Chipotle Mexican Grill (NYSE:CMG) Given New $71.00 Price Target at Truist Financial

Chipotle Mexican Grill (NYSE:CMG) had its target price hoisted by Truist Financial from $69.00 to $71.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the restaurant operator’s stock. Truist Financial’s target price would indicate a potential upside of 19.45% from the stock’s current price.

CMG has been the topic of a number of other reports. StockNews.com downgraded shares of Chipotle Mexican Grill from a “buy” rating to a “hold” rating in a research note on Thursday, July 4th. Evercore ISI boosted their price target on Chipotle Mexican Grill from $59.00 to $70.00 and gave the stock an “outperform” rating in a research report on Tuesday. Oppenheimer reiterated an “outperform” rating and issued a $65.00 target price on shares of Chipotle Mexican Grill in a report on Monday, September 30th. KeyCorp lowered their price target on shares of Chipotle Mexican Grill from $68.00 to $66.00 and set an “overweight” rating on the stock in a report on Thursday, July 25th. Finally, The Goldman Sachs Group reduced their price objective on shares of Chipotle Mexican Grill from $74.60 to $67.00 and set a “buy” rating for the company in a research note on Thursday, July 25th. Ten equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $63.03.

Chipotle Mexican Grill Stock Performance

Chipotle Mexican Grill stock opened at $59.44 on Tuesday. The company has a market capitalization of $81.63 billion, a PE ratio of 63.06, a P/E/G ratio of 2.41 and a beta of 1.25. The company has a 50 day moving average price of $55.74 and a 200-day moving average price of $81.41. Chipotle Mexican Grill has a fifty-two week low of $35.58 and a fifty-two week high of $69.26.

Chipotle Mexican Grill (NYSE:CMG) last posted its quarterly earnings results on Wednesday, July 24th. The restaurant operator reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.02. The business had revenue of $2.97 billion for the quarter, compared to the consensus estimate of $2.94 billion. Chipotle Mexican Grill had a return on equity of 44.01% and a net margin of 13.23%. The business’s revenue was up 18.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $12.65 EPS. On average, analysts forecast that Chipotle Mexican Grill will post 1.08 earnings per share 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 company’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $54.68, for a total value of $951,103.92. Following the sale, the insider now owns 358,300 shares in the company, valued at $19,591,844. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, 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 sale, the insider now directly owns 358,300 shares of the company’s stock, valued at approximately $19,591,844. 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 at this hyperlink. Also, insider Curtis E. Garner sold 15,750 shares of Chipotle Mexican Grill 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 completion of the transaction, the insider now directly owns 473,514 shares of the company’s stock, valued at $26,052,740.28. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 50,684 shares of company stock worth $2,817,127. Insiders own 1.02% of the company’s stock.

Hedge Funds Weigh In On Chipotle Mexican Grill

A number of large investors have recently bought and sold shares of CMG. American Century Companies Inc. increased its position in shares of Chipotle Mexican Grill by 4,732.3% in the second quarter. American Century Companies Inc. now owns 20,177,309 shares of the restaurant operator’s stock valued at $1,264,109,000 after buying an additional 19,759,754 shares in the last quarter. Legal & General Group Plc grew its stake in Chipotle Mexican Grill by 5,209.5% in the 2nd quarter. Legal & General Group Plc now owns 10,935,669 shares of the restaurant operator’s stock valued at $685,128,000 after acquiring an additional 10,729,706 shares during the period. Massachusetts Financial Services Co. MA increased its holdings 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 worth $645,930,000 after acquiring an additional 10,139,174 shares in the last quarter. Bank of New York Mellon Corp raised its position in Chipotle Mexican Grill by 4,816.1% during the second quarter. Bank of New York Mellon Corp now owns 8,356,173 shares of the restaurant operator’s stock worth $523,514,000 after acquiring an additional 8,186,198 shares during the period. Finally, Marshall Wace LLP lifted its holdings 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 valued at $369,945,000 after purchasing an additional 5,897,255 shares in the last quarter. 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.