Chipotle Mexican Grill (NYSE:CMG) Given New $3,440.00 Price Target at Truist Financial

Chipotle Mexican Grill (NYSE:CMG) had its price objective hoisted 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 target would indicate a potential upside of 9.67% from the company’s previous close.

A number of other analysts have also recently issued reports on CMG. Barclays raised their target price on shares of Chipotle Mexican Grill from $2,400.00 to $2,865.00 and gave the stock an “equal weight” rating in a research note on Thursday. Wedbush raised their target price on shares of Chipotle Mexican Grill from $2,850.00 to $3,200.00 and gave the stock a “neutral” rating in a research note on Thursday. Raymond James reiterated an “outperform” rating and issued a $3,340.00 price objective (up previously from $3,300.00) on shares of Chipotle Mexican Grill in a research note on Thursday. BTIG Research lifted their price objective on shares of Chipotle Mexican Grill from $3,250.00 to $3,350.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Piper Sandler lifted their price objective on shares of Chipotle Mexican Grill from $2,442.00 to $3,070.00 and gave the stock a “neutral” rating in a research note on Thursday. Eleven equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $3,057.29.

Chipotle Mexican Grill Trading Up 7.2 %

Shares of CMG traded up $209.78 during midday trading on Thursday, reaching $3,136.54. The stock had a trading volume of 448,944 shares, compared to its average volume of 238,141. The firm has a 50 day simple moving average of $2,801.11 and a 200-day simple moving average of $2,411.76. Chipotle Mexican Grill has a one year low of $1,768.64 and a one year high of $3,136.54. The firm has a market cap of $86.00 billion, a PE ratio of 70.72, a P/E/G ratio of 2.47 and a beta of 1.28.

Shares of Chipotle Mexican Grill are scheduled to split on the morning of Wednesday, June 26th. The 50-1 split was announced on Tuesday, March 19th. The newly minted shares will be payable to shareholders after the closing bell on Tuesday, June 25th.

Chipotle Mexican Grill (NYSE:CMG) last posted its 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. The company had revenue of $2.70 billion during the quarter, compared to analysts’ expectations of $2.67 billion. Chipotle Mexican Grill had a net margin of 12.45% and a return on equity of 44.41%. As a group, research analysts forecast that Chipotle Mexican Grill will post 53.49 EPS for the current fiscal 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 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 transaction, the insider now owns 8,563 shares in the company, valued at approximately $25,071,093.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Chipotle Mexican Grill news, insider Roger E. Theodoredis sold 898 shares of the company’s 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 $4,009,420.25. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Christopher W. Brandt sold 3,149 shares of the company’s stock in a transaction on Wednesday, March 20th. The stock was 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 owns 8,563 shares of the company’s stock, valued at approximately $25,071,093.92. The disclosure for this sale can be found here. Insiders have sold 6,793 shares of company stock worth $18,321,152 in the last quarter. Company insiders own 0.96% of the company’s stock.

Institutional Trading of Chipotle Mexican Grill

Several institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Chipotle Mexican Grill by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 2,707,233 shares of the restaurant operator’s stock worth $6,191,334,000 after acquiring an additional 23,151 shares in the last quarter. Capital World Investors grew its position in Chipotle Mexican Grill by 0.8% during the fourth quarter. Capital World Investors now owns 1,125,974 shares of the restaurant operator’s stock valued at $2,575,057,000 after buying an additional 8,541 shares during the period. Artisan Partners Limited Partnership grew its position in Chipotle Mexican Grill by 1.5% during the third quarter. Artisan Partners Limited Partnership now owns 509,953 shares of the restaurant operator’s stock valued at $934,147,000 after buying an additional 7,677 shares during the period. FMR LLC boosted its position in Chipotle Mexican Grill by 5.9% during the third quarter. FMR LLC now owns 449,942 shares of the restaurant operator’s stock worth $824,217,000 after purchasing an additional 24,991 shares during the period. Finally, American Century Companies Inc. boosted its position in Chipotle Mexican Grill by 3.5% during the third quarter. American Century Companies Inc. now owns 399,902 shares of the restaurant operator’s stock worth $732,552,000 after purchasing an additional 13,482 shares during the period. Institutional investors 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.