Brokerages Set Chipotle Mexican Grill, Inc. (NYSE:CMG) Target Price at $2,505.46

Shares of Chipotle Mexican Grill, Inc. (NYSE:CMG) have earned an average rating of “Moderate Buy” from the twenty-five ratings firms that are covering the company, Marketbeat.com reports. Eight analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $2,547.85.

Several brokerages have issued reports on CMG. BMO Capital Markets raised their price objective on shares of Chipotle Mexican Grill from $2,100.00 to $2,400.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 7th. Raymond James raised their price objective on shares of Chipotle Mexican Grill from $2,450.00 to $2,550.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. Oppenheimer lifted their target price on shares of Chipotle Mexican Grill from $2,225.00 to $2,525.00 and gave the company an “outperform” rating in a report on Friday, January 5th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Chipotle Mexican Grill from $3,100.00 to $3,300.00 and gave the company a “buy” rating in a report on Wednesday, March 20th. Finally, Piper Sandler lifted their target price on shares of Chipotle Mexican Grill from $1,930.00 to $2,226.00 and gave the company a “neutral” rating in a report on Tuesday, January 16th.

Chipotle Mexican Grill Price Performance

Shares of NYSE:CMG opened at $2,923.46 on Thursday. The company’s fifty day moving average price is $2,605.55 and its 200 day moving average price is $2,262.45. Chipotle Mexican Grill has a 12 month low of $1,633.71 and a 12 month high of $3,023.98. The firm has a market capitalization of $80.16 billion, a P/E ratio of 65.92, a P/E/G ratio of 2.49 and a beta of 1.29.

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

Chipotle Mexican Grill (NYSE:CMG) last issued its quarterly earnings data on Tuesday, February 6th. The restaurant operator reported $10.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.73 by $0.63. Chipotle Mexican Grill had a net margin of 12.45% and a return on equity of 44.41%. The company had revenue of $2.52 billion for the quarter, compared to the consensus estimate of $2.49 billion. During the same period last year, the firm posted $8.29 EPS. Chipotle Mexican Grill’s revenue for the quarter was up 15.4% on a year-over-year basis. On average, sell-side analysts anticipate that Chipotle Mexican Grill will post 53.12 EPS for the current year.

Insider Activity at Chipotle Mexican Grill

In related news, insider Christopher W. Brandt sold 3,149 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 8,563 shares in the company, valued at $25,071,093.92. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Chipotle Mexican Grill news, insider Christopher W. Brandt sold 3,149 shares of the business’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $2,927.84, for a total transaction of $9,219,768.16. Following the completion of the sale, the insider now directly owns 8,563 shares in the company, valued at $25,071,093.92. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Albert S. Baldocchi sold 750 shares of the business’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $2,608.51, for a total transaction of $1,956,382.50. Following the sale, the director now owns 37,271 shares of the company’s stock, valued at $97,221,776.21. The disclosure for this sale can be found here. Over the last three months, insiders sold 7,893 shares of company stock worth $20,827,447. 0.96% of the stock is owned by company insiders.

Institutional Investors Weigh In On Chipotle Mexican Grill

Several institutional investors have recently bought and sold shares of the business. Fortitude Family Office LLC purchased a new position in shares of Chipotle Mexican Grill in the fourth quarter valued at $32,000. Coppell Advisory Solutions LLC purchased a new position in shares of Chipotle Mexican Grill in the second quarter valued at $32,000. IMA Wealth Inc. boosted its stake in shares of Chipotle Mexican Grill by 185.7% in the first quarter. IMA Wealth Inc. now owns 20 shares of the restaurant operator’s stock valued at $34,000 after purchasing an additional 13 shares during the period. Turtle Creek Wealth Advisors LLC purchased a new position in shares of Chipotle Mexican Grill in the fourth quarter valued at $37,000. Finally, ICA Group Wealth Management LLC purchased a new position in shares of Chipotle Mexican Grill in the fourth quarter valued at $37,000. 91.31% of the stock is currently owned by hedge funds and other 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.