KeyCorp Boosts Chipotle Mexican Grill (NYSE:CMG) Price Target to $2,750.00

Chipotle Mexican Grill (NYSE:CMGFree Report) had its price objective increased by KeyCorp from $2,250.00 to $2,750.00 in a research note published on Wednesday, Benzinga reports. KeyCorp currently has an overweight rating on the restaurant operator’s stock.

Other equities research analysts have also issued reports about the stock. Morgan Stanley boosted their price objective on shares of Chipotle Mexican Grill from $2,010.00 to $2,070.00 and gave the company an equal weight rating in a report on Friday, October 27th. TD Cowen reissued an outperform rating and set a $2,200.00 price objective on shares of Chipotle Mexican Grill in a report on Friday, October 27th. Piper Sandler boosted their price objective on shares of Chipotle Mexican Grill from $1,930.00 to $2,226.00 and gave the company a neutral rating in a report on Tuesday, January 16th. Citigroup boosted their price objective on shares of Chipotle Mexican Grill from $2,292.00 to $2,699.00 and gave the company a buy rating in a report on Wednesday, January 24th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Chipotle Mexican Grill in a report on Thursday, October 19th. They set a buy rating and a $2,375.00 price objective on the stock. Nine investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus target price of $2,438.41.

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Chipotle Mexican Grill Stock Performance

Chipotle Mexican Grill stock opened at $2,663.02 on Wednesday. The company has a 50 day moving average price of $2,310.02 and a 200-day moving average price of $2,072.70. Chipotle Mexican Grill has a fifty-two week low of $1,470.05 and a fifty-two week high of $2,725.83. The company has a market capitalization of $73.07 billion, a PE ratio of 63.16, a P/E/G ratio of 1.82 and a beta of 1.29.

Chipotle Mexican Grill (NYSE:CMGGet Free Report) last issued its quarterly earnings data on Tuesday, February 6th. The restaurant operator reported $10.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.73 by $0.63. Chipotle Mexican Grill had a net margin of 12.27% and a return on equity of 45.26%. The company had revenue of $2.52 billion for the quarter, compared to analyst estimates of $2.49 billion. During the same period last year, the company posted $8.29 earnings per share. Chipotle Mexican Grill’s revenue was up 15.4% compared to the same quarter last year. On average, analysts forecast that Chipotle Mexican Grill will post 44.16 earnings per share for the current year.

Insider Transactions at Chipotle Mexican Grill

In related news, CEO Brian R. Niccol sold 1,093 shares of the business’s stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $2,199.81, for a total transaction of $2,404,392.33. Following the sale, the chief executive officer now owns 23,347 shares of the company’s stock, valued at $51,358,964.07. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Chipotle Mexican Grill news, CEO Brian R. Niccol sold 1,996 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer now owns 22,447 shares of the company’s stock, valued at $53,870,779.77. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Brian R. Niccol sold 1,093 shares of the company’s stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $2,199.81, for a total transaction of $2,404,392.33. Following the completion of the sale, the chief executive officer now directly owns 23,347 shares in the company, valued at approximately $51,358,964.07. The disclosure for this sale can be found here. Insiders have sold a total of 4,189 shares of company stock worth $9,700,908 over the last ninety days. 0.96% of the stock is currently owned by company insiders.

Institutional Trading of Chipotle Mexican Grill

Several institutional investors and hedge funds have recently modified their holdings of CMG. Norges Bank purchased a new position in shares of Chipotle Mexican Grill during the fourth quarter valued at approximately $450,560,000. International Assets Investment Management LLC increased its position in Chipotle Mexican Grill by 220,249.6% during the fourth quarter. International Assets Investment Management LLC now owns 301,879 shares of the restaurant operator’s stock worth $6,903,850,000 after purchasing an additional 301,742 shares during the last quarter. Moneta Group Investment Advisors LLC acquired a new position in Chipotle Mexican Grill during the fourth quarter worth approximately $248,604,000. Morgan Stanley increased its position in Chipotle Mexican Grill by 65.8% during the fourth quarter. Morgan Stanley now owns 375,736 shares of the restaurant operator’s stock worth $521,332,000 after purchasing an additional 149,115 shares during the last quarter. Finally, Renaissance Technologies LLC increased its position in Chipotle Mexican Grill by 2,334.9% during the second quarter. Renaissance Technologies LLC now owns 153,400 shares of the restaurant operator’s stock worth $328,123,000 after purchasing an additional 147,100 shares during the last quarter. Hedge funds and other institutional investors own 91.19% of the company’s stock.

About Chipotle Mexican Grill

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Chipotle Mexican Grill, Inc, together with its subsidiaries, owns and operates Chipotle Mexican Grill restaurants. It offers burritos, burrito bowls, quesadillas, tacos, and salads. The company was founded in 1993 and is headquartered in Newport Beach, California.

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