Chipotle Mexican Grill (NYSE:CMG) Price Target Raised to $72.00

Chipotle Mexican Grill (NYSE:CMG) had its price objective boosted by investment analysts at Truist Financial from $71.00 to $72.00 in a research report issued on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the restaurant operator’s stock. Truist Financial’s target price indicates a potential upside of 27.77% from the stock’s previous close.

CMG has been the subject of several other reports. Piper Sandler increased their price objective on Chipotle Mexican Grill from $56.00 to $59.00 and gave the company a “neutral” rating in a report on Friday, October 11th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $67.00 price target on shares of Chipotle Mexican Grill in a research note on Wednesday, August 14th. Citigroup lifted their price objective on shares of Chipotle Mexican Grill from $69.00 to $71.00 and gave the company a “buy” rating in a research note on Wednesday, October 2nd. The Goldman Sachs Group decreased their target price on shares of Chipotle Mexican Grill from $74.60 to $67.00 and set a “buy” rating for the company in a research note on Thursday, July 25th. Finally, Evercore ISI boosted their price target on Chipotle Mexican Grill from $59.00 to $70.00 and gave the company an “outperform” rating in a research report on Tuesday, October 15th. Ten analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $63.62.

Chipotle Mexican Grill Trading Down 6.8 %

Shares of NYSE CMG traded down $4.14 during mid-day trading on Wednesday, reaching $56.35. The company had a trading volume of 11,897,145 shares, compared to its average volume of 13,922,522. The firm has a 50 day simple moving average of $57.10 and a two-hundred day simple moving average of $81.50. Chipotle Mexican Grill has a 52-week low of $38.01 and a 52-week high of $69.26. The stock has a market cap of $77.17 billion, a P/E ratio of 55.48, a PEG ratio of 2.41 and a beta of 1.25.

Chipotle Mexican Grill (NYSE:CMG) last issued its quarterly earnings data on Tuesday, October 29th. The restaurant operator reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.02. Chipotle Mexican Grill had a return on equity of 44.01% and a net margin of 13.23%. The company had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.82 billion. The business’s quarterly revenue was up 13.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.23 earnings per share. On average, equities analysts expect that Chipotle Mexican Grill will post 1.08 EPS for the current year.

Insider Buying and Selling

In related news, Director Robin S. Hickenlooper sold 1,790 shares of Chipotle Mexican Grill 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 completion of the transaction, the director now directly owns 41,510 shares of the company’s stock, valued at approximately $2,340,333.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other Chipotle Mexican Grill news, Director Robin S. Hickenlooper sold 1,790 shares of the firm’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 completion of the transaction, the director now directly owns 41,510 shares in the company, valued at approximately $2,340,333.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Curtis E. Garner sold 17,394 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $54.68, for a total transaction of $951,103.92. Following the completion of the sale, the insider now directly owns 358,300 shares in the company, valued at $19,591,844. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 50,684 shares of company stock worth $2,817,127 in the last quarter. Company insiders own 1.02% of the company’s stock.

Hedge Funds Weigh In On Chipotle Mexican Grill

Hedge funds have recently bought and sold shares of the stock. Moloney Securities Asset Management LLC lifted its holdings in Chipotle Mexican Grill by 11.8% in the 3rd quarter. Moloney Securities Asset Management LLC now owns 9,618 shares of the restaurant operator’s stock valued at $554,000 after purchasing an additional 1,018 shares in the last quarter. Impax Asset Management Group plc purchased a new position in shares of Chipotle Mexican Grill during the third quarter valued at approximately $17,155,000. PDS Planning Inc boosted its position in Chipotle Mexican Grill by 26.2% during the third quarter. PDS Planning Inc now owns 5,994 shares of the restaurant operator’s stock worth $345,000 after acquiring an additional 1,244 shares during the last quarter. Leeward Financial Partners LLC grew its stake in Chipotle Mexican Grill by 38.2% in the 3rd quarter. Leeward Financial Partners LLC now owns 7,669 shares of the restaurant operator’s stock worth $442,000 after acquiring an additional 2,119 shares during the period. Finally, QRG Capital Management Inc. lifted its stake in shares of Chipotle Mexican Grill by 190.6% during the 3rd quarter. QRG Capital Management Inc. now owns 51,393 shares of the restaurant operator’s stock worth $2,961,000 after purchasing an additional 33,705 shares during the period. Hedge funds and other institutional investors own 91.31% of the company’s stock.

About Chipotle Mexican Grill

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.