Chipotle Mexican Grill (NYSE:CMG) Price Target Increased to $3,200.00 by Analysts at Wedbush

Chipotle Mexican Grill (NYSE:CMG) had its target price raised by Wedbush from $2,850.00 to $3,200.00 in a report released on Thursday, Benzinga reports. They currently have a neutral rating on the restaurant operator’s stock. Wedbush also issued estimates for Chipotle Mexican Grill’s Q2 2024 earnings at $15.39 EPS, Q2 2025 earnings at $18.59 EPS and FY2025 earnings at $68.56 EPS.

CMG has been the subject of a number of other research reports. BMO Capital Markets boosted their price target on Chipotle Mexican Grill from $2,100.00 to $2,400.00 and gave the company a market perform rating in a research report on Wednesday, February 7th. Sanford C. Bernstein upped their target price on Chipotle Mexican Grill from $2,800.00 to $3,200.00 and gave the stock an outperform rating in a research report on Tuesday, March 26th. Deutsche Bank Aktiengesellschaft upped their target price on Chipotle Mexican Grill from $3,100.00 to $3,300.00 and gave the stock a buy rating in a research report on Wednesday, March 20th. UBS Group upped their target price on Chipotle Mexican Grill from $2,900.00 to $3,400.00 and gave the stock a buy rating in a research report on Thursday, April 11th. Finally, Oppenheimer boosted their price target on Chipotle Mexican Grill from $2,225.00 to $2,525.00 and gave the stock an outperform rating in a research note on Friday, January 5th. Eleven equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat, Chipotle Mexican Grill presently has a consensus rating of Moderate Buy and a consensus price target of $3,057.68.

Chipotle Mexican Grill Stock Up 6.5 %

NYSE CMG opened at $3,116.02 on Thursday. Chipotle Mexican Grill has a fifty-two week low of $1,768.64 and a fifty-two week high of $3,145.69. The stock has a market cap of $85.60 billion, a price-to-earnings ratio of 66.50, a price-to-earnings-growth ratio of 2.48 and a beta of 1.28. The business has a fifty day moving average of $2,811.11 and a 200-day moving average of $2,416.65.

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 issued shares will be distributed to shareholders after the market closes on Tuesday, June 25th.

Chipotle Mexican Grill (NYSE:CMG) last announced its quarterly earnings data on Wednesday, April 24th. The restaurant operator reported $13.37 EPS for the quarter, beating analysts’ consensus estimates of $11.63 by $1.74. Chipotle Mexican Grill had a return on equity of 45.46% and a net margin of 12.70%. The business had revenue of $2.70 billion during the quarter, compared to the consensus estimate of $2.67 billion. As a group, analysts anticipate that Chipotle Mexican Grill will post 53.49 EPS for the current year.

Insider Buying and Selling

In other Chipotle Mexican Grill news, CEO Brian R. Niccol sold 1,996 shares of the stock in a transaction on Monday, January 29th. The stock was sold at an average price of $2,399.91, for a total transaction of $4,790,220.36. Following the completion of the transaction, the chief executive officer now directly owns 22,447 shares of the company’s stock, valued at approximately $53,870,779.77. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other 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 transaction of $9,219,768.16. Following the completion of the sale, the insider now owns 8,563 shares in the company, valued at approximately $25,071,093.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 sale, the chief executive officer now owns 22,447 shares of the company’s stock, valued at approximately $53,870,779.77. The disclosure for this sale can be found here. Insiders sold 6,793 shares of company stock valued at $18,321,152 in the last three months. 0.96% of the stock is currently owned by corporate insiders.

Institutional Trading of Chipotle Mexican Grill

A number of hedge funds have recently modified their holdings of the business. Northern Trust Corp increased its position in Chipotle Mexican Grill by 5.0% during the third quarter. Northern Trust Corp now owns 283,203 shares of the restaurant operator’s stock worth $518,780,000 after buying an additional 13,513 shares during the last quarter. Covestor Ltd increased its position in Chipotle Mexican Grill by 9.2% during the third quarter. Covestor Ltd now owns 95 shares of the restaurant operator’s stock worth $174,000 after buying an additional 8 shares during the last quarter. NewEdge Wealth LLC acquired a new position in Chipotle Mexican Grill during the third quarter worth $205,000. Laidlaw Wealth Management LLC increased its position in Chipotle Mexican Grill by 69.8% during the third quarter. Laidlaw Wealth Management LLC now owns 270 shares of the restaurant operator’s stock worth $495,000 after buying an additional 111 shares during the last quarter. Finally, Clearstead Advisors LLC increased its position in Chipotle Mexican Grill by 0.7% during the third quarter. Clearstead Advisors LLC now owns 773 shares of the restaurant operator’s stock worth $1,416,000 after buying an additional 5 shares during the last quarter. 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.