Chipotle Mexican Grill (NYSE:CMG) Price Target Raised to $3,440.00 at Truist Financial

Chipotle Mexican Grill (NYSE:CMG) had its target price lifted by Truist Financial from $3,250.00 to $3,440.00 in a report issued on Thursday morning, Benzinga reports. The brokerage currently has a buy rating on the restaurant operator’s stock.

A number of other analysts have also issued reports on the company. Sanford C. Bernstein boosted their price objective on Chipotle Mexican Grill from $2,800.00 to $3,200.00 and gave the company an outperform rating in a research note on Tuesday, March 26th. Stifel Nicolaus upped their target price on Chipotle Mexican Grill from $2,700.00 to $3,270.00 and gave the stock a buy rating in a research note on Thursday, April 11th. BMO Capital Markets upped their target price on Chipotle Mexican Grill from $2,400.00 to $2,850.00 and gave the stock a market perform rating in a research note on Thursday. Morgan Stanley upped their target price on Chipotle Mexican Grill from $2,986.00 to $3,100.00 and gave the stock an equal weight rating in a research note on Thursday. Finally, Citigroup upped their target price on Chipotle Mexican Grill from $3,016.00 to $3,358.00 and gave the stock a buy rating in a research note on Monday, April 8th. Ten analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus price target of $3,137.12.

Chipotle Mexican Grill Stock Performance

NYSE:CMG opened at $3,186.97 on Thursday. Chipotle Mexican Grill has a 52-week low of $1,768.64 and a 52-week high of $3,199.99. The firm has a market cap of $87.55 billion, a price-to-earnings ratio of 68.01, a PEG ratio of 2.67 and a beta of 1.28. The business’s fifty day moving average is $2,822.95 and its 200 day moving average is $2,434.49.

Chipotle Mexican Grill’s stock is 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 market closes on Tuesday, June 25th.

Chipotle Mexican Grill (NYSE:CMG) last released its quarterly earnings data on Wednesday, April 24th. The restaurant operator reported $13.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $11.63 by $1.74. Chipotle Mexican Grill had a return on equity of 43.74% and a net margin of 12.70%. The company had revenue of $2.70 billion for the quarter, compared to analyst estimates of $2.67 billion. Equities analysts predict that Chipotle Mexican Grill will post 55.08 EPS for the current fiscal year.

Insider Activity at Chipotle Mexican Grill

In related news, insider Roger E. Theodoredis sold 898 shares of the stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $2,622.25, for a total transaction of $2,354,780.50. Following the completion of the sale, the insider now directly owns 1,529 shares in the company, valued at approximately $4,009,420.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Chipotle Mexican Grill news, Director Albert S. Baldocchi sold 750 shares of the stock in a transaction that occurred on 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 sale, the director now owns 37,271 shares in the company, valued at approximately $97,221,776.21. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Roger E. Theodoredis sold 898 shares of the stock in a transaction that occurred on 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 completion of the sale, the insider now owns 1,529 shares of the company’s stock, valued at approximately $4,009,420.25. The disclosure for this sale can be found here. Insiders sold 4,797 shares of company stock worth $13,530,931 in the last ninety days. 0.96% of the stock is owned by company insiders.

Institutional Investors Weigh In On Chipotle Mexican Grill

Institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. lifted its stake in shares of Chipotle Mexican Grill by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 2,707,233 shares of the restaurant operator’s stock valued at $6,191,334,000 after purchasing an additional 23,151 shares during the period. Capital World Investors lifted its stake in shares of Chipotle Mexican Grill by 0.8% in the 4th quarter. Capital World Investors now owns 1,125,974 shares of the restaurant operator’s stock valued at $2,575,057,000 after purchasing an additional 8,541 shares during the period. Artisan Partners Limited Partnership lifted its stake in shares of Chipotle Mexican Grill by 1.5% in the 3rd quarter. Artisan Partners Limited Partnership now owns 509,953 shares of the restaurant operator’s stock valued at $934,147,000 after purchasing an additional 7,677 shares during the period. FMR LLC lifted its stake in shares of Chipotle Mexican Grill by 5.9% in the 3rd quarter. FMR LLC now owns 449,942 shares of the restaurant operator’s stock valued at $824,217,000 after purchasing an additional 24,991 shares during the period. Finally, American Century Companies Inc. lifted its stake in shares of Chipotle Mexican Grill by 3.5% in the 3rd quarter. American Century Companies Inc. now owns 399,902 shares of the restaurant operator’s stock valued at $732,552,000 after purchasing an additional 13,482 shares during the period. Hedge funds and other 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.