Chipotle Mexican Grill (NYSE:CMG) Price Target Raised to $2,986.00 at Morgan Stanley

Chipotle Mexican Grill (NYSE:CMG) had its price objective raised by Morgan Stanley from $2,500.00 to $2,986.00 in a research report released on Friday, Benzinga reports. The brokerage currently has an equal weight rating on the restaurant operator’s stock.

CMG has been the topic of a number of other research reports. BTIG Research raised their target price on Chipotle Mexican Grill from $2,750.00 to $3,250.00 and gave the company a buy rating in a report on Thursday, March 28th. Truist Financial raised their price objective on Chipotle Mexican Grill from $2,700.00 to $2,920.00 and gave the stock a buy rating in a research report on Wednesday, February 7th. Argus raised their price objective on Chipotle Mexican Grill from $3,265.00 to $3,366.00 and gave the stock a buy rating in a research report on Thursday, April 4th. Oppenheimer raised their price objective on Chipotle Mexican Grill from $2,225.00 to $2,525.00 and gave the stock an outperform rating in a research report on Friday, January 5th. Finally, Robert W. Baird reiterated an outperform rating and issued a $2,650.00 price objective on shares of Chipotle Mexican Grill in a research report on Monday, January 22nd. 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, Chipotle Mexican Grill has a consensus rating of Moderate Buy and a consensus target price of $2,720.59.

Chipotle Mexican Grill Stock Performance

Shares of NYSE CMG opened at $2,936.63 on Friday. The firm has a market cap of $80.52 billion, a price-to-earnings ratio of 66.21, a P/E/G ratio of 2.53 and a beta of 1.28. The business’s 50-day simple moving average is $2,759.02 and its 200-day simple moving average is $2,363.48. Chipotle Mexican Grill has a 52 week low of $1,738.66 and a 52 week high of $3,023.98.

Shares of Chipotle Mexican Grill are going 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 released its earnings results on Tuesday, February 6th. The restaurant operator reported $10.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $9.73 by $0.63. The firm had revenue of $2.52 billion for the quarter, compared to analyst estimates of $2.49 billion. Chipotle Mexican Grill had a return on equity of 44.41% and a net margin of 12.45%. The company’s revenue was up 15.4% on a year-over-year basis. During the same quarter last year, the firm posted $8.29 EPS. As a group, equities research analysts forecast that Chipotle Mexican Grill will post 53.31 earnings per share for the current year.

Insider Activity at Chipotle Mexican Grill

In related news, insider Roger E. Theodoredis sold 898 shares of the firm’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $2,622.25, for a total transaction of $2,354,780.50. Following the completion of the sale, the insider now directly owns 1,529 shares of the company’s stock, valued at approximately $4,009,420.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Christopher W. Brandt sold 3,149 shares of Chipotle Mexican Grill 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 completion of the sale, 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 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 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 sale, the insider now directly owns 1,529 shares of the company’s stock, valued at $4,009,420.25. 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 three months. Corporate insiders own 0.96% of the company’s stock.

Institutional Investors Weigh In On Chipotle Mexican Grill

Several hedge funds and other institutional investors have recently made changes to their positions in CMG. Steph & Co. acquired a new stake in shares of Chipotle Mexican Grill in the 1st quarter valued at $29,000. Fortitude Family Office LLC acquired a new stake in shares of Chipotle Mexican Grill during the fourth quarter worth $32,000. Coppell Advisory Solutions LLC acquired a new stake in shares of Chipotle Mexican Grill during the second quarter worth $32,000. IMA Wealth Inc. grew its stake in shares of Chipotle Mexican Grill by 185.7% during the first quarter. IMA Wealth Inc. now owns 20 shares of the restaurant operator’s stock worth $34,000 after purchasing an additional 13 shares during the period. Finally, Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Chipotle Mexican Grill during the fourth quarter worth $37,000. 91.31% of the stock is owned by institutional investors and hedge funds.

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.