Chipotle Mexican Grill (NYSE:CMG) PT Raised to $2,750.00

Chipotle Mexican Grill (NYSE:CMG) had its price target boosted by stock analysts at JPMorgan Chase & Co. from $2,500.00 to $2,750.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage presently has a “neutral” rating on the restaurant operator’s stock. JPMorgan Chase & Co.‘s target price points to a potential downside of 11.98% from the company’s current price.

Other equities research analysts also recently issued reports about the stock. Oppenheimer restated an “outperform” rating and set a $3,300.00 price objective (up from $2,825.00) on shares of Chipotle Mexican Grill in a research report on Thursday. BMO Capital Markets raised their target price on shares of Chipotle Mexican Grill from $2,400.00 to $2,850.00 and gave the stock a “market perform” rating in a report on Thursday. 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. TD Cowen lifted their price objective on shares of Chipotle Mexican Grill from $3,400.00 to $3,500.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Morgan Stanley lifted their price objective on shares of Chipotle Mexican Grill from $2,986.00 to $3,100.00 and gave the company an “equal weight” 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 has an average rating of “Moderate Buy” and a consensus price target of $3,022.11.

Chipotle Mexican Grill Price Performance

CMG stock traded up $197.48 during trading hours on Thursday, reaching $3,124.24. 426,886 shares of the stock were exchanged, compared to its average volume of 237,929. The company has a market cap of $85.67 billion, a price-to-earnings ratio of 70.40, a PEG ratio of 2.47 and a beta of 1.28. The firm’s 50-day moving average is $2,801.11 and its 200-day moving average is $2,411.76. Chipotle Mexican Grill has a 12 month low of $1,768.64 and a 12 month high of $3,125.47.

Chipotle Mexican Grill’s stock is going to split on the morning of 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 earnings results 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. Chipotle Mexican Grill had a net margin of 12.45% and a return on equity of 44.41%. The business had revenue of $2.70 billion during the quarter, compared to the consensus estimate of $2.67 billion. As a group, equities research analysts forecast that Chipotle Mexican Grill will post 53.49 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Christopher W. Brandt sold 3,149 shares of the stock in a transaction 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 of the company’s stock, valued at approximately $25,071,093.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Chipotle Mexican Grill news, insider Christopher W. Brandt sold 3,149 shares of the firm’s stock in a transaction 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 sale, the insider now owns 8,563 shares of the company’s stock, valued at approximately $25,071,093.92. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Brian R. Niccol sold 1,996 shares of the business’s stock in a transaction dated 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 sale, 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. Insiders have sold 6,793 shares of company stock worth $18,321,152 in the last three months. 0.96% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Chipotle Mexican Grill

A number of hedge funds and other institutional investors have recently modified their holdings of CMG. Norges Bank acquired a new stake in Chipotle Mexican Grill in the 4th quarter worth approximately $805,529,000. International Assets Investment Management LLC increased its holdings in Chipotle Mexican Grill by 220,249.6% in the 4th quarter. International Assets Investment Management LLC now owns 301,879 shares of the restaurant operator’s stock worth $6,903,850,000 after acquiring an additional 301,742 shares in the last quarter. Wellington Management Group LLP boosted its stake in Chipotle Mexican Grill by 41.6% during the 3rd quarter. Wellington Management Group LLP now owns 397,182 shares of the restaurant operator’s stock worth $727,570,000 after purchasing an additional 116,723 shares during the last quarter. Global Assets Advisory LLC acquired a new stake in Chipotle Mexican Grill during the 1st quarter worth $167,256,000. Finally, 1832 Asset Management L.P. acquired a new position in shares of Chipotle Mexican Grill during the 4th quarter valued at about $100,535,000. 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.