Chipotle Mexican Grill (NYSE:CMG) Earns Outperform Rating from Sanford C. Bernstein

Sanford C. Bernstein reaffirmed their outperform rating on shares of Chipotle Mexican Grill (NYSE:CMG) in a research note published on Tuesday,Benzinga reports. The brokerage currently has a $70.00 price target on the restaurant operator’s stock.

A number of other research analysts have also commented on CMG. Citigroup decreased their price objective on Chipotle Mexican Grill from $70.00 to $69.00 and set a “buy” rating on the stock in a report on Monday. TD Cowen increased their target price on shares of Chipotle Mexican Grill from $65.00 to $68.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Oppenheimer upped their price objective 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. BMO Capital Markets raised their target price on shares of Chipotle Mexican Grill from $55.00 to $56.00 and gave the company a “market perform” rating in a report on Wednesday, October 30th. Finally, Piper Sandler upped their price target on shares of Chipotle Mexican Grill from $59.00 to $60.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Ten analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $66.88.

Chipotle Mexican Grill Price Performance

Shares of NYSE CMG opened at $58.97 on Tuesday. The business has a 50-day moving average of $60.59 and a 200-day moving average of $57.73. The stock has a market capitalization of $80.35 billion, a price-to-earnings ratio of 54.88, a PEG ratio of 1.88 and a beta of 1.27. Chipotle Mexican Grill has a fifty-two week low of $47.98 and a fifty-two week high of $69.26.

Chipotle Mexican Grill (NYSE:CMG) last announced its quarterly earnings results on Tuesday, October 29th. The restaurant operator reported $0.27 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.02. The firm had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $2.82 billion. Chipotle Mexican Grill had a net margin of 13.51% and a return on equity of 43.20%. The company’s revenue for the quarter was up 13.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.23 earnings per share. On average, sell-side analysts expect that Chipotle Mexican Grill will post 1.11 EPS for the current year.

Insiders Place Their Bets

In other Chipotle Mexican Grill news, insider Laurie Schalow sold 4,404 shares of the stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $65.01, for a total value of $286,304.04. Following the transaction, the insider now owns 185,792 shares in the company, valued at approximately $12,078,337.92. This represents a 2.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.02% of the company’s stock.

Hedge Funds Weigh In On Chipotle Mexican Grill

Institutional investors have recently modified their holdings of the company. Mackenzie Financial Corp raised its holdings in Chipotle Mexican Grill by 4,975.0% during the second quarter. Mackenzie Financial Corp now owns 127,280 shares of the restaurant operator’s stock worth $7,974,000 after buying an additional 124,772 shares during the last quarter. Driehaus Capital Management LLC raised its holdings in shares of Chipotle Mexican Grill by 4,213.0% in the 2nd quarter. Driehaus Capital Management LLC now owns 11,300 shares of the restaurant operator’s stock worth $708,000 after acquiring an additional 11,038 shares during the last quarter. Creative Planning lifted its position in Chipotle Mexican Grill by 5,498.1% in the 2nd quarter. Creative Planning now owns 242,957 shares of the restaurant operator’s stock valued at $15,221,000 after acquiring an additional 238,617 shares in the last quarter. NewEdge Advisors LLC lifted its position in Chipotle Mexican Grill by 5,877.5% in the 2nd quarter. NewEdge Advisors LLC now owns 40,647 shares of the restaurant operator’s stock valued at $2,547,000 after acquiring an additional 39,967 shares in the last quarter. Finally, Sunbelt Securities Inc. boosted its stake in Chipotle Mexican Grill by 4,407.4% during the 2nd quarter. Sunbelt Securities Inc. now owns 9,150 shares of the restaurant operator’s stock valued at $573,000 after purchasing an additional 8,947 shares during the last quarter. 91.31% of the stock is owned by institutional investors and hedge funds.

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.