Chipotle Mexican Grill (NYSE:CMG) Price Target Raised to $2,986.00

Chipotle Mexican Grill (NYSE:CMG) had its price target hoisted by Morgan Stanley from $2,500.00 to $2,986.00 in a research report report published on Friday morning, Benzinga reports. Morgan Stanley currently has an equal weight rating on the restaurant operator’s stock.

CMG has been the topic of several other reports. BMO Capital Markets upped their target price on Chipotle Mexican Grill from $2,100.00 to $2,400.00 and gave the company a market perform rating in a report on Wednesday, February 7th. Barclays upped their price target on Chipotle Mexican Grill from $2,246.00 to $2,400.00 and gave the stock an equal weight rating in a report on Wednesday, February 7th. Citigroup upped their price target on Chipotle Mexican Grill from $3,016.00 to $3,358.00 and gave the stock a buy rating in a report on Monday, April 8th. Truist Financial upped their price objective on Chipotle Mexican Grill from $2,700.00 to $2,920.00 and gave the company a buy rating in a research note on Wednesday, February 7th. Finally, Sanford C. Bernstein upped their price objective on 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 investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $2,720.59.

Chipotle Mexican Grill Stock Down 1.1 %

CMG stock opened at $2,957.60 on Friday. The company has a market cap of $81.10 billion, a PE ratio of 66.69, a price-to-earnings-growth ratio of 2.53 and a beta of 1.28. The business has a 50-day simple moving average of $2,749.70 and a 200 day simple moving average of $2,355.75. Chipotle Mexican Grill has a 52 week low of $1,706.14 and a 52 week high of $3,023.98.

Chipotle Mexican Grill shares 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 payable 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 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $9.73 by $0.63. The firm had revenue of $2.52 billion for the quarter, compared to analysts’ expectations of $2.49 billion. Chipotle Mexican Grill had a return on equity of 44.41% and a net margin of 12.45%. The business’s revenue for the quarter was up 15.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $8.29 earnings per share. On average, analysts anticipate that Chipotle Mexican Grill will post 53.31 EPS for the current fiscal year.

Insider Activity

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 stock was sold at an average price of $2,927.84, for a total transaction of $9,219,768.16. Following the transaction, the insider now directly owns 8,563 shares of the company’s stock, valued at $25,071,093.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Albert S. Baldocchi sold 750 shares of the company’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $2,608.51, for a total value of $1,956,382.50. Following the sale, the director now directly owns 37,271 shares of the company’s stock, valued at $97,221,776.21. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Christopher W. Brandt sold 3,149 shares of the company’s stock in a transaction on Wednesday, March 20th. The stock was 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 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. Company insiders own 0.96% of the company’s stock.

Institutional Investors Weigh In On Chipotle Mexican Grill

Several hedge funds have recently added to or reduced their stakes in CMG. Panagora Asset Management Inc. boosted its holdings in 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 acquiring an additional 420 shares in the last quarter. Cibc World Market Inc. boosted its holdings in 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 acquiring an additional 23 shares in the last quarter. Canada Pension Plan Investment Board boosted its holdings in 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 acquiring an additional 205 shares in the last quarter. Cetera Investment Advisers boosted its holdings in Chipotle Mexican Grill by 6.1% in 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 in the last quarter. Finally, Sequoia Financial Advisors LLC lifted its holdings 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 valued at $345,000 after purchasing an additional 61 shares in the last quarter. 91.31% of the stock is 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.