Chipotle Mexican Grill (NYSE:CMG) Price Target Raised to $70.00

Chipotle Mexican Grill (NYSE:CMG) had its price target increased by Robert W. Baird from $62.00 to $70.00 in a report published on Wednesday, Benzinga reports. Robert W. Baird currently has an outperform rating on the restaurant operator’s stock.

Several other equities analysts have also recently issued reports on the stock. Truist Financial boosted their price target on shares of Chipotle Mexican Grill from $69.00 to $71.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. Citigroup upped their price objective on shares of Chipotle Mexican Grill from $69.00 to $71.00 and gave the stock a “buy” rating in a report on Wednesday, October 2nd. Raymond James dropped their target price on shares of Chipotle Mexican Grill from $70.00 to $62.50 and set an “outperform” rating on the stock in a research note on Thursday, July 25th. KeyCorp lowered their price objective on shares of Chipotle Mexican Grill from $68.00 to $66.00 and set an “overweight” rating on the stock in a research report on Thursday, July 25th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $67.00 price objective on shares of Chipotle Mexican Grill in a research report on Wednesday, August 14th. Ten investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $64.47.

Chipotle Mexican Grill Price Performance

CMG opened at $58.59 on Wednesday. The company has a fifty day moving average price of $57.28 and a 200-day moving average price of $81.14. The firm has a market capitalization of $80.24 billion, a P/E ratio of 54.53, a price-to-earnings-growth ratio of 2.41 and a beta of 1.25. Chipotle Mexican Grill has a one year low of $39.92 and a one year high of $69.26.

Chipotle Mexican Grill (NYSE:CMG) last posted its quarterly earnings data on Tuesday, October 29th. The restaurant operator reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.02. The company had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.82 billion. Chipotle Mexican Grill had a net margin of 13.51% and a return on equity of 43.20%. The firm’s revenue was up 13.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.23 EPS. On average, analysts expect that Chipotle Mexican Grill will post 1.1 earnings per share for the current year.

Insider Buying and Selling at Chipotle Mexican Grill

In related news, Director Robin S. Hickenlooper sold 1,790 shares of the firm’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $56.38, for a total transaction of $100,920.20. Following the transaction, the director now owns 41,510 shares of the company’s stock, valued at $2,340,333.80. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, insider Curtis E. Garner sold 15,750 shares of Chipotle Mexican Grill stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $55.02, for a total transaction of $866,565.00. Following the completion of the sale, the insider now directly owns 473,514 shares in the company, valued at approximately $26,052,740.28. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robin S. Hickenlooper sold 1,790 shares of Chipotle Mexican Grill stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $56.38, for a total transaction of $100,920.20. Following the sale, the director now owns 41,510 shares of the company’s stock, valued at approximately $2,340,333.80. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 50,684 shares of company stock worth $2,817,127 over the last ninety days. Corporate insiders own 1.02% of the company’s stock.

Institutional Investors Weigh In On Chipotle Mexican Grill

A number of hedge funds and other institutional investors have recently modified their holdings of CMG. Transcendent Capital Group LLC raised its holdings in Chipotle Mexican Grill by 950.0% in the 3rd quarter. Transcendent Capital Group LLC now owns 525 shares of the restaurant operator’s stock valued at $30,000 after acquiring an additional 475 shares during the last quarter. Covestor Ltd grew its stake in shares of Chipotle Mexican Grill by 6.5% during the 3rd quarter. Covestor Ltd now owns 4,167 shares of the restaurant operator’s stock valued at $240,000 after buying an additional 253 shares during the period. 17 Capital Partners LLC grew its stake in shares of Chipotle Mexican Grill by 2.8% during the 3rd quarter. 17 Capital Partners LLC now owns 14,242 shares of the restaurant operator’s stock valued at $821,000 after buying an additional 392 shares during the period. Sustainable Insight Capital Management LLC grew its stake in shares of Chipotle Mexican Grill by 39.7% during the 3rd quarter. Sustainable Insight Capital Management LLC now owns 88,300 shares of the restaurant operator’s stock valued at $5,088,000 after buying an additional 25,100 shares during the period. Finally, Carr Financial Group Corp boosted its position in Chipotle Mexican Grill by 12.8% during the 3rd quarter. Carr Financial Group Corp now owns 4,400 shares of the restaurant operator’s stock worth $254,000 after purchasing an additional 500 shares during the period. 91.31% of the stock is currently owned by institutional investors and hedge funds.

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.