Chipotle Mexican Grill (NYSE:CMG) Given New $3,100.00 Price Target at Morgan Stanley

Chipotle Mexican Grill (NYSE:CMG) had its price target upped by research analysts at Morgan Stanley from $2,986.00 to $3,100.00 in a note issued to investors on Thursday, Benzinga reports. The firm presently has an “equal weight” rating on the restaurant operator’s stock. Morgan Stanley’s price objective would indicate a potential downside of 0.22% from the company’s previous close.

Several other research analysts have also weighed in on CMG. BTIG Research boosted their price target on Chipotle Mexican Grill from $2,750.00 to $3,250.00 and gave the stock a “buy” rating in a research report on Thursday, March 28th. UBS Group boosted their target price on Chipotle Mexican Grill from $3,400.00 to $3,500.00 and gave the stock a “buy” rating in a report on Thursday. Truist Financial boosted their target price on Chipotle Mexican Grill from $2,700.00 to $2,920.00 and gave the stock a “buy” rating in a report on Wednesday, February 7th. Barclays boosted their target price on Chipotle Mexican Grill from $2,246.00 to $2,400.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 7th. Finally, Sanford C. Bernstein boosted their price target 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. Eleven analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $3,022.11.

Chipotle Mexican Grill Trading Up 6.2 %

Shares of NYSE:CMG traded up $180.02 during trading on Thursday, hitting $3,106.78. 402,700 shares of the company’s stock traded hands, compared to its average volume of 237,534. Chipotle Mexican Grill has a 52 week low of $1,768.64 and a 52 week high of $3,107.63. The company has a market cap of $85.19 billion, a price-to-earnings ratio of 69.85, a price-to-earnings-growth ratio of 2.47 and a beta of 1.28. The company has a 50-day moving average price of $2,801.11 and a 200-day moving average price of $2,411.76.

Shares of Chipotle Mexican Grill are scheduled to split before the market opens on 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 released 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 firm had revenue of $2.70 billion for the quarter, compared to analysts’ expectations of $2.67 billion. Chipotle Mexican Grill had a return on equity of 44.41% and a net margin of 12.45%. On average, analysts predict that Chipotle Mexican Grill will post 53.49 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Chipotle Mexican Grill news, CEO Brian R. Niccol sold 1,996 shares of the stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $2,399.91, for a total value of $4,790,220.36. Following the transaction, the chief executive officer now owns 22,447 shares in the company, valued at $53,870,779.77. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, CEO Brian R. Niccol sold 1,996 shares of the firm’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $2,399.91, for a total value of $4,790,220.36. Following the transaction, the chief executive officer now owns 22,447 shares in the company, valued at $53,870,779.77. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Roger E. Theodoredis sold 898 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $2,622.25, for a total value of $2,354,780.50. Following the completion of the transaction, the insider now owns 1,529 shares in the company, valued at approximately $4,009,420.25. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 6,793 shares of company stock worth $18,321,152. Corporate insiders own 0.96% of the company’s stock.

Institutional Trading of Chipotle Mexican Grill

A number of hedge funds have recently bought and sold shares of CMG. Vanguard Group Inc. increased its position in Chipotle Mexican Grill by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 2,707,233 shares of the restaurant operator’s stock worth $6,191,334,000 after buying an additional 23,151 shares during the last quarter. Capital World Investors increased its position in Chipotle Mexican Grill by 0.8% in the fourth quarter. Capital World Investors now owns 1,125,974 shares of the restaurant operator’s stock worth $2,575,057,000 after buying an additional 8,541 shares during the last quarter. Artisan Partners Limited Partnership grew its position in shares of Chipotle Mexican Grill by 1.5% in the third 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 in the last quarter. FMR LLC grew its position in shares of Chipotle Mexican Grill by 5.9% in the third 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 in the last quarter. Finally, American Century Companies Inc. grew its position in shares of Chipotle Mexican Grill by 3.5% in the third 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 in the last quarter. 91.31% of the stock is currently 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.