Truist Financial Trims Chipotle Mexican Grill (NYSE:CMG) Target Price to $69.00

Chipotle Mexican Grill (NYSE:CMG) had its price objective lowered by Truist Financial from $74.00 to $69.00 in a report released on Thursday, Benzinga reports. The firm currently has a “buy” rating on the restaurant operator’s stock. Truist Financial’s price objective would suggest a potential upside of 37.75% from the company’s current price.

Several other equities research analysts also recently weighed in on the stock. Stephens decreased their target price on shares of Chipotle Mexican Grill from $64.00 to $61.00 and set an “equal weight” rating for the company in a research note on Thursday. Morgan Stanley increased their target price on shares of Chipotle Mexican Grill from $59.72 to $62.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 25th. Wedbush decreased their target price on shares of Chipotle Mexican Grill from $64.00 to $54.00 and set a “neutral” rating for the company in a research note on Thursday. Piper Sandler decreased their target price on shares of Chipotle Mexican Grill from $61.00 to $56.00 and set a “neutral” rating for the company in a research note on Thursday. Finally, Wells Fargo & Company increased their price target on shares of Chipotle Mexican Grill from $65.70 to $66.00 and gave the stock an “overweight” rating in a report on Thursday, April 25th. Ten research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat, Chipotle Mexican Grill has an average rating of “Moderate Buy” and a consensus target price of $64.53.

Chipotle Mexican Grill Price Performance

NYSE CMG traded down $1.69 during midday trading on Thursday, hitting $50.09. 17,403,002 shares of the company traded hands, compared to its average volume of 14,061,021. The company has a market cap of $68.79 billion, a PE ratio of 54.33, a price-to-earnings-growth ratio of 2.10 and a beta of 1.24. Chipotle Mexican Grill has a 52 week low of $35.37 and a 52 week high of $69.26. The company’s 50-day simple moving average is $125.89 and its 200-day simple moving average is $79.68.

Chipotle Mexican Grill (NYSE:CMG) last announced its earnings results on Wednesday, July 24th. The restaurant operator reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.02. Chipotle Mexican Grill had a return on equity of 43.74% and a net margin of 12.70%. The company had revenue of $2.97 billion for the quarter, compared to analyst estimates of $2.94 billion. During the same quarter in the previous year, the company earned $12.65 earnings per share. The firm’s quarterly revenue was up 18.2% compared to the same quarter last year. On average, research analysts predict that Chipotle Mexican Grill will post 1.1 earnings per share for the current year.

Insiders Place Their Bets

In other news, COO Scott Boatwright sold 55,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief operating officer now directly owns 120,600 shares in the company, valued at $7,694,665.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, COO Scott Boatwright sold 55,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief operating officer now directly owns 120,600 shares in the company, valued at $7,694,665.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Roger E. Theodoredis sold 125,450 shares of the stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $63.29, for a total transaction of $7,939,579.96. Following the completion of the transaction, the insider now owns 54,250 shares of the company’s stock, valued at $3,433,417.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 550,750 shares of company stock worth $35,023,769. Insiders own 1.02% of the company’s stock.

Institutional Trading of Chipotle Mexican Grill

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in Chipotle Mexican Grill by 4,260.5% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,132,332 shares of the restaurant operator’s stock valued at $196,241,000 after purchasing an additional 3,060,498 shares during the last quarter. Vanguard Group Inc. grew its stake in Chipotle Mexican Grill by 0.9% in 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 last quarter. Raymond James & Associates grew its stake in Chipotle Mexican Grill by 5,217.4% in 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 last quarter. New York State Teachers Retirement System grew its stake in Chipotle Mexican Grill by 4,649.4% in 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 last quarter. Finally, Nicholas Company Inc. grew its stake in Chipotle Mexican Grill by 4,140.2% in 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 last quarter. 91.31% of the stock is 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.