KeyCorp Increases Chipotle Mexican Grill (NYSE:CMG) Price Target to $3,400.00

Chipotle Mexican Grill (NYSE:CMG) had its target price lifted by KeyCorp from $3,250.00 to $3,400.00 in a research report report published on Thursday morning, Benzinga reports. The brokerage currently has an overweight rating on the restaurant operator’s stock.

Other analysts also recently issued reports about the company. Raymond James reaffirmed an outperform rating and set a $3,340.00 price objective (up from $3,300.00) on shares of Chipotle Mexican Grill in a research note on Thursday. Evercore ISI increased their target price on Chipotle Mexican Grill from $3,200.00 to $3,600.00 and gave the stock an outperform rating in a research note on Thursday. Oppenheimer reissued an outperform rating and set a $3,300.00 target price (up from $2,825.00) on shares of Chipotle Mexican Grill in a research note on Thursday. UBS Group increased their target price on Chipotle Mexican Grill from $3,400.00 to $3,500.00 and gave the stock a buy rating in a research note on Thursday. Finally, Robert W. Baird increased their target price 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 analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average target price of $3,057.68.

Chipotle Mexican Grill Stock Up 2.2 %

CMG traded up $69.27 on Thursday, hitting $3,181.24. 156,099 shares of the company traded hands, compared to its average volume of 240,293. The company has a 50 day moving average of $2,811.11 and a 200-day moving average of $2,416.65. The stock has a market capitalization of $87.39 billion, a PE ratio of 67.09, a PEG 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 $3,182.21.

Chipotle Mexican Grill’s stock is scheduled to split before the market opens on Wednesday, June 26th. The 50-1 split was announced on Tuesday, March 19th. The newly issued shares will be payable to shareholders after the market closes on Tuesday, June 25th.

Chipotle Mexican Grill (NYSE:CMG) last posted its quarterly earnings data on Wednesday, April 24th. The restaurant operator reported $13.37 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%. On average, research analysts anticipate 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 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 value of $9,219,768.16. Following the completion of the transaction, 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 Securities & Exchange Commission, which can be accessed through the SEC website. 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 value of $9,219,768.16. Following the completion of the transaction, 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 Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Albert S. Baldocchi sold 750 shares of Chipotle Mexican Grill stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $2,608.51, for a total value of $1,956,382.50. Following the completion of the transaction, the director now owns 37,271 shares of the company’s stock, valued at $97,221,776.21. The disclosure for this sale can be found here. Insiders have sold 6,793 shares of company stock worth $18,321,152 over the last quarter. 0.96% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Chipotle Mexican Grill

Hedge funds have recently bought and sold shares of the company. Northern Trust Corp grew its holdings in shares of Chipotle Mexican Grill by 5.0% during the third quarter. Northern Trust Corp now owns 283,203 shares of the restaurant operator’s stock valued at $518,780,000 after purchasing an additional 13,513 shares during the last quarter. Covestor Ltd boosted its position in Chipotle Mexican Grill by 9.2% during the 3rd quarter. Covestor Ltd now owns 95 shares of the restaurant operator’s stock valued at $174,000 after purchasing an additional 8 shares during the period. NewEdge Wealth LLC bought a new position in Chipotle Mexican Grill during the 3rd quarter worth $205,000. Laidlaw Wealth Management LLC increased its position in Chipotle Mexican Grill by 69.8% in the third quarter. Laidlaw Wealth Management LLC now owns 270 shares of the restaurant operator’s stock worth $495,000 after buying an additional 111 shares during the period. Finally, Clearstead Advisors LLC increased its position in Chipotle Mexican Grill by 0.7% in the third quarter. Clearstead Advisors LLC now owns 773 shares of the restaurant operator’s stock worth $1,416,000 after buying an additional 5 shares during the period. 91.31% of the stock is currently owned by institutional investors and hedge funds.

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.