Robert W. Baird Increases Chipotle Mexican Grill (NYSE:CMG) Price Target to $3,500.00

Chipotle Mexican Grill (NYSE:CMG) had its price objective hoisted by investment analysts at Robert W. Baird from $3,250.00 to $3,500.00 in a research report issued on Thursday, Benzinga reports. The brokerage presently has an “outperform” rating on the restaurant operator’s stock. Robert W. Baird’s price target suggests a potential upside of 9.74% from the company’s previous close.

CMG has been the topic of a number of other research reports. Evercore ISI upped their price target on Chipotle Mexican Grill from $2,900.00 to $3,200.00 and gave the stock an “outperform” rating in a report on Thursday, April 18th. 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 note on Thursday, April 4th. UBS Group upped their target price on Chipotle Mexican Grill from $2,900.00 to $3,400.00 and gave the company a “buy” rating in a research note on Thursday, April 11th. Oppenheimer upped their target price on Chipotle Mexican Grill from $2,225.00 to $2,525.00 and gave the company an “outperform” rating in a research note on Friday, January 5th. Finally, Piper Sandler upped their target price on Chipotle Mexican Grill from $1,930.00 to $2,226.00 and gave the company a “neutral” rating in a research note on Tuesday, January 16th. Ten 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 stock currently has an average rating of “Moderate Buy” and an average target price of $3,137.12.

Chipotle Mexican Grill Price Performance

CMG opened at $3,189.40 on Thursday. The stock has a market cap of $87.60 billion, a P/E ratio of 68.06, a P/E/G ratio of 2.48 and a beta of 1.28. The stock’s 50 day simple moving average is $2,822.95 and its 200 day simple moving average is $2,426.07. Chipotle Mexican Grill has a 1-year low of $1,768.64 and a 1-year high of $3,199.99.

Chipotle Mexican Grill shares are going to split before the market opens on 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 released its quarterly 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 business had revenue of $2.70 billion for the quarter, compared to analysts’ expectations of $2.67 billion. Chipotle Mexican Grill had a return on equity of 45.46% and a net margin of 12.70%. Research analysts expect that Chipotle Mexican Grill will post 53.49 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Brian R. Niccol sold 1,996 shares of the stock in a transaction on Monday, January 29th. The stock was sold at an average price of $2,399.91, for a total value of $4,790,220.36. Following 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 filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Albert S. Baldocchi sold 750 shares of the stock in a transaction on Wednesday, February 14th. The stock was 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 directly owns 37,271 shares in the company, valued at approximately $97,221,776.21. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Brian R. Niccol sold 1,996 shares of the stock in a transaction on Monday, January 29th. The shares were sold at an average price of $2,399.91, for a total value of $4,790,220.36. Following the completion of the sale, the chief executive officer now owns 22,447 shares of the company’s stock, valued at $53,870,779.77. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 6,793 shares of company stock valued at $18,321,152. 0.96% of the stock is currently owned by company insiders.

Institutional Trading of Chipotle Mexican Grill

Large investors have recently added to or reduced their stakes in the stock. Steph & Co. acquired a new stake in Chipotle Mexican Grill in the 1st quarter valued at $29,000. Fortitude Family Office LLC acquired a new stake in Chipotle Mexican Grill in the 4th quarter valued at $32,000. Turtle Creek Wealth Advisors LLC acquired a new stake in Chipotle Mexican Grill in the 4th quarter valued at $37,000. ICA Group Wealth Management LLC acquired a new stake in Chipotle Mexican Grill in the 4th quarter valued at $37,000. Finally, Annis Gardner Whiting Capital Advisors LLC acquired a new stake in Chipotle Mexican Grill in the 3rd quarter valued at $38,000. 91.31% of the stock is currently owned by institutional investors and hedge funds.

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.