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

Chipotle Mexican Grill (NYSE:CMG) had its price objective lowered by TD Cowen from $3,600.00 to $72.00 in a research report report published on Wednesday morning, Benzinga reports. The brokerage currently has a buy rating on the restaurant operator’s stock.

Several other equities research analysts have also recently issued reports on CMG. Truist Financial raised their target price on Chipotle Mexican Grill from $68.80 to $70.40 and gave the stock a buy rating in a research note on Wednesday, May 29th. Deutsche Bank Aktiengesellschaft raised their price target on Chipotle Mexican Grill from $68.00 to $72.00 and gave the stock a buy rating in a research report on Thursday, April 25th. Wedbush restated a neutral rating and set a $64.00 price target on shares of Chipotle Mexican Grill in a research report on Monday, June 17th. UBS Group lifted their target price on Chipotle Mexican Grill from $68.00 to $70.00 and gave the company a buy rating in a report on Thursday, April 25th. Finally, Stephens lifted their target price on Chipotle Mexican Grill from $60.20 to $61.00 and gave the company an equal weight rating in a report on Thursday, April 25th. Nine equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $64.29.

Chipotle Mexican Grill Price Performance

Shares of Chipotle Mexican Grill stock opened at $62.83 on Wednesday. The business has a 50 day simple moving average of $127.77 and a two-hundred day simple moving average of $77.99. Chipotle Mexican Grill has a 12 month low of $35.37 and a 12 month high of $69.26. The stock has a market capitalization of $86.29 billion, a P/E ratio of 66.84, a PEG ratio of 2.62 and a beta of 1.25.

Chipotle Mexican Grill (NYSE:CMG) last posted its quarterly earnings results on Wednesday, April 24th. The restaurant operator reported $0.27 EPS for the quarter, beating the consensus estimate of $0.23 by $0.04. Chipotle Mexican Grill had a return on equity of 43.74% and a net margin of 12.70%. The firm had revenue of $2.70 billion during the quarter, compared to analysts’ expectations of $2.67 billion. As a group, research analysts anticipate that Chipotle Mexican Grill will post 1.11 EPS for the current fiscal year.

Insider Transactions at Chipotle Mexican Grill

In related news, Director Albert S. Baldocchi sold 50,000 shares of the business’s stock in a transaction dated Friday, April 26th. The stock was 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 in the company, valued at approximately $86,273,772.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Chipotle Mexican Grill news, COO Scott Boatwright sold 55,000 shares of Chipotle Mexican Grill stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $63.80, for a total value of $3,509,176.00. Following 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 filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Albert S. Baldocchi sold 50,000 shares of the business’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 value of $3,166,010.00. Following the sale, the director now directly owns 1,362,500 shares in the company, valued at approximately $86,273,772.50. The disclosure for this sale can be found here. Over the last 90 days, 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

Institutional investors have recently modified their holdings of the company. Steph & Co. purchased a new stake in shares of Chipotle Mexican Grill during the 1st quarter worth approximately $29,000. Fortitude Family Office LLC purchased a new stake in Chipotle Mexican Grill in the 4th quarter valued at approximately $32,000. Turtle Creek Wealth Advisors LLC purchased a new stake in Chipotle Mexican Grill in the 4th quarter valued at approximately $37,000. ICA Group Wealth Management LLC purchased a new stake in Chipotle Mexican Grill in the 4th quarter valued at approximately $37,000. Finally, Semmax Financial Advisors Inc. lifted its stake in Chipotle Mexican Grill by 225.0% in the 1st quarter. Semmax Financial Advisors Inc. now owns 13 shares of the restaurant operator’s stock valued at $42,000 after buying an additional 9 shares in the last quarter. Hedge funds and other institutional investors 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.