Chipotle Mexican Grill (NYSE:CMG) Price Target Cut to $61.00 by Analysts at Stephens

Chipotle Mexican Grill (NYSE:CMG) had its price target reduced by equities research analysts at Stephens from $64.00 to $61.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage presently has an “equal weight” rating on the restaurant operator’s stock. Stephens’ price target points to a potential upside of 17.78% from the company’s current price.

Several other brokerages also recently commented on CMG. Piper Sandler lowered their price objective on Chipotle Mexican Grill from $61.00 to $56.00 and set a “neutral” rating for the company in a research note on Thursday. Argus increased their price objective on Chipotle Mexican Grill from $73.36 to $77.76 and gave the stock a “buy” rating in a research note on Tuesday, June 18th. Truist Financial increased their price objective on Chipotle Mexican Grill from $68.80 to $70.40 and gave the stock a “buy” rating in a research note on Wednesday, May 29th. The Goldman Sachs Group began coverage on Chipotle Mexican Grill in a report on Thursday, June 13th. They set a “buy” rating and a $74.60 price target on the stock. Finally, StockNews.com lowered Chipotle Mexican Grill from a “buy” rating to a “hold” rating in a report on Thursday, July 4th. Ten analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $64.88.

Chipotle Mexican Grill Stock Performance

CMG stock opened at $51.79 on Thursday. The stock’s 50 day simple moving average is $125.89 and its 200 day simple moving average is $79.68. Chipotle Mexican Grill has a fifty-two week low of $35.37 and a fifty-two week high of $69.26. The company has a market cap of $71.13 billion, a P/E ratio of 55.26, a price-to-earnings-growth ratio of 2.10 and a beta of 1.24.

Chipotle Mexican Grill (NYSE:CMG) last issued its quarterly earnings data on Wednesday, July 24th. The restaurant operator reported $0.34 EPS for the quarter, topping the consensus estimate of $0.32 by $0.02. The firm had revenue of $2.97 billion during the quarter, compared to the consensus estimate of $2.94 billion. Chipotle Mexican Grill had a return on equity of 43.74% and a net margin of 12.70%. The company’s quarterly revenue was up 18.2% compared to the same quarter last year. During the same period in the prior year, the business posted $12.65 earnings per share. Equities analysts predict that Chipotle Mexican Grill will post 1.1 earnings per share for the current year.

Insider Buying and Selling

In related news, COO Scott Boatwright sold 55,000 shares of the company’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $63.80, for a total value of $3,509,176.00. Following the sale, the chief operating officer now owns 120,600 shares in the company, valued at approximately $7,694,665.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Chipotle Mexican Grill news, Director Albert S. Baldocchi sold 50,000 shares of the stock in a transaction on Friday, April 26th. The stock was sold at an average price of $63.32, for a total transaction of $3,166,010.00. Following the sale, the director now directly owns 1,362,500 shares in the company, valued at approximately $86,273,772.50. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Scott Boatwright sold 55,000 shares of the stock in a transaction on Friday, April 26th. The shares were sold at an average price of $63.80, for a total value of $3,509,176.00. Following the sale, the chief operating officer now owns 120,600 shares in the company, valued at $7,694,665.92. The disclosure for this sale can be found here. Insiders have sold 550,750 shares of company stock worth $35,023,769 in the last 90 days. Insiders own 1.02% of the company’s stock.

Institutional Trading of Chipotle Mexican Grill

Several institutional investors have recently added to or reduced their stakes in the business. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in shares of Chipotle Mexican Grill by 4,260.5% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,132,332 shares of the restaurant operator’s stock valued at $196,241,000 after buying an additional 3,060,498 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Chipotle Mexican Grill by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 2,732,471 shares of the restaurant operator’s stock valued at $7,942,665,000 after buying an additional 25,238 shares during the period. Raymond James & Associates lifted its holdings in shares of Chipotle Mexican Grill by 5,217.4% during the 2nd quarter. Raymond James & Associates now owns 1,528,604 shares of the restaurant operator’s stock valued at $95,767,000 after buying an additional 1,499,857 shares during the period. New York State Teachers Retirement System lifted its holdings in shares of Chipotle Mexican Grill by 4,649.4% during the 2nd quarter. New York State Teachers Retirement System now owns 1,322,150 shares of the restaurant operator’s stock valued at $82,833,000 after buying an additional 1,294,312 shares during the period. Finally, Nicholas Company Inc. lifted its holdings in shares of Chipotle Mexican Grill by 4,140.2% during the 2nd quarter. Nicholas Company Inc. now owns 1,255,310 shares of the restaurant operator’s stock valued at $78,645,000 after buying an additional 1,225,705 shares during the period. 91.31% of the stock is currently owned by hedge funds and other 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.