Chipotle Mexican Grill (NYSE:CMG) Price Target Lowered to $72.00 at TD Cowen

Chipotle Mexican Grill (NYSE:CMG) had its price objective reduced by TD Cowen from $3,600.00 to $72.00 in a research note issued on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the restaurant operator’s stock. TD Cowen’s target price suggests a potential upside of 9.71% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the company. Deutsche Bank Aktiengesellschaft boosted their price objective on Chipotle Mexican Grill from $68.00 to $72.00 and gave the company a “buy” rating in a research note on Thursday, April 25th. Robert W. Baird reissued an “outperform” rating and set a $70.00 price objective on shares of Chipotle Mexican Grill in a report on Friday, June 21st. Jefferies Financial Group boosted their target price on Chipotle Mexican Grill from $47.00 to $54.00 and gave the stock a “hold” rating in a research report on Tuesday, April 16th. Raymond James reiterated an “outperform” rating and issued a $66.80 price objective (up previously from $66.00) on shares of Chipotle Mexican Grill in a research report on Thursday, April 25th. Finally, Piper Sandler upped their target price on Chipotle Mexican Grill from $48.84 to $61.40 and gave the company a “neutral” rating in a report on Thursday, April 25th. Ten investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $64.02.

Chipotle Mexican Grill Price Performance

Shares of NYSE CMG traded down $0.03 during mid-day trading on Wednesday, reaching $65.63. 19,942,498 shares of the company’s stock were exchanged, compared to its average volume of 13,121,373. The firm has a market capitalization of $1.80 billion, a price-to-earnings ratio of 1.40, a price-to-earnings-growth ratio of 2.61 and a beta of 1.25. Chipotle Mexican Grill has a 52 week low of $35.37 and a 52 week high of $69.26. The firm has a 50-day moving average price of $127.42 and a two-hundred day moving average price of $78.06.

Chipotle Mexican Grill (NYSE:CMG) last released its earnings results on Wednesday, April 24th. The restaurant operator reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.04. The company had revenue of $2.70 billion for the quarter, compared to analysts’ expectations of $2.67 billion. Chipotle Mexican Grill had a return on equity of 43.74% and a net margin of 12.70%. As a group, sell-side analysts forecast that Chipotle Mexican Grill will post 55.31 EPS for the current fiscal year.

Insider Buying and Selling at Chipotle Mexican Grill

In other Chipotle Mexican Grill news, COO Scott Boatwright sold 55,000 shares of the stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $63.80, for a total value of $3,509,176.00. Following the transaction, the chief operating officer now owns 120,600 shares of the company’s stock, valued at $7,694,665.92. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, COO Scott Boatwright sold 55,000 shares of the firm’s stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $63.80, for a total value of $3,509,176.00. Following the transaction, the chief operating officer now owns 120,600 shares of the company’s stock, valued at $7,694,665.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Roger E. Theodoredis sold 125,450 shares of the stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $63.29, for a total value of $7,939,579.96. Following the sale, the insider now owns 54,250 shares of the company’s stock, valued at approximately $3,433,417.40. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 550,750 shares of company stock valued at $35,023,769. 1.02% of the stock is owned by company insiders.

Hedge Funds Weigh In On Chipotle Mexican Grill

Several institutional investors have recently added to or reduced their stakes in the company. Railway Pension Investments Ltd purchased a new position in Chipotle Mexican Grill during the 1st quarter valued at approximately $1,163,000. Westwood Holdings Group Inc. boosted its holdings in shares of Chipotle Mexican Grill by 1.1% in the 1st quarter. Westwood Holdings Group Inc. now owns 13,490 shares of the restaurant operator’s stock worth $39,212,000 after purchasing an additional 149 shares during the period. DekaBank Deutsche Girozentrale boosted its holdings in shares of Chipotle Mexican Grill by 6.1% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 8,082 shares of the restaurant operator’s stock worth $23,864,000 after purchasing an additional 464 shares during the period. Alexander Labrunerie & CO. Inc. purchased a new position in shares of Chipotle Mexican Grill in the 1st quarter worth approximately $1,427,000. Finally, Cetera Advisors LLC boosted its holdings in shares of Chipotle Mexican Grill by 166.4% in the 1st quarter. Cetera Advisors LLC now owns 1,055 shares of the restaurant operator’s stock worth $3,067,000 after purchasing an additional 659 shares during the period. 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.