Wedbush Issues Pessimistic Forecast for Chipotle Mexican Grill (NYSE:CMG) Stock Price

Chipotle Mexican Grill (NYSE:CMG) had its price target lowered by Wedbush from $69.00 to $64.00 in a research note published on Wednesday morning,Benzinga reports. The firm currently has an outperform rating on the restaurant operator’s stock.

CMG has been the topic of a number of other research reports. Wells Fargo & Company boosted their price target on shares of Chipotle Mexican Grill from $67.00 to $75.00 and gave the company an “overweight” rating in a report on Thursday, December 12th. Piper Sandler increased their target price on Chipotle Mexican Grill from $59.00 to $60.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Cfra raised Chipotle Mexican Grill from a “buy” rating to a “strong-buy” rating and raised their target price for the stock from $59.00 to $73.00 in a research report on Wednesday. Royal Bank of Canada reissued an “outperform” rating and set a $75.00 price target on shares of Chipotle Mexican Grill in a research report on Tuesday, January 28th. Finally, Loop Capital raised their price objective on Chipotle Mexican Grill from $53.00 to $58.00 and gave the stock a “hold” rating in a research report on Wednesday, October 30th. Ten investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $66.31.

Chipotle Mexican Grill Stock Down 2.5 %

Shares of Chipotle Mexican Grill stock opened at $57.54 on Wednesday. Chipotle Mexican Grill has a 12-month low of $47.98 and a 12-month high of $69.26. The firm has a market capitalization of $78.41 billion, a PE ratio of 53.56, a price-to-earnings-growth ratio of 2.07 and a beta of 1.27. The stock’s fifty day moving average is $60.36 and its 200-day moving average is $57.84.

Chipotle Mexican Grill (NYSE:CMG) last issued its quarterly earnings results on Tuesday, February 4th. The restaurant operator reported $0.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.01. Chipotle Mexican Grill had a return on equity of 43.20% and a net margin of 13.51%. Analysts expect that Chipotle Mexican Grill will post 1.11 EPS for the current year.

Insider Buying and Selling

In other Chipotle Mexican Grill news, insider Laurie Schalow sold 4,404 shares of the stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $65.01, for a total transaction of $286,304.04. Following the transaction, the insider now owns 185,792 shares in the company, valued at $12,078,337.92. This trade represents a 2.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 1.02% of the company’s stock.

Institutional Trading of Chipotle Mexican Grill

Large investors have recently modified their holdings of the company. Alphinity Investment Management Pty Ltd bought a new position in Chipotle Mexican Grill in the 4th quarter worth $692,701,000. Assenagon Asset Management S.A. grew its position in shares of Chipotle Mexican Grill by 1,087.9% in the third quarter. Assenagon Asset Management S.A. now owns 4,712,724 shares of the restaurant operator’s stock valued at $271,547,000 after purchasing an additional 4,315,983 shares during the last quarter. Congress Asset Management Co. bought a new position in shares of Chipotle Mexican Grill in the third quarter worth about $109,396,000. Thrivent Financial for Lutherans lifted its position in shares of Chipotle Mexican Grill by 674.3% during the 3rd quarter. Thrivent Financial for Lutherans now owns 2,122,778 shares of the restaurant operator’s stock worth $122,314,000 after purchasing an additional 1,848,625 shares during the last quarter. Finally, Raymond James & Associates boosted its stake in Chipotle Mexican Grill by 94.3% during the 3rd quarter. Raymond James & Associates now owns 2,969,776 shares of the restaurant operator’s stock valued at $171,118,000 after purchasing an additional 1,441,172 shares during the period. 91.31% of the stock is owned by institutional investors.

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.