Barclays Cuts Chipotle Mexican Grill (NYSE:CMG) Price Target to $53.00

Chipotle Mexican Grill (NYSE:CMG) had its price objective decreased by Barclays from $55.00 to $53.00 in a research note released on Thursday,Benzinga reports. Barclays currently has an equal weight rating on the restaurant operator’s stock.

Several other equities research analysts have also weighed in on CMG. Stephens restated an “equal weight” rating and issued a $49.00 target price on shares of Chipotle Mexican Grill in a report on Monday, June 9th. Piper Sandler dropped their price target on shares of Chipotle Mexican Grill from $59.00 to $52.00 and set a “neutral” rating on the stock in a research report on Thursday, April 24th. Raymond James Financial upped their price objective on shares of Chipotle Mexican Grill from $58.00 to $62.00 and gave the stock an “outperform” rating in a report on Thursday, July 17th. Royal Bank Of Canada lowered their target price on shares of Chipotle Mexican Grill from $65.00 to $60.00 and set an “outperform” rating on the stock in a research note on Thursday, April 24th. Finally, Redburn Atlantic assumed coverage on shares of Chipotle Mexican Grill in a research report on Tuesday, June 10th. They set a “neutral” rating and a $55.00 target price for the company. Nine research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $60.71.

Chipotle Mexican Grill Trading Up 2.2%

Shares of NYSE:CMG opened at $46.75 on Thursday. The stock has a market capitalization of $62.98 billion, a PE ratio of 41.74, a P/E/G ratio of 2.35 and a beta of 1.08. Chipotle Mexican Grill has a 1 year low of $44.46 and a 1 year high of $66.74. The firm has a fifty day moving average price of $52.75 and a 200 day moving average price of $52.58.

Chipotle Mexican Grill (NYSE:CMG) last announced its quarterly earnings results on Wednesday, July 23rd. The restaurant operator reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.01. The company had revenue of $3.06 billion during the quarter, compared to analysts’ expectations of $3.11 billion. Chipotle Mexican Grill had a return on equity of 43.50% and a net margin of 13.32%. The business’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.34 earnings per share. On average, sell-side analysts forecast that Chipotle Mexican Grill will post 1.29 earnings per share for the current fiscal year.

Insider Activity at Chipotle Mexican Grill

In related news, insider Roger E. Theodoredis sold 113,875 shares of the business’s stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $49.70, for a total value of $5,659,587.50. Following the sale, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.81% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in shares of Chipotle Mexican Grill by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 122,463,327 shares of the restaurant operator’s stock worth $6,148,884,000 after purchasing an additional 1,597,287 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in Chipotle Mexican Grill by 7.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 56,827,332 shares of the restaurant operator’s stock valued at $2,853,302,000 after buying an additional 4,027,016 shares in the last quarter. Alliancebernstein L.P. boosted its position in Chipotle Mexican Grill by 8.0% in the first quarter. Alliancebernstein L.P. now owns 32,505,318 shares of the restaurant operator’s stock valued at $1,632,092,000 after buying an additional 2,404,798 shares in the last quarter. Geode Capital Management LLC grew its stake in Chipotle Mexican Grill by 1.4% during the fourth quarter. Geode Capital Management LLC now owns 28,476,031 shares of the restaurant operator’s stock worth $1,712,238,000 after buying an additional 395,053 shares during the last quarter. Finally, American Century Companies Inc. increased its holdings in shares of Chipotle Mexican Grill by 2.1% during the first quarter. American Century Companies Inc. now owns 20,662,628 shares of the restaurant operator’s stock worth $1,037,471,000 after buying an additional 425,648 shares in the last quarter. 91.31% of the stock is owned by 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.