Deutsche Bank Aktiengesellschaft Increases Chipotle Mexican Grill (NYSE:CMG) Price Target to $3,600.00

Chipotle Mexican Grill (NYSE:CMG) had its target price boosted by equities researchers at Deutsche Bank Aktiengesellschaft from $3,400.00 to $3,600.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the restaurant operator’s stock. Deutsche Bank Aktiengesellschaft’s price target points to a potential upside of 12.87% from the company’s current price.

Several other brokerages have also weighed in on CMG. Raymond James reiterated an “outperform” rating and issued a $3,340.00 price objective (up from $3,300.00) on shares of Chipotle Mexican Grill in a research report on Thursday. Morgan Stanley upped their price target 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. Stephens upped their price target on Chipotle Mexican Grill from $3,010.00 to $3,050.00 and gave the stock an “equal weight” rating in a research note on Thursday. Barclays upped their price target on Chipotle Mexican Grill from $2,246.00 to $2,400.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 7th. Finally, Evercore ISI upped their price target on Chipotle Mexican Grill from $3,200.00 to $3,600.00 and gave the stock an “outperform” rating in a research note on Thursday. Ten analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat, Chipotle Mexican Grill currently has a consensus rating of “Moderate Buy” and an average price target of $3,137.12.

Chipotle Mexican Grill Price Performance

CMG stock opened at $3,189.40 on Thursday. The business has a 50 day simple moving average of $2,822.95 and a 200-day simple moving average of $2,426.07. The firm has a market capitalization of $87.61 billion, a PE ratio of 68.06, a price-to-earnings-growth ratio of 2.60 and a beta of 1.28. Chipotle Mexican Grill has a 1 year low of $1,768.64 and a 1 year high of $3,199.99.

Chipotle Mexican Grill shares are set to split before the market opens 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 issued its quarterly earnings data on Wednesday, April 24th. The restaurant operator reported $13.37 earnings per share for the quarter, topping the consensus estimate of $11.63 by $1.74. The company 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%. On average, equities research analysts expect that Chipotle Mexican Grill will post 54.07 EPS for the current year.

Insider Activity at Chipotle Mexican Grill

In related news, insider Christopher W. Brandt sold 3,149 shares of the 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 transaction, the insider now owns 8,563 shares of the company’s stock, valued at $25,071,093.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Christopher W. Brandt sold 3,149 shares of the 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 transaction, the insider now owns 8,563 shares of the company’s stock, valued at $25,071,093.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Brian R. Niccol sold 1,996 shares of the 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 directly owns 22,447 shares in the company, valued at approximately $53,870,779.77. The disclosure for this sale can be found here. Insiders have sold 6,793 shares of company stock valued at $18,321,152 over the last quarter. 0.96% of the stock is owned by insiders.

Hedge Funds Weigh In On Chipotle Mexican Grill

Hedge funds have recently made changes to their positions in the company. Steph & Co. purchased a new position in shares of Chipotle Mexican Grill during the first quarter worth about $29,000. Fortitude Family Office LLC purchased a new position in shares of Chipotle Mexican Grill during the fourth quarter worth about $32,000. Turtle Creek Wealth Advisors LLC purchased a new position in shares of Chipotle Mexican Grill during the fourth quarter worth about $37,000. ICA Group Wealth Management LLC purchased a new position in shares of Chipotle Mexican Grill during the fourth quarter worth about $37,000. Finally, Annis Gardner Whiting Capital Advisors LLC purchased a new position in shares of Chipotle Mexican Grill during the third quarter worth about $38,000. 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.