Barclays Raises Chipotle Mexican Grill (NYSE:CMG) Price Target to $2,865.00

Chipotle Mexican Grill (NYSE:CMG) had its price target boosted by equities research analysts at Barclays from $2,400.00 to $2,865.00 in a research report issued on Thursday, Benzinga reports. The brokerage presently has an “equal weight” rating on the restaurant operator’s stock. Barclays‘s target price indicates a potential downside of 10.17% from the stock’s current price.

A number of other equities research analysts have also commented on the stock. Morgan Stanley upped their price objective on shares of Chipotle Mexican Grill from $2,986.00 to $3,100.00 and gave the company an “equal weight” rating in a research note on Thursday. Truist Financial upped their price objective on shares of Chipotle Mexican Grill from $2,700.00 to $2,920.00 and gave the company a “buy” rating in a research note on Wednesday, February 7th. Wedbush upped their price objective on shares of Chipotle Mexican Grill from $2,850.00 to $3,200.00 and gave the company a “neutral” rating in a research note on Thursday. KeyCorp upped their price objective on shares of Chipotle Mexican Grill from $3,250.00 to $3,400.00 and gave the company an “overweight” rating in a research note on Thursday. Finally, Stephens upped their price objective on shares of Chipotle Mexican Grill from $3,010.00 to $3,050.00 and gave the company an “equal weight” rating in a research note on Thursday. Ten analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $3,137.12.

Chipotle Mexican Grill Price Performance

CMG opened at $3,189.40 on Thursday. Chipotle Mexican Grill has a fifty-two week low of $1,768.64 and a fifty-two week high of $3,199.99. The firm has a market capitalization of $87.61 billion, a price-to-earnings ratio of 68.06, a PEG ratio of 2.60 and a beta of 1.28. The company’s 50 day moving average price is $2,822.95 and its two-hundred day moving average price is $2,426.07.

Shares of Chipotle Mexican Grill are going to split before the market opens on Wednesday, June 26th. The 50-1 split was announced on Tuesday, March 19th. The newly created shares will be distributed 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 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 firm had revenue of $2.70 billion for the quarter, compared to analyst estimates of $2.67 billion. As a group, equities research analysts predict that Chipotle Mexican Grill will post 54.07 EPS for the current year.

Insider Transactions at Chipotle Mexican Grill

In other news, insider Christopher W. Brandt sold 3,149 shares of the company’s stock in a transaction 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 owns 8,563 shares in the company, valued at approximately $25,071,093.92. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, Director Albert S. Baldocchi sold 750 shares of the company’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $2,608.51, for a total value of $1,956,382.50. Following the completion of the sale, the director now owns 37,271 shares in the company, valued at approximately $97,221,776.21. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 sold a total of 6,793 shares of company stock worth $18,321,152 in the last quarter. 0.96% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Chipotle Mexican Grill

Several institutional investors have recently added to or reduced their stakes in CMG. Steph & Co. bought a new position in Chipotle Mexican Grill during the first quarter valued at about $29,000. Fortitude Family Office LLC bought a new position in Chipotle Mexican Grill during the fourth quarter valued at about $32,000. Turtle Creek Wealth Advisors LLC bought a new position in Chipotle Mexican Grill during the fourth quarter valued at about $37,000. ICA Group Wealth Management LLC bought a new position in Chipotle Mexican Grill during the fourth quarter valued at about $37,000. Finally, Annis Gardner Whiting Capital Advisors LLC bought a new position in Chipotle Mexican Grill during the third quarter valued at about $38,000. 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.