Chipotle Mexican Grill (NYSE:CMG) Price Target Cut to $55.00 by Analysts at BMO Capital Markets

Chipotle Mexican Grill (NYSE:CMG) had its target price reduced by analysts at BMO Capital Markets from $57.00 to $55.00 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has a “market perform” rating on the restaurant operator’s stock. BMO Capital Markets’ price objective would indicate a potential upside of 9.28% from the stock’s current price.

Other analysts have also issued research reports about the stock. JPMorgan Chase & Co. lifted their price objective on shares of Chipotle Mexican Grill from $55.00 to $60.00 and gave the company a “neutral” rating in a research note on Monday, June 3rd. KeyCorp lowered their price objective on shares of Chipotle Mexican Grill from $3,400.00 to $68.00 and set an “overweight” rating for the company in a research note on Tuesday, July 9th. Jefferies Financial Group lifted their price target on shares of Chipotle Mexican Grill from $47.00 to $54.00 and gave the company a “hold” rating in a research report on Tuesday, April 16th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Chipotle Mexican Grill from $72.00 to $67.00 and set a “buy” rating for the company in a research report on Thursday. Finally, Argus lifted their price target on shares of Chipotle Mexican Grill from $73.36 to $77.76 and gave the company a “buy” rating in a research report on Tuesday, June 18th. Ten research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat, Chipotle Mexican Grill presently has a consensus rating of “Moderate Buy” and a consensus target price of $63.97.

Chipotle Mexican Grill Stock Down 2.8 %

Chipotle Mexican Grill stock traded down $1.45 during mid-day trading on Thursday, hitting $50.33. 21,493,074 shares of the stock were exchanged, compared to its average volume of 14,107,564. Chipotle Mexican Grill has a 12 month low of $35.37 and a 12 month high of $69.26. The firm’s fifty day simple moving average is $125.89 and its two-hundred day simple moving average is $79.68. The stock has a market capitalization of $69.12 billion, a price-to-earnings ratio of 53.70, a PEG ratio of 2.10 and a beta of 1.24.

Chipotle Mexican Grill (NYSE:CMG) last released its quarterly earnings data on Wednesday, July 24th. The restaurant operator reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.02. The company had revenue of $2.97 billion during the quarter, compared to analyst estimates of $2.94 billion. Chipotle Mexican Grill had a net margin of 12.70% and a return on equity of 43.74%. Chipotle Mexican Grill’s revenue for the quarter was up 18.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $12.65 EPS. As a group, analysts forecast that Chipotle Mexican Grill will post 1.1 earnings per share for the current fiscal year.

Insider Activity 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 sale, the director now directly owns 1,362,500 shares in the company, valued at approximately $86,273,772.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Brian R. Niccol sold 320,300 shares of the company’s stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $63.72, for a total transaction of $20,409,003.52. Following the sale, the chief executive officer now directly owns 1,133,450 shares in the company, valued at $72,221,620.48. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Albert S. Baldocchi sold 50,000 shares of the company’s 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 sale, the director now owns 1,362,500 shares in the company, valued at $86,273,772.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 550,750 shares of company stock worth $35,023,769. Company insiders own 1.02% of the company’s stock.

Institutional Investors Weigh In On Chipotle Mexican Grill

Hedge funds and other institutional investors have recently modified their holdings of the stock. Moody National Bank Trust Division increased its position in shares of Chipotle Mexican Grill by 1.0% during the first quarter. Moody National Bank Trust Division now owns 490 shares of the restaurant operator’s stock valued at $1,424,000 after buying an additional 5 shares during the period. Perpetual Ltd bought a new position in Chipotle Mexican Grill during the first quarter valued at approximately $730,000. GAMMA Investing LLC grew its position in Chipotle Mexican Grill by 27.6% during the first quarter. GAMMA Investing LLC now owns 250 shares of the restaurant operator’s stock valued at $727,000 after acquiring an additional 54 shares during the last quarter. M&G Plc bought a new position in Chipotle Mexican Grill during the first quarter valued at approximately $9,221,000. Finally, Gulf International Bank UK Ltd grew its position in Chipotle Mexican Grill by 0.7% during the first quarter. Gulf International Bank UK Ltd now owns 2,281 shares of the restaurant operator’s stock valued at $6,630,000 after acquiring an additional 15 shares during the last quarter. 91.31% of the stock is currently owned by institutional investors.

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.