Chipotle Mexican Grill (NYSE:CMG) Given New $3,070.00 Price Target at Piper Sandler

Chipotle Mexican Grill (NYSE:CMG) had its price target hoisted by Piper Sandler from $2,442.00 to $3,070.00 in a report published on Thursday morning, Benzinga reports. The firm currently has a neutral rating on the restaurant operator’s stock.

CMG has been the topic of several other reports. UBS Group upped their price target on shares of Chipotle Mexican Grill from $2,900.00 to $3,400.00 and gave the stock a buy rating in a research report on Thursday, April 11th. Wedbush raised their target price on shares of Chipotle Mexican Grill from $2,850.00 to $3,200.00 and gave the stock a neutral rating in a research note on Thursday. Robert W. Baird raised their target price on shares of Chipotle Mexican Grill from $3,250.00 to $3,500.00 and gave the stock an outperform rating in a research note on Thursday. TD Cowen raised their target price on shares of Chipotle Mexican Grill from $3,400.00 to $3,500.00 and gave the stock a buy rating in a research note on Thursday. Finally, Stephens lifted their price objective on shares of Chipotle Mexican Grill from $3,010.00 to $3,050.00 and gave the stock an equal weight rating in a research note on Thursday. Eleven investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Chipotle Mexican Grill has a consensus rating of Moderate Buy and an average target price of $3,057.68.

Chipotle Mexican Grill Stock Up 1.4 %

CMG traded up $44.54 during trading hours on Thursday, hitting $3,156.51. 23,849 shares of the company’s stock were exchanged, compared to its average volume of 238,875. Chipotle Mexican Grill has a 1-year low of $1,768.64 and a 1-year high of $3,175.00. The stock’s 50-day moving average is $2,811.11 and its two-hundred day moving average is $2,416.65. The stock has a market cap of $86.71 billion, a price-to-earnings ratio of 67.09, a PEG ratio of 2.48 and a beta of 1.28.

Shares of Chipotle Mexican Grill are going to split on Wednesday, June 26th. The 50-1 split was announced on Tuesday, March 19th. The newly issued shares will be distributed to shareholders after the closing bell on Tuesday, June 25th.

Chipotle Mexican Grill (NYSE:CMG) last announced its earnings results on Wednesday, April 24th. The restaurant operator reported $13.37 EPS for the quarter, topping the consensus estimate of $11.63 by $1.74. Chipotle Mexican Grill had a net margin of 12.70% and a return on equity of 45.46%. The business had revenue of $2.70 billion during the quarter, compared to analysts’ expectations of $2.67 billion. On average, equities research analysts anticipate that Chipotle Mexican Grill will post 53.49 EPS for the current year.

Insiders Place Their Bets

In other Chipotle Mexican Grill news, insider Christopher W. Brandt sold 3,149 shares of the business’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 sale, 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 Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Christopher W. Brandt sold 3,149 shares of the business’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 value of $9,219,768.16. Following the transaction, the insider now owns 8,563 shares in the company, valued at approximately $25,071,093.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Roger E. Theodoredis sold 898 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $2,622.25, for a total transaction of $2,354,780.50. Following the completion of the transaction, the insider now owns 1,529 shares in the company, valued at approximately $4,009,420.25. The disclosure for this sale can be found here. Insiders have sold 6,793 shares of company stock valued at $18,321,152 in the last ninety days. 0.96% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of CMG. Northern Trust Corp lifted its position in shares of Chipotle Mexican Grill by 5.0% during the 3rd quarter. Northern Trust Corp now owns 283,203 shares of the restaurant operator’s stock valued at $518,780,000 after acquiring an additional 13,513 shares during the period. Covestor Ltd lifted its position in shares of Chipotle Mexican Grill by 9.2% during the 3rd quarter. Covestor Ltd now owns 95 shares of the restaurant operator’s stock valued at $174,000 after acquiring an additional 8 shares during the period. NewEdge Wealth LLC acquired a new position in shares of Chipotle Mexican Grill during the 3rd quarter valued at $205,000. Laidlaw Wealth Management LLC increased its stake in Chipotle Mexican Grill by 69.8% during the 3rd quarter. Laidlaw Wealth Management LLC now owns 270 shares of the restaurant operator’s stock valued at $495,000 after purchasing an additional 111 shares in the last quarter. Finally, Clearstead Advisors LLC increased its stake in Chipotle Mexican Grill by 0.7% during the 3rd quarter. Clearstead Advisors LLC now owns 773 shares of the restaurant operator’s stock valued at $1,416,000 after purchasing an additional 5 shares in the last quarter. Institutional investors and hedge funds own 91.31% 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. 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.