Chipotle Mexican Grill’s (CMG) Outperform Rating Reiterated at Wedbush

Wedbush reissued their outperform rating on shares of Chipotle Mexican Grill (NYSE:CMG) in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a $69.00 price target on the restaurant operator’s stock.

Several other research analysts have also recently issued reports on CMG. Stephens reissued an “equal weight” rating and issued a $65.00 price target on shares of Chipotle Mexican Grill in a research note on Tuesday, November 12th. Jefferies Financial Group upped their target price on Chipotle Mexican Grill from $56.00 to $62.00 and gave the company a “hold” rating in a report on Monday, December 16th. Royal Bank of Canada increased their price objective on Chipotle Mexican Grill from $70.00 to $75.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 17th. Truist Financial increased their price objective on Chipotle Mexican Grill from $72.00 to $74.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Finally, Piper Sandler upped their target price on Chipotle Mexican Grill from $59.00 to $60.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Ten analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Chipotle Mexican Grill presently has a consensus rating of “Moderate Buy” and a consensus target price of $66.81.

Chipotle Mexican Grill Trading Down 1.6 %

CMG stock opened at $56.61 on Wednesday. The firm has a market cap of $77.14 billion, a P/E ratio of 52.69, a P/E/G ratio of 1.88 and a beta of 1.27. Chipotle Mexican Grill has a 12-month low of $46.15 and a 12-month high of $69.26. The stock’s 50 day simple moving average is $60.68 and its 200 day simple moving average is $57.74.

Chipotle Mexican Grill (NYSE:CMG) last issued its quarterly earnings data on Tuesday, October 29th. The restaurant operator reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.02. The firm had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.82 billion. Chipotle Mexican Grill had a return on equity of 43.20% and a net margin of 13.51%. The firm’s revenue was up 13.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.23 EPS. On average, research analysts forecast that Chipotle Mexican Grill will post 1.11 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Laurie Schalow sold 4,404 shares of the business’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $65.01, for a total transaction of $286,304.04. Following the completion of the sale, the insider now owns 185,792 shares in the company, valued at $12,078,337.92. The trade was a 2.32 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 1.02% of the company’s stock.

Institutional Investors Weigh In On Chipotle Mexican Grill

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Oliver Lagore Vanvalin Investment Group increased its holdings in shares of 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 worth $25,000 after acquiring an additional 392 shares in the last quarter. ZRC Wealth Management LLC lifted its position in shares of Chipotle Mexican Grill by 384.0% in the third quarter. ZRC Wealth Management LLC now owns 484 shares of the restaurant operator’s stock valued at $28,000 after buying an additional 384 shares during the last quarter. Transcendent Capital Group LLC lifted its position in shares of Chipotle Mexican Grill by 950.0% in the third quarter. Transcendent Capital Group LLC now owns 525 shares of the restaurant operator’s stock valued at $30,000 after buying an additional 475 shares during the last quarter. Mowery & Schoenfeld Wealth Management LLC bought a new position in shares of Chipotle Mexican Grill during the third quarter worth approximately $32,000. Finally, Capital Performance Advisors LLP bought a new position in shares of Chipotle Mexican Grill during the third quarter worth approximately $33,000. 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.