Chipotle Mexican Grill (NYSE:CMG) Given New $65.00 Price Target at Royal Bank of Canada

Chipotle Mexican Grill (NYSE:CMG) had its price objective lowered by Royal Bank of Canada from $70.00 to $65.00 in a research report sent to investors on Monday morning,Benzinga reports. The firm currently has an outperform rating on the restaurant operator’s stock.

Other equities research analysts have also issued research reports about the company. Stephens lowered their price objective on Chipotle Mexican Grill from $61.00 to $60.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 5th. Piper Sandler reduced their target price on Chipotle Mexican Grill from $60.00 to $59.00 and set a “neutral” rating for the company in a report on Wednesday, February 5th. Robert W. Baird lowered their price target on shares of Chipotle Mexican Grill from $68.00 to $62.00 and set an “outperform” rating on the stock in a research note on Monday, April 7th. Morgan Stanley upgraded shares of Chipotle Mexican Grill from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $65.00 to $70.00 in a research note on Monday, March 3rd. Finally, Barclays lowered their target price on shares of Chipotle Mexican Grill from $63.00 to $60.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 5th. Eight investment analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $65.74.

Chipotle Mexican Grill Stock Down 0.4 %

CMG opened at $49.55 on Monday. Chipotle Mexican Grill has a 52 week low of $44.46 and a 52 week high of $69.26. The business has a 50 day moving average price of $51.63 and a two-hundred day moving average price of $56.82. The company has a market cap of $67.16 billion, a PE ratio of 44.63, a P/E/G ratio of 2.04 and a beta of 1.27.

Chipotle Mexican Grill (NYSE:CMG) last announced its quarterly earnings data on Tuesday, February 4th. The restaurant operator reported $0.25 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.01. Chipotle Mexican Grill had a net margin of 13.56% and a return on equity of 42.92%. As a group, sell-side analysts expect that Chipotle Mexican Grill will post 1.29 EPS for the current fiscal year.

Hedge Funds Weigh In On Chipotle Mexican Grill

Large investors have recently added to or reduced their stakes in the business. Norges Bank purchased a new stake in shares of Chipotle Mexican Grill during the 4th quarter valued at $1,093,345,000. Alphinity Investment Management Pty Ltd purchased a new stake in Chipotle Mexican Grill during the fourth quarter worth approximately $692,701,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its stake in Chipotle Mexican Grill by 4,138,574.1% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 8,318,735 shares of the restaurant operator’s stock worth $501,620,000 after buying an additional 8,318,534 shares during the period. Alliancebernstein L.P. boosted its position in Chipotle Mexican Grill by 29.5% during the 4th quarter. Alliancebernstein L.P. now owns 30,100,520 shares of the restaurant operator’s stock worth $1,815,061,000 after purchasing an additional 6,853,470 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in Chipotle Mexican Grill in the 4th quarter valued at $315,220,000. 91.31% of the stock is currently owned by hedge funds and other institutional investors.

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.