Raymond James Cuts Chipotle Mexican Grill (NYSE:CMG) Price Target to $69.00

Chipotle Mexican Grill (NYSE:CMG) had its price objective reduced by investment analysts at Raymond James from $72.00 to $69.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an “outperform” rating on the restaurant operator’s stock. Raymond James’ target price indicates a potential upside of 18.28% from the company’s previous close.

CMG has been the topic of a number of other reports. BMO Capital Markets lifted 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 report on Wednesday, October 30th. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $70.00 price objective on shares of Chipotle Mexican Grill in a research report on Tuesday. Truist Financial lifted their target price on Chipotle Mexican Grill from $72.00 to $74.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Wells Fargo & Company lifted their target price on Chipotle Mexican Grill from $67.00 to $75.00 and gave the stock an “overweight” rating in a report on Thursday, December 12th. Finally, TD Cowen boosted their price target on Chipotle Mexican Grill from $65.00 to $68.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Ten research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat, Chipotle Mexican Grill currently has an average rating of “Moderate Buy” and an average target price of $66.88.

Chipotle Mexican Grill Stock Up 0.9 %

Shares of NYSE:CMG opened at $58.34 on Tuesday. Chipotle Mexican Grill has a 12 month low of $47.88 and a 12 month high of $69.26. The company’s 50-day moving average price is $60.61 and its two-hundred day moving average price is $57.72. The firm has a market cap of $79.49 billion, a P/E ratio of 54.30, a P/E/G ratio of 1.88 and a beta of 1.27.

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

Insider Buying and Selling

In other Chipotle Mexican Grill news, insider Laurie Schalow sold 4,404 shares of Chipotle Mexican Grill 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 directly owns 185,792 shares of the company’s stock, valued at $12,078,337.92. The trade was a 2.32 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.02% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Chipotle Mexican Grill

Institutional investors and hedge funds have recently bought and sold shares of the company. Assenagon Asset Management S.A. grew its stake in Chipotle Mexican Grill by 1,087.9% during the 3rd quarter. Assenagon Asset Management S.A. now owns 4,712,724 shares of the restaurant operator’s stock worth $271,547,000 after buying an additional 4,315,983 shares during the last quarter. Congress Asset Management Co. purchased a new position in Chipotle Mexican Grill during the 3rd quarter worth $109,396,000. Thrivent Financial for Lutherans grew its stake in Chipotle Mexican Grill by 674.3% during the 3rd quarter. Thrivent Financial for Lutherans now owns 2,122,778 shares of the restaurant operator’s stock valued at $122,314,000 after purchasing an additional 1,848,625 shares during the last quarter. Raymond James & Associates grew its stake in Chipotle Mexican Grill by 94.3% during the 3rd quarter. Raymond James & Associates now owns 2,969,776 shares of the restaurant operator’s stock valued at $171,118,000 after purchasing an additional 1,441,172 shares during the last quarter. Finally, International Assets Investment Management LLC grew its stake in Chipotle Mexican Grill by 5,188.9% during the 3rd quarter. International Assets Investment Management LLC now owns 1,421,140 shares of the restaurant operator’s stock valued at $818,860,000 after purchasing an additional 1,394,270 shares during 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.