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

Chipotle Mexican Grill (NYSE:CMG) had its price objective boosted by Wedbush from $2,850.00 to $3,200.00 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has a “neutral” rating on the restaurant operator’s stock. Wedbush’s price objective suggests a potential upside of 0.33% from the stock’s current price. 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 analysts also recently issued reports on CMG. BMO Capital Markets raised their price target on shares of Chipotle Mexican Grill from $2,100.00 to $2,400.00 and gave the company a “market perform” rating in a report on Wednesday, February 7th. Jefferies Financial Group raised their price objective 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. Oppenheimer raised their price objective on shares of Chipotle Mexican Grill from $2,225.00 to $2,525.00 and gave the stock an “outperform” rating in a report on Friday, January 5th. TD Cowen reissued a “buy” rating and issued a $2,900.00 price objective on shares of Chipotle Mexican Grill in a report on Wednesday, April 10th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of Chipotle Mexican Grill from $3,100.00 to $3,300.00 and gave the stock a “buy” rating in a report on Wednesday, March 20th. Ten investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $3,137.12.

Chipotle Mexican Grill Stock Performance

NYSE:CMG opened at $3,189.40 on Thursday. The firm has a market cap of $87.60 billion, a P/E ratio of 68.06, a P/E/G ratio of 2.48 and a beta of 1.28. Chipotle Mexican Grill has a fifty-two week low of $1,768.64 and a fifty-two week high of $3,199.99. The firm has a 50-day simple moving average of $2,822.95 and a two-hundred day simple moving average of $2,426.07.

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 minted shares will be payable to shareholders after the market closes on Tuesday, June 25th.

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

Insider Activity

In other news, insider Christopher W. Brandt sold 3,149 shares of Chipotle Mexican Grill 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 sale, the insider now owns 8,563 shares in the company, valued at $25,071,093.92. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Chipotle Mexican Grill news, Director Albert S. Baldocchi sold 750 shares of Chipotle Mexican Grill stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $2,608.51, for a total transaction of $1,956,382.50. Following the completion of the transaction, the director now directly owns 37,271 shares of the company’s stock, valued at $97,221,776.21. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Christopher W. Brandt sold 3,149 shares of Chipotle Mexican Grill 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 transaction, 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. Insiders have sold a total of 6,793 shares of company stock worth $18,321,152 over the last quarter. Insiders own 0.96% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Northwest Bancshares Inc. purchased a new position in Chipotle Mexican Grill during the first quarter worth $331,000. SlateStone Wealth LLC purchased a new position in Chipotle Mexican Grill during the first quarter worth $265,000. Mesirow Financial Investment Management Inc. purchased a new position in Chipotle Mexican Grill during the first quarter worth $230,000. Emerald Advisors LLC purchased a new position in Chipotle Mexican Grill during the first quarter worth $872,000. Finally, Meridian Wealth Management LLC boosted its stake in Chipotle Mexican Grill by 4.0% during the first quarter. Meridian Wealth Management LLC now owns 234 shares of the restaurant operator’s stock worth $680,000 after buying an additional 9 shares during the period. 91.31% of the stock is owned by hedge funds and other institutional investors.

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.