Royal Bank of Canada Boosts Chipotle Mexican Grill (CMG) Price Target to $550.00

Chipotle Mexican Grill (NYSE:CMG) had its price objective increased by Royal Bank of Canada from $510.00 to $550.00 in a research note issued to investors on Thursday morning, Marketbeat.com reports. The firm currently has an outperform rating on the restaurant operator’s stock.

A number of other equities analysts also recently commented on CMG. UBS Group downgraded shares of Chipotle Mexican Grill from a market perform rating to an underperform rating in a research note on Monday, October 1st. Oppenheimer downgraded shares of Chipotle Mexican Grill from a market perform rating to an underperform rating and set a $400.00 target price on the stock. in a research note on Monday, October 1st. They noted that the move was a valuation call. CIBC restated an underperform rating on shares of Chipotle Mexican Grill in a research note on Monday, October 1st. KeyCorp began coverage on shares of Chipotle Mexican Grill in a research note on Wednesday, October 3rd. They issued an overweight rating and a $500.00 target price on the stock. Finally, Wells Fargo & Co dropped their price objective on shares of Chipotle Mexican Grill from $418.00 to $415.00 and set a market perform rating on the stock in a research note on Tuesday, October 16th. Ten research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and fifteen have given a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus target price of $435.91.

CMG stock traded down $2.67 during mid-day trading on Thursday, reaching $506.95. The company had a trading volume of 785,191 shares, compared to its average volume of 826,624. The company has a market capitalization of $13.85 billion, a P/E ratio of 76.81, a P/E/G ratio of 2.34 and a beta of 0.33. Chipotle Mexican Grill has a 12 month low of $247.51 and a 12 month high of $530.68.



Chipotle Mexican Grill (NYSE:CMG) last issued its earnings results on Thursday, October 25th. The restaurant operator reported $2.16 EPS for the quarter, topping the Zacks’ consensus estimate of $2.00 by $0.16. The business had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.23 billion. Chipotle Mexican Grill had a net margin of 3.96% and a return on equity of 17.14%. As a group, analysts expect that Chipotle Mexican Grill will post 8.46 earnings per share for the current fiscal year.

In other Chipotle Mexican Grill news, Director Pershing Square Capital Manage sold 118,307 shares of the firm’s stock in a transaction that occurred on Tuesday, November 6th. The shares were sold at an average price of $472.05, for a total value of $55,846,819.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 2.19% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently made changes to their positions in the business. Korea Investment CORP boosted its stake in Chipotle Mexican Grill by 45.4% in the third quarter. Korea Investment CORP now owns 391 shares of the restaurant operator’s stock valued at $178,000 after acquiring an additional 122 shares in the last quarter. First Hawaiian Bank purchased a new position in shares of Chipotle Mexican Grill in the third quarter worth $202,000. Magellan Asset Management Ltd raised its holdings in shares of Chipotle Mexican Grill by 710.5% in the third quarter. Magellan Asset Management Ltd now owns 462 shares of the restaurant operator’s stock worth $210,000 after buying an additional 405 shares during the last quarter. Global Retirement Partners LLC raised its holdings in shares of Chipotle Mexican Grill by 348.1% in the third quarter. Global Retirement Partners LLC now owns 484 shares of the restaurant operator’s stock worth $220,000 after buying an additional 376 shares during the last quarter. Finally, QUANTRES ASSET MANAGEMENT Ltd purchased a new position in shares of Chipotle Mexican Grill in the third quarter worth $227,000. Institutional investors own 91.25% of the company’s stock.

About Chipotle Mexican Grill

Chipotle Mexican Grill, Inc, together with its subsidiaries, operates Chipotle Mexican Grill restaurants. As of September 30, 2018, it operated 2,424 Chipotle restaurants in the United States, as well as 37 international Chipotle restaurants. The company was founded in 1993 and is headquartered in Newport Beach, California.

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