Chipotle Mexican Grill (NYSE:CMG) Coverage Initiated by Analysts at Melius

Melius initiated coverage on shares of Chipotle Mexican Grill (NYSE:CMG) in a research note issued to investors on Monday morning, MarketBeat reports. The brokerage issued a hold rating and a $60.00 target price on the restaurant operator’s stock.

CMG has been the topic of several other reports. Argus downgraded Chipotle Mexican Grill from a “buy” rating to a “hold” rating in a research report on Monday, April 28th. KeyCorp lowered their target price on Chipotle Mexican Grill from $60.00 to $58.00 and set an “overweight” rating for the company in a research note on Thursday, April 24th. Robert W. Baird increased their target price on Chipotle Mexican Grill from $58.00 to $62.00 and gave the company an “outperform” rating in a research note on Wednesday, July 2nd. Piper Sandler lowered their target price on Chipotle Mexican Grill from $59.00 to $52.00 and set a “neutral” rating for the company in a research note on Thursday, April 24th. Finally, Citigroup increased their target price on Chipotle Mexican Grill from $65.00 to $68.00 and gave the company a “buy” rating in a research note on Thursday, July 10th. Ten analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $61.21.

Chipotle Mexican Grill Stock Down 2.1%

CMG opened at $54.81 on Monday. The firm has a market cap of $73.85 billion, a price-to-earnings ratio of 48.51, a price-to-earnings-growth ratio of 2.78 and a beta of 1.08. Chipotle Mexican Grill has a 52 week low of $44.46 and a 52 week high of $66.74. The business’s 50 day moving average is $52.68 and its two-hundred day moving average is $53.02.

Chipotle Mexican Grill (NYSE:CMG) last released its earnings results on Wednesday, April 23rd. The restaurant operator reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.01. Chipotle Mexican Grill had a return on equity of 43.29% and a net margin of 13.59%. The business had revenue of $2.88 billion for the quarter, compared to analyst estimates of $2.98 billion. During the same quarter in the previous year, the company posted $13.37 earnings per share. The company’s revenue for the quarter was up 6.4% compared to the same quarter last year. Equities analysts expect that Chipotle Mexican Grill will post 1.29 EPS for the current fiscal year.

Insiders Place Their Bets

In other Chipotle Mexican Grill news, insider Roger E. Theodoredis sold 113,875 shares of Chipotle Mexican Grill stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $49.70, for a total transaction of $5,659,587.50. Following the transaction, the insider owned 109,815 shares of the company’s stock, valued at $5,457,805.50. The trade was a 50.91% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.02% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Chipotle Mexican Grill

Institutional investors and hedge funds have recently bought and sold shares of the business. Cloud Capital Management LLC purchased a new position in Chipotle Mexican Grill during the 1st quarter valued at about $25,000. Oliver Lagore Vanvalin Investment Group purchased a new position in Chipotle Mexican Grill during the 2nd quarter valued at about $29,000. 1248 Management LLC purchased a new position in Chipotle Mexican Grill during the 1st quarter valued at about $27,000. Saudi Central Bank purchased a new position in Chipotle Mexican Grill during the 1st quarter valued at about $27,000. Finally, HighMark Wealth Management LLC grew its stake in Chipotle Mexican Grill by 173.4% during the 1st quarter. HighMark Wealth Management LLC now owns 585 shares of the restaurant operator’s stock valued at $29,000 after acquiring an additional 371 shares in the last quarter. Hedge funds and other institutional investors own 91.31% of the company’s stock.

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.