Piper Sandler Increases Chipotle Mexican Grill (NYSE:CMG) Price Target to $3,070.00

Chipotle Mexican Grill (NYSE:CMG) had its price objective upped by research analysts at Piper Sandler from $2,442.00 to $3,070.00 in a research note issued to investors on Thursday, Benzinga reports. The firm presently has a “neutral” rating on the restaurant operator’s stock. Piper Sandler’s price objective indicates a potential downside of 3.74% from the stock’s previous close.

CMG has been the topic of several other research reports. Stifel Nicolaus boosted their price objective on shares of Chipotle Mexican Grill from $2,700.00 to $3,270.00 and gave the stock a “buy” rating in a research note on Thursday, April 11th. Wedbush boosted their price objective on shares of Chipotle Mexican Grill from $2,850.00 to $3,200.00 and gave the stock a “neutral” rating in a research note on Thursday. Barclays upped their target price 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. Sanford C. Bernstein upped 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. Finally, KeyCorp upped their target price on shares of Chipotle Mexican Grill from $2,750.00 to $3,250.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 9th. Ten research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $3,137.12.

Chipotle Mexican Grill Trading Up 2.5 %

Shares of CMG opened at $3,189.40 on Thursday. The firm’s 50-day moving average price is $2,822.95 and its 200-day moving average price is $2,426.07. The firm has a market capitalization of $87.60 billion, a price-to-earnings ratio of 68.06, a PEG ratio of 2.48 and a beta of 1.28. Chipotle Mexican Grill has a 1-year low of $1,768.64 and a 1-year high of $3,199.99.

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

Chipotle Mexican Grill (NYSE:CMG) last posted its quarterly earnings data on Wednesday, April 24th. The restaurant operator reported $13.37 EPS for the quarter, topping the consensus estimate 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 business had revenue of $2.70 billion for the quarter, compared to analyst estimates of $2.67 billion. On average, research analysts forecast that Chipotle Mexican Grill will post 53.49 EPS for the current fiscal year.

Insider Buying and Selling at Chipotle Mexican Grill

In other news, CEO Brian R. Niccol sold 1,996 shares of the 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 completion of the sale, the chief executive officer now directly owns 22,447 shares of the company’s stock, valued at $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 shares were 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 directly owns 22,447 shares of the company’s stock, valued at $53,870,779.77. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, 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 of the company’s stock, valued at $25,071,093.92. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,793 shares of company stock valued at $18,321,152. Insiders own 0.96% of the company’s stock.

Hedge Funds Weigh In On Chipotle Mexican Grill

A number of hedge funds and other institutional investors have recently modified their holdings of CMG. Steph & Co. bought a new position in shares of Chipotle Mexican Grill during the first quarter worth $29,000. Fortitude Family Office LLC bought a new position in shares of Chipotle Mexican Grill during the fourth quarter worth $32,000. Turtle Creek Wealth Advisors LLC bought a new position in shares of Chipotle Mexican Grill during the fourth quarter worth $37,000. ICA Group Wealth Management LLC bought a new position in shares of Chipotle Mexican Grill during the fourth quarter worth $37,000. Finally, Annis Gardner Whiting Capital Advisors LLC bought a new position in shares of Chipotle Mexican Grill during the third quarter worth $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.