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

by · The Cerbat Gem

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

CMG has been the subject of a number of other research reports. Barclays cut their price objective on shares of Chipotle Mexican Grill from $58.00 to $55.00 and set an equal weight rating for the company in a report on Thursday, July 25th. Wedbush restated an outperform rating and set a $58.00 price objective on shares of Chipotle Mexican Grill in a research note on Thursday, August 29th. Oppenheimer reaffirmed an outperform rating and issued a $65.00 price objective on shares of Chipotle Mexican Grill in a report on Monday, September 30th. Argus increased their target price on Chipotle Mexican Grill from $73.36 to $77.76 and gave the stock a buy rating in a report on Tuesday, June 18th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a buy rating and issued a $67.00 price target on shares of Chipotle Mexican Grill in a research note on Wednesday, August 14th. Ten investment analysts have rated the stock with a hold rating and eighteen have issued 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 $62.44.

Read Our Latest Research Report on CMG

Chipotle Mexican Grill Trading Up 0.7 %

NYSE:CMG opened at $57.11 on Wednesday. The stock has a 50 day simple moving average of $55.08 and a 200 day simple moving average of $81.25. The stock has a market cap of $78.43 billion, a P/E ratio of 60.76, a PEG ratio of 2.43 and a beta of 1.25. Chipotle Mexican Grill has a 1-year low of $35.37 and a 1-year high of $69.26.

Chipotle Mexican Grill (NYSE:CMG – Get Free Report) last posted its earnings results on Wednesday, July 24th. The restaurant operator reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.02. The company had revenue of $2.97 billion during 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 company’s revenue was up 18.2% on a year-over-year basis. During the same quarter last year, the firm earned $12.65 earnings per share. As a group, sell-side analysts forecast that Chipotle Mexican Grill will post 1.08 EPS for the current year.

Insider Activity at Chipotle Mexican Grill

In related news, Director Robin S. Hickenlooper sold 1,790 shares of Chipotle Mexican Grill stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $56.38, for a total transaction of $100,920.20. Following the sale, the director now directly owns 41,510 shares in the company, valued at $2,340,333.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Curtis E. Garner sold 15,750 shares of the stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $55.02, for a total value of $866,565.00. Following the completion of the sale, the insider now owns 473,514 shares of the company’s stock, valued at approximately $26,052,740.28. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Robin S. Hickenlooper sold 1,790 shares of Chipotle Mexican Grill stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $56.38, for a total value of $100,920.20. Following the completion of the transaction, the director now directly owns 41,510 shares in the company, valued at approximately $2,340,333.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 34,934 shares of company stock worth $1,918,589 in the last quarter. 1.02% of the stock is owned by insiders.

Institutional Trading of Chipotle Mexican Grill

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. American Century Companies Inc. boosted its stake in shares of Chipotle Mexican Grill by 4,732.3% in the 2nd quarter. American Century Companies Inc. now owns 20,177,309 shares of the restaurant operator’s stock valued at $1,264,109,000 after purchasing an additional 19,759,754 shares during the last quarter. Legal & General Group Plc lifted its holdings in Chipotle Mexican Grill by 5,209.5% in the second quarter. Legal & General Group Plc now owns 10,935,669 shares of the restaurant operator’s stock valued at $685,128,000 after buying an additional 10,729,706 shares during the period. Massachusetts Financial Services Co. MA boosted its position in Chipotle Mexican Grill by 5,930.8% during the second 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 last quarter. Bank of New York Mellon Corp grew 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 worth $523,514,000 after acquiring an additional 8,186,198 shares during the period. Finally, Marshall Wace LLP raised its position in shares of Chipotle Mexican Grill by 76,617.6% in the 2nd quarter. Marshall Wace LLP now owns 5,904,952 shares of the restaurant operator’s stock worth $369,945,000 after acquiring an additional 5,897,255 shares in the last quarter. Institutional investors and hedge funds own 91.31% of the company’s stock.

About Chipotle Mexican Grill

(Get Free Report)

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.

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