Chipotle Mexican Grill (NYSE:CMG) Given New $3,440.00 Price Target at Truist Financial

Chipotle Mexican Grill (NYSE:CMG) had its price target hoisted by Truist Financial from $3,250.00 to $3,440.00 in a report released on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the restaurant operator’s stock. Truist Financial’s price target would indicate a potential upside of 9.67% from the company’s previous close.

Other equities analysts have also recently issued research reports about the stock. Oppenheimer reiterated an “outperform” rating and issued a $3,300.00 price target (up previously from $2,825.00) on shares of Chipotle Mexican Grill in a research note on Thursday. Citigroup upped their price target on shares of Chipotle Mexican Grill from $3,016.00 to $3,358.00 and gave the stock a “buy” rating in a research note on Monday, April 8th. TD Cowen upped their target price 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. UBS Group upped their target price 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. Finally, Robert W. Baird upped their target price on shares of Chipotle Mexican Grill from $3,250.00 to $3,500.00 and gave the company an “outperform” rating in a research note on Thursday. Eleven investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $3,057.29.

Chipotle Mexican Grill Stock Performance

Shares of CMG traded up $209.78 during trading hours on Thursday, hitting $3,136.54. The company had a trading volume of 448,944 shares, compared to its average volume of 238,141. The stock has a market capitalization of $86.00 billion, a price-to-earnings ratio of 70.72, a P/E/G ratio of 2.47 and a beta of 1.28. The firm has a fifty day moving average price of $2,801.11 and a 200-day moving average price of $2,411.76. Chipotle Mexican Grill has a 52-week low of $1,768.64 and a 52-week high of $3,136.54.

Chipotle Mexican Grill shares are scheduled to split on the morning of 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 announced its quarterly 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. The company had revenue of $2.70 billion for the quarter, compared to analysts’ expectations of $2.67 billion. Chipotle Mexican Grill had a net margin of 12.45% and a return on equity of 44.41%. Research analysts anticipate that Chipotle Mexican Grill will post 53.49 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Christopher W. Brandt sold 3,149 shares of the stock in a transaction that occurred on Wednesday, March 20th. The shares were 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 is available at this hyperlink. In related news, CEO Brian R. Niccol sold 1,996 shares of the stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 22,447 shares of the company’s stock, valued at approximately $53,870,779.77. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Christopher W. Brandt sold 3,149 shares of the stock in a transaction that occurred 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 sale, the insider now directly owns 8,563 shares of the company’s stock, valued at $25,071,093.92. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,793 shares of company stock valued at $18,321,152. 0.96% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Chipotle Mexican Grill

Institutional investors have recently added to or reduced their stakes in the stock. Steph & Co. purchased a new stake in Chipotle Mexican Grill during the 1st quarter valued at approximately $29,000. Fortitude Family Office LLC purchased a new stake in Chipotle Mexican Grill during the 4th quarter valued at approximately $32,000. Turtle Creek Wealth Advisors LLC purchased a new stake in Chipotle Mexican Grill during the 4th quarter valued at approximately $37,000. ICA Group Wealth Management LLC purchased a new stake in Chipotle Mexican Grill during the 4th quarter valued at approximately $37,000. Finally, Annis Gardner Whiting Capital Advisors LLC purchased a new stake in Chipotle Mexican Grill during the 3rd quarter valued at approximately $38,000. 91.31% of the stock is owned by hedge funds and other institutional investors.

Chipotle Mexican Grill Company Profile

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.