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

Chipotle Mexican Grill (NYSE:CMG) had its price objective lifted by UBS Group from $2,900.00 to $3,400.00 in a research note issued to investors on Thursday morning, Benzinga reports. They currently have a buy rating on the restaurant operator’s stock.

Other analysts have also issued research reports about the company. Sanford C. Bernstein boosted their price target on Chipotle Mexican Grill from $2,800.00 to $3,200.00 and gave the company an outperform rating in a report on Tuesday, March 26th. Raymond James boosted their price target on Chipotle Mexican Grill from $2,450.00 to $2,550.00 and gave the company an outperform rating in a report on Thursday, January 25th. Deutsche Bank Aktiengesellschaft boosted their price target on Chipotle Mexican Grill from $3,100.00 to $3,300.00 and gave the company a buy rating in a report on Wednesday, March 20th. Wedbush boosted their price target on Chipotle Mexican Grill from $2,400.00 to $2,850.00 and gave the company a neutral rating in a report on Friday, March 22nd. Finally, KeyCorp boosted their price target on Chipotle Mexican Grill from $2,750.00 to $3,250.00 and gave the company an overweight rating in a report on Tuesday, April 9th. Ten investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and an average target price of $2,720.59.

Chipotle Mexican Grill Price Performance

Shares of NYSE:CMG opened at $2,957.60 on Thursday. Chipotle Mexican Grill has a 1 year low of $1,706.14 and a 1 year high of $3,023.98. The business has a 50 day simple moving average of $2,749.70 and a two-hundred day simple moving average of $2,351.91. The firm has a market capitalization of $81.10 billion, a PE ratio of 66.69, a price-to-earnings-growth ratio of 2.56 and a beta of 1.28.

Shares of Chipotle Mexican Grill are set to split before the market opens on Wednesday, June 26th. The 50-1 split was announced on Tuesday, March 19th. The newly minted shares will be distributed to shareholders after the market closes on Tuesday, June 25th.

Chipotle Mexican Grill (NYSE:CMG) last announced its earnings results 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 return on equity of 44.41% and a net margin of 12.45%. The business had revenue of $2.52 billion during the quarter, compared to analyst estimates of $2.49 billion. During the same quarter in the previous year, the business earned $8.29 earnings per share. The company’s revenue for the quarter was up 15.4% compared to the same quarter last year. Equities research analysts expect that Chipotle Mexican Grill will post 53.31 EPS for the current fiscal year.

Insider Transactions at Chipotle Mexican Grill

In other news, CEO Brian R. Niccol sold 1,996 shares of the company’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $2,399.91, for a total transaction of $4,790,220.36. Following the transaction, the chief executive officer now directly 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 SEC, which is accessible through the SEC website. In related news, CEO Brian R. Niccol sold 1,996 shares of the company’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $2,399.91, for a total value of $4,790,220.36. Following the transaction, the chief executive officer now directly owns 22,447 shares of the company’s stock, valued at approximately $53,870,779.77. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Roger E. Theodoredis sold 898 shares of the company’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $2,622.25, for a total value of $2,354,780.50. Following the completion of the transaction, the insider now directly owns 1,529 shares in the company, valued at $4,009,420.25. The disclosure for this sale can be found here. Over the last three months, insiders have sold 6,793 shares of company stock valued at $18,321,152. Corporate insiders own 0.96% of the company’s stock.

Hedge Funds Weigh In On Chipotle Mexican Grill

Several hedge funds have recently made changes to their positions in the company. Mechanics Bank Trust Department acquired a new position in shares of Chipotle Mexican Grill in the 1st quarter valued at $770,000. Global Assets Advisory LLC acquired a new position in shares of Chipotle Mexican Grill in the 1st quarter valued at $167,256,000. Traynor Capital Management Inc. increased its position in shares of Chipotle Mexican Grill by 65.6% in the 1st quarter. Traynor Capital Management Inc. now owns 346 shares of the restaurant operator’s stock valued at $1,006,000 after acquiring an additional 137 shares during the period. AdvisorNet Financial Inc boosted its holdings in Chipotle Mexican Grill by 7.4% in the first quarter. AdvisorNet Financial Inc now owns 130 shares of the restaurant operator’s stock valued at $378,000 after purchasing an additional 9 shares during the last quarter. Finally, Northwest Investment Counselors LLC purchased a new stake in Chipotle Mexican Grill in the first quarter valued at $140,000. 91.31% of the stock is owned by institutional investors and hedge funds.

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.