Chipotle Mexican Grill (NYSE:CMG – Get Rating) had its price objective raised by equities research analysts at Royal Bank of Canada from $1,875.00 to $2,050.00 in a note issued to investors on Wednesday, The Fly reports. The brokerage currently has an “outperform” rating on the restaurant operator’s stock. Royal Bank of Canada’s target price indicates a potential upside of 0.67% from the company’s current price.
A number of other research firms have also recently commented on CMG. Citigroup boosted their price target on Chipotle Mexican Grill from $2,140.00 to $2,240.00 and gave the stock a “buy” rating in a report on Wednesday. Truist Financial boosted their price target on Chipotle Mexican Grill from $1,800.00 to $1,960.00 and gave the stock a “buy” rating in a report on Monday, April 17th. Stifel Nicolaus boosted their price objective on Chipotle Mexican Grill from $1,750.00 to $2,000.00 and gave the stock a “buy” rating in a research report on Friday, April 21st. StockNews.com upgraded Chipotle Mexican Grill from a “hold” rating to a “buy” rating in a research report on Tuesday, March 28th. Finally, Barclays boosted their price objective on Chipotle Mexican Grill from $1,550.00 to $1,885.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Six research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the stock. According to MarketBeat.com, Chipotle Mexican Grill has an average rating of “Moderate Buy” and a consensus price target of $2,021.37.
Chipotle Mexican Grill Price Performance
Shares of NYSE CMG opened at $2,036.26 on Wednesday. The stock has a market capitalization of $56.22 billion, a PE ratio of 62.33, a P/E/G ratio of 1.63 and a beta of 1.32. The business has a fifty day moving average price of $1,643.24 and a two-hundred day moving average price of $1,559.78. Chipotle Mexican Grill has a fifty-two week low of $1,196.28 and a fifty-two week high of $2,047.31.
Insider Activity at Chipotle Mexican Grill
In related news, CEO Brian R. Niccol sold 2,193 shares of the company’s stock in a transaction dated Thursday, February 9th. The stock was sold at an average price of $1,633.11, for a total transaction of $3,581,410.23. Following the sale, the chief executive officer now owns 23,347 shares in the company, valued at approximately $38,128,219.17. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CEO Brian R. Niccol sold 2,193 shares of the company’s stock in a transaction dated Thursday, February 9th. The stock was sold at an average price of $1,633.11, for a total transaction of $3,581,410.23. Following the sale, the chief executive officer now owns 23,347 shares in the company, valued at approximately $38,128,219.17. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Brian R. Niccol sold 5,636 shares of the company’s stock in a transaction that occurred on Thursday, February 16th. The stock was sold at an average price of $1,646.82, for a total value of $9,281,477.52. Following the transaction, the chief executive officer now directly owns 23,347 shares in the company, valued at $38,448,306.54. The disclosure for this sale can be found here. Insiders have sold a total of 10,856 shares of company stock worth $17,938,741 in the last 90 days. Corporate insiders own 1.01% of the company’s stock.
Institutional Inflows and Outflows
A number of institutional investors have recently added to or reduced their stakes in the company. Benjamin Edwards Inc. raised its stake in Chipotle Mexican Grill by 90.0% during the 1st quarter. Benjamin Edwards Inc. now owns 19 shares of the restaurant operator’s stock worth $32,000 after buying an additional 9 shares during the period. Simplicity Solutions LLC raised its stake in Chipotle Mexican Grill by 55.3% during the 1st quarter. Simplicity Solutions LLC now owns 733 shares of the restaurant operator’s stock worth $1,252,000 after buying an additional 261 shares during the period. Bensler LLC raised its stake in shares of Chipotle Mexican Grill by 2.3% in the first quarter. Bensler LLC now owns 1,143 shares of the restaurant operator’s stock worth $1,953,000 after purchasing an additional 26 shares during the last quarter. Ballentine Partners LLC purchased a new stake in shares of Chipotle Mexican Grill in the first quarter worth approximately $266,000. Finally, Alpha Cubed Investments LLC raised its stake in shares of Chipotle Mexican Grill by 1.9% in the first quarter. Alpha Cubed Investments LLC now owns 3,773 shares of the restaurant operator’s stock worth $6,445,000 after purchasing an additional 69 shares during the last quarter. 93.26% of the stock is owned by institutional investors and hedge funds.
Chipotle Mexican Grill Company Profile
Chipotle Mexican Grill, Inc engages in the development and operation of classically-cooked, real food with wholesome ingredients without artificial colors, flavors or preservatives. It offers a focused menu of burritos, tacos, burrito bowls, and salads prepared using classic cooking methods. The company was founded by Steve Ells in 1993 and is headquartered in Newport Beach, CA.
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