Chipotle Mexican Grill (NYSE:CMG) PT Raised to $3,500.00 at UBS Group

Chipotle Mexican Grill (NYSE:CMG) had its price objective upped by equities research analysts at UBS Group from $3,400.00 to $3,500.00 in a research report issued on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the restaurant operator’s stock. UBS Group’s target price suggests a potential upside of 15.56% from the company’s current price.

Several other equities research analysts have also issued reports on the company. Oppenheimer reaffirmed an “outperform” rating and set a $3,300.00 price target (up previously from $2,825.00) on shares of Chipotle Mexican Grill in a research note on Thursday. Raymond James lifted their price target on Chipotle Mexican Grill from $2,450.00 to $2,550.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. BMO Capital Markets lifted their price target on Chipotle Mexican Grill from $2,100.00 to $2,400.00 and gave the stock a “market perform” rating in a research note on Wednesday, February 7th. BTIG Research boosted their target price on Chipotle Mexican Grill from $2,750.00 to $3,250.00 and gave the company a “buy” rating in a research note on Thursday, March 28th. Finally, Argus increased their price objective on Chipotle Mexican Grill from $3,265.00 to $3,366.00 and gave the stock a “buy” rating in a report on Thursday, April 4th. Eleven equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $2,918.39.

Chipotle Mexican Grill Price Performance

Shares of CMG stock traded up $101.94 during trading hours on Thursday, reaching $3,028.70. The company had a trading volume of 255,842 shares, compared to its average volume of 235,746. The business has a fifty day simple moving average of $2,801.11 and a 200-day simple moving average of $2,411.76. The company has a market cap of $83.05 billion, a price-to-earnings ratio of 68.20, a price-to-earnings-growth ratio of 2.47 and a beta of 1.28. Chipotle Mexican Grill has a 12 month low of $1,768.64 and a 12 month high of $3,071.71.

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 minted shares will be issued to shareholders after the closing bell on Tuesday, June 25th.

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

Insider Activity at Chipotle Mexican Grill

In related news, 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 value of $9,219,768.16. Following 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 legal filing with the SEC, which is available through this hyperlink. In other Chipotle Mexican Grill 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 sale, the director now directly owns 37,271 shares of the company’s stock, valued at $97,221,776.21. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Christopher W. Brandt sold 3,149 shares of the stock in a transaction dated 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 sale, the insider now directly owns 8,563 shares in the company, valued at $25,071,093.92. The disclosure for this sale can be found here. Insiders have sold a total of 6,793 shares of company stock valued at $18,321,152 in the last ninety days. Company insiders own 0.96% of the company’s stock.

Institutional Trading of Chipotle Mexican Grill

Institutional investors have recently added to or reduced their stakes in the stock. Northern Trust Corp lifted its position in shares of Chipotle Mexican Grill by 5.0% during the 3rd quarter. Northern Trust Corp now owns 283,203 shares of the restaurant operator’s stock worth $518,780,000 after purchasing an additional 13,513 shares during the last quarter. Covestor Ltd increased its stake in shares of Chipotle Mexican Grill by 9.2% during the third quarter. Covestor Ltd now owns 95 shares of the restaurant operator’s stock worth $174,000 after acquiring an additional 8 shares during the period. NewEdge Wealth LLC acquired a new position in shares of Chipotle Mexican Grill during the third quarter worth about $205,000. Laidlaw Wealth Management LLC increased its stake in shares of Chipotle Mexican Grill by 69.8% during the third quarter. Laidlaw Wealth Management LLC now owns 270 shares of the restaurant operator’s stock worth $495,000 after acquiring an additional 111 shares during the period. Finally, Clearstead Advisors LLC increased its stake in shares of Chipotle Mexican Grill by 0.7% during the third quarter. Clearstead Advisors LLC now owns 773 shares of the restaurant operator’s stock worth $1,416,000 after acquiring an additional 5 shares during the period. Institutional investors and hedge funds 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.