Wedbush Increases Chipotle Mexican Grill (NYSE:CMG) Price Target to $3,200.00

Chipotle Mexican Grill (NYSE:CMG) had its target price lifted by Wedbush from $2,850.00 to $3,200.00 in a research report sent to investors on Thursday morning, Benzinga reports. Wedbush currently has a neutral rating on the restaurant operator’s stock. Wedbush also issued estimates for Chipotle Mexican Grill’s Q2 2024 earnings at $15.39 EPS, Q2 2025 earnings at $18.59 EPS and FY2025 earnings at $68.56 EPS.

A number of other equities analysts have also commented on the stock. Jefferies Financial Group lifted their price target on shares of Chipotle Mexican Grill from $2,350.00 to $2,700.00 and gave the stock a hold rating in a report on Tuesday, April 16th. Morgan Stanley lifted their target price on shares of Chipotle Mexican Grill from $2,500.00 to $2,986.00 and gave the stock an equal weight rating in a research note on Friday, April 12th. UBS Group lifted their target price on shares of 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. Piper Sandler lifted their target price on shares of 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, Sanford C. Bernstein lifted their target price on shares of Chipotle Mexican Grill from $2,800.00 to $3,200.00 and gave the stock an outperform rating in a research note on Tuesday, March 26th. 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.com, Chipotle Mexican Grill has an average rating of Moderate Buy and an average price target of $3,057.68.

Chipotle Mexican Grill Stock Performance

Shares of NYSE:CMG opened at $3,116.02 on Thursday. The firm has a market cap of $85.60 billion, a PE ratio of 66.50, a price-to-earnings-growth ratio of 2.48 and a beta of 1.28. The firm’s fifty day moving average is $2,811.11 and its 200-day moving average is $2,416.65. Chipotle Mexican Grill has a 52 week low of $1,768.64 and a 52 week high of $3,145.69.

Chipotle Mexican Grill shares 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 closing bell on Tuesday, June 25th.

Chipotle Mexican Grill (NYSE:CMG) last issued 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. The company had revenue of $2.70 billion for the quarter, compared to analyst estimates of $2.67 billion. Chipotle Mexican Grill had a net margin of 12.70% and a return on equity of 45.46%. Sell-side analysts forecast that Chipotle Mexican Grill will post 53.49 EPS for the current year.

Insider Buying and Selling

In other Chipotle Mexican Grill news, insider Christopher W. Brandt sold 3,149 shares of the business’s stock in a transaction dated 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 transaction, the insider now directly owns 8,563 shares in the company, valued at $25,071,093.92. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, CEO Brian R. Niccol sold 1,996 shares of the business’s 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 sale, the chief executive officer now owns 22,447 shares of the company’s stock, valued at $53,870,779.77. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Christopher W. Brandt sold 3,149 shares of the business’s 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 completion of the sale, the insider now directly owns 8,563 shares in the company, valued at approximately $25,071,093.92. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 6,793 shares of company stock worth $18,321,152. 0.96% of the stock is owned by insiders.

Institutional Trading of Chipotle Mexican Grill

Hedge funds and other institutional investors have recently modified their holdings of the business. Steph & Co. bought a new stake in Chipotle Mexican Grill during the 1st quarter worth approximately $29,000. Fortitude Family Office LLC bought a new stake in Chipotle Mexican Grill during the 4th quarter worth approximately $32,000. Turtle Creek Wealth Advisors LLC bought a new stake in Chipotle Mexican Grill during the 4th quarter worth approximately $37,000. ICA Group Wealth Management LLC bought a new stake in Chipotle Mexican Grill during the 4th quarter worth approximately $37,000. Finally, Annis Gardner Whiting Capital Advisors LLC bought a new stake in Chipotle Mexican Grill during the 3rd quarter worth approximately $38,000. Institutional investors own 91.31% of the company’s stock.

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.