Chipotle Mexican Grill (NYSE:CMG) Given New $75.00 Price Target at Royal Bank of Canada

Chipotle Mexican Grill (NYSE:CMG) had its target price raised by Royal Bank of Canada from $70.00 to $75.00 in a research report sent to investors on Tuesday,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the restaurant operator’s stock.

Other analysts have also recently issued reports about the company. BMO Capital Markets boosted their price objective on Chipotle Mexican Grill from $55.00 to $56.00 and gave the company a “market perform” rating in a research report on Wednesday, October 30th. Wedbush reaffirmed an “outperform” rating and issued a $69.00 price target on shares of Chipotle Mexican Grill in a research note on Wednesday, October 30th. Citigroup reduced their price objective on Chipotle Mexican Grill from $71.00 to $70.00 and set a “buy” rating for the company in a research note on Wednesday, October 30th. Jefferies Financial Group upped their target price on shares of Chipotle Mexican Grill from $56.00 to $62.00 and gave the stock a “hold” rating in a report on Monday. Finally, Truist Financial raised their price target on shares of Chipotle Mexican Grill from $72.00 to $74.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Ten research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat.com, Chipotle Mexican Grill presently has an average rating of “Moderate Buy” and a consensus target price of $66.55.

Chipotle Mexican Grill Stock Performance

Shares of CMG opened at $64.27 on Tuesday. The company has a market capitalization of $87.57 billion, a P/E ratio of 60.07, a P/E/G ratio of 2.64 and a beta of 1.27. The business’s 50-day moving average is $60.49 and its two-hundred day moving average is $81.22. Chipotle Mexican Grill has a fifty-two week low of $44.08 and a fifty-two week high of $69.26.

Chipotle Mexican Grill (NYSE:CMG) last released its quarterly earnings results on Tuesday, October 29th. The restaurant operator reported $0.27 EPS for the quarter, beating the consensus estimate of $0.25 by $0.02. Chipotle Mexican Grill had a net margin of 13.51% and a return on equity of 43.20%. The company had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.82 billion. During the same quarter last year, the business earned $0.23 earnings per share. The firm’s revenue was up 13.0% on a year-over-year basis. Analysts forecast that Chipotle Mexican Grill will post 1.11 EPS for the current year.

Insider Activity at Chipotle Mexican Grill

In other Chipotle Mexican Grill news, insider Laurie Schalow sold 4,404 shares of the stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $65.01, for a total value of $286,304.04. Following the sale, the insider now owns 185,792 shares of the company’s stock, valued at $12,078,337.92. This trade represents a 2.32 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Curtis E. Garner sold 15,750 shares of the business’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $57.05, for a total value of $898,537.50. Following the transaction, the insider now directly owns 457,764 shares of the company’s stock, valued at approximately $26,115,436.20. This represents a 3.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.02% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in CMG. RiverPark Advisors LLC lifted its position in shares of Chipotle Mexican Grill by 4,900.0% during the 2nd quarter. RiverPark Advisors LLC now owns 400 shares of the restaurant operator’s stock worth $25,000 after purchasing an additional 392 shares during the last quarter. Archer Investment Corp purchased a new stake in shares of Chipotle Mexican Grill during the 2nd quarter worth approximately $25,000. Oliver Lagore Vanvalin Investment Group boosted its stake in Chipotle Mexican Grill by 4,900.0% in the second quarter. Oliver Lagore Vanvalin Investment Group now owns 400 shares of the restaurant operator’s stock valued at $25,000 after acquiring an additional 392 shares in the last quarter. Chilton Capital Management LLC acquired a new stake in shares of Chipotle Mexican Grill in the second quarter valued at approximately $27,000. Finally, MCF Advisors LLC grew its position in shares of Chipotle Mexican Grill by 5,525.0% during the second quarter. MCF Advisors LLC now owns 450 shares of the restaurant operator’s stock worth $28,000 after acquiring an additional 442 shares during the last quarter. Hedge funds and other institutional investors own 91.31% of the company’s stock.

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.