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

Chipotle Mexican Grill (NYSE:CMG) had its price target increased by Truist Financial from $3,250.00 to $3,440.00 in a research note published on Thursday, Benzinga reports. The brokerage currently has a buy rating on the restaurant operator’s stock.

Other equities analysts have also issued research reports about the company. Argus raised their target price on Chipotle Mexican Grill from $3,265.00 to $3,366.00 and gave the stock a buy rating in a research note on Thursday, April 4th. Barclays raised their target price 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. Robert W. Baird raised their target price on Chipotle Mexican Grill from $3,250.00 to $3,500.00 and gave the stock an outperform rating in a research note on Thursday. TD Cowen raised their target price on Chipotle Mexican Grill from $3,400.00 to $3,500.00 and gave the stock a buy rating in a research note on Thursday. Finally, JPMorgan Chase & Co. raised their target price on Chipotle Mexican Grill from $2,500.00 to $2,750.00 and gave the stock a neutral rating in a research note on Thursday. Ten investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus price target of $3,137.12.

Chipotle Mexican Grill Stock Up 2.4 %

Shares of NYSE:CMG opened at $3,186.97 on Thursday. The stock has a market cap 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. Chipotle Mexican Grill has a 52-week low of $1,768.64 and a 52-week high of $3,199.99. The business’s 50 day moving average is $2,822.95 and its 200 day moving average is $2,434.49.

Chipotle Mexican Grill’s stock is set to split on Wednesday, June 26th. The 50-1 split was announced on Tuesday, March 19th. The newly created shares will be distributed to shareholders after the closing bell on Tuesday, June 25th.

Chipotle Mexican Grill (NYSE:CMG) last posted its quarterly earnings data 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 analysts’ expectations of $2.67 billion. Chipotle Mexican Grill had a return on equity of 43.74% and a net margin of 12.70%. On average, sell-side analysts anticipate that Chipotle Mexican Grill will post 55.08 EPS for the current fiscal year.

Insider Activity

In other news, insider Christopher W. Brandt sold 3,149 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $2,927.84, for a total transaction of $9,219,768.16. Following the sale, the insider now directly owns 8,563 shares in the company, valued at approximately $25,071,093.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Christopher W. Brandt sold 3,149 shares of Chipotle Mexican Grill stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $2,927.84, for a total value of $9,219,768.16. Following the sale, the insider now directly owns 8,563 shares in the company, valued at approximately $25,071,093.92. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Albert S. Baldocchi sold 750 shares of Chipotle Mexican Grill stock in a transaction dated 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 owns 37,271 shares in the company, valued at $97,221,776.21. The disclosure for this sale can be found here. Insiders have sold 4,797 shares of company stock worth $13,530,931 in the last ninety days. Company insiders own 0.96% of the company’s stock.

Institutional Trading of Chipotle Mexican Grill

A number of large investors have recently modified their holdings of the stock. Northwest Bancshares Inc. purchased a new stake in shares of Chipotle Mexican Grill during the first quarter worth $331,000. SlateStone Wealth LLC purchased a new stake in shares of Chipotle Mexican Grill during the first quarter worth $265,000. Mesirow Financial Investment Management Inc. purchased a new stake in shares of Chipotle Mexican Grill during the first quarter worth $230,000. Emerald Advisors LLC purchased a new stake in shares of Chipotle Mexican Grill during the first quarter worth $872,000. Finally, Meridian Wealth Management LLC increased its position in shares of Chipotle Mexican Grill by 4.0% during the first quarter. Meridian Wealth Management LLC now owns 234 shares of the restaurant operator’s stock worth $680,000 after acquiring an additional 9 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.