Citigroup Cuts Chipotle Mexican Grill (NYSE:CMG) Price Target to $70.00

Chipotle Mexican Grill (NYSE:CMG) had its price objective cut by Citigroup from $71.00 to $70.00 in a report published 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 reports. Piper Sandler upped their price target on shares of Chipotle Mexican Grill from $59.00 to $60.00 and gave the company a “neutral” rating in a report on Wednesday. KeyCorp reduced their price objective 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. Wells Fargo & Company boosted their price objective on shares of Chipotle Mexican Grill from $66.00 to $67.00 and gave the company an “overweight” rating in a research report on Wednesday. Oppenheimer reissued an “outperform” rating and set a $65.00 price objective on shares of Chipotle Mexican Grill in a research report on Monday, September 30th. Finally, TD Cowen boosted their price objective on shares of Chipotle Mexican Grill from $65.00 to $68.00 and gave the company a “buy” rating in a research report on Wednesday. Ten equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $64.47.

Chipotle Mexican Grill Price Performance

CMG stock opened at $58.59 on Wednesday. Chipotle Mexican Grill has a one year low of $39.92 and a one year high of $69.26. The stock has a market cap of $80.24 billion, a PE ratio of 54.53, a P/E/G ratio of 2.41 and a beta of 1.25. The firm has a 50 day simple moving average of $57.28 and a two-hundred day simple moving average of $81.14.

Chipotle Mexican Grill (NYSE:CMG) last announced its quarterly earnings data on Tuesday, October 29th. The restaurant operator reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.02. The firm had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.82 billion. Chipotle Mexican Grill had a net margin of 13.51% and a return on equity of 43.20%. The business’s quarterly revenue was up 13.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.23 EPS. On average, research analysts expect that Chipotle Mexican Grill will post 1.1 EPS for the current fiscal year.

Insider Transactions at Chipotle Mexican Grill

In other news, Director Robin S. Hickenlooper sold 1,790 shares of the 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 transaction, the director now owns 41,510 shares in the company, valued at $2,340,333.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, insider Curtis E. Garner sold 15,750 shares of the stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $55.02, for a total value of $866,565.00. Following the transaction, the insider now owns 473,514 shares in the company, valued at $26,052,740.28. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 transaction, the director now directly owns 41,510 shares in the company, valued at $2,340,333.80. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 50,684 shares of company stock worth $2,817,127 in the last quarter. Company insiders own 1.02% of the company’s stock.

Hedge Funds Weigh In On Chipotle Mexican Grill

Several large investors have recently added to or reduced their stakes in CMG. Valeo Financial Advisors LLC lifted its holdings in Chipotle Mexican Grill by 84.1% during the first quarter. Valeo Financial Advisors LLC now owns 416 shares of the restaurant operator’s stock valued at $1,210,000 after purchasing an additional 190 shares in the last quarter. Valley National Advisers Inc. lifted its holdings in Chipotle Mexican Grill by 9.8% during the first quarter. Valley National Advisers Inc. now owns 45 shares of the restaurant operator’s stock valued at $131,000 after purchasing an additional 4 shares in the last quarter. Norden Group LLC purchased a new position in Chipotle Mexican Grill during the first quarter valued at approximately $2,163,000. Westside Investment Management Inc. purchased a new position in Chipotle Mexican Grill during the first quarter valued at approximately $58,000. Finally, First Trust Direct Indexing L.P. lifted its holdings in Chipotle Mexican Grill by 14.8% during the first quarter. First Trust Direct Indexing L.P. now owns 458 shares of the restaurant operator’s stock valued at $1,331,000 after purchasing an additional 59 shares in the last quarter. Hedge funds and other institutional investors 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.