Chipotle Mexican Grill (NYSE:CMG) Price Target Lowered to $72.00 at TD Cowen

Chipotle Mexican Grill (NYSE:CMG) had its price target cut by equities researchers at TD Cowen from $3,600.00 to $72.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the restaurant operator’s stock. TD Cowen’s price target suggests a potential upside of 9.71% from the stock’s previous close.

Several other equities analysts have also recently weighed in on the stock. Argus raised their price target on shares of Chipotle Mexican Grill from $73.36 to $77.76 and gave the stock a “buy” rating in a research note on Tuesday, June 18th. Jefferies Financial Group raised their price target on Chipotle Mexican Grill from $47.00 to $54.00 and gave the company a “hold” rating in a report on Tuesday, April 16th. Citigroup raised their price target on Chipotle Mexican Grill from $67.16 to $67.38 and gave the company a “buy” rating in a report on Thursday, April 25th. Deutsche Bank Aktiengesellschaft raised their price target on Chipotle Mexican Grill from $68.00 to $72.00 and gave the company a “buy” rating in a report on Thursday, April 25th. Finally, Wedbush reissued a “neutral” rating and set a $64.00 target price on shares of Chipotle Mexican Grill in a report on Monday, June 17th. Ten analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Chipotle Mexican Grill presently has a consensus rating of “Moderate Buy” and an average target price of $64.02.

Chipotle Mexican Grill Stock Down 0.0 %

CMG traded down $0.03 during trading on Wednesday, reaching $65.63. 19,942,498 shares of the company’s stock were exchanged, compared to its average volume of 13,121,373. Chipotle Mexican Grill has a fifty-two week low of $35.37 and a fifty-two week high of $69.26. The business has a 50 day moving average price of $127.42 and a 200 day moving average price of $78.06. The company has a market capitalization of $1.80 billion, a P/E ratio of 1.40, a PEG ratio of 2.61 and a beta of 1.25.

Chipotle Mexican Grill (NYSE:CMG) last released its quarterly earnings results on Wednesday, April 24th. The restaurant operator reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.04. The business had revenue of $2.70 billion during the quarter, compared to analysts’ expectations of $2.67 billion. Chipotle Mexican Grill had a return on equity of 43.74% and a net margin of 12.70%. As a group, research analysts forecast that Chipotle Mexican Grill will post 55.31 EPS for the current year.

Insider Buying and Selling

In other news, Director Albert S. Baldocchi sold 50,000 shares of the company’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $63.32, for a total transaction of $3,166,010.00. Following the transaction, the director now owns 1,362,500 shares of the company’s stock, valued at $86,273,772.50. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Chipotle Mexican Grill news, COO Scott Boatwright sold 55,000 shares of Chipotle Mexican Grill stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $63.80, for a total transaction of $3,509,176.00. Following the completion of the sale, the chief operating officer now owns 120,600 shares of the company’s stock, valued at approximately $7,694,665.92. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Albert S. Baldocchi sold 50,000 shares of Chipotle Mexican Grill stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $63.32, for a total value of $3,166,010.00. Following the transaction, the director now owns 1,362,500 shares of the company’s stock, valued at approximately $86,273,772.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 550,750 shares of company stock worth $35,023,769. Corporate insiders own 1.02% of the company’s stock.

Institutional Investors Weigh In On Chipotle Mexican Grill

Several large investors have recently bought and sold shares of the company. Insigneo Advisory Services LLC raised its position in Chipotle Mexican Grill by 24.2% in the third quarter. Insigneo Advisory Services LLC now owns 298 shares of the restaurant operator’s stock valued at $546,000 after purchasing an additional 58 shares during the period. Schonfeld Strategic Advisors LLC boosted its stake in shares of Chipotle Mexican Grill by 1,043.0% during the third quarter. Schonfeld Strategic Advisors LLC now owns 10,847 shares of the restaurant operator’s stock worth $19,870,000 after buying an additional 9,898 shares during the period. Armistice Capital LLC boosted its stake in shares of Chipotle Mexican Grill by 32.5% during the third quarter. Armistice Capital LLC now owns 6,425 shares of the restaurant operator’s stock worth $11,770,000 after buying an additional 1,575 shares during the period. Nordea Investment Management AB lifted its position in Chipotle Mexican Grill by 104.5% in the fourth quarter. Nordea Investment Management AB now owns 29,192 shares of the restaurant operator’s stock valued at $66,555,000 after purchasing an additional 14,915 shares during the period. Finally, Gotham Asset Management LLC lifted its position in Chipotle Mexican Grill by 62.4% in the third quarter. Gotham Asset Management LLC now owns 1,527 shares of the restaurant operator’s stock valued at $2,797,000 after purchasing an additional 587 shares during the period. 91.31% of the stock is currently owned by hedge funds and other institutional investors.

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.