Wedbush Trims Chipotle Mexican Grill (NYSE:CMG) Target Price to $54.00

Chipotle Mexican Grill (NYSE:CMG) had its target price lowered by Wedbush from $64.00 to $54.00 in a research report sent to investors on Thursday morning, Benzinga reports. Wedbush currently has a neutral rating on the restaurant operator’s stock. Wedbush also issued estimates for Chipotle Mexican Grill’s Q4 2024 earnings at $0.23 EPS, FY2024 earnings at $1.08 EPS, Q1 2025 earnings at $0.28 EPS and FY2025 earnings at $1.24 EPS.

Other equities analysts also recently issued research reports about the company. BMO Capital Markets raised their target price on Chipotle Mexican Grill from $48.00 to $57.00 and gave the company a market perform rating in a research report on Thursday, April 25th. KeyCorp lowered their target price on shares of Chipotle Mexican Grill from $3,400.00 to $68.00 and set an overweight rating on the stock in a research note on Tuesday, July 9th. JPMorgan Chase & Co. upped their target price on shares of Chipotle Mexican Grill from $55.00 to $60.00 and gave the stock a neutral rating in a report on Monday, June 3rd. BTIG Research raised their price target on shares of Chipotle Mexican Grill from $65.00 to $67.00 and gave the stock a buy rating in a research note on Thursday, April 25th. Finally, Wells Fargo & Company raised their price target on shares of Chipotle Mexican Grill from $65.70 to $66.00 and gave the stock an overweight rating in a research note on Thursday, April 25th. Eleven equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat, Chipotle Mexican Grill currently has an average rating of Moderate Buy and a consensus target price of $62.88.

Chipotle Mexican Grill Stock Performance

NYSE:CMG opened at $49.83 on Thursday. The stock has a market capitalization of $68.43 billion, a PE ratio of 53.17, a P/E/G ratio of 2.00 and a beta of 1.24. Chipotle Mexican Grill has a fifty-two week low of $35.37 and a fifty-two week high of $69.26. The company has a fifty day moving average of $125.36 and a two-hundred day moving average of $80.01.

Chipotle Mexican Grill (NYSE:CMG) last released its quarterly earnings results on Wednesday, July 24th. The restaurant operator reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.02. The firm had revenue of $2.97 billion during the quarter, compared to the consensus estimate of $2.94 billion. Chipotle Mexican Grill had a net margin of 13.23% and a return on equity of 44.01%. The company’s revenue for the quarter was up 18.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $12.65 EPS. Research analysts forecast that Chipotle Mexican Grill will post 1.09 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp raised its stake in shares of Chipotle Mexican Grill by 4,816.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 8,356,173 shares of the restaurant operator’s stock valued at $523,514,000 after acquiring an additional 8,186,198 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in Chipotle Mexican Grill by 4,260.5% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,132,332 shares of the restaurant operator’s stock valued at $196,241,000 after purchasing an additional 3,060,498 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of Chipotle Mexican Grill by 3,988.6% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 2,996,492 shares of the restaurant operator’s stock valued at $187,730,000 after buying an additional 2,923,203 shares during the period. Raymond James & Associates lifted its stake in Chipotle Mexican Grill by 5,217.4% during the 2nd quarter. Raymond James & Associates now owns 1,528,604 shares of the restaurant operator’s stock worth $95,767,000 after acquiring an additional 1,499,857 shares in the last quarter. Finally, Calamos Advisors LLC boosted its holdings in Chipotle Mexican Grill by 6,114.1% during the 2nd quarter. Calamos Advisors LLC now owns 1,327,021 shares of the restaurant operator’s stock valued at $83,138,000 after acquiring an additional 1,305,666 shares during the period. Institutional investors and hedge funds 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.