Citigroup Cuts Chipotle Mexican Grill (NYSE:CMG) Price Target to $69.00

Chipotle Mexican Grill (NYSE:CMG) had its price objective lowered by Citigroup from $70.00 to $69.00 in a research report released on Monday,Benzinga reports. The firm currently has a buy rating on the restaurant operator’s stock.

A number of other analysts have also commented on CMG. Evercore ISI boosted their price target on Chipotle Mexican Grill from $70.00 to $72.00 and gave the company an “outperform” rating in a report on Thursday, December 5th. Wedbush reissued an “outperform” rating and issued a $69.00 price objective on shares of Chipotle Mexican Grill in a research report on Wednesday, January 22nd. Oppenheimer boosted their price target on shares of Chipotle Mexican Grill from $65.00 to $69.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 7th. TD Cowen upped their target price on Chipotle Mexican Grill from $65.00 to $68.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Finally, Truist Financial raised their price target on Chipotle Mexican Grill from $72.00 to $74.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Ten research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Chipotle Mexican Grill has a consensus rating of “Moderate Buy” and a consensus price target of $66.88.

Chipotle Mexican Grill Stock Performance

Shares of NYSE CMG opened at $58.34 on Monday. Chipotle Mexican Grill has a 52-week low of $47.88 and a 52-week high of $69.26. The stock has a market cap of $79.49 billion, a P/E ratio of 54.30, a P/E/G ratio of 1.88 and a beta of 1.27. The firm has a 50 day moving average price of $60.61 and a 200 day moving average price of $57.72.

Chipotle Mexican Grill (NYSE:CMG) last announced 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. Chipotle Mexican Grill had a net margin of 13.51% and a return on equity of 43.20%. The firm had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.82 billion. During the same quarter in the previous year, the firm posted $0.23 earnings per share. The business’s revenue was up 13.0% on a year-over-year basis. Analysts predict that Chipotle Mexican Grill will post 1.11 earnings per share for the current fiscal year.

Insider Activity

In other Chipotle Mexican Grill news, insider Laurie Schalow sold 4,404 shares of the business’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $65.01, for a total transaction of $286,304.04. Following the completion of the transaction, the insider now directly owns 185,792 shares in the company, valued at $12,078,337.92. The trade was a 2.32 % 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. Corporate insiders own 1.02% of the company’s stock.

Hedge Funds Weigh In On Chipotle Mexican Grill

A number of institutional investors have recently modified their holdings of the business. Alpha DNA Investment Management LLC increased its position in shares of Chipotle Mexican Grill by 1.2% in the third quarter. Alpha DNA Investment Management LLC now owns 13,644 shares of the restaurant operator’s stock worth $786,000 after purchasing an additional 168 shares during the last quarter. Lecap Asset Management Ltd. grew its stake in Chipotle Mexican Grill by 1.2% in the 3rd quarter. Lecap Asset Management Ltd. now owns 14,625 shares of the restaurant operator’s stock worth $843,000 after buying an additional 175 shares in the last quarter. Connable Office Inc. increased its holdings in shares of Chipotle Mexican Grill by 0.6% in the 3rd quarter. Connable Office Inc. now owns 31,928 shares of the restaurant operator’s stock worth $1,840,000 after buying an additional 178 shares during the last quarter. Albion Financial Group UT lifted its holdings in shares of Chipotle Mexican Grill by 14.4% during the 3rd quarter. Albion Financial Group UT now owns 1,430 shares of the restaurant operator’s stock worth $82,000 after acquiring an additional 180 shares during the last quarter. Finally, Traynor Capital Management Inc. grew its position in Chipotle Mexican Grill by 2.5% in the fourth quarter. Traynor Capital Management Inc. now owns 7,522 shares of the restaurant operator’s stock worth $454,000 after acquiring an additional 181 shares in the last quarter. Institutional investors and hedge funds 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.