Deutsche Bank Aktiengesellschaft Boosts Chipotle Mexican Grill (NYSE:CMG) Price Target to $3,600.00

Chipotle Mexican Grill (NYSE:CMG) had its price target increased by research analysts at Deutsche Bank Aktiengesellschaft from $3,400.00 to $3,600.00 in a report issued on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the restaurant operator’s stock. Deutsche Bank Aktiengesellschaft’s price target would suggest a potential upside of 15.88% from the stock’s current price.

Other equities research analysts also recently issued reports about the stock. Wedbush boosted their price target on shares of Chipotle Mexican Grill from $2,850.00 to $3,200.00 and gave the stock a “neutral” rating in a research note on Thursday. Stephens boosted their price target on shares of Chipotle Mexican Grill from $3,010.00 to $3,050.00 and gave the company an “equal weight” rating in a report on Thursday. Raymond James restated an “outperform” rating and issued a $3,340.00 price objective (up previously from $3,300.00) on shares of Chipotle Mexican Grill in a research report on Thursday. Citigroup raised their price objective on Chipotle Mexican Grill from $3,016.00 to $3,358.00 and gave the stock a “buy” rating in a research note on Monday, April 8th. Finally, Robert W. Baird raised their price objective on Chipotle Mexican Grill from $3,250.00 to $3,500.00 and gave the stock an “outperform” rating in a research note on Thursday. Eleven research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $3,022.11.

Chipotle Mexican Grill Price Performance

Shares of CMG stock traded up $180.02 during trading hours on Thursday, reaching $3,106.78. 402,700 shares of the company were exchanged, compared to its average volume of 237,534. Chipotle Mexican Grill has a fifty-two week low of $1,768.64 and a fifty-two week high of $3,107.63. The stock’s fifty day moving average is $2,801.11 and its two-hundred day moving average is $2,411.76. The company has a market cap of $85.19 billion, a price-to-earnings ratio of 69.85, a P/E/G ratio of 2.47 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 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. The business had revenue of $2.70 billion during the quarter, compared to the consensus estimate of $2.67 billion. Chipotle Mexican Grill had a net margin of 12.45% and a return on equity of 44.41%. On average, research analysts anticipate that Chipotle Mexican Grill will post 53.49 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Christopher W. Brandt sold 3,149 shares of Chipotle Mexican Grill 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 in the company, valued at $25,071,093.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 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 completion of the sale, the insider now owns 8,563 shares in the company, valued at $25,071,093.92. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Roger E. Theodoredis sold 898 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $2,622.25, for a total value of $2,354,780.50. Following the sale, the insider now owns 1,529 shares of the company’s stock, valued at approximately $4,009,420.25. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 6,793 shares of company stock worth $18,321,152. Company insiders own 0.96% of the company’s stock.

Institutional Investors Weigh In On Chipotle Mexican Grill

A number of hedge funds and other institutional investors have recently made changes to their positions in CMG. Steph & Co. acquired a new stake in shares of Chipotle Mexican Grill in the first quarter valued at approximately $29,000. Fortitude Family Office LLC acquired a new stake in shares of Chipotle Mexican Grill in the fourth quarter valued at approximately $32,000. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Chipotle Mexican Grill in the fourth quarter valued at approximately $37,000. ICA Group Wealth Management LLC acquired a new stake in shares of Chipotle Mexican Grill in the fourth quarter valued at approximately $37,000. Finally, Annis Gardner Whiting Capital Advisors LLC acquired a new stake in shares of Chipotle Mexican Grill in the third quarter valued at approximately $38,000. 91.31% of the stock is currently 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.