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

Chipotle Mexican Grill (NYSE:CMG) had its target price lifted by Truist Financial from $3,250.00 to $3,440.00 in a research report sent to investors on Thursday, Benzinga reports. Truist Financial currently has a buy rating on the restaurant operator’s stock.

Other research analysts have also recently issued research reports about the company. Wells Fargo & Company raised their target price on Chipotle Mexican Grill from $3,285.00 to $3,300.00 and gave the company an overweight rating in a research note on Thursday. Citigroup raised their price target on Chipotle Mexican Grill from $3,016.00 to $3,358.00 and gave the stock a buy rating in a research note on Monday, April 8th. Oppenheimer reaffirmed an outperform rating and set a $3,300.00 price target (up from $2,825.00) on shares of Chipotle Mexican Grill in a research note on Thursday. KeyCorp raised their price target on Chipotle Mexican Grill from $3,250.00 to $3,400.00 and gave the stock an overweight rating in a research note on Thursday. Finally, Evercore ISI increased their price objective on Chipotle Mexican Grill from $3,200.00 to $3,600.00 and gave the company an outperform rating in a report on Thursday. Eleven research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat, Chipotle Mexican Grill has an average rating of Moderate Buy and an average target price of $3,057.68.

Chipotle Mexican Grill Stock Up 2.3 %

NYSE CMG traded up $71.82 during trading hours on Thursday, hitting $3,183.79. The company had a trading volume of 228,919 shares, compared to its average volume of 241,128. Chipotle Mexican Grill has a fifty-two week low of $1,768.64 and a fifty-two week high of $3,199.99. The business has a fifty day simple moving average of $2,811.11 and a 200-day simple moving average of $2,416.65. The firm has a market cap of $87.46 billion, a P/E ratio of 67.09, a price-to-earnings-growth ratio of 2.48 and a beta of 1.28.

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

Chipotle Mexican Grill (NYSE:CMG) last issued its earnings results on Wednesday, April 24th. The restaurant operator reported $13.37 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $2.70 billion for the quarter, compared to analyst estimates of $2.67 billion. Equities analysts forecast that Chipotle Mexican Grill will post 53.49 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Christopher W. Brandt sold 3,149 shares of the firm’s stock in a transaction that occurred 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 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 is available through this link. In related news, insider Christopher W. Brandt sold 3,149 shares of the firm’s stock in a transaction that occurred 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 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 is available through this link. Also, 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 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 sold 6,793 shares of company stock worth $18,321,152 in the last 90 days. 0.96% of the stock is owned by company insiders.

Hedge Funds Weigh In On Chipotle Mexican Grill

Several institutional investors have recently bought and sold shares of CMG. Norges Bank bought a new stake in shares of Chipotle Mexican Grill during the fourth quarter worth $805,529,000. International Assets Investment Management LLC grew its stake in shares of Chipotle Mexican Grill by 220,249.6% during the fourth quarter. International Assets Investment Management LLC now owns 301,879 shares of the restaurant operator’s stock worth $6,903,850,000 after purchasing an additional 301,742 shares during the period. Wellington Management Group LLP grew its stake in shares of Chipotle Mexican Grill by 41.6% during the third quarter. Wellington Management Group LLP now owns 397,182 shares of the restaurant operator’s stock worth $727,570,000 after purchasing an additional 116,723 shares during the period. Global Assets Advisory LLC acquired a new stake in shares of Chipotle Mexican Grill during the first quarter worth $167,256,000. Finally, 1832 Asset Management L.P. acquired a new stake in shares of Chipotle Mexican Grill during the fourth quarter worth $100,535,000. 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.