Sanford C. Bernstein Boosts Chipotle Mexican Grill (NYSE:CMG) Price Target to $3,200.00

Chipotle Mexican Grill (NYSE:CMG) had its target price upped by Sanford C. Bernstein from $2,800.00 to $3,200.00 in a research report sent to investors on Tuesday, Benzinga reports. They currently have an outperform rating on the restaurant operator’s stock.

CMG has been the subject of several other research reports. Truist Financial upped their price target on shares of Chipotle Mexican Grill from $2,700.00 to $2,920.00 and gave the stock a buy rating in a research report on Wednesday, February 7th. Robert W. Baird restated an outperform rating and set a $2,650.00 price target on shares of Chipotle Mexican Grill in a research report on Monday, January 22nd. Stifel Nicolaus upped their price target on shares of Chipotle Mexican Grill from $2,450.00 to $2,560.00 and gave the stock a buy rating in a research report on Friday, February 2nd. Citigroup upped their price target on shares of Chipotle Mexican Grill from $2,699.00 to $3,016.00 and gave the stock a buy rating in a research report on Wednesday, February 7th. Finally, Piper Sandler increased their target price on shares of Chipotle Mexican Grill from $1,930.00 to $2,226.00 and gave the company a neutral rating in a research report on Tuesday, January 16th. Nine investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average price target of $2,566.37.

Chipotle Mexican Grill Price Performance

CMG stock opened at $2,902.19 on Tuesday. Chipotle Mexican Grill has a 1-year low of $1,645.03 and a 1-year high of $3,023.98. The firm has a fifty day moving average price of $2,617.78 and a two-hundred day moving average price of $2,267.07. The firm has a market cap of $79.58 billion, a price-to-earnings ratio of 65.44, a PEG ratio of 2.53 and a beta of 1.29.

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

Chipotle Mexican Grill (NYSE:CMG) last released its earnings results on Tuesday, February 6th. The restaurant operator reported $10.36 earnings per share for the quarter, beating the consensus estimate of $9.73 by $0.63. Chipotle Mexican Grill had a net margin of 12.45% and a return on equity of 44.41%. The firm had revenue of $2.52 billion during the quarter, compared to analyst estimates of $2.49 billion. During the same quarter in the previous year, the firm earned $8.29 earnings per share. The firm’s revenue for the quarter was up 15.4% compared to the same quarter last year. As a group, analysts expect that Chipotle Mexican Grill will post 53.12 EPS for the current fiscal year.

Insider Buying and Selling at Chipotle Mexican Grill

In other news, insider Christopher W. Brandt sold 3,149 shares of the company’s 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 transaction, the insider now owns 8,563 shares in the company, valued at approximately $25,071,093.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Roger E. Theodoredis sold 898 shares of the company’s stock in a transaction dated 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 transaction, the insider now owns 1,529 shares in the company, valued at approximately $4,009,420.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 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 transaction, the insider now owns 8,563 shares in the company, valued at approximately $25,071,093.92. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,893 shares of company stock valued at $20,827,447. 0.96% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Chipotle Mexican Grill

Hedge funds have recently added to or reduced their stakes in the company. Northern Trust Corp increased its holdings in Chipotle Mexican Grill by 5.0% in the third quarter. Northern Trust Corp now owns 283,203 shares of the restaurant operator’s stock worth $518,780,000 after buying an additional 13,513 shares during the last quarter. Covestor Ltd grew its holdings in Chipotle Mexican Grill by 9.2% during the third 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 last quarter. NewEdge Wealth LLC acquired a new position in Chipotle Mexican Grill during the third quarter valued at approximately $205,000. Laidlaw Wealth Management LLC grew its holdings in Chipotle Mexican Grill by 69.8% during the third quarter. Laidlaw Wealth Management LLC now owns 270 shares of the restaurant operator’s stock valued at $495,000 after purchasing an additional 111 shares during the last quarter. Finally, Clearstead Advisors LLC grew its holdings in Chipotle Mexican Grill by 0.7% during the third quarter. Clearstead Advisors LLC now owns 773 shares of the restaurant operator’s stock valued at $1,416,000 after purchasing an additional 5 shares during the last quarter. Institutional investors and hedge funds 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.