Citigroup Has Lowered Expectations for Chipotle Mexican Grill (NYSE:CMG) Stock Price

Chipotle Mexican Grill (NYSE:CMG) had its target price dropped by equities research analysts at Citigroup from $71.00 to $70.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the restaurant operator’s stock. Citigroup’s price target would suggest a potential upside of 25.52% from the company’s previous close.

Other equities research analysts have also issued research reports about the stock. Barclays upped their target price on shares of Chipotle Mexican Grill from $55.00 to $60.00 and gave the stock an “equal weight” rating in a report on Wednesday. Raymond James dropped their target price on shares of Chipotle Mexican Grill from $70.00 to $62.50 and set an “outperform” rating for the company in a report on Thursday, July 25th. BMO Capital Markets upped their target price on shares of Chipotle Mexican Grill from $55.00 to $56.00 and gave the stock a “market perform” rating in a report on Wednesday. Truist Financial upped their target price on shares of Chipotle Mexican Grill from $71.00 to $72.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Evercore ISI upped their target price on shares of Chipotle Mexican Grill from $59.00 to $70.00 and gave the stock an “outperform” rating in a report on Tuesday, October 15th. Ten research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat, Chipotle Mexican Grill has a consensus rating of “Moderate Buy” and an average target price of $64.47.

Chipotle Mexican Grill Price Performance

CMG opened at $55.77 on Wednesday. The firm has a fifty day moving average price of $57.18 and a 200 day moving average price of $81.14. Chipotle Mexican Grill has a 1 year low of $38.01 and a 1 year high of $69.26. The stock has a market cap of $76.38 billion, a P/E ratio of 54.68, a P/E/G ratio of 2.41 and a beta of 1.25.

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

Insiders Place Their Bets

In other news, insider Curtis E. Garner sold 15,750 shares of the stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $57.05, for a total transaction of $898,537.50. Following the completion of the transaction, the insider now directly owns 457,764 shares in the company, valued at approximately $26,115,436.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, insider Curtis E. Garner sold 17,394 shares of the firm’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $54.68, for a total transaction of $951,103.92. Following the transaction, the insider now directly owns 358,300 shares in the company, valued at $19,591,844. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Curtis E. Garner sold 15,750 shares of the firm’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $57.05, for a total value of $898,537.50. Following the transaction, the insider now owns 457,764 shares in the company, valued at $26,115,436.20. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 50,684 shares of company stock worth $2,817,127 in the last 90 days. 1.02% of the stock is owned by company insiders.

Institutional Investors Weigh In On Chipotle Mexican Grill

Several large investors have recently added to or reduced their stakes in CMG. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Chipotle Mexican Grill during the second quarter valued at $25,000. Riverview Trust Co increased its holdings in shares of Chipotle Mexican Grill by 4,900.0% during the second quarter. Riverview Trust Co now owns 400 shares of the restaurant operator’s stock valued at $25,000 after purchasing an additional 392 shares during the period. RiverPark Advisors LLC grew its holdings in Chipotle Mexican Grill by 4,900.0% during the second quarter. RiverPark Advisors LLC now owns 400 shares of the restaurant operator’s stock worth $25,000 after acquiring an additional 392 shares during the period. Archer Investment Corp acquired a new position in Chipotle Mexican Grill during the second quarter worth about $25,000. Finally, Oliver Lagore Vanvalin Investment Group grew its holdings in Chipotle Mexican Grill by 4,900.0% during the second quarter. Oliver Lagore Vanvalin Investment Group now owns 400 shares of the restaurant operator’s stock worth $25,000 after acquiring an additional 392 shares during the period. 91.31% of the stock is owned by institutional investors and hedge funds.

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.