Chipotle Mexican Grill (NYSE:CMG) Given New $70.00 Price Target at Robert W. Baird

Chipotle Mexican Grill (NYSE:CMG) had its price objective boosted by Robert W. Baird from $62.00 to $70.00 in a report published on Wednesday, Benzinga reports. The firm currently has an outperform rating on the restaurant operator’s stock.

CMG has been the topic of several other research reports. KeyCorp dropped their price target on Chipotle Mexican Grill from $68.00 to $66.00 and set an “overweight” rating on the stock in a research note on Thursday, July 25th. Guggenheim raised their price objective on Chipotle Mexican Grill from $54.50 to $55.00 and gave the company a “neutral” rating in a report on Wednesday, July 24th. Evercore ISI lifted their price target on Chipotle Mexican Grill from $59.00 to $70.00 and gave the stock an “outperform” rating in a report on Tuesday, October 15th. BMO Capital Markets reduced their price target on Chipotle Mexican Grill from $57.00 to $55.00 and set a “market perform” rating for the company in a report on Thursday, July 25th. Finally, Barclays reduced their price target on 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. Ten investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat, Chipotle Mexican Grill has a consensus rating of “Moderate Buy” and a consensus target price of $64.47.

Chipotle Mexican Grill Price Performance

NYSE CMG opened at $55.76 on Wednesday. The firm has a market cap of $76.36 billion, a PE ratio of 54.67, a price-to-earnings-growth ratio of 2.41 and a beta of 1.25. Chipotle Mexican Grill has a one year low of $38.01 and a one year high of $69.26. The stock’s 50 day simple moving average is $57.14 and its 200 day simple moving average is $81.32.

Chipotle Mexican Grill (NYSE:CMG) last posted its quarterly earnings results on Tuesday, October 29th. The restaurant operator reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.02. The company had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.82 billion. Chipotle Mexican Grill had a return on equity of 44.01% and a net margin of 13.23%. The firm’s quarterly revenue was up 13.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.23 EPS. As a group, equities analysts expect that Chipotle Mexican Grill will post 1.08 earnings per share for the current year.

Insider Activity

In other 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 value of $100,920.20. Following the completion of the sale, the director now directly owns 41,510 shares in the company, valued at approximately $2,340,333.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Chipotle Mexican Grill news, Director Robin S. Hickenlooper sold 1,790 shares of the business’s 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 completion of the transaction, the director now directly owns 41,510 shares in the company, valued at $2,340,333.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Curtis E. Garner sold 17,394 shares of the business’s stock in a transaction that occurred 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 transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 50,684 shares of company stock worth $2,817,127. Corporate insiders own 1.02% of the company’s stock.

Institutional Trading of Chipotle Mexican Grill

A number of hedge funds and other institutional investors have recently modified their holdings of CMG. American Century Companies Inc. grew its stake in shares of 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 grew its stake in shares of Chipotle Mexican Grill by 5,209.5% during the second quarter. Legal & General Group Plc now owns 10,935,669 shares of the restaurant operator’s stock worth $685,128,000 after buying an additional 10,729,706 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of 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 worth $645,930,000 after buying an additional 10,139,174 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of 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 buying an additional 8,186,198 shares during the last quarter. Finally, Marshall Wace LLP grew its stake in shares of 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 buying an additional 5,897,255 shares during the last quarter. Institutional investors own 91.31% of the company’s stock.

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.