Deutsche Bank Aktiengesellschaft Increases Chipotle Mexican Grill (NYSE:CMG) Price Target to $3,600.00

Chipotle Mexican Grill (NYSE:CMG) had its target price raised by investment analysts at Deutsche Bank Aktiengesellschaft from $3,400.00 to $3,600.00 in a report released on Thursday, Benzinga reports. The firm currently has a “buy” rating on the restaurant operator’s stock. Deutsche Bank Aktiengesellschaft’s price objective would suggest a potential upside of 15.88% from the company’s previous close.

CMG has been the topic of a number of other reports. Evercore ISI lifted their price target on Chipotle Mexican Grill from $3,200.00 to $3,600.00 and gave the stock an “outperform” rating in a research note on Thursday. Wells Fargo & Company lifted their price target on Chipotle Mexican Grill from $3,285.00 to $3,300.00 and gave the stock an “overweight” rating in a research note on Thursday. Barclays lifted their price target on Chipotle Mexican Grill from $2,246.00 to $2,400.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 7th. Argus boosted their target price on Chipotle Mexican Grill from $3,265.00 to $3,366.00 and gave the company a “buy” rating in a research note on Thursday, April 4th. Finally, Citigroup boosted their target price on Chipotle Mexican Grill from $3,016.00 to $3,358.00 and gave the company a “buy” rating in a research note on Monday, April 8th. Eleven investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $3,022.11.

Chipotle Mexican Grill Stock Up 6.2 %

Shares of NYSE CMG traded up $180.02 during trading hours on Thursday, reaching $3,106.78. 402,700 shares of the stock traded hands, compared to its average volume of 237,534. The company has a market capitalization of $85.19 billion, a P/E ratio of 69.85, a price-to-earnings-growth ratio of 2.47 and a beta of 1.28. Chipotle Mexican Grill has a 52-week low of $1,768.64 and a 52-week high of $3,107.63. The company’s 50-day simple moving average is $2,801.11 and its two-hundred day simple moving average is $2,411.76.

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

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

Insider Transactions at Chipotle Mexican Grill

In other news, insider Christopher W. Brandt sold 3,149 shares of the business’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $2,927.84, for a total value of $9,219,768.16. Following the completion of the transaction, the insider now directly owns 8,563 shares of the company’s stock, valued at approximately $25,071,093.92. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, insider Christopher W. Brandt sold 3,149 shares of the business’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 transaction, the insider now directly owns 8,563 shares in the company, valued at approximately $25,071,093.92. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Brian R. Niccol sold 1,996 shares of the business’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $2,399.91, for a total value of $4,790,220.36. Following the transaction, the chief executive officer now owns 22,447 shares in the company, valued at $53,870,779.77. The disclosure for this sale can be found here. In the last three months, insiders sold 6,793 shares of company stock valued at $18,321,152. Corporate insiders own 0.96% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in CMG. Steph & Co. purchased a new stake in Chipotle Mexican Grill during the 1st quarter valued at about $29,000. Fortitude Family Office LLC purchased a new stake in Chipotle Mexican Grill during the 4th quarter valued at about $32,000. Turtle Creek Wealth Advisors LLC purchased a new stake in Chipotle Mexican Grill during the 4th quarter valued at about $37,000. ICA Group Wealth Management LLC purchased a new stake in Chipotle Mexican Grill during the 4th quarter valued at about $37,000. Finally, Keener Financial Planning LLC purchased a new stake in Chipotle Mexican Grill during the 4th quarter valued at about $43,000. 91.31% of the stock is currently owned by hedge funds and other institutional investors.

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.