Barclays Boosts Chipotle Mexican Grill (NYSE:CMG) Price Target to $2,865.00

Chipotle Mexican Grill (NYSE:CMG) had its price target increased by Barclays from $2,400.00 to $2,865.00 in a research report released on Thursday, Benzinga reports. The brokerage currently has an equal weight rating on the restaurant operator’s stock.

Several other equities research analysts have also recently issued reports on CMG. Piper Sandler raised their target price on Chipotle Mexican Grill from $2,442.00 to $3,070.00 and gave the stock a neutral rating in a research note on Thursday. Oppenheimer restated an outperform rating and issued a $3,300.00 price objective (up from $2,825.00) on shares of Chipotle Mexican Grill in a report on Thursday. TD Cowen increased 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. Raymond James restated an outperform rating and issued a $3,340.00 price objective (up from $3,300.00) on shares of Chipotle Mexican Grill in a report on Thursday. Finally, Wedbush boosted their target price on Chipotle Mexican Grill from $2,850.00 to $3,200.00 and gave the company a neutral rating in a research report on Thursday. Ten research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average price target of $3,137.12.

Chipotle Mexican Grill Stock Performance

NYSE CMG opened at $3,186.97 on Thursday. Chipotle Mexican Grill has a fifty-two week low of $1,768.64 and a fifty-two week high of $3,199.99. The firm has a market capitalization of $87.55 billion, a P/E ratio of 68.01, a price-to-earnings-growth ratio of 2.67 and a beta of 1.28. The stock’s fifty day moving average is $2,822.95 and its two-hundred day moving average is $2,430.22.

Chipotle Mexican Grill shares are set 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 market closes on Tuesday, June 25th.

Chipotle Mexican Grill (NYSE:CMG) last issued its earnings results on Wednesday, April 24th. The restaurant operator reported $13.37 EPS for the quarter, topping analysts’ consensus estimates of $11.63 by $1.74. Chipotle Mexican Grill had a net margin of 12.70% and a return on equity of 43.74%. The company had revenue of $2.70 billion for the quarter, compared to the consensus estimate of $2.67 billion. As a group, sell-side analysts forecast that Chipotle Mexican Grill will post 55.08 EPS for the current year.

Insider Transactions at Chipotle Mexican Grill

In related news, 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 sale, the insider now owns 1,529 shares in the company, valued at $4,009,420.25. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related 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 sale, the insider now directly owns 1,529 shares in the company, valued at approximately $4,009,420.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Albert S. Baldocchi sold 750 shares of the company’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $2,608.51, for a total transaction of $1,956,382.50. Following the completion of the transaction, the director now owns 37,271 shares of the company’s stock, valued at approximately $97,221,776.21. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,793 shares of company stock valued at $18,321,152. 0.96% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Chipotle Mexican Grill

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CMG. IFP Advisors Inc increased its holdings in shares of Chipotle Mexican Grill by 13.6% in the 3rd quarter. IFP Advisors Inc now owns 134 shares of the restaurant operator’s stock valued at $245,000 after acquiring an additional 16 shares during the period. Flagship Harbor Advisors LLC purchased a new position in Chipotle Mexican Grill during the 3rd quarter worth $203,000. DAVENPORT & Co LLC increased its stake in Chipotle Mexican Grill by 9.4% in the third quarter. DAVENPORT & Co LLC now owns 291 shares of the restaurant operator’s stock valued at $533,000 after purchasing an additional 25 shares during the period. Meridian Wealth Management LLC raised its holdings in shares of Chipotle Mexican Grill by 291.2% in the third quarter. Meridian Wealth Management LLC now owns 442 shares of the restaurant operator’s stock valued at $810,000 after buying an additional 329 shares during the last quarter. Finally, Caprock Group LLC boosted its stake in shares of Chipotle Mexican Grill by 4.0% during the third quarter. Caprock Group LLC now owns 208 shares of the restaurant operator’s stock worth $381,000 after buying an additional 8 shares during the period. Hedge funds and other 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.