Wedbush Lowers Chipotle Mexican Grill (NYSE:CMG) Price Target to $64.00

Chipotle Mexican Grill (NYSE:CMG) had its price objective reduced by investment analysts at Wedbush from $69.00 to $64.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has an “outperform” rating on the restaurant operator’s stock. Wedbush’s price target would suggest a potential upside of 8.29% from the company’s previous close.

A number of other brokerages also recently commented on CMG. Stephens restated an “equal weight” rating and issued a $65.00 target price on shares of Chipotle Mexican Grill in a research note on Tuesday, November 12th. Cfra raised Chipotle Mexican Grill from a “buy” rating to a “strong-buy” rating and increased their price objective for the stock from $59.00 to $73.00 in a research note on Wednesday. BMO Capital Markets lifted their target price on Chipotle Mexican Grill from $55.00 to $56.00 and gave the company a “market perform” rating in a research report on Wednesday, October 30th. Raymond James dropped their price target on Chipotle Mexican Grill from $72.00 to $69.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 28th. Finally, Truist Financial lifted their price objective on Chipotle Mexican Grill from $72.00 to $74.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Ten research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $66.56.

Chipotle Mexican Grill Stock Performance

CMG opened at $59.10 on Wednesday. Chipotle Mexican Grill has a one year low of $47.98 and a one year high of $69.26. The stock has a market cap of $80.53 billion, a price-to-earnings ratio of 55.01, a P/E/G ratio of 2.07 and a beta of 1.27. The stock’s 50 day moving average price is $60.36 and its 200-day moving average price is $57.84.

Chipotle Mexican Grill (NYSE:CMG) last released its earnings results on Tuesday, February 4th. The restaurant operator reported $0.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.01. Chipotle Mexican Grill had a return on equity of 43.20% and a net margin of 13.51%. As a group, analysts predict that Chipotle Mexican Grill will post 1.11 earnings per share for the current fiscal year.

Insider Buying and Selling at Chipotle Mexican Grill

In related news, insider Laurie Schalow sold 4,404 shares of Chipotle Mexican Grill stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $65.01, for a total transaction of $286,304.04. Following the completion of the sale, the insider now owns 185,792 shares of the company’s stock, valued at $12,078,337.92. The trade was a 2.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 1.02% of the company’s stock.

Hedge Funds Weigh In On Chipotle Mexican Grill

A number of institutional investors have recently bought and sold shares of CMG. Assenagon Asset Management S.A. increased its stake in shares of Chipotle Mexican Grill by 1,087.9% in the third quarter. Assenagon Asset Management S.A. now owns 4,712,724 shares of the restaurant operator’s stock worth $271,547,000 after acquiring an additional 4,315,983 shares during the period. Congress Asset Management Co. purchased a new stake in Chipotle Mexican Grill in the third quarter valued at $109,396,000. Thrivent Financial for Lutherans grew its position in Chipotle Mexican Grill by 674.3% during the 3rd quarter. Thrivent Financial for Lutherans now owns 2,122,778 shares of the restaurant operator’s stock worth $122,314,000 after purchasing an additional 1,848,625 shares during the period. Raymond James & Associates lifted its holdings in shares of 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 grew its holdings in Chipotle Mexican Grill by 5,188.9% during the third quarter. International Assets Investment Management LLC now owns 1,421,140 shares of the restaurant operator’s stock worth $818,860,000 after acquiring an additional 1,394,270 shares during the period. 91.31% of the stock is owned by hedge funds and other 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.