Chipotle Mexican Grill (NYSE:CMG) Given New $1,750.00 Price Target at Truist Securities

Chipotle Mexican Grill (NYSE:CMG) had its target price boosted by investment analysts at Truist Securities from $1,700.00 to $1,750.00 in a research note issued to investors on Tuesday, Stock Target Advisor reports. The brokerage presently has a “buy” rating on the restaurant operator’s stock. Truist Securities’ target price would suggest a potential upside of 16.67% from the company’s current price.

A number of other research analysts have also issued reports on the company. The Goldman Sachs Group assumed coverage on Chipotle Mexican Grill in a research report on Tuesday, January 19th. They set a “buy” rating and a $1,650.00 price objective for the company. Morgan Stanley reaffirmed an “equal weight” rating on shares of Chipotle Mexican Grill in a research note on Wednesday, February 3rd. Argus lifted their target price on Chipotle Mexican Grill from $1,460.00 to $1,700.00 in a research note on Thursday, February 4th. Stephens boosted their price objective on Chipotle Mexican Grill from $1,265.00 to $1,450.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 3rd. Finally, Truist boosted their price objective on Chipotle Mexican Grill from $1,700.00 to $1,750.00 and gave the stock a “buy” rating in a research note on Tuesday. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and twenty have assigned a buy rating to the company. The company has an average rating of “Buy” and an average price target of $1,525.67.

Shares of CMG opened at $1,500.02 on Tuesday. The firm has a market cap of $42.22 billion, a price-to-earnings ratio of 179.43, a PEG ratio of 3.21 and a beta of 1.31. The stock has a 50 day moving average of $1,434.83 and a 200-day moving average of $1,371.74. Chipotle Mexican Grill has a 52 week low of $700.00 and a 52 week high of $1,564.91.

Chipotle Mexican Grill (NYSE:CMG) last released its quarterly earnings data on Monday, February 1st. The restaurant operator reported $3.48 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $3.73 by ($0.25). Chipotle Mexican Grill had a net margin of 4.08% and a return on equity of 16.70%. The company had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.60 billion. During the same quarter in the prior year, the firm earned $2.86 EPS. The company’s revenue for the quarter was up 11.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Chipotle Mexican Grill will post 10.96 EPS for the current year.

In related news, CEO Brian R. Niccol sold 4,757 shares of the business’s stock in a transaction dated Monday, March 8th. The stock was sold at an average price of $1,311.22, for a total transaction of $6,237,473.54. Following the completion of the transaction, the chief executive officer now owns 47,044 shares of the company’s stock, valued at approximately $61,685,033.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Scott Boatwright sold 5,822 shares of the business’s stock in a transaction dated Thursday, February 4th. The stock was sold at an average price of $1,497.75, for a total value of $8,719,900.50. Following the transaction, the insider now directly owns 9,551 shares of the company’s stock, valued at approximately $14,305,010.25. The disclosure for this sale can be found here. Insiders sold 17,572 shares of company stock valued at $25,493,143 in the last ninety days. Insiders own 1.00% of the company’s stock.

Institutional investors have recently bought and sold shares of the business. Taikang Asset Management Hong Kong Co Ltd raised its holdings in Chipotle Mexican Grill by 19.3% in the 4th quarter. Taikang Asset Management Hong Kong Co Ltd now owns 5,598 shares of the restaurant operator’s stock valued at $7,763,000 after acquiring an additional 905 shares in the last quarter. IBM Retirement Fund grew its stake in shares of Chipotle Mexican Grill by 14.3% in the 4th quarter. IBM Retirement Fund now owns 1,034 shares of the restaurant operator’s stock valued at $1,434,000 after purchasing an additional 129 shares during the period. Shellback Capital LP bought a new stake in shares of Chipotle Mexican Grill in the 3rd quarter valued at approximately $3,731,000. F M Investments LLC bought a new stake in shares of Chipotle Mexican Grill in the 4th quarter valued at approximately $2,131,000. Finally, Cubist Systematic Strategies LLC grew its stake in shares of Chipotle Mexican Grill by 257.2% in the 3rd quarter. Cubist Systematic Strategies LLC now owns 16,264 shares of the restaurant operator’s stock valued at $20,228,000 after purchasing an additional 11,711 shares during the period. 90.03% of the stock is owned by hedge funds and other institutional investors.

About Chipotle Mexican Grill

Chipotle Mexican Grill, Inc, together with its subsidiaries, owns and operates Chipotle Mexican Grill restaurants. As of December 31, 2020, it owned and operated 2,724 Chipotle restaurants in the United States, 40 international Chipotle restaurants, and 4 non-Chipotle restaurants. The company was founded in 1993 and is headquartered in Newport Beach, California.

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