Chipotle Mexican Grill (NYSE:CMG) Price Target Raised to $3,369.00

Chipotle Mexican Grill (NYSE:CMG) had its price target raised by Citigroup from $3,358.00 to $3,369.00 in a research report report published on Thursday, Benzinga reports. The brokerage currently has a buy rating on the restaurant operator’s stock.

CMG has been the subject of several other research reports. Barclays increased their target price on shares of Chipotle Mexican Grill from $2,400.00 to $2,865.00 and gave the company an equal weight rating in a report on Thursday. TD Cowen upped their price objective on Chipotle Mexican Grill from $3,400.00 to $3,500.00 and gave the company a buy rating in a research report on Thursday. Raymond James reaffirmed an outperform rating and set a $3,340.00 price target (up previously from $3,300.00) on shares of Chipotle Mexican Grill in a research report on Thursday. Sanford C. Bernstein increased their target price on shares of Chipotle Mexican Grill from $2,800.00 to $3,200.00 and gave the stock an outperform rating in a research note on Tuesday, March 26th. Finally, Argus upped their price objective on Chipotle Mexican Grill from $3,265.00 to $3,366.00 and gave the stock a buy rating in a report on Thursday, April 4th. Eleven research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat, the stock has an average rating of Moderate Buy and an average target price of $3,057.68.

Chipotle Mexican Grill Price Performance

Shares of NYSE:CMG traded up $71.82 on Thursday, reaching $3,183.79. 228,919 shares of the company traded hands, compared to its average volume of 241,128. The stock has a market capitalization of $87.46 billion, a PE ratio of 67.09, a P/E/G ratio of 2.48 and a beta of 1.28. The company’s 50 day moving average is $2,811.11 and its 200-day moving average is $2,416.65. Chipotle Mexican Grill has a fifty-two week low of $1,768.64 and a fifty-two week high of $3,199.99.

Chipotle Mexican Grill shares are going 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 market closes on Tuesday, June 25th.

Chipotle Mexican Grill (NYSE:CMG) last issued 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. The firm had revenue of $2.70 billion during the quarter, compared to the consensus estimate of $2.67 billion. Chipotle Mexican Grill had a return on equity of 45.46% and a net margin of 12.70%. As a group, analysts expect that Chipotle Mexican Grill will post 53.49 EPS for the current year.

Insider Transactions at Chipotle Mexican Grill

In related news, insider Christopher W. Brandt sold 3,149 shares of the firm’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 transaction, the insider now owns 8,563 shares in the company, valued at $25,071,093.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Chipotle Mexican Grill news, CEO Brian R. Niccol sold 1,996 shares of the company’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $2,399.91, for a total transaction of $4,790,220.36. Following the transaction, the chief executive officer now owns 22,447 shares of the company’s stock, valued at approximately $53,870,779.77. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Christopher W. Brandt sold 3,149 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at $25,071,093.92. The disclosure for this sale can be found here. Insiders have sold a total of 6,793 shares of company stock valued at $18,321,152 in the last ninety days. 0.96% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Chipotle Mexican Grill

A number of large investors have recently added to or reduced their stakes in the business. Steph & Co. acquired a new position in shares of Chipotle Mexican Grill in the 1st quarter worth approximately $29,000. Fortitude Family Office LLC purchased a new position in shares of Chipotle Mexican Grill in the 4th quarter worth approximately $32,000. Turtle Creek Wealth Advisors LLC bought a new stake in shares of Chipotle Mexican Grill during the 4th quarter worth $37,000. ICA Group Wealth Management LLC bought a new position in Chipotle Mexican Grill during the fourth quarter valued at $37,000. Finally, Annis Gardner Whiting Capital Advisors LLC bought a new position in Chipotle Mexican Grill during the third quarter worth about $38,000. Institutional investors own 91.31% of the company’s stock.

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.