KeyCorp Boosts Chipotle Mexican Grill (NYSE:CMG) Price Target to $3,400.00

Chipotle Mexican Grill (NYSE:CMG) had its price objective hoisted by KeyCorp from $3,250.00 to $3,400.00 in a report published on Thursday morning, Benzinga reports. They currently have an overweight rating on the restaurant operator’s stock.

A number of other research analysts have also issued reports on the stock. Morgan Stanley boosted 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 research note on Thursday. Oppenheimer reissued an outperform rating and set a $3,300.00 target price (up from $2,825.00) on shares of Chipotle Mexican Grill in a research note on Thursday. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Chipotle Mexican Grill from $3,400.00 to $3,600.00 and gave the company a buy rating in a research note on Thursday. Piper Sandler boosted their target price on shares of Chipotle Mexican Grill from $2,442.00 to $3,070.00 and gave the company a neutral rating in a research note on Thursday. Finally, Sanford C. Bernstein boosted their target price on shares of Chipotle Mexican Grill from $2,800.00 to $3,200.00 and gave the company an outperform rating in a research note on Tuesday, March 26th. Ten research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat, Chipotle Mexican Grill 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. Chipotle Mexican Grill has a one year low of $1,768.64 and a one year high of $3,199.99. The company has a 50-day simple moving average of $2,822.95 and a 200-day simple moving average of $2,434.49. The firm has a market capitalization of $87.55 billion, a PE ratio of 68.01, a price-to-earnings-growth ratio of 2.67 and a beta of 1.28.

Chipotle Mexican Grill shares are going 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 market closes 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 EPS for the quarter, beating the consensus estimate of $11.63 by $1.74. Chipotle Mexican Grill had a net margin of 12.70% and a return on equity of 43.74%. The business had revenue of $2.70 billion during the quarter, compared to analyst estimates of $2.67 billion. Equities analysts forecast that Chipotle Mexican Grill will post 55.08 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Christopher W. Brandt sold 3,149 shares of the business’s 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 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 Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Christopher W. Brandt sold 3,149 shares of the business’s 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 sale, the insider now owns 8,563 shares in the company, valued at $25,071,093.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 transaction of $1,956,382.50. Following the sale, 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. Insiders have sold 4,797 shares of company stock worth $13,530,931 in the last ninety days. 0.96% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Chipotle Mexican Grill

A number of large investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of Chipotle Mexican Grill by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 2,707,233 shares of the restaurant operator’s stock valued at $6,191,334,000 after acquiring an additional 23,151 shares during the period. Capital World Investors grew its position in Chipotle Mexican Grill by 0.8% during the fourth quarter. Capital World Investors now owns 1,125,974 shares of the restaurant operator’s stock valued at $2,575,057,000 after purchasing an additional 8,541 shares in the last quarter. Artisan Partners Limited Partnership grew its position in Chipotle Mexican Grill by 1.5% during the third quarter. Artisan Partners Limited Partnership now owns 509,953 shares of the restaurant operator’s stock valued at $934,147,000 after purchasing an additional 7,677 shares in the last quarter. FMR LLC grew its position in Chipotle Mexican Grill by 5.9% during the third quarter. FMR LLC now owns 449,942 shares of the restaurant operator’s stock valued at $824,217,000 after purchasing an additional 24,991 shares in the last quarter. Finally, American Century Companies Inc. grew its position in Chipotle Mexican Grill by 3.5% during the third quarter. American Century Companies Inc. now owns 399,902 shares of the restaurant operator’s stock valued at $732,552,000 after purchasing an additional 13,482 shares in the last quarter. Institutional investors and hedge funds own 91.31% of the company’s stock.

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.