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

Chipotle Mexican Grill (NYSE:CMG) had its target price boosted by investment analysts at Truist Financial from $3,250.00 to $3,440.00 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. Truist Financial’s price objective would indicate a potential upside of 7.86% from the stock’s current price.

CMG has been the topic of a number of other research reports. Wedbush raised their price objective on Chipotle Mexican Grill from $2,850.00 to $3,200.00 and gave the company a “neutral” rating in a research report on Thursday. KeyCorp lifted their target price on Chipotle Mexican Grill from $3,250.00 to $3,400.00 and gave the company an “overweight” rating in a research report on Thursday. Argus boosted their target price on Chipotle Mexican Grill from $3,265.00 to $3,366.00 and gave the stock a “buy” rating in a research note on Thursday, April 4th. Sanford C. Bernstein upped their target price on Chipotle Mexican Grill from $2,800.00 to $3,200.00 and gave the company an “outperform” rating in a research report on Tuesday, March 26th. Finally, Stifel Nicolaus increased 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. Ten research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $3,137.12.

Chipotle Mexican Grill Stock Performance

Shares of Chipotle Mexican Grill stock opened at $3,189.40 on Thursday. The stock’s 50-day simple moving average is $2,822.95 and its 200 day simple moving average is $2,426.07. The stock has a market capitalization of $87.61 billion, a P/E ratio of 68.06, a P/E/G ratio of 2.60 and a beta of 1.28. Chipotle Mexican Grill has a 52-week low of $1,768.64 and a 52-week high of $3,199.99.

Chipotle Mexican Grill shares are scheduled to split on Wednesday, June 26th. The 50-1 split was announced on Tuesday, March 19th. The newly issued shares will be distributed 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 for the quarter, topping analysts’ consensus estimates 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 43.74% and a net margin of 12.70%. Equities research analysts forecast that Chipotle Mexican Grill will post 54.07 EPS for the current fiscal year.

Insider Transactions at Chipotle Mexican Grill

In other news, insider Christopher W. Brandt sold 3,149 shares of the company’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $2,927.84, for a total value of $9,219,768.16. Following 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 document filed with the SEC, which is available at the SEC website. In related news, insider Christopher W. Brandt sold 3,149 shares of Chipotle Mexican Grill stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $2,927.84, for a total value of $9,219,768.16. Following the sale, the insider now owns 8,563 shares of the company’s stock, valued at approximately $25,071,093.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Brian R. Niccol sold 1,996 shares of the business’s stock in a transaction dated 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 directly owns 22,447 shares of the company’s stock, valued at $53,870,779.77. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 6,793 shares of company stock valued at $18,321,152. 0.96% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Northern Trust Corp lifted its holdings in shares of Chipotle Mexican Grill by 5.0% in the third quarter. Northern Trust Corp now owns 283,203 shares of the restaurant operator’s stock valued at $518,780,000 after buying an additional 13,513 shares during the period. Covestor Ltd raised its holdings in Chipotle Mexican Grill by 9.2% in the 3rd quarter. Covestor Ltd now owns 95 shares of the restaurant operator’s stock valued at $174,000 after acquiring an additional 8 shares in the last quarter. NewEdge Wealth LLC acquired a new position in shares of Chipotle Mexican Grill in the 3rd quarter worth approximately $205,000. Laidlaw Wealth Management LLC increased its holdings in Chipotle Mexican Grill by 69.8% during the 3rd quarter. Laidlaw Wealth Management LLC now owns 270 shares of the restaurant operator’s stock valued at $495,000 after purchasing an additional 111 shares in the last quarter. Finally, Clearstead Advisors LLC boosted its position in Chipotle Mexican Grill by 0.7% in the 3rd quarter. Clearstead Advisors LLC now owns 773 shares of the restaurant operator’s stock valued at $1,416,000 after buying an additional 5 shares during the last quarter. Institutional investors and hedge funds own 91.31% of the company’s stock.

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.