Robert W. Baird Boosts Chipotle Mexican Grill (NYSE:CMG) Price Target to $3,500.00

Chipotle Mexican Grill (NYSE:CMG) had its price target boosted by Robert W. Baird from $3,250.00 to $3,500.00 in a research note published on Thursday, Benzinga reports. The firm currently has an outperform rating on the restaurant operator’s stock.

CMG has been the topic of several other research reports. Wells Fargo & Company raised their price objective on Chipotle Mexican Grill from $2,600.00 to $2,800.00 and gave the stock an overweight rating in a research note on Wednesday, February 7th. Piper Sandler raised their target price on shares of Chipotle Mexican Grill from $1,930.00 to $2,226.00 and gave the stock a neutral rating in a research note on Tuesday, January 16th. Barclays upped their price target on shares of Chipotle Mexican Grill from $2,246.00 to $2,400.00 and gave the stock an equal weight rating in a research report on Wednesday, February 7th. Morgan Stanley lifted their target price on shares of Chipotle Mexican Grill from $2,500.00 to $2,986.00 and gave the company an equal weight rating in a research note on Friday, April 12th. Finally, Stephens began coverage on Chipotle Mexican Grill in a research note on Friday, April 12th. They issued an equal weight rating and a $3,010.00 price target for the company. Ten equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $3,137.12.

Chipotle Mexican Grill Stock Up 2.4 %

Chipotle Mexican Grill stock opened at $3,186.97 on Thursday. Chipotle Mexican Grill has a 52-week low of $1,768.64 and a 52-week high of $3,199.99. The company has a market cap of $87.55 billion, a P/E ratio of 68.01, a P/E/G ratio of 2.67 and a beta of 1.28. The business has a 50-day simple moving average of $2,822.95 and a two-hundred day simple moving average of $2,430.22.

Shares of Chipotle Mexican Grill are set to split before the market opens 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 issued its quarterly 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 net margin of 12.70% and a return on equity of 43.74%. The business had revenue of $2.70 billion for the quarter, compared to analysts’ expectations of $2.67 billion. Research analysts anticipate that Chipotle Mexican Grill will post 55.08 EPS for the current fiscal year.

Insider Activity

In related news, insider Christopher W. Brandt sold 3,149 shares of the 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 sale, the insider now owns 8,563 shares in the company, valued at approximately $25,071,093.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Christopher W. Brandt sold 3,149 shares of the company’s stock in a transaction dated Wednesday, March 20th. The shares were 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 legal filing 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 dated Wednesday, February 14th. The stock was sold at an average price of $2,608.51, for a total transaction of $1,956,382.50. Following the completion of the sale, the director now directly 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. Insiders sold 6,793 shares of company stock valued at $18,321,152 in the last ninety days. Insiders own 0.96% of the company’s stock.

Institutional Trading of Chipotle Mexican Grill

A number of hedge funds and other institutional investors have recently bought and sold shares of CMG. Steph & Co. purchased a new position in Chipotle Mexican Grill in the 1st quarter worth about $29,000. Fortitude Family Office LLC purchased a new position in shares of Chipotle Mexican Grill during the fourth quarter worth approximately $32,000. Turtle Creek Wealth Advisors LLC bought a new stake in shares of Chipotle Mexican Grill during the fourth quarter valued at approximately $37,000. ICA Group Wealth Management LLC purchased a new stake in shares of Chipotle Mexican Grill in the fourth quarter valued at approximately $37,000. Finally, Keener Financial Planning LLC bought a new position in Chipotle Mexican Grill in the fourth quarter worth approximately $43,000. 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.