Truist Financial Increases Chipotle Mexican Grill (NYSE:CMG) Price Target to $71.00

Chipotle Mexican Grill (NYSE:CMG) had its target price upped by Truist Financial from $69.00 to $71.00 in a report released on Tuesday, Benzinga reports. The firm currently has a buy rating on the restaurant operator’s stock.

A number of other research firms have also weighed in on CMG. Barclays dropped their price target on shares of Chipotle Mexican Grill from $58.00 to $55.00 and set an equal weight rating for the company in a research report on Thursday, July 25th. Evercore ISI increased their price target on Chipotle Mexican Grill from $59.00 to $70.00 and gave the stock an outperform rating in a research note on Tuesday. StockNews.com downgraded Chipotle Mexican Grill from a buy rating to a hold rating in a research report on Thursday, July 4th. Deutsche Bank Aktiengesellschaft reiterated a buy rating and set a $67.00 target price on shares of Chipotle Mexican Grill in a research report on Wednesday, August 14th. Finally, BMO Capital Markets lowered their price target on Chipotle Mexican Grill from $57.00 to $55.00 and set a market perform rating on the stock in a report on Thursday, July 25th. Ten investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus price target of $63.03.

Chipotle Mexican Grill Stock Performance

NYSE CMG opened at $59.81 on Tuesday. The business’s fifty day moving average is $55.85 and its 200 day moving average is $81.42. Chipotle Mexican Grill has a fifty-two week low of $35.58 and a fifty-two week high of $69.26. The company has a market capitalization of $82.14 billion, a PE ratio of 63.63, a price-to-earnings-growth ratio of 2.41 and a beta of 1.25.

Chipotle Mexican Grill (NYSE:CMG) last posted its quarterly earnings data on Wednesday, July 24th. The restaurant operator reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.02. The firm had revenue of $2.97 billion for the quarter, compared to analysts’ expectations of $2.94 billion. Chipotle Mexican Grill had a return on equity of 44.01% and a net margin of 13.23%. The business’s quarterly revenue was up 18.2% on a year-over-year basis. During the same period in the previous year, the firm earned $12.65 EPS. On average, sell-side analysts forecast that Chipotle Mexican Grill will post 1.08 EPS for the current year.

Insiders Place Their Bets

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

Institutional Trading of Chipotle Mexican Grill

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. American Century Companies Inc. grew its stake in shares of Chipotle Mexican Grill by 4,732.3% during the second quarter. American Century Companies Inc. now owns 20,177,309 shares of the restaurant operator’s stock valued at $1,264,109,000 after buying an additional 19,759,754 shares during the last quarter. Legal & General Group Plc grew its position in 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 valued at $685,128,000 after acquiring an additional 10,729,706 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in Chipotle Mexican Grill by 5,930.8% in the second quarter. Massachusetts Financial Services Co. MA now owns 10,310,132 shares of the restaurant operator’s stock worth $645,930,000 after purchasing an additional 10,139,174 shares during the period. Bank of New York Mellon Corp lifted its position in shares of Chipotle Mexican Grill by 4,816.1% during the second quarter. Bank of New York Mellon Corp now owns 8,356,173 shares of the restaurant operator’s stock worth $523,514,000 after purchasing an additional 8,186,198 shares during the last quarter. Finally, Marshall Wace LLP boosted its stake in shares of Chipotle Mexican Grill by 76,617.6% during the second quarter. Marshall Wace LLP now owns 5,904,952 shares of the restaurant operator’s stock valued at $369,945,000 after purchasing an additional 5,897,255 shares during the period. 91.31% of the stock is 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.