Chipotle Mexican Grill (NYSE:CMG) Price Target Raised to $3,440.00 at Truist Financial

Chipotle Mexican Grill (NYSE:CMG) had its target price increased by Truist Financial from $3,250.00 to $3,440.00 in a research report released on Thursday morning, Benzinga reports. The brokerage currently has a buy rating on the restaurant operator’s stock.

Several other equities research analysts have also issued reports on the stock. Argus raised their target price on shares of 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. Piper Sandler raised their target price on shares of Chipotle Mexican Grill from $2,442.00 to $3,070.00 and gave the stock a neutral rating in a report on Thursday. Morgan Stanley raised their price target on shares of Chipotle Mexican Grill from $2,986.00 to $3,100.00 and gave the stock an equal weight rating in a research note on Thursday. Stifel Nicolaus raised their price target 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. Finally, BMO Capital Markets raised their price target on shares of Chipotle Mexican Grill from $2,400.00 to $2,850.00 and gave the stock a market perform 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. Based on data from MarketBeat.com, Chipotle Mexican Grill presently has an average rating of Moderate Buy and an average target price of $3,057.68.

Chipotle Mexican Grill Stock Performance

Shares of NYSE CMG traded up $71.82 during midday trading on Thursday, reaching $3,183.79. The stock had a trading volume of 228,919 shares, compared to its average volume of 241,128. The stock has a 50-day moving average of $2,811.11 and a 200-day moving average of $2,416.65. The company has a market capitalization of $87.46 billion, a price-to-earnings ratio of 67.09, a price-to-earnings-growth ratio of 2.48 and a beta of 1.28. Chipotle Mexican Grill has a 12-month low of $1,768.64 and a 12-month high of $3,199.99.

Shares of Chipotle Mexican Grill are set 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 issued its 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 45.46%. The firm had revenue of $2.70 billion during the quarter, compared to analyst estimates of $2.67 billion. As a group, analysts forecast that Chipotle Mexican Grill will post 53.49 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Albert S. Baldocchi sold 750 shares of the company’s stock in a transaction 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 owns 37,271 shares of the company’s stock, valued at $97,221,776.21. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other 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 transaction, the director now owns 37,271 shares of the company’s stock, valued at approximately $97,221,776.21. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Brian R. Niccol sold 1,996 shares of the business’s stock in a transaction dated Monday, January 29th. The shares were 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 directly owns 22,447 shares in the company, valued at approximately $53,870,779.77. The disclosure for this sale can be found here. In the last quarter, insiders sold 6,793 shares of company stock valued at $18,321,152. 0.96% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. lifted its position in Chipotle Mexican Grill by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 2,707,233 shares of the restaurant operator’s stock valued at $6,191,334,000 after buying an additional 23,151 shares during the last quarter. Capital World Investors lifted its position in Chipotle Mexican Grill by 0.8% in the fourth quarter. Capital World Investors now owns 1,125,974 shares of the restaurant operator’s stock valued at $2,575,057,000 after buying an additional 8,541 shares during the last quarter. Artisan Partners Limited Partnership lifted its position in Chipotle Mexican Grill by 1.5% in the third quarter. Artisan Partners Limited Partnership now owns 509,953 shares of the restaurant operator’s stock valued at $934,147,000 after buying an additional 7,677 shares during the last quarter. FMR LLC increased its stake in Chipotle Mexican Grill by 5.9% during the third quarter. FMR LLC now owns 449,942 shares of the restaurant operator’s stock worth $824,217,000 after purchasing an additional 24,991 shares during the period. Finally, American Century Companies Inc. increased its stake in Chipotle Mexican Grill by 3.5% during the third quarter. American Century Companies Inc. now owns 399,902 shares of the restaurant operator’s stock worth $732,552,000 after purchasing an additional 13,482 shares during the period. Institutional investors and hedge funds 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.