Chipotle Mexican Grill (NYSE:CMG) Price Target Raised to $60.00

Chipotle Mexican Grill (NYSE:CMG) had its price objective hoisted by KeyCorp from $58.00 to $60.00 in a research report report published on Tuesday morning,Benzinga reports. They currently have an overweight rating on the restaurant operator’s stock.

CMG has been the topic of several other reports. Barclays upped their price target on Chipotle Mexican Grill from $52.00 to $54.00 and gave the company an “equal weight” rating in a research report on Thursday, June 26th. Wells Fargo & Company reduced their price objective on Chipotle Mexican Grill from $70.00 to $60.00 and set an “overweight” rating for the company in a research report on Tuesday, April 22nd. JPMorgan Chase & Co. decreased their target price on shares of Chipotle Mexican Grill from $58.00 to $54.00 and set a “neutral” rating for the company in a research report on Thursday, May 29th. Stephens reiterated an “equal weight” rating and set a $49.00 price target on shares of Chipotle Mexican Grill in a research report on Monday, June 9th. Finally, Loop Capital reduced their price objective on shares of Chipotle Mexican Grill from $65.00 to $63.00 and set a “buy” rating for the company in a research report on Thursday, April 24th. Ten analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $61.41.

Chipotle Mexican Grill Stock Up 0.3%

CMG opened at $53.52 on Tuesday. The firm’s 50 day moving average is $52.82 and its 200-day moving average is $52.98. The firm has a market capitalization of $72.11 billion, a P/E ratio of 47.37, a P/E/G ratio of 2.65 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.

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

Insider Activity

In related news, insider Roger E. Theodoredis sold 113,875 shares of the firm’s stock in a transaction that occurred on Monday, June 2nd. The shares were 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 approximately $5,457,805.50. This trade represents a 50.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.81% of the stock is currently owned by corporate insiders.

Institutional Trading of Chipotle Mexican Grill

Institutional investors have recently made changes to their positions in the business. Norges Bank acquired a new position in shares of Chipotle Mexican Grill during the 4th quarter worth about $1,093,345,000. Nuveen LLC bought a new position in shares of Chipotle Mexican Grill during the 1st quarter worth approximately $535,023,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its holdings in shares of Chipotle Mexican Grill by 4,138,574.1% in 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 valued at $501,620,000 after purchasing an additional 8,318,534 shares during the last quarter. Alliancebernstein L.P. raised its holdings in Chipotle Mexican Grill by 29.5% in the 4th quarter. Alliancebernstein L.P. now owns 30,100,520 shares of the restaurant operator’s stock valued at $1,815,061,000 after acquiring an additional 6,853,470 shares during the period. Finally, Goldman Sachs Group Inc. increased its stake in shares of Chipotle Mexican Grill by 98.1% during the first quarter. Goldman Sachs Group Inc. now owns 9,900,521 shares of the restaurant operator’s stock worth $497,105,000 after purchasing an additional 4,903,969 shares during the period. 91.31% of the stock is currently 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.