Barclays Boosts Chipotle Mexican Grill (NYSE:CMG) Price Target to $2,865.00

Chipotle Mexican Grill (NYSE:CMG) had its target price lifted by Barclays from $2,400.00 to $2,865.00 in a note issued to investors on Thursday, Benzinga reports. The firm presently has an “equal weight” rating on the restaurant operator’s stock. Barclays‘s price target would indicate a potential downside of 8.66% from the stock’s current price.

Several other equities analysts also recently commented on the stock. Piper Sandler increased 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 research report on Thursday. Oppenheimer reaffirmed an “outperform” rating and issued a $3,300.00 price target (up from $2,825.00) on shares of Chipotle Mexican Grill in a research report on Thursday. Wells Fargo & Company lifted their target price on Chipotle Mexican Grill from $3,285.00 to $3,300.00 and gave the stock an “overweight” rating in a research report on Thursday. BMO Capital Markets lifted 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 report on Thursday. Finally, Citigroup lifted 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 report on Monday, April 8th. Eleven analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $3,057.29.

Chipotle Mexican Grill Stock Performance

Shares of NYSE:CMG traded up $209.78 during midday trading on Thursday, hitting $3,136.54. 448,944 shares of the stock were exchanged, compared to its average volume of 238,141. Chipotle Mexican Grill has a 52-week low of $1,768.64 and a 52-week high of $3,136.54. The business’s fifty day simple moving average is $2,801.11 and its two-hundred day simple moving average is $2,411.76. The company has a market capitalization of $86.00 billion, a PE ratio of 70.72, a P/E/G ratio of 2.47 and a beta of 1.28.

Chipotle Mexican Grill’s stock is going to split on Wednesday, June 26th. The 50-1 split was announced on Tuesday, March 19th. The newly minted shares will be issued to shareholders after the closing bell on Tuesday, June 25th.

Chipotle Mexican Grill (NYSE:CMG) last announced its quarterly earnings data on Wednesday, April 24th. The restaurant operator reported $13.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $11.63 by $1.74. The business had revenue of $2.70 billion during the quarter, compared to analyst estimates of $2.67 billion. Chipotle Mexican Grill had a return on equity of 44.41% and a net margin of 12.45%. As a group, equities analysts anticipate that Chipotle Mexican Grill will post 53.49 EPS for the current year.

Insider Activity

In related news, CEO Brian R. Niccol sold 1,996 shares of the business’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 sale, the chief executive officer now directly owns 22,447 shares of the company’s stock, valued at approximately $53,870,779.77. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Albert S. Baldocchi sold 750 shares of the business’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $2,608.51, for a total value of $1,956,382.50. Following 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 available at this hyperlink. Also, CEO Brian R. Niccol sold 1,996 shares of the business’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $2,399.91, for a total transaction of $4,790,220.36. Following the completion of the sale, the chief executive officer now directly owns 22,447 shares in the company, valued at $53,870,779.77. The disclosure for this sale can be found here. Insiders sold 6,793 shares of company stock valued at $18,321,152 in the last quarter. Company insiders own 0.96% of the company’s stock.

Institutional Investors Weigh In On Chipotle Mexican Grill

Institutional investors have recently added to or reduced their stakes in the stock. Byrne Asset Management LLC lifted its position in Chipotle Mexican Grill by 11.8% during the 1st quarter. Byrne Asset Management LLC now owns 38 shares of the restaurant operator’s stock worth $110,000 after buying an additional 4 shares in the last quarter. Evermay Wealth Management LLC lifted its position in Chipotle Mexican Grill by 1.8% during the 4th quarter. Evermay Wealth Management LLC now owns 231 shares of the restaurant operator’s stock worth $528,000 after buying an additional 4 shares in the last quarter. Peloton Wealth Strategists lifted its position in Chipotle Mexican Grill by 0.3% during the 4th quarter. Peloton Wealth Strategists now owns 1,451 shares of the restaurant operator’s stock worth $3,318,000 after buying an additional 4 shares in the last quarter. Diversified Trust Co lifted its position in Chipotle Mexican Grill by 0.9% during the 1st quarter. Diversified Trust Co now owns 474 shares of the restaurant operator’s stock worth $1,378,000 after buying an additional 4 shares in the last quarter. Finally, Valley National Advisers Inc. lifted its position in Chipotle Mexican Grill by 9.8% during the 1st quarter. Valley National Advisers Inc. now owns 45 shares of the restaurant operator’s stock worth $131,000 after buying an additional 4 shares in the last quarter. 91.31% of the stock is owned by institutional investors.

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.