JPMorgan Chase & Co. Lowers Chipotle Mexican Grill (NYSE:CMG) Price Target to $58.00

Chipotle Mexican Grill (NYSE:CMG) had its price target reduced by equities researchers at JPMorgan Chase & Co. from $64.00 to $58.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the restaurant operator’s stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 19.55% from the company’s current price.

Other equities analysts have also recently issued research reports about the stock. Truist Financial boosted their price objective on shares of Chipotle Mexican Grill from $72.00 to $74.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Wedbush reduced their price target on shares of Chipotle Mexican Grill from $69.00 to $64.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 5th. Piper Sandler reduced their price target on shares of Chipotle Mexican Grill from $60.00 to $59.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 5th. Sanford C. Bernstein reiterated an “outperform” rating and set a $70.00 price target on shares of Chipotle Mexican Grill in a research report on Tuesday, January 28th. Finally, Citigroup boosted their price target on shares of Chipotle Mexican Grill from $69.00 to $70.00 and gave the company a “buy” rating in a research report on Wednesday, February 5th. Eight analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $66.67.

Chipotle Mexican Grill Trading Down 1.0 %

CMG stock opened at $48.52 on Thursday. The firm’s 50-day moving average price is $54.53 and its two-hundred day moving average price is $57.66. Chipotle Mexican Grill has a 12-month low of $47.55 and a 12-month high of $69.26. The stock has a market capitalization of $65.76 billion, a price-to-earnings ratio of 43.70, a PEG ratio of 2.04 and a beta of 1.27.

Chipotle Mexican Grill (NYSE:CMG) last released its quarterly earnings data on Tuesday, February 4th. The restaurant operator reported $0.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.01. Chipotle Mexican Grill had a net margin of 13.56% and a return on equity of 42.92%. Equities analysts predict that Chipotle Mexican Grill will post 1.29 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in CMG. Norges Bank bought a new position in Chipotle Mexican Grill during the fourth quarter valued at approximately $1,093,345,000. Alphinity Investment Management Pty Ltd bought a new position in Chipotle Mexican Grill during the fourth quarter valued at approximately $692,701,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its position in Chipotle Mexican Grill by 4,138,574.1% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 8,318,735 shares of the restaurant operator’s stock valued at $501,620,000 after purchasing an additional 8,318,534 shares during the period. Alliancebernstein L.P. lifted its position in Chipotle Mexican Grill by 29.5% during the fourth quarter. Alliancebernstein L.P. now owns 30,100,520 shares of the restaurant operator’s stock valued at $1,815,061,000 after purchasing an additional 6,853,470 shares during the period. Finally, Raymond James Financial Inc. bought a new position in Chipotle Mexican Grill during the fourth quarter valued at approximately $315,220,000. 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.