Chipotle Mexican Grill (NYSE:CMG) Given New $3,500.00 Price Target at TD Cowen

Chipotle Mexican Grill (NYSE:CMG) had its target price raised by TD Cowen from $3,400.00 to $3,500.00 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has a “buy” rating on the restaurant operator’s stock. TD Cowen’s price target points to a potential upside of 19.73% from the company’s current price.

Several other research analysts have also recently commented on the company. BMO Capital Markets boosted their price target on Chipotle Mexican Grill from $2,100.00 to $2,400.00 and gave the stock a “market perform” rating in a research note on Wednesday, February 7th. UBS Group boosted their price target on Chipotle Mexican Grill from $2,900.00 to $3,400.00 and gave the stock a “buy” rating in a research note on Thursday, April 11th. Jefferies Financial Group boosted their price target on Chipotle Mexican Grill from $2,350.00 to $2,700.00 and gave the stock a “hold” rating in a research note on Tuesday, April 16th. Piper Sandler boosted their price target on 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. Finally, Argus boosted their price target on Chipotle Mexican Grill from $3,265.00 to $3,366.00 and gave the stock a “buy” rating in a research note on Thursday, April 4th. Eleven equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $2,852.54.

Chipotle Mexican Grill Price Performance

Shares of NYSE CMG opened at $2,923.32 on Thursday. Chipotle Mexican Grill has a 1-year low of $1,768.64 and a 1-year high of $3,023.98. The business has a 50-day moving average of $2,801.11 and a 200-day moving average of $2,411.76. The company has a market capitalization of $80.16 billion, a price-to-earnings ratio of 65.91, a PEG ratio of 2.47 and a beta of 1.28.

Shares of Chipotle Mexican Grill are set to split on the morning of Wednesday, June 26th. The 50-1 split was announced on Tuesday, March 19th. The newly created shares will be payable to shareholders after the closing bell on Tuesday, June 25th.

Chipotle Mexican Grill (NYSE:CMG) last issued its 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 return on equity of 44.41% and a net margin of 12.45%. The company had revenue of $2.70 billion during the quarter, compared to the consensus estimate of $2.67 billion. Research analysts expect that Chipotle Mexican Grill will post 53.49 EPS for the current fiscal year.

Insider Buying and Selling at Chipotle Mexican Grill

In other Chipotle Mexican Grill news, CEO Brian R. Niccol sold 1,996 shares of the stock in a transaction on Monday, January 29th. The stock was sold at an average price of $2,399.91, for a total transaction of $4,790,220.36. Following the completion of the transaction, the chief executive officer now directly owns 22,447 shares of the company’s stock, valued at approximately $53,870,779.77. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CEO Brian R. Niccol sold 1,996 shares of the stock in a transaction on Monday, January 29th. The stock was 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 owns 22,447 shares in the company, valued at $53,870,779.77. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Christopher W. Brandt sold 3,149 shares of the stock in a transaction 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 owns 8,563 shares of the company’s stock, valued at approximately $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 Trading of Chipotle Mexican Grill

A number of hedge funds have recently modified their holdings of CMG. Northern Trust Corp raised its holdings in shares of Chipotle Mexican Grill by 5.0% during the third quarter. Northern Trust Corp now owns 283,203 shares of the restaurant operator’s stock worth $518,780,000 after acquiring an additional 13,513 shares in the last quarter. Covestor Ltd increased its position in Chipotle Mexican Grill by 9.2% during the third quarter. Covestor Ltd now owns 95 shares of the restaurant operator’s stock worth $174,000 after buying an additional 8 shares during the last quarter. NewEdge Wealth LLC acquired a new position in Chipotle Mexican Grill during the third quarter worth $205,000. Laidlaw Wealth Management LLC grew its position in shares of Chipotle Mexican Grill by 69.8% in the third quarter. Laidlaw Wealth Management LLC now owns 270 shares of the restaurant operator’s stock valued at $495,000 after purchasing an additional 111 shares during the last quarter. Finally, Clearstead Advisors LLC grew its position in shares of Chipotle Mexican Grill by 0.7% in the third quarter. Clearstead Advisors LLC now owns 773 shares of the restaurant operator’s stock valued at $1,416,000 after purchasing an additional 5 shares during the last quarter. 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.