Chipotle Mexican Grill (NYSE:CMG) Price Target Cut to $69.00 by Analysts at Citigroup

Chipotle Mexican Grill (NYSE:CMG) had its target price decreased by Citigroup from $70.00 to $69.00 in a research note issued to investors on Monday morning,Benzinga reports. Citigroup currently has a buy rating on the restaurant operator’s stock.

A number of other research analysts have also recently issued reports on the company. Piper Sandler lifted their target price on Chipotle Mexican Grill from $59.00 to $60.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. TD Cowen lifted their price target on shares of Chipotle Mexican Grill from $65.00 to $68.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. BMO Capital Markets increased their price objective on shares of Chipotle Mexican Grill from $55.00 to $56.00 and gave the company a “market perform” rating in a research note on Wednesday, October 30th. Loop Capital boosted their target price on shares of Chipotle Mexican Grill from $53.00 to $58.00 and gave the stock a “hold” rating in a research note on Wednesday, October 30th. Finally, Jefferies Financial Group upped their price target on shares of Chipotle Mexican Grill from $56.00 to $62.00 and gave the stock a “hold” rating in a report on Monday, December 16th. Ten analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $66.77.

Chipotle Mexican Grill Trading Up 2.8 %

NYSE CMG opened at $58.30 on Monday. The firm’s 50 day simple moving average is $60.64 and its 200 day simple moving average is $57.72. The firm has a market capitalization of $79.43 billion, a price-to-earnings ratio of 54.26, a P/E/G ratio of 1.88 and a beta of 1.27. Chipotle Mexican Grill has a 1 year low of $46.29 and a 1 year high of $69.26.

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

Insider Transactions at Chipotle Mexican Grill

In other news, insider Laurie Schalow sold 4,404 shares of the firm’s stock in a transaction that occurred on Tuesday, December 10th. The shares were 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 of the company’s stock, valued at $12,078,337.92. This trade represents a 2.32 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 1.02% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Geode Capital Management LLC increased its stake in Chipotle Mexican Grill by 1.6% in the third quarter. Geode Capital Management LLC now owns 28,080,978 shares of the restaurant operator’s stock valued at $1,612,682,000 after purchasing an additional 438,007 shares in the last quarter. Franklin Resources Inc. grew its stake in shares of Chipotle Mexican Grill by 2.9% in the 3rd quarter. Franklin Resources Inc. now owns 13,661,937 shares of the restaurant operator’s stock valued at $805,692,000 after buying an additional 381,873 shares during the period. Janus Henderson Group PLC increased its position in Chipotle Mexican Grill by 5.6% in the 3rd quarter. Janus Henderson Group PLC now owns 9,830,644 shares of the restaurant operator’s stock valued at $566,439,000 after buying an additional 518,521 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Chipotle Mexican Grill by 11.6% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,271,318 shares of the restaurant operator’s stock worth $476,593,000 after buying an additional 858,704 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Chipotle Mexican Grill by 1.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 8,200,369 shares of the restaurant operator’s stock worth $472,505,000 after acquiring an additional 132,756 shares in the last quarter. 91.31% of the stock is owned by 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.