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

Chipotle Mexican Grill (NYSE:CMG) had its price target raised by equities research analysts at Deutsche Bank Aktiengesellschaft from $3,400.00 to $3,600.00 in a research note issued on Thursday, Benzinga reports. The firm presently has a “buy” rating on the restaurant operator’s stock. Deutsche Bank Aktiengesellschaft’s price objective points to a potential upside of 12.87% from the company’s current price.

A number of other research analysts also recently issued reports on the company. Evercore ISI upped their price target on Chipotle Mexican Grill from $3,200.00 to $3,600.00 and gave the company an “outperform” rating in a report on Thursday. Raymond James reissued an “outperform” rating and issued a $3,340.00 target price (up previously from $3,300.00) on shares of Chipotle Mexican Grill in a report on Thursday. KeyCorp increased their target price on Chipotle Mexican Grill from $2,750.00 to $3,250.00 and gave the company an “overweight” rating in a report on Tuesday, April 9th. BMO Capital Markets increased their target price on Chipotle Mexican Grill from $2,100.00 to $2,400.00 and gave the company a “market perform” rating in a report on Wednesday, February 7th. Finally, Truist Financial increased their target price on Chipotle Mexican Grill from $2,700.00 to $2,920.00 and gave the company a “buy” rating in a report on Wednesday, February 7th. Ten analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $3,137.12.

Chipotle Mexican Grill Price Performance

Shares of NYSE:CMG opened at $3,189.40 on Thursday. The company has a market cap of $87.61 billion, a P/E ratio of 68.06, a PEG ratio of 2.60 and a beta of 1.28. Chipotle Mexican Grill has a 1 year low of $1,768.64 and a 1 year high of $3,199.99. The stock’s fifty day moving average price is $2,822.95 and its 200-day moving average price is $2,426.07.

Chipotle Mexican Grill shares are going to split on Wednesday, June 26th. The 50-1 split was announced on Tuesday, March 19th. The newly minted shares will be distributed 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 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $11.63 by $1.74. The firm had revenue of $2.70 billion for the quarter, compared to the consensus estimate of $2.67 billion. Chipotle Mexican Grill had a return on equity of 43.74% and a net margin of 12.70%. On average, sell-side analysts anticipate that Chipotle Mexican Grill will post 54.07 earnings per share for the current year.

Insider Buying and Selling

In related news, 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 completion of the sale, the insider now owns 8,563 shares in the company, valued at $25,071,093.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, 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 completion of the sale, the insider now owns 8,563 shares in the company, valued at $25,071,093.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Albert S. Baldocchi sold 750 shares of the firm’s stock in a transaction that occurred 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 transaction, the director now owns 37,271 shares of the company’s stock, valued at approximately $97,221,776.21. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 6,793 shares of company stock worth $18,321,152. 0.96% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Chipotle Mexican Grill

Several institutional investors have recently added to or reduced their stakes in CMG. Steph & Co. purchased a new position in Chipotle Mexican Grill during the 1st quarter valued at approximately $29,000. Fortitude Family Office LLC purchased a new position in Chipotle Mexican Grill during the 4th quarter valued at approximately $32,000. Turtle Creek Wealth Advisors LLC purchased a new position in Chipotle Mexican Grill during the 4th quarter valued at approximately $37,000. ICA Group Wealth Management LLC bought a new stake in shares of Chipotle Mexican Grill in the 4th quarter valued at approximately $37,000. Finally, Annis Gardner Whiting Capital Advisors LLC bought a new stake in shares of Chipotle Mexican Grill in the 3rd quarter valued at approximately $38,000. Hedge funds and other 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.