Chipotle Mexican Grill (NYSE:CMG) Price Target Raised to $71.00 at Citigroup

Chipotle Mexican Grill (NYSE:CMG) had its target price boosted by Citigroup from $69.00 to $71.00 in a research report released on Wednesday morning, Benzinga reports. Citigroup currently has a buy rating on the restaurant operator’s stock.

A number of other research analysts also recently issued reports on CMG. KeyCorp cut their target price on shares of Chipotle Mexican Grill from $68.00 to $66.00 and set an overweight rating on the stock in a research report on Thursday, July 25th. BMO Capital Markets reduced their price target on Chipotle Mexican Grill from $57.00 to $55.00 and set a market perform rating on the stock in a research report on Thursday, July 25th. Stifel Nicolaus reiterated a buy rating and issued a $70.00 price objective on shares of Chipotle Mexican Grill in a report on Wednesday, August 14th. Truist Financial restated a buy rating and set a $69.00 target price on shares of Chipotle Mexican Grill in a report on Tuesday, August 13th. Finally, Raymond James lowered their price target on Chipotle Mexican Grill from $70.00 to $62.50 and set an outperform rating for the company in a research note on Thursday, July 25th. Ten investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus price target of $62.44.

Chipotle Mexican Grill Price Performance

CMG opened at $57.11 on Wednesday. The stock has a market capitalization of $78.43 billion, a P/E ratio of 60.76, a price-to-earnings-growth ratio of 2.43 and a beta of 1.25. The company’s 50 day simple moving average is $55.08 and its 200-day simple moving average is $81.25. Chipotle Mexican Grill has a one year low of $35.37 and a one year high of $69.26.

Chipotle Mexican Grill (NYSE:CMG) last released its earnings results on Wednesday, July 24th. The restaurant operator reported $0.34 EPS for the quarter, beating the consensus estimate of $0.32 by $0.02. The company had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $2.94 billion. Chipotle Mexican Grill had a return on equity of 44.01% and a net margin of 13.23%. During the same period last year, the firm earned $12.65 EPS. The business’s revenue for the quarter was up 18.2% on a year-over-year basis. As a group, analysts anticipate that Chipotle Mexican Grill will post 1.08 EPS for the current year.

Insider Buying and Selling at Chipotle Mexican Grill

In other news, insider Curtis E. Garner sold 17,394 shares of the stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $54.68, for a total transaction of $951,103.92. Following the completion of the transaction, the insider now directly owns 358,300 shares in the company, valued at $19,591,844. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, insider Curtis E. Garner sold 15,750 shares of the business’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $55.02, for a total transaction of $866,565.00. Following the transaction, the insider now directly owns 473,514 shares in the company, valued at approximately $26,052,740.28. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Curtis E. Garner sold 17,394 shares of the stock in a transaction 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 completion of the sale, the insider now owns 358,300 shares of the company’s stock, valued at approximately $19,591,844. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 34,934 shares of company stock worth $1,918,589. Insiders own 1.02% of the company’s stock.

Institutional Investors Weigh In On Chipotle Mexican Grill

A number of institutional investors and hedge funds have recently modified their holdings of the company. American Century Companies Inc. increased its position in Chipotle Mexican Grill by 4,732.3% during the second quarter. American Century Companies Inc. now owns 20,177,309 shares of the restaurant operator’s stock worth $1,264,109,000 after buying an additional 19,759,754 shares during the last quarter. Legal & General Group Plc increased its holdings in shares of Chipotle Mexican Grill by 5,209.5% during the 2nd quarter. Legal & General Group Plc now owns 10,935,669 shares of the restaurant operator’s stock worth $685,128,000 after acquiring an additional 10,729,706 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in Chipotle Mexican Grill by 5,930.8% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 10,310,132 shares of the restaurant operator’s stock valued at $645,930,000 after acquiring an additional 10,139,174 shares during the period. Bank of New York Mellon Corp lifted its holdings in Chipotle Mexican Grill by 4,816.1% during 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 purchasing an additional 8,186,198 shares during the last quarter. Finally, Marshall Wace LLP boosted its position in Chipotle Mexican Grill by 76,617.6% during the second quarter. Marshall Wace LLP now owns 5,904,952 shares of the restaurant operator’s stock worth $369,945,000 after purchasing an additional 5,897,255 shares during the period. 91.31% of the stock is owned by institutional investors.

About Chipotle Mexican Grill

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.