Chipotle Mexican Grill (NYSE:CMG) Price Target Increased to $3,369.00 by Analysts at Citigroup

Chipotle Mexican Grill (NYSE:CMG) had its target price lifted by Citigroup from $3,358.00 to $3,369.00 in a report issued on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the restaurant operator’s stock. Citigroup’s price target points to a potential upside of 8.12% from the company’s current price.

Several other equities analysts also recently issued reports on the stock. TD Cowen upped their price objective on shares of Chipotle Mexican Grill from $3,400.00 to $3,500.00 and gave the company a “buy” rating in a research note on Thursday. Raymond James restated an “outperform” rating and issued a $3,340.00 price objective (up previously from $3,300.00) on shares of Chipotle Mexican Grill in a research note on Thursday. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Chipotle Mexican Grill from $3,400.00 to $3,600.00 and gave the company a “buy” rating in a research note on Thursday. BTIG Research upped their price objective on shares of Chipotle Mexican Grill from $3,250.00 to $3,350.00 and gave the company a “buy” rating in a research note on Thursday. Finally, KeyCorp upped their price objective on shares of Chipotle Mexican Grill from $3,250.00 to $3,400.00 and gave the company an “overweight” rating in a research note on Thursday. Eleven analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $3,057.68.

Chipotle Mexican Grill Trading Up 6.5 %

NYSE:CMG traded up $189.26 during trading hours on Thursday, hitting $3,116.02. The company’s stock had a trading volume of 688,043 shares, compared to its average volume of 241,420. The stock has a market capitalization of $85.44 billion, a P/E ratio of 70.26, a price-to-earnings-growth 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 has a 52-week low of $1,768.64 and a 52-week high of $3,145.69.

Shares of Chipotle Mexican Grill are going to split on Wednesday, June 26th. The 50-1 split was announced on Tuesday, March 19th. The newly issued shares will be distributed to shareholders after the market closes on Tuesday, June 25th.

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

Insider Buying and Selling at Chipotle Mexican Grill

In other Chipotle Mexican Grill news, 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 transaction, the chief executive officer now owns 22,447 shares in the company, valued at approximately $53,870,779.77. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Chipotle Mexican Grill news, 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 transaction, the chief executive officer now owns 22,447 shares in the company, valued at approximately $53,870,779.77. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Christopher W. Brandt sold 3,149 shares of Chipotle Mexican Grill stock in a transaction on 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 completion of the transaction, the insider now owns 8,563 shares in the company, valued at approximately $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 worth $18,321,152 in the last quarter. 0.96% of the stock is owned by insiders.

Hedge Funds Weigh In On Chipotle Mexican Grill

Hedge funds and other institutional investors have recently made changes to their positions in the business. Steph & Co. purchased a new stake in Chipotle Mexican Grill during the 1st quarter worth $29,000. Fortitude Family Office LLC purchased a new stake in Chipotle Mexican Grill during the 4th quarter worth $32,000. Turtle Creek Wealth Advisors LLC purchased a new stake in Chipotle Mexican Grill during the 4th quarter worth $37,000. ICA Group Wealth Management LLC purchased a new stake in Chipotle Mexican Grill during the 4th quarter worth $37,000. Finally, Keener Financial Planning LLC purchased a new stake in Chipotle Mexican Grill during the 4th quarter worth $43,000. 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.