Chipotle Mexican Grill (NYSE:CMG) Price Target Raised to $3,500.00 at Robert W. Baird

Chipotle Mexican Grill (NYSE:CMG) had its price target upped by equities research analysts at Robert W. Baird from $3,250.00 to $3,500.00 in a report released on Thursday, Benzinga reports. The firm currently has an “outperform” rating on the restaurant operator’s stock. Robert W. Baird’s price target would indicate a potential upside of 19.73% from the company’s previous close.

CMG has been the subject of several other reports. Truist Financial upped their price objective on Chipotle Mexican Grill from $2,700.00 to $2,920.00 and gave the stock a “buy” rating in a research report on Wednesday, February 7th. Citigroup increased their target price on shares of Chipotle Mexican Grill from $3,016.00 to $3,358.00 and gave the stock a “buy” rating in a report on Monday, April 8th. Stifel Nicolaus lifted their price target on shares of Chipotle Mexican Grill from $2,700.00 to $3,270.00 and gave the company a “buy” rating in a report on Thursday, April 11th. Wedbush increased 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. Finally, Jefferies Financial Group boosted their target price on shares of Chipotle Mexican Grill from $2,350.00 to $2,700.00 and gave the stock a “hold” rating in a research note on Tuesday, April 16th. Eleven analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $2,824.86.

Chipotle Mexican Grill Stock Performance

NYSE:CMG opened at $2,923.32 on Thursday. Chipotle Mexican Grill has a fifty-two week low of $1,768.64 and a fifty-two week high of $3,023.98. The company has a market cap of $80.16 billion, a price-to-earnings ratio of 65.91, a PEG ratio of 2.47 and a beta of 1.28. The stock has a fifty day moving average price of $2,801.11 and a 200-day moving average price of $2,411.76.

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

Chipotle Mexican Grill (NYSE:CMG) last posted its quarterly earnings results on Wednesday, April 24th. The restaurant operator reported $13.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $11.63 by $1.74. Chipotle Mexican Grill had a net margin of 12.45% and a return on equity of 44.41%. The business had revenue of $2.70 billion for the quarter, compared to analyst estimates of $2.67 billion. Research analysts predict that Chipotle Mexican Grill will post 53.49 EPS for the current fiscal year.

Insider Transactions at Chipotle Mexican Grill

In related news, CEO Brian R. Niccol sold 1,996 shares of Chipotle Mexican Grill 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 completion of the sale, the chief executive officer now owns 22,447 shares of the company’s stock, valued at approximately $53,870,779.77. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Chipotle Mexican Grill news, insider Christopher W. Brandt sold 3,149 shares of Chipotle Mexican Grill 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 transaction, the insider now owns 8,563 shares of the company’s stock, valued at approximately $25,071,093.92. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Brian R. Niccol sold 1,996 shares of the stock in a transaction dated 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 transaction, 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 have sold 6,793 shares of company stock valued at $18,321,152 over the last ninety days. 0.96% of the stock is owned by company insiders.

Institutional Investors Weigh In On Chipotle Mexican Grill

Hedge funds and other institutional investors have recently bought and sold shares of the business. Byrne Asset Management LLC raised its stake in shares of Chipotle Mexican Grill by 11.8% during the 1st quarter. Byrne Asset Management LLC now owns 38 shares of the restaurant operator’s stock valued at $110,000 after purchasing an additional 4 shares during the period. Evermay Wealth Management LLC lifted its holdings in shares of Chipotle Mexican Grill by 1.8% in the fourth quarter. Evermay Wealth Management LLC now owns 231 shares of the restaurant operator’s stock worth $528,000 after buying an additional 4 shares in the last quarter. Peloton Wealth Strategists grew its stake in Chipotle Mexican Grill by 0.3% during the fourth quarter. Peloton Wealth Strategists now owns 1,451 shares of the restaurant operator’s stock valued at $3,318,000 after acquiring an additional 4 shares in the last quarter. Diversified Trust Co increased its holdings in Chipotle Mexican Grill by 0.9% during the 1st quarter. Diversified Trust Co now owns 474 shares of the restaurant operator’s stock worth $1,378,000 after acquiring an additional 4 shares during the period. Finally, Valley National Advisers Inc. lifted its stake in Chipotle Mexican Grill by 9.8% in the 1st quarter. Valley National Advisers Inc. now owns 45 shares of the restaurant operator’s stock worth $131,000 after purchasing an additional 4 shares in the last quarter. 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.