UBS Group Increases Chipotle Mexican Grill (NYSE:CMG) Price Target to $3,500.00

Chipotle Mexican Grill (NYSE:CMG) had its price target boosted by analysts at UBS Group from $3,400.00 to $3,500.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the restaurant operator’s stock. UBS Group’s target price would indicate a potential upside of 9.74% from the company’s current price.

Several other equities analysts have also recently weighed in on CMG. Robert W. Baird raised their price target on shares of Chipotle Mexican Grill from $3,250.00 to $3,500.00 and gave the company an “outperform” rating in a research report on Thursday. Truist Financial raised their price target on shares of Chipotle Mexican Grill from $2,700.00 to $2,920.00 and gave the company a “buy” rating in a research report on Wednesday, February 7th. Wells Fargo & Company raised their price target on shares of Chipotle Mexican Grill from $3,285.00 to $3,300.00 and gave the company an “overweight” rating in a research report on Thursday. Stephens raised their price target on shares of Chipotle Mexican Grill from $3,010.00 to $3,050.00 and gave the company an “equal weight” rating in a research report on Thursday. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of Chipotle Mexican Grill from $3,100.00 to $3,300.00 and gave the company a “buy” rating in a research report on Wednesday, March 20th. Ten research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $3,137.12.

Chipotle Mexican Grill Price Performance

Shares of CMG opened at $3,189.40 on Thursday. The stock has a 50-day moving average of $2,822.95 and a 200-day moving average of $2,426.07. The company has a market cap of $87.61 billion, a PE ratio of 68.06, a P/E/G ratio of 2.60 and a beta of 1.28. Chipotle Mexican Grill has a one year low of $1,768.64 and a one year high of $3,199.99.

Shares of Chipotle Mexican Grill are scheduled to split on the morning of Wednesday, June 26th. The 50-1 split was announced on Tuesday, March 19th. The newly issued shares will be issued 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 EPS for the quarter, beating the consensus estimate of $11.63 by $1.74. The company 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 43.74% and a net margin of 12.70%. Analysts expect that Chipotle Mexican Grill will post 54.07 EPS for the current fiscal year.

Insider Activity

In other news, insider Christopher W. Brandt sold 3,149 shares of the business’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $2,927.84, for a total transaction of $9,219,768.16. Following the completion of the transaction, the insider now directly owns 8,563 shares in the company, valued at approximately $25,071,093.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Albert S. Baldocchi sold 750 shares of Chipotle Mexican Grill 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 directly owns 37,271 shares of the company’s stock, valued at approximately $97,221,776.21. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Christopher W. Brandt sold 3,149 shares of Chipotle Mexican Grill stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $2,927.84, for a total transaction of $9,219,768.16. Following 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 sold 6,793 shares of company stock worth $18,321,152 in the last three months. Corporate insiders own 0.96% of the company’s stock.

Institutional Trading of Chipotle Mexican Grill

A number of hedge funds have recently made changes to their positions in the stock. Northwest Bancshares Inc. bought a new stake in shares of Chipotle Mexican Grill during the 1st quarter worth $331,000. SlateStone Wealth LLC bought a new stake in shares of Chipotle Mexican Grill during the 1st quarter worth $265,000. Mesirow Financial Investment Management Inc. bought a new stake in shares of Chipotle Mexican Grill during the 1st quarter worth $230,000. Emerald Advisors LLC bought a new stake in shares of Chipotle Mexican Grill during the 1st quarter worth $872,000. Finally, Meridian Wealth Management LLC lifted its holdings in shares of Chipotle Mexican Grill by 4.0% during the 1st quarter. Meridian Wealth Management LLC now owns 234 shares of the restaurant operator’s stock worth $680,000 after acquiring an additional 9 shares during the last quarter. 91.31% of the stock is owned by institutional investors.

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.