Chipotle Mexican Grill (NYSE:CMG) PT Raised to $3,070.00 at Piper Sandler

Chipotle Mexican Grill (NYSE:CMG) had its price objective upped by Piper Sandler from $2,442.00 to $3,070.00 in a report published on Thursday morning, Benzinga reports. The brokerage currently has a neutral rating on the restaurant operator’s stock.

Other equities research analysts have also recently issued reports about the stock. Wedbush increased their price objective on shares of Chipotle Mexican Grill from $2,850.00 to $3,200.00 and gave the company a neutral rating in a research note on Thursday. Jefferies Financial Group increased their price objective on shares of Chipotle Mexican Grill from $2,350.00 to $2,700.00 and gave the company a hold rating in a research note on Tuesday, April 16th. TD Cowen increased their price objective on shares of Chipotle Mexican Grill from $3,400.00 to $3,500.00 and gave the company a buy rating in a research note on Thursday. Morgan Stanley increased their price objective on shares of Chipotle Mexican Grill from $2,500.00 to $2,986.00 and gave the company an equal weight rating in a research note on Friday, April 12th. Finally, BTIG Research increased their price objective on shares of Chipotle Mexican Grill from $2,750.00 to $3,250.00 and gave the company a buy rating in a research note on Thursday, March 28th. Ten research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus price target of $3,137.12.

Chipotle Mexican Grill Stock Up 2.4 %

NYSE:CMG opened at $3,186.97 on Thursday. Chipotle Mexican Grill has a fifty-two week low of $1,768.64 and a fifty-two week high of $3,199.99. The stock has a market cap of $87.55 billion, a PE ratio of 68.01, a price-to-earnings-growth ratio of 2.67 and a beta of 1.28. The firm’s fifty day simple moving average is $2,822.95 and its 200-day simple moving average is $2,434.49.

Chipotle Mexican Grill shares are scheduled to split on Wednesday, June 26th. The 50-1 split was announced on Tuesday, March 19th. The newly created shares will be payable to shareholders after the closing bell on Tuesday, June 25th.

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

Insider Transactions at Chipotle Mexican Grill

In other news, Director Albert S. Baldocchi sold 750 shares of the 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 transaction, the director now directly owns 37,271 shares in the company, valued at approximately $97,221,776.21. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, insider Roger E. Theodoredis sold 898 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider now owns 1,529 shares in the company, valued at $4,009,420.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Albert S. Baldocchi sold 750 shares of the firm’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 transaction, the director now owns 37,271 shares in the company, valued at approximately $97,221,776.21. The disclosure for this sale can be found here. Insiders have sold a total of 4,797 shares of company stock worth $13,530,931 in the last three months. Company insiders own 0.96% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of CMG. Norges Bank purchased a new position in Chipotle Mexican Grill in the fourth quarter valued at approximately $805,529,000. International Assets Investment Management LLC grew its position in Chipotle Mexican Grill by 220,249.6% in the fourth quarter. International Assets Investment Management LLC now owns 301,879 shares of the restaurant operator’s stock valued at $6,903,850,000 after acquiring an additional 301,742 shares in the last quarter. Wellington Management Group LLP grew its position in Chipotle Mexican Grill by 41.6% in the third quarter. Wellington Management Group LLP now owns 397,182 shares of the restaurant operator’s stock valued at $727,570,000 after acquiring an additional 116,723 shares in the last quarter. Global Assets Advisory LLC acquired a new stake in Chipotle Mexican Grill in the first quarter valued at approximately $167,256,000. Finally, 1832 Asset Management L.P. acquired a new stake in Chipotle Mexican Grill in the fourth quarter valued at approximately $100,535,000. Hedge funds and other institutional investors own 91.31% of the company’s stock.

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.