Finally, 1832 Asset Management L.P. bought a new position in Chipotle Mexican Grill during the fourth quarter valued at about $100,535,000. 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.