Chipotle Mexican Grill (NYSE:CMG) Given New $70.00 Price Target at Robert W. Baird

Chipotle Mexican Grill (NYSE:CMG) had its target price upped by Robert W. Baird from $62.00 to $70.00 in a report issued on Wednesday morning, Benzinga reports. Robert W. Baird currently has an outperform rating on the restaurant operator’s stock.

CMG has been the topic of a number of other research reports. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $67.00 target price on shares of Chipotle Mexican Grill in a research report on Wednesday, August 14th. Piper Sandler lifted their target price on Chipotle Mexican Grill from $56.00 to $59.00 and gave the company a “neutral” rating in a research report on Friday, October 11th. TD Cowen reiterated a “buy” rating and set a $65.00 price target on shares of Chipotle Mexican Grill in a report on Thursday, September 12th. Stephens reiterated an “equal weight” rating and set a $61.00 price target on shares of Chipotle Mexican Grill in a report on Tuesday, August 13th. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $70.00 price target on shares of Chipotle Mexican Grill in a report on Wednesday, August 14th. Ten research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $64.47.

Chipotle Mexican Grill Stock Performance

NYSE:CMG opened at $58.59 on Wednesday. The stock’s 50-day simple moving average is $57.28 and its 200 day simple moving average is $81.30. The company has a market cap of $80.24 billion, a P/E ratio of 54.76, a P/E/G ratio of 2.41 and a beta of 1.26. Chipotle Mexican Grill has a 52-week low of $39.92 and a 52-week high of $69.26.

Chipotle Mexican Grill (NYSE:CMG) last released its earnings results on Tuesday, October 29th. The restaurant operator reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.02. The business had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.82 billion. Chipotle Mexican Grill had a return on equity of 43.20% and a net margin of 13.51%. Chipotle Mexican Grill’s quarterly revenue was up 13.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.23 earnings per share. As a group, equities analysts predict that Chipotle Mexican Grill will post 1.1 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Robin S. Hickenlooper sold 1,790 shares of Chipotle Mexican Grill stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $56.38, for a total value of $100,920.20. Following the completion of the sale, the director now directly owns 41,510 shares in the company, valued at approximately $2,340,333.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Chipotle Mexican Grill news, insider Curtis E. Garner sold 17,394 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $54.68, for a total transaction of $951,103.92. Following the completion of the transaction, the insider now directly owns 358,300 shares in the company, valued at $19,591,844. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Robin S. Hickenlooper sold 1,790 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $56.38, for a total transaction of $100,920.20. Following the transaction, the director now owns 41,510 shares of the company’s stock, valued at approximately $2,340,333.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 50,684 shares of company stock worth $2,817,127. Corporate insiders own 1.02% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in CMG. American Century Companies Inc. raised its position 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 valued at $1,264,109,000 after purchasing an additional 19,759,754 shares in the last quarter. Legal & General Group Plc increased its holdings in shares of Chipotle Mexican Grill by 5,209.5% during the second quarter. Legal & General Group Plc now owns 10,935,669 shares of the restaurant operator’s stock worth $685,128,000 after buying an additional 10,729,706 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of Chipotle Mexican Grill by 5,930.8% during the second quarter. Massachusetts Financial Services Co. MA now owns 10,310,132 shares of the restaurant operator’s stock worth $645,930,000 after buying an additional 10,139,174 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of 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 increased its holdings in shares of 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 worth $369,945,000 after buying an additional 5,897,255 shares in the last quarter. 91.31% of the stock is currently owned by institutional investors and hedge funds.

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.