Chipotle Mexican Grill (NYSE:CMG) Price Target Raised to $3,358.00 at Citigroup

Chipotle Mexican Grill (NYSE:CMG - Free Report) had its price objective hoisted by Citigroup from $3,016.00 to $3,358.00 in a report published on Monday morning, Benzinga reports. They currently have a buy rating on the restaurant operator's stock.

A number of other research firms have also issued reports on CMG. TD Cowen boosted their target price on shares of Chipotle Mexican Grill from $2,650.00 to $2,900.00 and gave the company an outperform rating in a research note on Wednesday, February 7th. Sanford C. Bernstein boosted their price target on shares of Chipotle Mexican Grill from $2,800.00 to $3,200.00 and gave the stock an outperform rating in a research report on Tuesday, March 26th. Truist Financial boosted their price target on shares of Chipotle Mexican Grill from $2,700.00 to $2,920.00 and gave the stock a buy rating in a research report on Wednesday, February 7th. Raymond James boosted their price target on shares of Chipotle Mexican Grill from $2,450.00 to $2,550.00 and gave the stock an outperform rating in a research report on Thursday, January 25th. Finally, Wells Fargo & Company boosted their price target on shares of Chipotle Mexican Grill from $2,600.00 to $2,800.00 and gave the stock an overweight rating in a research report on Wednesday, February 7th. Nine analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $2,614.81.

Chipotle Mexican Grill Stock Performance

Shares of NYSE CMG traded up $31.58 during midday trading on Monday, hitting $2,937.00. The company's stock had a trading volume of 218,616 shares, compared to its average volume of 232,336. Chipotle Mexican Grill has a 1-year low of $1,664.71 and a 1-year high of $3,023.98. The firm's fifty day moving average price is $2,707.96 and its 200-day moving average price is $2,324.41. The firm has a market cap of $80.53 billion, a P/E ratio of 66.22, a P/E/G ratio of 2.49 and a beta of 1.28.

Chipotle Mexican Grill shares are going to split on the morning of Wednesday, June 26th. The 50-1 split was announced on Tuesday, March 19th. The newly issued shares will be distributed to shareholders after the market closes on Tuesday, June 25th.

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) last posted its quarterly earnings results on Tuesday, February 6th. The restaurant operator reported $10.36 EPS for the quarter, beating the consensus estimate of $9.73 by $0.63. Chipotle Mexican Grill had a net margin of 12.45% and a return on equity of 44.41%. The business had revenue of $2.52 billion during the quarter, compared to analyst estimates of $2.49 billion. During the same period in the previous year, the business posted $8.29 EPS. The company's quarterly revenue was up 15.4% on a year-over-year basis. As a group, research analysts predict that Chipotle Mexican Grill will post 53.12 earnings per share for the current fiscal year.

Insider Buying and Selling at Chipotle Mexican Grill

In related news, insider Christopher W. Brandt sold 3,149 shares of the stock in a transaction on Wednesday, March 20th. The stock was 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 $25,071,093.92. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, insider Christopher W. Brandt sold 3,149 shares of the stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $2,927.84, for a total value of $9,219,768.16. Following the transaction, the insider now owns 8,563 shares in the company, valued at $25,071,093.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Brian R. Niccol sold 1,996 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now owns 22,447 shares in the company, valued at approximately $53,870,779.77. The disclosure for this sale can be found here. Insiders have sold a total of 6,793 shares of company stock valued at $18,321,152 in the last 90 days. 0.96% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Chipotle Mexican Grill

Large investors have recently added to or reduced their stakes in the stock. Fortitude Family Office LLC bought a new stake in Chipotle Mexican Grill during the fourth quarter worth approximately $32,000. Coppell Advisory Solutions LLC bought a new stake in Chipotle Mexican Grill during the second quarter worth approximately $32,000. Turtle Creek Wealth Advisors LLC bought a new stake in Chipotle Mexican Grill during the fourth quarter worth approximately $37,000. ICA Group Wealth Management LLC bought a new stake in Chipotle Mexican Grill during the fourth quarter worth approximately $37,000. Finally, Cornerstone Planning Group LLC bought a new stake in Chipotle Mexican Grill during the second quarter worth approximately $39,000. 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.