Chipotle Mexican Grill (NYSE:CMG) Price Target Lowered to $70.00 at Citigroup

Chipotle Mexican Grill (NYSE:CMG) had its price target lowered by equities researchers at Citigroup from $71.00 to $70.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the restaurant operator’s stock. Citigroup’s price target suggests a potential upside of 25.31% from the company’s current price.

Other analysts have also recently issued reports about the company. Oppenheimer reiterated an “outperform” rating and issued a $65.00 price target on shares of Chipotle Mexican Grill in a research report on Monday, September 30th. Raymond James decreased their price target on shares of Chipotle Mexican Grill from $70.00 to $62.50 and set an “outperform” rating for the company in a report on Thursday, July 25th. Truist Financial boosted their price objective on Chipotle Mexican Grill from $71.00 to $72.00 and gave the company a “buy” rating in a research report on Wednesday. Robert W. Baird lifted their target price on Chipotle Mexican Grill from $62.00 to $70.00 and gave the company an “outperform” rating in a research report on Wednesday. Finally, Evercore ISI raised their target price on shares of Chipotle Mexican Grill from $59.00 to $70.00 and gave the company an “outperform” rating in a research note on Tuesday, October 15th. Ten investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $64.07.

Chipotle Mexican Grill Stock Performance

Shares of NYSE CMG traded down $4.63 during mid-day trading on Wednesday, reaching $55.86. The company had a trading volume of 21,238,212 shares, compared to its average volume of 13,962,844. The stock has a fifty day moving average of $57.10 and a two-hundred day moving average of $81.50. The company has a market capitalization of $76.50 billion, a price-to-earnings ratio of 54.85, a PEG ratio of 2.41 and a beta of 1.25. Chipotle Mexican Grill has a 12-month low of $38.01 and a 12-month high of $69.26.

Chipotle Mexican Grill (NYSE:CMG) last posted its quarterly earnings data on Tuesday, October 29th. The restaurant operator reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.02. Chipotle Mexican Grill had a net margin of 13.23% and a return on equity of 44.01%. The company had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.82 billion. During the same quarter in the previous year, the firm posted $0.23 EPS. The business’s revenue was up 13.0% compared to the same quarter last year. Sell-side analysts forecast that Chipotle Mexican Grill will post 1.08 earnings per share for the current fiscal year.

Insider Buying and Selling at Chipotle Mexican Grill

In other Chipotle Mexican Grill news, insider Curtis E. Garner sold 15,750 shares of the company’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 completion of the sale, the insider now owns 457,764 shares in the company, valued at $26,115,436.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, insider Curtis E. Garner sold 17,394 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $54.68, for a total transaction of $951,103.92. Following the transaction, the insider now directly owns 358,300 shares of the company’s stock, valued at approximately $19,591,844. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Curtis E. Garner sold 15,750 shares of the company’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $57.05, for a total value of $898,537.50. Following the sale, the insider now owns 457,764 shares of the company’s stock, valued at $26,115,436.20. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 50,684 shares of company stock valued at $2,817,127. 1.02% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Shellback Capital LP raised its position in shares of Chipotle Mexican Grill by 4,900.0% in the 2nd quarter. Shellback Capital LP now owns 125,000 shares of the restaurant operator’s stock valued at $7,831,000 after purchasing an additional 122,500 shares during the last quarter. Swedbank AB acquired a new stake in shares of Chipotle Mexican Grill during the 1st quarter valued at about $53,979,000. Transform Wealth LLC increased its position in shares of Chipotle Mexican Grill by 4,760.7% in the second quarter. Transform Wealth LLC now owns 9,527 shares of the restaurant operator’s stock valued at $597,000 after buying an additional 9,331 shares in the last quarter. Pathway Financial Advisers LLC grew its position in shares of Chipotle Mexican Grill by 5,662.0% in the third quarter. Pathway Financial Advisers LLC now owns 8,643 shares of the restaurant operator’s stock valued at $498,000 after purchasing an additional 8,493 shares during the period. Finally, First Hawaiian Bank boosted its holdings in Chipotle Mexican Grill by 4,731.0% in the 2nd quarter. First Hawaiian Bank now owns 17,150 shares of the restaurant operator’s stock worth $1,074,000 after buying an additional 16,795 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.