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Goldman analysts initates a Buy rating for Chipotle Mexican Grill (CMG)

In a filing, Chipotle Mexican Grill revealed its Chief Financial & Admn Officer Hartung Jack unloaded Company’s shares for reported $8.0 million on Jun 13 ’24. In the deal valued at $3249.01 per share,2,461 shares were sold. As a result of this transaction, Hartung Jack now holds 67,166 shares worth roughly $4.21 million.

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Then, Niccol Brian R sold 6,406 shares, generating $20,408,980 in total proceeds. Upon selling the shares at $3185.92, the Chairman, CEO now owns 22,669 shares.

Before that, Theodoredis Roger E sold 2,509 shares. Chipotle Mexican Grill shares valued at $7,939,568 were divested by the Chief Legal Officer & GC at a price of $3164.44 per share. As a result of the transaction, Theodoredis Roger E now holds 1,085 shares, worth roughly $68083.75.

Goldman initiated its Chipotle Mexican Grill [CMG] rating to a Buy in a research note published on June 13, 2024; the price target was $3730. A number of analysts have revised their coverage, including Truist’s analysts, who remained covering the stock and in late May has reiterated a ‘”a Buy”‘ rating for it. Oppenheimer also remained covering CMG and reiterated its “an Outperform” recommendation on May 22, 2024. Oppenheimer maintained its rating on April 25, 2024. It rated CMG as “an Outperform”.

Price Performance Review of CMG

On Friday, Chipotle Mexican Grill [NYSE:CMG] saw its stock jump 1.90% to $62.75. Over the last five days, the stock has gained 0.54%. Chipotle Mexican Grill shares have risen nearly 37.19% since the year began. Nevertheless, the stocks have risen 47.95% over the past one year. While a 52-week high of $69.26 was reached on 06/18/24, a 52-week low of $35.37 was recorded on 01/08/24. SMA at 50 days reached $63.40, while 200 days put it at $51.19. A total of 11.87 million shares were traded, compared to the trading of 12.65 million shares in the previous session.

Levels Of Support And Resistance For CMG Stock

The 24-hour chart illustrates a support level at 61.65, which if violated will result in even more drops to 60.55. On the upside, there is a resistance level at 63.40. A further resistance level may holdings at 64.06. The Relative Strength Index (RSI) on the 14-day chart is 47.72, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -2.22, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 72.26%. Stochastics%K at 19.09% indicates the stock is a buying.

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