Chipotle Mexican Grill (NYSE:CMG) Given New $69.00 Price Target at Citigroup

Chipotle Mexican Grill (NYSE:CMG) had its price target cut by equities research analysts at Citigroup from $70.00 to $69.00 in a report released on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the restaurant operator’s stock. Citigroup’s target price would suggest a potential upside of 22.31% from the stock’s previous close.

A number of other equities analysts have also commented on the stock. Royal Bank of Canada boosted their price objective on shares of Chipotle Mexican Grill from $70.00 to $75.00 and gave the stock an “outperform” rating in a report on Tuesday, December 17th. TD Cowen upped their target price on shares of Chipotle Mexican Grill from $65.00 to $68.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Oppenheimer upped their target price on shares of Chipotle Mexican Grill from $65.00 to $69.00 and gave the company an “outperform” rating in a research note on Tuesday, January 7th. Wells Fargo & Company upped their target price on shares of Chipotle Mexican Grill from $67.00 to $75.00 and gave the company an “overweight” rating in a research note on Thursday, December 12th. Finally, BMO Capital Markets upped 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 research note on Wednesday, October 30th. Ten research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $66.77.

Chipotle Mexican Grill Trading Down 0.5 %

NYSE:CMG opened at $56.42 on Monday. The firm has a market capitalization of $76.87 billion, a price-to-earnings ratio of 52.60, a PEG ratio of 1.88 and a beta of 1.27. The firm’s fifty day simple moving average is $60.64 and its 200 day simple moving average is $57.72. Chipotle Mexican Grill has a twelve month low of $46.29 and a twelve month high of $69.26.

Chipotle Mexican Grill (NYSE:CMG) last issued its quarterly earnings data on Tuesday, October 29th. The restaurant operator reported $0.27 EPS for the quarter, topping 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 business posted $0.23 EPS. The firm’s revenue was up 13.0% compared to the same quarter last year. On average, analysts predict that Chipotle Mexican Grill will post 1.11 earnings per share for the current year.

Insider Activity at Chipotle Mexican Grill

In related news, insider Laurie Schalow sold 4,404 shares of the company’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 value of $286,304.04. Following the completion of the sale, 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.02% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in CMG. Assenagon Asset Management S.A. increased its stake in Chipotle Mexican Grill by 1,087.9% in the 3rd quarter. Assenagon Asset Management S.A. now owns 4,712,724 shares of the restaurant operator’s stock valued at $271,547,000 after buying an additional 4,315,983 shares during the period. Congress Asset Management Co. acquired a new position in Chipotle Mexican Grill in the 3rd quarter valued at approximately $109,396,000. Thrivent Financial for Lutherans increased its stake in Chipotle Mexican Grill by 674.3% in the 3rd quarter. Thrivent Financial for Lutherans now owns 2,122,778 shares of the restaurant operator’s stock valued at $122,314,000 after buying an additional 1,848,625 shares during the period. Raymond James & Associates increased its stake in Chipotle Mexican Grill by 94.3% in the 3rd quarter. Raymond James & Associates now owns 2,969,776 shares of the restaurant operator’s stock valued at $171,118,000 after buying an additional 1,441,172 shares during the period. Finally, International Assets Investment Management LLC increased its stake in Chipotle Mexican Grill by 5,188.9% in the 3rd quarter. International Assets Investment Management LLC now owns 1,421,140 shares of the restaurant operator’s stock valued at $818,860,000 after buying an additional 1,394,270 shares during the period. Institutional investors and hedge funds 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.