Chipotle Mexican Grill (NYSE:CMG) PT Raised to $3,100.00 at Morgan Stanley

Chipotle Mexican Grill (NYSE:CMG) had its target price upped by investment analysts at Morgan Stanley from $2,986.00 to $3,100.00 in a report released on Thursday, Benzinga reports. The firm presently has an “equal weight” rating on the restaurant operator’s stock. Morgan Stanley’s price objective would indicate a potential downside of 2.80% from the stock’s previous close.

CMG has been the topic of several other reports. BTIG Research boosted their target price on Chipotle Mexican Grill from $2,750.00 to $3,250.00 and gave the stock a “buy” rating in a report on Thursday, March 28th. TD Cowen boosted their price objective on Chipotle Mexican Grill from $3,400.00 to $3,500.00 and gave the stock a “buy” rating in a research note 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 note on Tuesday, March 26th. Wedbush lifted their price target on Chipotle Mexican Grill from $2,850.00 to $3,200.00 and gave the company a “neutral” rating in a report on Thursday. Finally, Piper Sandler increased 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 analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat.com, Chipotle Mexican Grill has an average rating of “Moderate Buy” and an average target price of $3,137.12.

Chipotle Mexican Grill Price Performance

Shares of CMG stock opened at $3,189.40 on Thursday. The firm has a market cap of $87.61 billion, a price-to-earnings ratio of 68.06, a P/E/G ratio of 2.60 and a beta of 1.28. The stock’s fifty day simple moving average is $2,822.95 and its 200 day simple moving average is $2,426.07. Chipotle Mexican Grill has a one year low of $1,768.64 and a one year high of $3,199.99.

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

Chipotle Mexican Grill (NYSE:CMG) last announced its quarterly earnings results on Wednesday, April 24th. The restaurant operator reported $13.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $11.63 by $1.74. The firm had revenue of $2.70 billion during the quarter, compared to the consensus estimate of $2.67 billion. Chipotle Mexican Grill had a net margin of 12.70% and a return on equity of 43.74%. On average, research analysts anticipate that Chipotle Mexican Grill will post 54.07 earnings per share for the current year.

Insider Transactions at Chipotle Mexican Grill

In related news, insider Christopher W. Brandt sold 3,149 shares of the company’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $2,927.84, for a total value of $9,219,768.16. Following the completion of the sale, the insider now owns 8,563 shares in the company, valued at $25,071,093.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Albert S. Baldocchi sold 750 shares of the stock in a transaction that occurred on Wednesday, February 14th. The shares were 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 in the company, valued at approximately $97,221,776.21. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 transaction, the insider now owns 8,563 shares of the company’s stock, valued at approximately $25,071,093.92. The disclosure for this sale can be found here. Insiders have sold 6,793 shares of company stock worth $18,321,152 in the last three months. Insiders own 0.96% of the company’s stock.

Institutional Investors Weigh In On Chipotle Mexican Grill

Several hedge funds have recently bought and sold shares of the company. Northern Trust Corp increased its position in shares of Chipotle Mexican Grill by 5.0% in the 3rd quarter. Northern Trust Corp now owns 283,203 shares of the restaurant operator’s stock valued at $518,780,000 after buying an additional 13,513 shares in the last quarter. Covestor Ltd increased its holdings in shares of Chipotle Mexican Grill by 9.2% in the third quarter. Covestor Ltd now owns 95 shares of the restaurant operator’s stock worth $174,000 after acquiring an additional 8 shares in the last quarter. NewEdge Wealth LLC acquired a new stake in shares of Chipotle Mexican Grill during the third quarter worth about $205,000. Laidlaw Wealth Management LLC lifted its holdings in shares of 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 grew its position in shares of Chipotle Mexican Grill by 0.7% in 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 during the period. 91.31% of the stock is currently owned by institutional investors and hedge funds.

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.