Chipotle Mexican Grill (NYSE:CMG) Price Target Raised to $3,200.00

Chipotle Mexican Grill (NYSE:CMG) had its price objective boosted by equities researchers at Wedbush from $2,850.00 to $3,200.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm presently has a “neutral” rating on the restaurant operator’s stock. Wedbush’s price target would suggest a potential upside of 0.33% from the company’s current price. Wedbush also issued estimates for Chipotle Mexican Grill’s Q2 2024 earnings at $15.39 EPS, Q2 2025 earnings at $18.59 EPS and FY2025 earnings at $68.56 EPS.

A number of other analysts also recently issued reports on the company. Stephens initiated coverage on Chipotle Mexican Grill in a research report on Friday, April 12th. They set an “equal weight” rating and a $3,010.00 price objective for the company. Evercore ISI raised their price objective on Chipotle Mexican Grill from $2,900.00 to $3,200.00 and gave the stock an “outperform” rating in a research report on Thursday, April 18th. Argus raised their price objective on Chipotle Mexican Grill from $3,265.00 to $3,366.00 and gave the stock a “buy” rating in a research report on Thursday, April 4th. TD Cowen restated a “buy” rating and set a $2,900.00 target price on shares of Chipotle Mexican Grill in a report on Wednesday, April 10th. Finally, Wells Fargo & Company raised their target price on Chipotle Mexican Grill from $2,600.00 to $2,800.00 and gave the company an “overweight” rating in a report on Wednesday, February 7th. Ten investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $3,137.12.

Chipotle Mexican Grill Stock Up 2.5 %

Shares of CMG opened at $3,189.40 on Thursday. Chipotle Mexican Grill has a 52-week low of $1,768.64 and a 52-week high of $3,199.99. The company has a market capitalization of $87.60 billion, a PE ratio of 68.06, a price-to-earnings-growth ratio of 2.48 and a beta of 1.28. The stock has a fifty day simple moving average of $2,822.95 and a two-hundred day simple moving average of $2,426.07.

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 minted 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 (EPS) for the quarter, topping analysts’ consensus estimates of $11.63 by $1.74. Chipotle Mexican Grill had a return on equity of 45.46% and a net margin of 12.70%. The business had revenue of $2.70 billion during the quarter, compared to the consensus estimate of $2.67 billion. As a group, equities analysts anticipate that Chipotle Mexican Grill will post 53.49 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Christopher W. Brandt sold 3,149 shares of the company’s stock in a transaction on 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 sale, the insider now directly owns 8,563 shares in the company, valued at $25,071,093.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Christopher W. Brandt sold 3,149 shares of the company’s stock in a transaction on 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 is accessible through the SEC website. Also, CEO Brian R. Niccol sold 1,996 shares of the company’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $2,399.91, for a total value of $4,790,220.36. Following the completion of the transaction, the chief executive officer now owns 22,447 shares of the company’s stock, valued at $53,870,779.77. The disclosure for this sale can be found here. Insiders sold a total of 6,793 shares of company stock worth $18,321,152 over the last 90 days. 0.96% of the stock is owned by insiders.

Institutional Investors Weigh In On Chipotle Mexican Grill

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Northwest Bancshares Inc. acquired a new stake in Chipotle Mexican Grill during the first quarter worth about $331,000. SlateStone Wealth LLC acquired a new stake in Chipotle Mexican Grill during the first quarter worth about $265,000. Mesirow Financial Investment Management Inc. acquired a new stake in Chipotle Mexican Grill during the first quarter worth about $230,000. Emerald Advisors LLC acquired a new stake in Chipotle Mexican Grill during the first quarter worth about $872,000. Finally, Meridian Wealth Management LLC increased its stake in Chipotle Mexican Grill by 4.0% during the first 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 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.