Chipotle Mexican Grill (CMG) Cut to “C” at TheStreet

TheStreet downgraded shares of Chipotle Mexican Grill (NYSE:CMG) from a b- rating to a c rating in a research report sent to investors on Thursday.

Other research analysts have also recently issued research reports about the stock. Zacks Investment Research raised shares of Chipotle Mexican Grill from a hold rating to a buy rating and set a $512.00 target price for the company in a report on Monday, July 16th. Canaccord Genuity raised their target price on shares of Chipotle Mexican Grill from $500.00 to $550.00 and gave the stock a buy rating in a report on Friday, July 27th. SunTrust Banks raised their target price on shares of Chipotle Mexican Grill to $490.00 and gave the stock a buy rating in a report on Friday, June 29th. ValuEngine raised shares of Chipotle Mexican Grill from a hold rating to a buy rating in a report on Tuesday, July 10th. Finally, Robert W. Baird reissued a buy rating and set a $535.00 target price on shares of Chipotle Mexican Grill in a report on Friday, July 27th. Nine analysts have rated the stock with a sell rating, fifteen have issued a hold rating and fifteen have issued a buy rating to the company’s stock. The stock has an average rating of Hold and an average price target of $433.16.

Shares of Chipotle Mexican Grill stock opened at $438.38 on Thursday. Chipotle Mexican Grill has a 1 year low of $247.51 and a 1 year high of $530.68. The firm has a market cap of $11.79 billion, a P/E ratio of 66.42, a price-to-earnings-growth ratio of 2.79 and a beta of 0.44.



Chipotle Mexican Grill (NYSE:CMG) last issued its earnings results on Thursday, October 25th. The restaurant operator reported $2.16 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.00 by $0.16. Chipotle Mexican Grill had a net margin of 3.96% and a return on equity of 17.34%. The firm had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.23 billion. As a group, analysts forecast that Chipotle Mexican Grill will post 8.52 EPS for the current year.

In other news, Director Pershing Square Capital Manage sold 823,357 shares of Chipotle Mexican Grill stock in a transaction dated Tuesday, August 28th. The shares were sold at an average price of $487.29, for a total value of $401,213,632.53. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 2.19% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. FMR LLC grew its position in shares of Chipotle Mexican Grill by 10.2% in the second quarter. FMR LLC now owns 1,620,408 shares of the restaurant operator’s stock valued at $698,995,000 after purchasing an additional 149,725 shares during the period. Jennison Associates LLC acquired a new stake in shares of Chipotle Mexican Grill in the second quarter valued at about $156,768,000. Bank of New York Mellon Corp grew its position in shares of Chipotle Mexican Grill by 15.8% in the second quarter. Bank of New York Mellon Corp now owns 336,486 shares of the restaurant operator’s stock valued at $145,149,000 after purchasing an additional 45,936 shares during the period. American Century Companies Inc. grew its position in shares of Chipotle Mexican Grill by 31.2% in the second quarter. American Century Companies Inc. now owns 243,913 shares of the restaurant operator’s stock valued at $105,217,000 after purchasing an additional 58,067 shares during the period. Finally, Renaissance Technologies LLC grew its position in shares of Chipotle Mexican Grill by 92.3% in the second quarter. Renaissance Technologies LLC now owns 223,100 shares of the restaurant operator’s stock valued at $96,239,000 after purchasing an additional 107,100 shares during the period. Institutional investors and hedge funds own 88.23% of the company’s stock.

About Chipotle Mexican Grill

Chipotle Mexican Grill, Inc, together with its subsidiaries, operates Chipotle Mexican Grill restaurants. As of December 31, 2017, it operated 2,363 Chipotle restaurants throughout the United States, as well as 37 international Chipotle restaurants; and 8 non-Chipotle restaurants. The company was founded in 1993 and is based in Denver, Colorado.

Further Reading: Understanding Compound Annual Growth Rate (CAGR)

Analyst Recommendations for Chipotle Mexican Grill (NYSE:CMG)

Receive News & Ratings for Chipotle Mexican Grill Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chipotle Mexican Grill and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply