Deutsche Bank Aktiengesellschaft Increases Chipotle Mexican Grill (NYSE:CMG) Price Target to $1,630.00

Chipotle Mexican Grill (NYSE:CMG) had its price target increased by investment analysts at Deutsche Bank Aktiengesellschaft from $1,495.00 to $1,630.00 in a note issued to investors on Thursday, The Fly reports. The firm presently has a “hold” rating on the restaurant operator’s stock. Deutsche Bank Aktiengesellschaft’s price objective would indicate a potential downside of 7.17% from the company’s previous close.

CMG has been the subject of a number of other reports. Truist Securities raised their price target on shares of Chipotle Mexican Grill from $1,700.00 to $1,750.00 and gave the stock a “buy” rating in a research report on Tuesday, April 6th. Raymond James reissued a “buy” rating and set a $1,800.00 price target on shares of Chipotle Mexican Grill in a research report on Wednesday. KeyCorp raised their price target on shares of Chipotle Mexican Grill from $1,800.00 to $1,850.00 and gave the stock an “overweight” rating in a research report on Wednesday. Cowen raised their price target on shares of Chipotle Mexican Grill from $1,850.00 to $2,080.00 and gave the stock an “outperform” rating in a research report on Wednesday. Finally, Wedbush reissued a “buy” rating and set a $1,800.00 price target on shares of Chipotle Mexican Grill in a research report on Wednesday. Eight investment analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company’s stock. Chipotle Mexican Grill has a consensus rating of “Buy” and an average price target of $1,723.65.

Shares of Chipotle Mexican Grill stock opened at $1,755.99 on Thursday. The stock has a market cap of $49.43 billion, a price-to-earnings ratio of 85.41, a P/E/G ratio of 3.47 and a beta of 1.35. The firm has a 50 day moving average of $1,445.33. Chipotle Mexican Grill has a 52 week low of $1,094.93 and a 52 week high of $1,778.29.

Chipotle Mexican Grill (NYSE:CMG) last announced its quarterly earnings data on Monday, July 19th. The restaurant operator reported $7.46 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $6.52 by $0.94. The firm had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.88 billion. Chipotle Mexican Grill had a net margin of 8.57% and a return on equity of 28.98%. Chipotle Mexican Grill’s revenue was up 38.7% on a year-over-year basis. During the same period last year, the firm posted $0.40 EPS. Sell-side analysts forecast that Chipotle Mexican Grill will post 24.54 EPS for the current fiscal year.

In other Chipotle Mexican Grill news, insider Scott Boatwright sold 1,607 shares of the firm’s stock in a transaction on Monday, July 12th. The stock was sold at an average price of $1,600.00, for a total value of $2,571,200.00. Following the transaction, the insider now owns 11,873 shares in the company, valued at approximately $18,996,800. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Brian R. Niccol sold 7,798 shares of the firm’s stock in a transaction on Monday, July 12th. The shares were sold at an average price of $1,608.22, for a total value of $12,540,899.56. Following the completion of the transaction, the chief executive officer now owns 37,524 shares in the company, valued at approximately $60,346,847.28. The disclosure for this sale can be found here. Insiders sold a total of 12,309 shares of company stock worth $19,365,245 in the last three months. 1.00% of the stock is owned by corporate insiders.

A number of hedge funds have recently made changes to their positions in the business. BlackRock Inc. lifted its holdings in Chipotle Mexican Grill by 0.6% in the 1st quarter. BlackRock Inc. now owns 1,968,073 shares of the restaurant operator’s stock valued at $2,796,276,000 after purchasing an additional 12,673 shares in the last quarter. Edgewood Management LLC lifted its holdings in Chipotle Mexican Grill by 14.5% in the 1st quarter. Edgewood Management LLC now owns 1,283,830 shares of the restaurant operator’s stock valued at $1,824,091,000 after purchasing an additional 162,430 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Chipotle Mexican Grill by 2.9% during the 1st quarter. Geode Capital Management LLC now owns 470,788 shares of the restaurant operator’s stock worth $667,125,000 after acquiring an additional 13,347 shares during the period. Norges Bank purchased a new position in shares of Chipotle Mexican Grill during the 4th quarter worth $355,121,000. Finally, Waddell & Reed Financial Inc. raised its holdings in shares of Chipotle Mexican Grill by 3.3% during the 1st quarter. Waddell & Reed Financial Inc. now owns 231,785 shares of the restaurant operator’s stock worth $329,325,000 after acquiring an additional 7,419 shares during the period. Institutional investors own 89.19% 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. As of December 31, 2020, it owned and operated 2,724 Chipotle restaurants in the United States, 40 international Chipotle restaurants, and 4 non-Chipotle restaurants. The company was founded in 1993 and is headquartered in Newport Beach, California.

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