Piper Sandler Raises Chipotle Mexican Grill (NYSE:CMG) Price Target to $3,070.00

Chipotle Mexican Grill (NYSE:CMG) had its price objective upped by Piper Sandler from $2,442.00 to $3,070.00 in a research note published on Thursday, Benzinga reports. They currently have a neutral rating on the restaurant operator’s stock.

Other equities research analysts also recently issued research reports about the stock. BTIG Research raised their price target on shares of Chipotle Mexican Grill from $2,750.00 to $3,250.00 and gave the company a buy rating in a research report on Thursday, March 28th. TD Cowen boosted their price target on Chipotle Mexican Grill from $3,400.00 to $3,500.00 and gave the stock a buy rating in a research note on Thursday. Jefferies Financial Group increased their price objective on Chipotle Mexican Grill from $2,350.00 to $2,700.00 and gave the company a hold rating in a research report on Tuesday, April 16th. Morgan Stanley upped their target price on shares of Chipotle Mexican Grill from $2,500.00 to $2,986.00 and gave the company an equal weight rating in a research note on Friday, April 12th. Finally, Raymond James lifted their price target on shares of Chipotle Mexican Grill from $2,450.00 to $2,550.00 and gave the stock an outperform rating in a research note on Thursday, January 25th. Ten equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat.com, Chipotle Mexican Grill has an average rating of Moderate Buy and a consensus price target of $3,137.12.

Chipotle Mexican Grill Stock Up 2.4 %

CMG stock opened at $3,186.97 on Thursday. The business has a 50 day moving average of $2,822.95 and a 200 day moving average of $2,430.22. The firm has a market cap of $87.55 billion, a PE ratio of 68.01, a price-to-earnings-growth ratio of 2.67 and a beta of 1.28. Chipotle Mexican Grill has a twelve month low of $1,768.64 and a twelve month high of $3,199.99.

Chipotle Mexican Grill shares are going to split on Wednesday, June 26th. The 50-1 split was announced on Tuesday, March 19th. The newly created shares will be payable to shareholders after the market closes on Tuesday, June 25th.

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

Insider Transactions at Chipotle Mexican Grill

In related news, insider Roger E. Theodoredis sold 898 shares of the business’s 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 transaction of $2,354,780.50. Following the completion of the transaction, the insider now directly owns 1,529 shares in the company, valued at approximately $4,009,420.25. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CEO Brian R. Niccol sold 1,996 shares of the firm’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 sale, the chief executive officer now directly owns 22,447 shares in the company, valued at approximately $53,870,779.77. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Roger E. Theodoredis sold 898 shares of Chipotle Mexican Grill stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $2,622.25, for a total transaction of $2,354,780.50. Following 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. Insiders have sold 6,793 shares of company stock valued at $18,321,152 over the last quarter. 0.96% of the stock is currently 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. Steph & Co. purchased a new stake in shares of Chipotle Mexican Grill during the first quarter worth about $29,000. Fortitude Family Office LLC bought a new position in Chipotle Mexican Grill in the 4th quarter worth approximately $32,000. Turtle Creek Wealth Advisors LLC purchased a new stake in Chipotle Mexican Grill during the 4th quarter valued at approximately $37,000. ICA Group Wealth Management LLC bought a new stake in shares of Chipotle Mexican Grill during the fourth quarter valued at approximately $37,000. Finally, Annis Gardner Whiting Capital Advisors LLC purchased a new position in shares of Chipotle Mexican Grill in the third quarter worth $38,000. 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.