Chipotle Mexican Grill (NYSE:CMG) Price Target Raised to $2,850.00

Chipotle Mexican Grill (NYSE:CMG) had its target price boosted by BMO Capital Markets from $2,400.00 to $2,850.00 in a research note issued to investors on Thursday, Benzinga reports. BMO Capital Markets currently has a market perform rating on the restaurant operator’s stock.

A number of other brokerages have also weighed in on CMG. Piper Sandler raised their price objective on Chipotle Mexican Grill from $2,442.00 to $3,070.00 and gave the company a neutral rating in a research report on Thursday. Wells Fargo & Company lifted their price objective on Chipotle Mexican Grill from $3,285.00 to $3,300.00 and gave the stock an overweight 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 company an outperform rating in a report on Thursday. KeyCorp upped their price target on shares of Chipotle Mexican Grill from $3,250.00 to $3,400.00 and gave the company an overweight rating in a research note on Thursday. Finally, Truist Financial boosted their target price on shares of Chipotle Mexican Grill from $2,700.00 to $2,920.00 and gave the stock a buy rating in a report on Wednesday, February 7th. Ten equities 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 currently has an average rating of Moderate Buy and a consensus target price of $3,137.12.

Chipotle Mexican Grill Trading Up 2.4 %

NYSE CMG opened at $3,186.97 on Thursday. Chipotle Mexican Grill has a 12 month low of $1,768.64 and a 12 month high of $3,199.99. The stock has a market cap of $87.55 billion, a PE ratio of 68.01, a P/E/G ratio of 2.67 and a beta of 1.28. The stock’s 50 day moving average is $2,822.95 and its 200 day moving average is $2,430.22.

Chipotle Mexican Grill’s stock is set to split before the market opens on Wednesday, June 26th. The 50-1 split was announced on Tuesday, March 19th. The newly minted shares will be payable 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 earnings per share for the quarter, topping analysts’ consensus estimates of $11.63 by $1.74. The firm had revenue of $2.70 billion during the quarter, compared to analyst estimates of $2.67 billion. Chipotle Mexican Grill had a net margin of 12.70% and a return on equity of 43.74%. On average, analysts forecast that Chipotle Mexican Grill will post 55.08 EPS for the current fiscal year.

Insider Transactions at Chipotle Mexican Grill

In related news, insider Christopher W. Brandt sold 3,149 shares of Chipotle Mexican Grill stock in a transaction dated 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 completion of the sale, the insider now owns 8,563 shares in the company, valued at approximately $25,071,093.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, insider Christopher W. Brandt sold 3,149 shares of Chipotle Mexican Grill 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 completion of the sale, the insider now owns 8,563 shares of the company’s stock, valued at $25,071,093.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Albert S. Baldocchi sold 750 shares of the business’s 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 completion of the sale, 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. Over the last ninety days, insiders have sold 6,793 shares of company stock worth $18,321,152. Insiders own 0.96% of the company’s stock.

Hedge Funds Weigh In On Chipotle Mexican Grill

Several institutional investors have recently made changes to their positions in CMG. Norges Bank bought a new position in Chipotle Mexican Grill during the 4th quarter worth about $805,529,000. International Assets Investment Management LLC boosted its stake in shares of Chipotle Mexican Grill by 220,249.6% during the fourth quarter. International Assets Investment Management LLC now owns 301,879 shares of the restaurant operator’s stock valued at $6,903,850,000 after purchasing an additional 301,742 shares in the last quarter. Wellington Management Group LLP increased its holdings in Chipotle Mexican Grill by 41.6% during the third quarter. Wellington Management Group LLP now owns 397,182 shares of the restaurant operator’s stock valued at $727,570,000 after buying an additional 116,723 shares during the period. Global Assets Advisory LLC purchased a new stake in Chipotle Mexican Grill during the first quarter worth $167,256,000. Finally, 1832 Asset Management L.P. bought a new stake in Chipotle Mexican Grill during the 4th quarter valued at $100,535,000. 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.