Chipotle Mexican Grill (NYSE:CMG) Price Target Increased to $3,369.00 by Analysts at Citigroup

Chipotle Mexican Grill (NYSE:CMG) had its price objective raised by Citigroup from $3,358.00 to $3,369.00 in a research report sent to investors on Thursday morning, Benzinga reports. They currently have a buy rating on the restaurant operator’s stock.

Other analysts have also recently issued research reports about the stock. BMO Capital Markets raised their price objective on shares of Chipotle Mexican Grill from $2,400.00 to $2,850.00 and gave the company a market perform rating in a research note on Thursday. Argus raised their price objective on shares of Chipotle Mexican Grill from $3,265.00 to $3,366.00 and gave the company a buy rating in a research note on Thursday, April 4th. Truist Financial raised their price objective on shares of Chipotle Mexican Grill from $3,250.00 to $3,440.00 and gave the company a buy rating in a research note on Thursday. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Chipotle Mexican Grill from $3,400.00 to $3,600.00 and gave the company a buy rating in a research note on Thursday. Finally, Sanford C. Bernstein raised their price objective on shares of 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 issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $3,137.12.

Chipotle Mexican Grill Stock Up 2.4 %

Shares of NYSE:CMG opened at $3,186.97 on Thursday. The company has a market cap of $87.55 billion, a price-to-earnings ratio of 68.01, a PEG ratio of 2.67 and a beta of 1.28. The firm’s 50-day simple moving average is $2,822.95 and its 200-day simple moving average is $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.

Shares of Chipotle Mexican Grill are going 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 issued its earnings results on Wednesday, April 24th. The restaurant operator reported $13.37 earnings per share for the quarter, beating the consensus estimate of $11.63 by $1.74. The business had revenue of $2.70 billion for the quarter, compared to the consensus estimate of $2.67 billion. Chipotle Mexican Grill had a net margin of 12.70% and a return on equity of 43.74%. On average, research analysts forecast that Chipotle Mexican Grill will post 55.08 EPS for the current year.

Insider Activity at Chipotle Mexican Grill

In related news, insider Christopher W. Brandt sold 3,149 shares of the business’s 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 transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Chipotle Mexican Grill news, Director Albert S. Baldocchi sold 750 shares of the business’s stock in a transaction that occurred on 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 sale, the director now directly owns 37,271 shares in the company, valued at $97,221,776.21. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 sale, the insider now owns 8,563 shares of the company’s stock, valued at $25,071,093.92. The disclosure for this sale can be found here. Over the last three months, insiders sold 4,797 shares of company stock worth $13,530,931. 0.96% of the stock is owned by company insiders.

Institutional Investors Weigh In On Chipotle Mexican Grill

Several institutional investors have recently bought and sold shares of CMG. Steph & Co. purchased a new stake in Chipotle Mexican Grill during the first quarter worth approximately $29,000. Fortitude Family Office LLC purchased a new position in shares of Chipotle Mexican Grill in the fourth quarter valued at $32,000. Turtle Creek Wealth Advisors LLC purchased a new position in shares of Chipotle Mexican Grill in the fourth quarter valued at $37,000. ICA Group Wealth Management LLC purchased a new position in shares of Chipotle Mexican Grill in the fourth quarter valued at $37,000. Finally, Annis Gardner Whiting Capital Advisors LLC purchased a new position in shares of Chipotle Mexican Grill in the third quarter valued at $38,000. 91.31% of the stock is currently owned by hedge funds and other institutional investors.

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.