Chipotle Mexican Grill (NYSE:CMG) PT Raised to $3,358.00

Chipotle Mexican Grill (NYSE:CMG) had its price objective upped by investment analysts at Citigroup from $3,016.00 to $3,358.00 in a research report issued on Monday, Benzinga reports. The brokerage currently has a “buy” rating on the restaurant operator’s stock. Citigroup’s target price points to a potential upside of 14.85% from the company’s previous close.

CMG has been the subject of several other research reports. BMO Capital Markets increased their price target on shares of Chipotle Mexican Grill from $2,100.00 to $2,400.00 and gave the company a “market perform” rating in a research report on Wednesday, February 7th. Argus increased their price target on shares of Chipotle Mexican Grill from $3,265.00 to $3,366.00 and gave the company a “buy” rating in a research report on Thursday, April 4th. Raymond James increased their price target on shares of Chipotle Mexican Grill from $2,450.00 to $2,550.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. Wedbush increased their price target on shares of Chipotle Mexican Grill from $2,400.00 to $2,850.00 and gave the company a “neutral” rating in a research report on Friday, March 22nd. Finally, Piper Sandler increased their price target on shares of Chipotle Mexican Grill from $1,930.00 to $2,226.00 and gave the company a “neutral” rating in a research report on Tuesday, January 16th. Nine analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Chipotle Mexican Grill currently has a consensus rating of “Moderate Buy” and a consensus target price of $2,633.33.

Chipotle Mexican Grill Stock Performance

CMG stock opened at $2,923.84 on Monday. Chipotle Mexican Grill has a 52 week low of $1,664.71 and a 52 week high of $3,023.98. The firm’s fifty day moving average is $2,718.05 and its 200 day moving average is $2,331.79. The firm has a market cap of $80.17 billion, a P/E ratio of 65.93, a P/E/G ratio of 2.49 and a beta of 1.28.

Shares of Chipotle Mexican Grill are going to split on 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 released its earnings results on Tuesday, February 6th. The restaurant operator reported $10.36 EPS for the quarter, beating the consensus estimate of $9.73 by $0.63. Chipotle Mexican Grill had a net margin of 12.45% and a return on equity of 44.41%. The company had revenue of $2.52 billion for the quarter, compared to analyst estimates of $2.49 billion. During the same quarter last year, the firm earned $8.29 EPS. The firm’s quarterly revenue was up 15.4% compared to the same quarter last year. As a group, analysts forecast that Chipotle Mexican Grill will post 53.12 EPS for the current year.

Insider Buying and Selling at Chipotle Mexican Grill

In other Chipotle Mexican Grill news, insider Christopher W. Brandt sold 3,149 shares of the firm’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 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 document filed with the SEC, which can be accessed through the SEC website. In other news, insider Christopher W. Brandt sold 3,149 shares of Chipotle Mexican Grill 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 completion of the sale, the insider now directly owns 8,563 shares in the company, valued at $25,071,093.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Roger E. Theodoredis sold 898 shares of Chipotle Mexican Grill stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $2,622.25, for a total transaction of $2,354,780.50. Following the completion of the sale, the insider now owns 1,529 shares of the company’s stock, valued at $4,009,420.25. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,793 shares of company stock worth $18,321,152. 0.96% of the stock is owned by corporate insiders.

Institutional Trading of Chipotle Mexican Grill

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Panagora Asset Management Inc. boosted its position in shares of Chipotle Mexican Grill by 79.5% in the first quarter. Panagora Asset Management Inc. now owns 948 shares of the restaurant operator’s stock worth $1,500,000 after purchasing an additional 420 shares during the period. Cibc World Market Inc. boosted its position in shares of Chipotle Mexican Grill by 15.5% in the first quarter. Cibc World Market Inc. now owns 171 shares of the restaurant operator’s stock worth $271,000 after purchasing an additional 23 shares during the period. Canada Pension Plan Investment Board boosted its position in shares of Chipotle Mexican Grill by 7.3% in the first quarter. Canada Pension Plan Investment Board now owns 3,032 shares of the restaurant operator’s stock worth $4,796,000 after purchasing an additional 205 shares during the period. Cetera Investment Advisers boosted its position in shares of Chipotle Mexican Grill by 6.1% during the first quarter. Cetera Investment Advisers now owns 777 shares of the restaurant operator’s stock worth $1,229,000 after acquiring an additional 45 shares during the last quarter. Finally, Sequoia Financial Advisors LLC boosted its position in shares of Chipotle Mexican Grill by 38.9% during the first quarter. Sequoia Financial Advisors LLC now owns 218 shares of the restaurant operator’s stock worth $345,000 after acquiring an additional 61 shares during the last quarter. 91.31% of the stock is owned by hedge funds and other 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.