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

Chipotle Mexican Grill (NYSE:CMG) had its target price upped by equities research analysts at Piper Sandler from $59.00 to $60.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a “neutral” rating on the restaurant operator’s stock. Piper Sandler’s target price points to a potential upside of 6.88% from the company’s previous close.

CMG has been the topic of a number of other research reports. Robert W. Baird boosted their price objective on shares of Chipotle Mexican Grill from $62.00 to $70.00 and gave the company an “outperform” rating in a research report on Wednesday. Barclays raised their price objective on shares of Chipotle Mexican Grill from $55.00 to $60.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Stephens reiterated an “equal weight” rating and issued a $61.00 price target on shares of Chipotle Mexican Grill in a report on Tuesday, August 13th. Wedbush restated an “outperform” rating and set a $58.00 price objective on shares of Chipotle Mexican Grill in a report on Thursday, August 29th. Finally, BMO Capital Markets increased their target price on Chipotle Mexican Grill from $55.00 to $56.00 and gave the stock a “market perform” rating in a research note on Wednesday. Ten equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $63.66.

Chipotle Mexican Grill Stock Down 7.2 %

NYSE:CMG traded down $4.35 during trading hours on Wednesday, hitting $56.14. 16,908,161 shares of the stock traded hands, compared to its average volume of 13,943,000. The company has a market cap of $76.88 billion, a price-to-earnings ratio of 54.95, a price-to-earnings-growth ratio of 2.41 and a beta of 1.25. Chipotle Mexican Grill has a 1 year low of $38.01 and a 1 year high of $69.26. The stock has a 50 day moving average price of $57.10 and a 200 day moving average price of $81.50.

Chipotle Mexican Grill (NYSE:CMG) last issued its quarterly earnings data on Tuesday, October 29th. The restaurant operator reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.02. The company had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.82 billion. Chipotle Mexican Grill had a return on equity of 44.01% and a net margin of 13.23%. The firm’s revenue for the quarter was up 13.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.23 earnings per share. Equities analysts forecast that Chipotle Mexican Grill will post 1.08 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Chipotle Mexican Grill news, insider Curtis E. Garner sold 15,750 shares of the firm’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $57.05, for a total value of $898,537.50. Following the completion of the sale, the insider now owns 457,764 shares of the company’s stock, valued at approximately $26,115,436.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Chipotle Mexican Grill news, insider Curtis E. Garner sold 17,394 shares of Chipotle Mexican Grill stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $54.68, for a total transaction of $951,103.92. Following the completion of the sale, the insider now owns 358,300 shares of the company’s stock, valued at approximately $19,591,844. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Curtis E. Garner sold 15,750 shares of the stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $57.05, for a total value of $898,537.50. Following the completion of the transaction, the insider now directly owns 457,764 shares in the company, valued at $26,115,436.20. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 50,684 shares of company stock valued at $2,817,127. 1.02% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Chipotle Mexican Grill

A number of large investors have recently bought and sold shares of CMG. American Century Companies Inc. grew its holdings in Chipotle Mexican Grill by 4,732.3% during the second quarter. American Century Companies Inc. now owns 20,177,309 shares of the restaurant operator’s stock worth $1,264,109,000 after acquiring an additional 19,759,754 shares during the period. Legal & General Group Plc grew its stake in shares of Chipotle Mexican Grill by 5,209.5% during the 2nd quarter. Legal & General Group Plc now owns 10,935,669 shares of the restaurant operator’s stock worth $685,128,000 after purchasing an additional 10,729,706 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in shares of Chipotle Mexican Grill by 5,930.8% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 10,310,132 shares of the restaurant operator’s stock valued at $645,930,000 after purchasing an additional 10,139,174 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Chipotle Mexican Grill by 4,816.1% during the second quarter. Bank of New York Mellon Corp now owns 8,356,173 shares of the restaurant operator’s stock worth $523,514,000 after buying an additional 8,186,198 shares in the last quarter. Finally, Marshall Wace LLP grew its position in Chipotle Mexican Grill by 76,617.6% during the second quarter. Marshall Wace LLP now owns 5,904,952 shares of the restaurant operator’s stock valued at $369,945,000 after buying an additional 5,897,255 shares during the period. Hedge funds and other institutional investors 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.