Chipotle Mexican Grill (NYSE:CMG) Receives “Outperform” Rating from Wedbush

Wedbush reiterated their outperform rating on shares of Chipotle Mexican Grill (NYSE:CMG) in a research report released on Wednesday morning, Benzinga reports. They currently have a $69.00 price objective on the restaurant operator’s stock.

CMG has been the subject of several other reports. Citigroup lowered their price target on shares of Chipotle Mexican Grill from $71.00 to $70.00 and set a “buy” rating for the company in a report on Wednesday. TD Cowen upped their price target on shares of Chipotle Mexican Grill from $65.00 to $68.00 and gave the stock a “buy” rating in a report on Wednesday. Barclays upped their price target on shares of Chipotle Mexican Grill from $55.00 to $60.00 and gave the stock an “equal weight” rating in a report on Wednesday. Stephens lowered their price target on shares of Chipotle Mexican Grill from $66.00 to $65.00 and set an “equal weight” rating for the company in a report on Wednesday. Finally, Truist Financial boosted their price objective on shares of Chipotle Mexican Grill from $71.00 to $72.00 and gave the stock a “buy” rating in a research note on Wednesday. Ten research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $64.47.

Chipotle Mexican Grill Price Performance

Shares of CMG opened at $55.76 on Wednesday. Chipotle Mexican Grill has a one year low of $38.01 and a one year high of $69.26. The company has a market cap of $76.36 billion, a P/E ratio of 54.67, a P/E/G ratio of 2.41 and a beta of 1.25. The firm has a 50 day simple moving average of $57.14 and a two-hundred day simple moving average of $81.32.

Chipotle Mexican Grill (NYSE:CMG) last announced its quarterly earnings data on Tuesday, October 29th. The restaurant operator reported $0.27 EPS for the quarter, beating the consensus estimate of $0.25 by $0.02. The business 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 13.23% and a return on equity of 44.01%. The company’s revenue was up 13.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.23 earnings per share. On average, analysts expect that Chipotle Mexican Grill will post 1.08 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Robin S. Hickenlooper sold 1,790 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were 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 in the company, valued at approximately $2,340,333.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Curtis E. Garner sold 15,750 shares of the company’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $55.02, for a total transaction of $866,565.00. Following the transaction, the insider now owns 473,514 shares in the company, valued at approximately $26,052,740.28. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robin S. Hickenlooper sold 1,790 shares of the company’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 completion of the sale, the director now owns 41,510 shares in the company, valued at $2,340,333.80. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 50,684 shares of company stock worth $2,817,127. Company insiders own 1.02% of the company’s stock.

Institutional Investors Weigh In On Chipotle Mexican Grill

A number of institutional investors and hedge funds have recently made changes to their positions in CMG. American Century Companies Inc. raised its holdings in shares of Chipotle Mexican Grill by 4,732.3% in the 2nd quarter. American Century Companies Inc. now owns 20,177,309 shares of the restaurant operator’s stock worth $1,264,109,000 after acquiring an additional 19,759,754 shares during the last quarter. Legal & General Group Plc raised its holdings in shares of Chipotle Mexican Grill by 5,209.5% in the 2nd quarter. Legal & General Group Plc now owns 10,935,669 shares of the restaurant operator’s stock worth $685,128,000 after acquiring an additional 10,729,706 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of Chipotle Mexican Grill by 5,930.8% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 10,310,132 shares of the restaurant operator’s stock worth $645,930,000 after acquiring an additional 10,139,174 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Chipotle Mexican Grill by 4,816.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 8,356,173 shares of the restaurant operator’s stock worth $523,514,000 after acquiring an additional 8,186,198 shares during the last quarter. Finally, Marshall Wace LLP raised its holdings in shares of Chipotle Mexican Grill by 76,617.6% in the 2nd quarter. Marshall Wace LLP now owns 5,904,952 shares of the restaurant operator’s stock worth $369,945,000 after acquiring an additional 5,897,255 shares during the last quarter. Institutional investors and hedge funds own 91.31% of the company’s stock.

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.