Chipotle Mexican Grill (NYSE:CMG) Price Target Raised to $3,300.00

Chipotle Mexican Grill (NYSE:CMG) had its target price raised by Wells Fargo & Company from $3,285.00 to $3,300.00 in a research report report published on Thursday morning, Benzinga reports. Wells Fargo & Company currently has an overweight rating on the restaurant operator’s stock.

Several other research analysts also recently issued reports on the stock. Jefferies Financial Group upped their price target on shares of Chipotle Mexican Grill from $2,350.00 to $2,700.00 and gave the stock a hold rating in a report on Tuesday, April 16th. Robert W. Baird increased their target price on Chipotle Mexican Grill from $3,250.00 to $3,500.00 and gave the company an outperform rating in a research report on Thursday. UBS Group boosted their price target on Chipotle Mexican Grill from $2,900.00 to $3,400.00 and gave the stock a buy rating in a report on Thursday, April 11th. Wedbush raised their price objective on shares of Chipotle Mexican Grill from $2,850.00 to $3,200.00 and gave the company a neutral rating in a report on Thursday. Finally, Stifel Nicolaus boosted their target price on shares of Chipotle Mexican Grill from $2,700.00 to $3,270.00 and gave the stock a buy rating in a report on Thursday, April 11th. Ten analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of Moderate Buy and an average price target of $3,137.12.

Chipotle Mexican Grill Stock Up 2.4 %

Shares of CMG stock opened at $3,186.97 on Thursday. The business has a fifty day simple moving average of $2,822.95 and a 200 day simple moving average of $2,434.49. The company has a market cap of $87.55 billion, a P/E ratio of 68.01, a P/E/G ratio of 2.67 and a beta of 1.28. Chipotle Mexican Grill has a twelve month low of $1,768.64 and a twelve month high of $3,199.99.

Shares of Chipotle Mexican Grill are scheduled to split on the morning of Wednesday, June 26th. The 50-1 split was announced on Tuesday, March 19th. The newly issued shares will be distributed to shareholders after the closing bell on Tuesday, June 25th.

Chipotle Mexican Grill (NYSE:CMG) last posted its quarterly earnings results on Wednesday, April 24th. The restaurant operator reported $13.37 earnings per share for the quarter, beating analysts’ consensus estimates of $11.63 by $1.74. The company had revenue of $2.70 billion for the quarter, compared to the consensus estimate of $2.67 billion. Chipotle Mexican Grill had a net margin of 12.70% and a return on equity of 43.74%. As a group, equities research analysts anticipate that Chipotle Mexican Grill will post 55.08 earnings per share for the current fiscal year.

Insider Transactions at Chipotle Mexican Grill

In related news, 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 sale, the director now directly owns 37,271 shares in the company, valued at $97,221,776.21. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Albert S. Baldocchi sold 750 shares of the firm’s stock in a transaction dated 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 sale, the director now owns 37,271 shares in the company, valued at $97,221,776.21. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Christopher W. Brandt sold 3,149 shares of the business’s 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 transaction, the insider now owns 8,563 shares in the company, valued at $25,071,093.92. 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 90 days. Insiders own 0.96% of the company’s stock.

Institutional Trading of Chipotle Mexican Grill

Several hedge funds have recently made changes to their positions in the company. Northwest Bancshares Inc. purchased a new stake in Chipotle Mexican Grill in the 1st quarter worth about $331,000. SlateStone Wealth LLC purchased a new position in shares of Chipotle Mexican Grill in the first quarter worth about $265,000. Mesirow Financial Investment Management Inc. bought a new stake in shares of Chipotle Mexican Grill in the first quarter valued at approximately $230,000. Emerald Advisors LLC purchased a new stake in shares of Chipotle Mexican Grill during the 1st quarter valued at approximately $872,000. Finally, Meridian Wealth Management LLC boosted its holdings in Chipotle Mexican Grill by 4.0% in the 1st quarter. Meridian Wealth Management LLC now owns 234 shares of the restaurant operator’s stock worth $680,000 after buying an additional 9 shares during the period. 91.31% of the stock is currently owned by institutional investors.

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.