Chipotle Mexican Grill (NYSE:CMG) Price Target Increased to $3,200.00 by Analysts at Wedbush

Chipotle Mexican Grill (NYSE:CMG) had its target price upped by Wedbush from $2,850.00 to $3,200.00 in a research report report published on Thursday morning, Benzinga reports. They currently have a neutral rating on the restaurant operator’s stock. Wedbush also issued estimates for Chipotle Mexican Grill’s Q2 2024 earnings at $15.39 EPS, Q2 2025 earnings at $18.59 EPS and FY2025 earnings at $68.56 EPS.

CMG has been the topic of several other reports. KeyCorp increased their price target on shares of Chipotle Mexican Grill from $2,750.00 to $3,250.00 and gave the stock an overweight rating in a research report on Tuesday, April 9th. Argus boosted their price target on Chipotle Mexican Grill from $3,265.00 to $3,366.00 and gave the company a buy rating in a report on Thursday, April 4th. UBS Group raised their price objective on Chipotle Mexican Grill from $2,900.00 to $3,400.00 and gave the stock a buy rating in a research note on Thursday, April 11th. Deutsche Bank Aktiengesellschaft boosted their price objective on Chipotle Mexican Grill from $3,100.00 to $3,300.00 and gave the company a buy rating in a research note on Wednesday, March 20th. Finally, Stifel Nicolaus raised their target price on shares of Chipotle Mexican Grill from $2,700.00 to $3,270.00 and gave the stock a buy rating in a research note on Thursday, April 11th. Ten research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of Moderate Buy and an average price target of $3,137.12.

Chipotle Mexican Grill Stock Performance

Shares of NYSE CMG opened at $3,186.97 on Thursday. The company has a 50 day simple moving average of $2,822.95 and a two-hundred day simple moving average of $2,434.49. Chipotle Mexican Grill has a fifty-two week low of $1,768.64 and a fifty-two week high of $3,199.99. The company has a market capitalization of $87.55 billion, a price-to-earnings ratio of 68.01, a P/E/G ratio of 2.67 and a beta of 1.28.

Chipotle Mexican Grill’s stock is scheduled to split on the morning of Wednesday, June 26th. The 50-1 split was announced on Tuesday, March 19th. The newly created shares will be issued to shareholders after the market closes on Tuesday, June 25th.

Chipotle Mexican Grill (NYSE:CMG) last released its quarterly earnings data on Wednesday, April 24th. The restaurant operator reported $13.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $11.63 by $1.74. Chipotle Mexican Grill had a return on equity of 43.74% and a net margin of 12.70%. The business had revenue of $2.70 billion for the quarter, compared to analysts’ expectations of $2.67 billion. On average, analysts forecast that Chipotle Mexican Grill will post 55.08 earnings per share for the current fiscal year.

Insider Transactions at Chipotle Mexican Grill

In other Chipotle Mexican Grill news, Director Albert S. Baldocchi sold 750 shares of the business’s stock in a transaction dated 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 completion of the transaction, the director now directly owns 37,271 shares of the company’s stock, valued at approximately $97,221,776.21. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Christopher W. Brandt sold 3,149 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the insider now owns 8,563 shares of the company’s stock, valued at $25,071,093.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Albert S. Baldocchi sold 750 shares of Chipotle Mexican Grill stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $2,608.51, for a total transaction of $1,956,382.50. Following the completion of the transaction, the director now directly owns 37,271 shares in the company, valued at approximately $97,221,776.21. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 4,797 shares of company stock worth $13,530,931. 0.96% of the stock is currently owned by company insiders.

Institutional Trading of Chipotle Mexican Grill

Several large investors have recently added to or reduced their stakes in CMG. Norges Bank bought a new position in shares of Chipotle Mexican Grill in the fourth quarter worth about $805,529,000. International Assets Investment Management LLC grew its holdings in Chipotle Mexican Grill by 220,249.6% in the 4th quarter. International Assets Investment Management LLC now owns 301,879 shares of the restaurant operator’s stock valued at $6,903,850,000 after buying an additional 301,742 shares during the last quarter. Wellington Management Group LLP increased its position in Chipotle Mexican Grill by 41.6% in the 3rd quarter. Wellington Management Group LLP now owns 397,182 shares of the restaurant operator’s stock worth $727,570,000 after buying an additional 116,723 shares during the period. Global Assets Advisory LLC acquired a new position in shares of Chipotle Mexican Grill during the first quarter worth approximately $167,256,000. Finally, 1832 Asset Management L.P. bought a new stake in shares of Chipotle Mexican Grill in the fourth quarter valued at approximately $100,535,000. 91.31% of the stock is owned by institutional investors and hedge funds.

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.