Chipotle Mexican Grill (NYSE:CMG) Now Covered by Royal Bank of Canada

Stock analysts at Royal Bank of Canada assumed coverage on shares of Chipotle Mexican Grill (NYSE:CMG) in a report released on Friday. The brokerage set an “outperform” rating and a $70.00 price target on the restaurant operator’s stock. Royal Bank of Canada’s target price indicates a potential upside of 16.83% from the company’s previous close.

A number of other equities analysts also recently commented on CMG. Piper Sandler boosted their target price on shares of Chipotle Mexican Grill from $59.00 to $60.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Barclays increased their target price on shares of Chipotle Mexican Grill from $55.00 to $60.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Wedbush reaffirmed an “outperform” rating and issued a $69.00 price target on shares of Chipotle Mexican Grill in a report on Wednesday, October 30th. Stephens reaffirmed an “equal weight” rating and set a $65.00 price target on shares of Chipotle Mexican Grill in a research report on Tuesday. Finally, Raymond James dropped their target price on Chipotle Mexican Grill from $70.00 to $62.50 and set an “outperform” rating on the stock in a research note on Thursday, July 25th. Ten investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $65.27.

Chipotle Mexican Grill Price Performance

Shares of Chipotle Mexican Grill stock opened at $59.92 on Friday. Chipotle Mexican Grill has a 1 year low of $42.98 and a 1 year high of $69.26. The stock has a market cap of $81.64 billion, a price-to-earnings ratio of 55.77, a PEG ratio of 2.39 and a beta of 1.26. The firm’s 50-day moving average is $57.78 and its two-hundred day moving average is $81.24.

Chipotle Mexican Grill (NYSE:CMG) last issued its quarterly earnings data on Tuesday, October 29th. The restaurant operator reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.02. The company had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.82 billion. Chipotle Mexican Grill had a net margin of 13.51% and a return on equity of 43.20%. Chipotle Mexican Grill’s revenue for the quarter was up 13.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.23 earnings per share. On average, equities analysts expect that Chipotle Mexican Grill will post 1.11 earnings per share for the current year.

Insider Activity at Chipotle Mexican Grill

In other Chipotle Mexican Grill news, insider Curtis E. Garner sold 15,750 shares of the company’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $55.02, for a total transaction of $866,565.00. Following the completion of the transaction, the insider now directly owns 473,514 shares in the company, valued at approximately $26,052,740.28. This represents a 3.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Robin S. Hickenlooper sold 1,790 shares of Chipotle Mexican Grill stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $56.38, for a total transaction of $100,920.20. Following the completion of the sale, the director now owns 41,510 shares in the company, valued at approximately $2,340,333.80. This trade represents a 4.13 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 33,290 shares of company stock worth $1,866,023. 1.02% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Kingsview Wealth Management LLC increased its position in shares of Chipotle Mexican Grill by 41.2% during the first quarter. Kingsview Wealth Management LLC now owns 521 shares of the restaurant operator’s stock worth $1,514,000 after purchasing an additional 152 shares in the last quarter. Orion Portfolio Solutions LLC lifted its stake in shares of Chipotle Mexican Grill by 29.9% in the first quarter. Orion Portfolio Solutions LLC now owns 1,539 shares of the restaurant operator’s stock worth $4,474,000 after buying an additional 354 shares in the last quarter. Nwam LLC purchased a new stake in Chipotle Mexican Grill during the 1st quarter valued at about $220,000. M&G Plc purchased a new stake in Chipotle Mexican Grill during the 1st quarter valued at about $9,221,000. Finally, Intech Investment Management LLC raised its holdings in Chipotle Mexican Grill by 4.1% in the 1st quarter. Intech Investment Management LLC now owns 4,056 shares of the restaurant operator’s stock valued at $11,790,000 after acquiring an additional 158 shares during the last quarter. 91.31% of the stock is owned by hedge funds and other 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.