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

Chipotle Mexican Grill (NYSE:CMG) had its target price hoisted by investment analysts at JPMorgan Chase & Co. from $2,500.00 to $2,750.00 in a note issued to investors on Thursday, Benzinga reports. The firm presently has a “neutral” rating on the restaurant operator’s stock. JPMorgan Chase & Co.‘s target price would suggest a potential downside of 13.78% from the company’s current price.

A number of other analysts have also recently issued reports on the company. UBS Group upped their target price on Chipotle Mexican Grill from $3,400.00 to $3,500.00 and gave the company a “buy” rating in a research report on Thursday. Morgan Stanley upped their target price on Chipotle Mexican Grill from $2,986.00 to $3,100.00 and gave the company an “equal weight” rating in a research report on Thursday. Evercore ISI upped their target price on Chipotle Mexican Grill from $3,200.00 to $3,600.00 and gave the company an “outperform” rating in a research report on Thursday. Argus upped their target price on Chipotle Mexican Grill from $3,265.00 to $3,366.00 and gave the company a “buy” rating in a research report on Thursday, April 4th. Finally, Truist Financial upped their target price on 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. Ten analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $3,137.12.

Chipotle Mexican Grill Stock Performance

CMG opened at $3,189.40 on Thursday. Chipotle Mexican Grill has a one year low of $1,768.64 and a one year high of $3,199.99. The company has a market cap of $87.61 billion, a P/E ratio of 68.06, a PEG ratio of 2.60 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 $2,426.07.

Chipotle Mexican Grill’s stock is going to split on the morning of Wednesday, June 26th. The 50-1 split was announced on Tuesday, March 19th. The newly issued shares will be distributed to shareholders after the market closes on Tuesday, June 25th.

Chipotle Mexican Grill (NYSE:CMG) last released its quarterly earnings data on Wednesday, April 24th. The restaurant operator reported $13.37 EPS for the quarter, beating analysts’ consensus estimates of $11.63 by $1.74. The business had revenue of $2.70 billion for the quarter, compared to the consensus estimate of $2.67 billion. Chipotle Mexican Grill had a return on equity of 43.74% and a net margin of 12.70%. As a group, analysts predict that Chipotle Mexican Grill will post 54.07 earnings per share for the current fiscal year.

Insider Transactions at Chipotle Mexican Grill

In other news, CEO Brian R. Niccol sold 1,996 shares of the stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $2,399.91, for a total transaction of $4,790,220.36. Following the completion of the transaction, the chief executive officer now directly owns 22,447 shares of the company’s stock, valued at approximately $53,870,779.77. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CEO Brian R. Niccol sold 1,996 shares of the stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $2,399.91, for a total transaction of $4,790,220.36. Following the completion of the transaction, the chief executive officer now directly owns 22,447 shares of the company’s stock, valued at approximately $53,870,779.77. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Roger E. Theodoredis sold 898 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $2,622.25, for a total value of $2,354,780.50. Following the completion of the transaction, the insider now directly owns 1,529 shares of the company’s stock, valued at $4,009,420.25. The disclosure for this sale can be found here. In the last three months, insiders sold 6,793 shares of company stock valued at $18,321,152. Corporate insiders own 0.96% of the company’s stock.

Hedge Funds Weigh In On Chipotle Mexican Grill

Several hedge funds have recently bought and sold shares of CMG. Byrne Asset Management LLC increased its position in Chipotle Mexican Grill by 11.8% during the first quarter. Byrne Asset Management LLC now owns 38 shares of the restaurant operator’s stock worth $110,000 after buying an additional 4 shares in the last quarter. Evermay Wealth Management LLC increased its position in Chipotle Mexican Grill by 1.8% during the fourth quarter. Evermay Wealth Management LLC now owns 231 shares of the restaurant operator’s stock worth $528,000 after buying an additional 4 shares in the last quarter. Peloton Wealth Strategists increased its position in Chipotle Mexican Grill by 0.3% during the fourth quarter. Peloton Wealth Strategists now owns 1,451 shares of the restaurant operator’s stock worth $3,318,000 after buying an additional 4 shares in the last quarter. Diversified Trust Co boosted its holdings in shares of Chipotle Mexican Grill by 0.9% during the first quarter. Diversified Trust Co now owns 474 shares of the restaurant operator’s stock worth $1,378,000 after purchasing an additional 4 shares during the last quarter. Finally, Valley National Advisers Inc. boosted its holdings in shares of Chipotle Mexican Grill by 9.8% during the first quarter. Valley National Advisers Inc. now owns 45 shares of the restaurant operator’s stock worth $131,000 after purchasing an additional 4 shares during the last quarter. 91.31% of the stock is owned by hedge funds and other institutional investors.

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.