Argus Increases Chipotle Mexican Grill (NYSE:CMG) Price Target to $3,888.00

Chipotle Mexican Grill (NYSE:CMGGet Free Report) had its target price lifted by stock analysts at Argus from $3,668.00 to $3,888.00 in a report released on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the restaurant operator’s stock. Argus’ target price would suggest a potential upside of 14.96% from the stock’s previous close.

A number of other analysts have also recently commented on CMG. Citigroup lifted their price target on Chipotle Mexican Grill from $3,358.00 to $3,369.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. Morgan Stanley lifted their price target on Chipotle Mexican Grill from $2,986.00 to $3,100.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 25th. Stifel Nicolaus lifted their price target on Chipotle Mexican Grill from $2,700.00 to $3,270.00 and gave the stock a “buy” rating in a research report on Thursday, April 11th. Piper Sandler lifted their price target on Chipotle Mexican Grill from $2,442.00 to $3,070.00 and gave the company a “neutral” rating in a research note on Thursday, April 25th. Finally, Raymond James restated an “outperform” rating and set a $3,340.00 target price (up from $3,300.00) on shares of Chipotle Mexican Grill in a report on Thursday, April 25th. Ten analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $3,201.19.

View Our Latest Stock Analysis on CMG

Chipotle Mexican Grill Stock Performance

CMG traded up $16.67 during trading on Tuesday, hitting $3,382.13. 76,009 shares of the stock were exchanged, compared to its average volume of 245,000. The firm has a 50 day simple moving average of $3,111.16 and a 200 day simple moving average of $2,724.52. The firm has a market cap of $92.91 billion, a price-to-earnings ratio of 72.35, a P/E/G ratio of 2.60 and a beta of 1.25. Chipotle Mexican Grill has a 1 year low of $1,768.64 and a 1 year high of $3,435.00.

Shares of Chipotle Mexican Grill are set 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 market closes on Tuesday, June 25th.

Chipotle Mexican Grill (NYSE:CMGGet Free Report) last posted its quarterly earnings data on Wednesday, April 24th. The restaurant operator reported $13.37 earnings per share for the quarter, topping analysts’ consensus estimates of $11.63 by $1.74. The firm had revenue of $2.70 billion during the quarter, compared to analysts’ expectations of $2.67 billion. Chipotle Mexican Grill had a return on equity of 43.74% and a net margin of 12.70%. As a group, equities analysts anticipate that Chipotle Mexican Grill will post 55.31 earnings per share for the current fiscal year.

Insider Activity at Chipotle Mexican Grill

In other Chipotle Mexican Grill news, Director Albert S. Baldocchi sold 1,000 shares of the stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $3,166.01, for a total value of $3,166,010.00. Following the completion of the sale, the director now owns 27,250 shares in the company, valued at approximately $86,273,772.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Chipotle Mexican Grill news, insider Christopher W. Brandt sold 3,149 shares of the 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 value of $9,219,768.16. Following the completion of the sale, the insider now owns 8,563 shares in the company, valued at approximately $25,071,093.92. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Albert S. Baldocchi sold 1,000 shares of the stock in a transaction on Friday, April 26th. The stock was sold at an average price of $3,166.01, for a total transaction of $3,166,010.00. Following the transaction, the director now owns 27,250 shares in the company, valued at approximately $86,273,772.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 14,164 shares of company stock worth $44,243,538. 1.02% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Vanguard Group Inc. increased its stake in shares of Chipotle Mexican Grill by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 2,732,471 shares of the restaurant operator’s stock worth $7,942,665,000 after purchasing an additional 25,238 shares during the last quarter. Capital World Investors grew its stake in Chipotle Mexican Grill by 0.8% in the 4th quarter. Capital World Investors now owns 1,125,974 shares of the restaurant operator’s stock valued at $2,575,057,000 after buying an additional 8,541 shares during the last quarter. American Century Companies Inc. grew its stake in Chipotle Mexican Grill by 3.5% in the 3rd quarter. American Century Companies Inc. now owns 399,902 shares of the restaurant operator’s stock valued at $732,552,000 after buying an additional 13,482 shares during the last quarter. Wellington Management Group LLP grew its stake in Chipotle Mexican Grill by 41.6% in the 3rd quarter. Wellington Management Group LLP now owns 397,182 shares of the restaurant operator’s stock valued at $727,570,000 after buying an additional 116,723 shares during the last quarter. Finally, Norges Bank acquired a new position in Chipotle Mexican Grill in the 4th quarter valued at $805,529,000. Institutional investors and hedge funds own 91.31% of the company’s stock.

About Chipotle Mexican Grill

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Chipotle Mexican Grill (NYSE:CMG)

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