Chipotle Mexican Grill (NYSE:CMG) Price Target Raised to $3,440.00 at Truist Financial

Chipotle Mexican Grill (NYSE:CMG) had its price objective hoisted by Truist Financial from $3,250.00 to $3,440.00 in a research report report published on Thursday, Benzinga reports. They currently have a buy rating on the restaurant operator’s stock.

Other analysts have also recently issued research reports about the stock. Wedbush lifted their price objective 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. Barclays raised their price objective on Chipotle Mexican Grill from $2,400.00 to $2,865.00 and gave the stock an equal weight rating in a research note on Thursday. UBS Group increased their target price on Chipotle Mexican Grill from $3,400.00 to $3,500.00 and gave the stock a buy rating in a report on Thursday. Robert W. Baird upped their price objective on shares of Chipotle Mexican Grill from $3,250.00 to $3,500.00 and gave the stock an outperform rating in a research report on Thursday. Finally, Morgan Stanley raised their target price on shares of Chipotle Mexican Grill from $2,986.00 to $3,100.00 and gave the company an equal weight rating in a report on Thursday. Ten equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus 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. 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 firm has a 50-day moving average of $2,822.95 and a 200-day moving average of $2,430.22. Chipotle Mexican Grill has a 52-week low of $1,768.64 and a 52-week high of $3,199.99.

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 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 earnings per share for the quarter, topping analysts’ consensus estimates of $11.63 by $1.74. The company had revenue of $2.70 billion for the quarter, compared to analyst estimates 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 55.08 EPS for the current fiscal year.

Insider Transactions at Chipotle Mexican Grill

In other news, insider Roger E. Theodoredis sold 898 shares of the company’s stock in a transaction dated Thursday, February 8th. The stock was 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 in the company, valued at approximately $4,009,420.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Roger E. Theodoredis sold 898 shares of the business’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 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 SEC, which is available at this hyperlink. Also, Director Albert S. Baldocchi sold 750 shares of Chipotle Mexican Grill stock in a transaction on Wednesday, February 14th. The stock was 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 in the company, 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. Corporate insiders own 0.96% of the company’s stock.

Hedge Funds Weigh In On Chipotle Mexican Grill

A number of large investors have recently bought and sold shares of the stock. Northwest Bancshares Inc. bought a new position in shares of Chipotle Mexican Grill in the first quarter worth approximately $331,000. SlateStone Wealth LLC purchased a new position in shares of Chipotle Mexican Grill in the first quarter valued at about $265,000. Mesirow Financial Investment Management Inc. bought a new position in shares of Chipotle Mexican Grill during the first quarter valued at about $230,000. Emerald Advisors LLC purchased a new stake in shares of Chipotle Mexican Grill during the first quarter worth about $872,000. Finally, Meridian Wealth Management LLC grew its stake in shares of Chipotle Mexican Grill by 4.0% in the first quarter. Meridian Wealth Management LLC now owns 234 shares of the restaurant operator’s stock worth $680,000 after purchasing an additional 9 shares during the last quarter. 91.31% of the stock is owned by hedge funds and other institutional investors.

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.