Citigroup Issues Positive Forecast for Chipotle Mexican Grill (NYSE:CMG) Stock Price

Chipotle Mexican Grill (NYSE:CMG) had its target price raised by Citigroup from $69.00 to $70.00 in a report issued on Wednesday morning,Benzinga reports. The brokerage currently has a buy rating on the restaurant operator’s stock.

A number of other equities analysts have also commented on CMG. TD Cowen boosted their price objective on Chipotle Mexican Grill from $65.00 to $68.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Raymond James reduced their price target on shares of Chipotle Mexican Grill from $72.00 to $69.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 28th. Oppenheimer raised their price objective on shares of Chipotle Mexican Grill from $65.00 to $69.00 and gave the company an “outperform” rating in a research report on Tuesday, January 7th. Piper Sandler increased their price target on shares of Chipotle Mexican Grill from $59.00 to $60.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Finally, Truist Financial boosted their price objective on shares of Chipotle Mexican Grill from $72.00 to $74.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Ten investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Chipotle Mexican Grill presently has an average rating of “Moderate Buy” and a consensus target price of $66.31.

Chipotle Mexican Grill Stock Down 2.5 %

CMG stock opened at $57.54 on Wednesday. The business’s 50-day simple moving average is $60.36 and its 200 day simple moving average is $57.84. The company has a market cap of $78.41 billion, a PE ratio of 53.56, a price-to-earnings-growth ratio of 2.07 and a beta of 1.27. Chipotle Mexican Grill has a twelve month low of $47.98 and a twelve month high of $69.26.

Chipotle Mexican Grill (NYSE:CMG) last announced its quarterly earnings results on Tuesday, February 4th. The restaurant operator reported $0.25 EPS for the quarter, beating the consensus estimate of $0.24 by $0.01. Chipotle Mexican Grill had a return on equity of 43.20% and a net margin of 13.51%. On average, equities research analysts anticipate that Chipotle Mexican Grill will post 1.11 EPS for the current year.

Insider Activity

In other Chipotle Mexican Grill news, insider Laurie Schalow sold 4,404 shares of the stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $65.01, for a total value of $286,304.04. Following the completion of the transaction, the insider now directly owns 185,792 shares in the company, valued at approximately $12,078,337.92. This trade represents a 2.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.02% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. SRS Capital Advisors Inc. increased its stake in shares of Chipotle Mexican Grill by 796.6% in the fourth quarter. SRS Capital Advisors Inc. now owns 24,541 shares of the restaurant operator’s stock valued at $1,480,000 after buying an additional 21,804 shares during the period. Bailard Inc. acquired a new stake in Chipotle Mexican Grill during the 4th quarter valued at approximately $514,000. Smartleaf Asset Management LLC raised its holdings in Chipotle Mexican Grill by 67.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 7,645 shares of the restaurant operator’s stock worth $459,000 after purchasing an additional 3,084 shares during the last quarter. Keynote Financial Services LLC bought a new position in Chipotle Mexican Grill during the 4th quarter worth approximately $203,000. Finally, Mitchell Capital Management Co. lifted its position in shares of Chipotle Mexican Grill by 0.7% in the 4th quarter. Mitchell Capital Management Co. now owns 102,499 shares of the restaurant operator’s stock worth $6,181,000 after purchasing an additional 725 shares during the period. 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.