Chipotle Mexican Grill (NYSE:CMG) Given New $3,070.00 Price Target at Piper Sandler

Chipotle Mexican Grill (NYSE:CMG) had its price objective increased by Piper Sandler from $2,442.00 to $3,070.00 in a report released on Thursday morning, Benzinga reports. Piper Sandler currently has a neutral rating on the restaurant operator’s stock.

A number of other equities analysts have also recently commented on the stock. BMO Capital Markets lifted their price target on shares of 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. Barclays lifted 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 note on Wednesday, February 7th. Citigroup lifted 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. Argus boosted their price objective on shares of Chipotle Mexican Grill from $3,265.00 to $3,366.00 and gave the company a buy rating in a research report on Thursday, April 4th. Finally, Sanford C. Bernstein boosted their price objective on shares of Chipotle Mexican Grill from $2,800.00 to $3,200.00 and gave the company an outperform rating in a research report on Tuesday, March 26th. Eleven investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $3,057.68.

Chipotle Mexican Grill Stock Performance

Shares of NYSE:CMG traded up $44.54 on Thursday, reaching $3,156.51. The company’s stock had a trading volume of 23,849 shares, compared to its average volume of 238,875. Chipotle Mexican Grill has a 52-week low of $1,768.64 and a 52-week high of $3,175.00. The company has a market cap of $86.71 billion, a P/E ratio of 67.09, a PEG ratio of 2.48 and a beta of 1.28. The company has a 50-day simple moving average of $2,811.11 and a 200 day simple moving average of $2,416.65.

Chipotle Mexican Grill’s stock is scheduled 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 closing bell on Tuesday, June 25th.

Chipotle Mexican Grill (NYSE:CMG) last released its quarterly earnings results on Wednesday, April 24th. The restaurant operator reported $13.37 EPS for the quarter, topping analysts’ consensus estimates of $11.63 by $1.74. Chipotle Mexican Grill had a net margin of 12.70% and a return on equity of 45.46%. The firm had revenue of $2.70 billion during the quarter, compared to analysts’ expectations of $2.67 billion. On average, equities research analysts forecast that Chipotle Mexican Grill will post 53.49 EPS for the current fiscal year.

Insider Buying and Selling

In other Chipotle Mexican Grill news, insider Roger E. Theodoredis sold 898 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $2,622.25, for a total transaction of $2,354,780.50. Following the sale, the insider now 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 SEC, which can be accessed through the SEC website. In other news, CEO Brian R. Niccol sold 1,996 shares of the company’s 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 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 can be accessed through this hyperlink. Also, insider Roger E. Theodoredis sold 898 shares of the 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 sale, the insider now directly owns 1,529 shares in the company, valued at $4,009,420.25. The disclosure for this sale can be found here. Insiders sold a total of 6,793 shares of company stock worth $18,321,152 in the last 90 days. 0.96% of the stock is owned by corporate insiders.

Institutional Trading of Chipotle Mexican Grill

A number of hedge funds have recently added to or reduced their stakes in CMG. IFP Advisors Inc boosted its holdings in Chipotle Mexican Grill by 13.6% during the third quarter. IFP Advisors Inc now owns 134 shares of the restaurant operator’s stock worth $245,000 after buying an additional 16 shares in the last quarter. Flagship Harbor Advisors LLC acquired a new position in Chipotle Mexican Grill during the third quarter worth $203,000. DAVENPORT & Co LLC raised its position in Chipotle Mexican Grill by 9.4% during the third quarter. DAVENPORT & Co LLC now owns 291 shares of the restaurant operator’s stock worth $533,000 after acquiring an additional 25 shares during the period. Meridian Wealth Management LLC raised its position in Chipotle Mexican Grill by 291.2% during the third quarter. Meridian Wealth Management LLC now owns 442 shares of the restaurant operator’s stock worth $810,000 after acquiring an additional 329 shares during the period. Finally, Caprock Group LLC raised its position in Chipotle Mexican Grill by 4.0% during the third quarter. Caprock Group LLC now owns 208 shares of the restaurant operator’s stock worth $381,000 after acquiring an additional 8 shares during the period. 91.31% of the stock is owned by hedge funds and other institutional investors.

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.