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

Chipotle Mexican Grill (NYSE:CMG) had its price target hoisted by equities researchers at Wedbush from $2,850.00 to $3,200.00 in a research report issued on Thursday, Benzinga reports. The firm presently has a “neutral” rating on the restaurant operator’s stock. Wedbush’s price target indicates a potential upside of 9.46% from the stock’s previous close.

A number of other analysts also recently weighed in on the company. Jefferies Financial Group increased their price objective on Chipotle Mexican Grill from $2,350.00 to $2,700.00 and gave the company a “hold” rating in a report on Tuesday, April 16th. Citigroup increased their price target on 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. Robert W. Baird reiterated an “outperform” rating and set a $2,650.00 price target on shares of Chipotle Mexican Grill in a report on Monday, January 22nd. BTIG Research increased their price target on Chipotle Mexican Grill from $2,750.00 to $3,250.00 and gave the stock a “buy” rating in a report on Thursday, March 28th. Finally, Barclays raised their target price on Chipotle Mexican Grill from $2,246.00 to $2,400.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 7th. Eleven investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $2,824.86.

Chipotle Mexican Grill Stock Performance

Shares of CMG opened at $2,923.32 on Thursday. Chipotle Mexican Grill has a 52 week low of $1,768.64 and a 52 week high of $3,023.98. The stock has a market capitalization 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 of $2,801.11 and a 200-day moving average of $2,411.76.

Chipotle Mexican Grill shares are scheduled to split on 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 announced its quarterly earnings results on Wednesday, April 24th. The restaurant operator reported $13.37 EPS for the quarter, beating analysts’ consensus estimates of $11.63 by $1.74. The company had revenue of $2.70 billion during 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, equities analysts forecast that Chipotle Mexican Grill will post 53.49 EPS for the current year.

Insider Activity at Chipotle Mexican Grill

In related news, insider Roger E. Theodoredis sold 898 shares of Chipotle Mexican Grill stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $2,622.25, for a total value of $2,354,780.50. Following the completion of the transaction, the insider now directly owns 1,529 shares in the company, valued at approximately $4,009,420.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related 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 value of $9,219,768.16. Following the completion of the transaction, the insider now directly owns 8,563 shares in the company, valued at approximately $25,071,093.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Roger E. Theodoredis sold 898 shares of Chipotle Mexican Grill stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $2,622.25, for a total transaction of $2,354,780.50. Following the completion of the transaction, the insider now owns 1,529 shares of the company’s stock, valued at $4,009,420.25. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,793 shares of company stock worth $18,321,152. Corporate insiders own 0.96% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Summit Financial LLC grew its position in shares of Chipotle Mexican Grill by 28.6% during the 1st quarter. Summit Financial LLC now owns 29,171 shares of the restaurant operator’s stock valued at $84,792,000 after purchasing an additional 6,495 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its position in shares of Chipotle Mexican Grill by 15.8% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 4,734 shares of the restaurant operator’s stock valued at $13,761,000 after purchasing an additional 646 shares in the last quarter. Private Trust Co. NA grew its position in shares of Chipotle Mexican Grill by 46.4% during the 1st quarter. Private Trust Co. NA now owns 284 shares of the restaurant operator’s stock valued at $826,000 after purchasing an additional 90 shares in the last quarter. Oxler Private Wealth LLC purchased a new position in shares of Chipotle Mexican Grill during the 1st quarter valued at $1,962,000. Finally, Newbridge Financial Services Group Inc. grew its position in shares of Chipotle Mexican Grill by 9.4% during the 1st quarter. Newbridge Financial Services Group Inc. now owns 257 shares of the restaurant operator’s stock valued at $747,000 after purchasing an additional 22 shares in the last quarter. 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.