Morgan Stanley Increases Chipotle Mexican Grill (NYSE:CMG) Price Target to $3,100.00

Chipotle Mexican Grill (NYSE:CMG) had its price objective upped by research analysts at Morgan Stanley from $2,986.00 to $3,100.00 in a report issued on Thursday, Benzinga reports. The brokerage presently has an “equal weight” rating on the restaurant operator’s stock. Morgan Stanley’s price objective would suggest a potential downside of 2.80% from the stock’s previous close.

Several other analysts have also weighed in on the company. Piper Sandler boosted their price objective on Chipotle Mexican Grill from $2,442.00 to $3,070.00 and gave the company a “neutral” rating in a report on Thursday. Robert W. Baird boosted their price target on Chipotle Mexican Grill from $3,250.00 to $3,500.00 and gave the company an “outperform” rating in a report on Thursday. Stephens upped their price target on Chipotle Mexican Grill from $3,010.00 to $3,050.00 and gave the company an “equal weight” rating in a research report on Thursday. UBS Group lifted their price objective on shares of Chipotle Mexican Grill from $3,400.00 to $3,500.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Evercore ISI increased their target price on shares of Chipotle Mexican Grill from $3,200.00 to $3,600.00 and gave the stock an “outperform” rating in a report on Thursday. Ten research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $3,137.12.

Chipotle Mexican Grill Stock Up 2.5 %

Shares of CMG opened at $3,189.40 on Thursday. The firm has a market cap of $87.61 billion, a price-to-earnings ratio of 68.06, a PEG ratio of 2.60 and a beta of 1.28. The business’s 50 day moving average is $2,822.95 and its two-hundred day moving average is $2,426.07. Chipotle Mexican Grill has a 52-week low of $1,768.64 and a 52-week high of $3,199.99.

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

Chipotle Mexican Grill (NYSE:CMG) last announced its quarterly earnings data 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. The company had revenue of $2.70 billion during 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 43.74%. On average, equities analysts expect that Chipotle Mexican Grill will post 54.07 earnings per share for the current fiscal year.

Insider Transactions at Chipotle Mexican Grill

In related news, insider Christopher W. Brandt sold 3,149 shares of Chipotle Mexican Grill stock in a transaction dated 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 in the company, valued at $25,071,093.92. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Chipotle Mexican Grill news, insider Christopher W. Brandt sold 3,149 shares of the firm’s stock in a transaction dated 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 transaction, the insider now owns 8,563 shares of the company’s stock, valued at approximately $25,071,093.92. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Albert S. Baldocchi sold 750 shares of the business’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $2,608.51, for a total transaction of $1,956,382.50. Following the sale, the director now owns 37,271 shares in the company, valued at $97,221,776.21. The disclosure for this sale can be found here. Over the last quarter, insiders sold 6,793 shares of company stock valued at $18,321,152. 0.96% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Chipotle Mexican Grill

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Northern Trust Corp raised its stake in shares of Chipotle Mexican Grill by 5.0% in the 3rd quarter. Northern Trust Corp now owns 283,203 shares of the restaurant operator’s stock worth $518,780,000 after buying an additional 13,513 shares in the last quarter. Covestor Ltd raised its position in Chipotle Mexican Grill by 9.2% in the third quarter. Covestor Ltd now owns 95 shares of the restaurant operator’s stock worth $174,000 after acquiring an additional 8 shares in the last quarter. NewEdge Wealth LLC acquired a new stake in Chipotle Mexican Grill in the 3rd quarter valued at about $205,000. Laidlaw Wealth Management LLC lifted its holdings in Chipotle Mexican Grill by 69.8% in the 3rd quarter. Laidlaw Wealth Management LLC now owns 270 shares of the restaurant operator’s stock valued at $495,000 after acquiring an additional 111 shares during the last quarter. Finally, Clearstead Advisors LLC boosted its position in shares of Chipotle Mexican Grill by 0.7% during the 3rd 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 in the last quarter. 91.31% of the stock is owned by 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.