Raymond James Issues Positive Forecast for Chipotle Mexican Grill (NYSE:CMG) Stock Price

Chipotle Mexican Grill (NYSE:CMG) had its price target raised by investment analysts at Raymond James from $66.00 to $72.00 in a report issued on Monday,Benzinga reports. The brokerage presently has an “outperform” rating on the restaurant operator’s stock. Raymond James’ price objective suggests a potential upside of 10.60% from the stock’s previous close.

A number of other research analysts have also recently issued reports on CMG. Wedbush restated an “outperform” rating and set a $69.00 price objective on shares of Chipotle Mexican Grill in a report on Wednesday, October 30th. Robert W. Baird lifted their price target on shares of Chipotle Mexican Grill from $62.00 to $70.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Piper Sandler lifted their price target on shares of Chipotle Mexican Grill from $59.00 to $60.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Truist Financial lifted their price target on shares of Chipotle Mexican Grill from $72.00 to $74.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Finally, Wells Fargo & Company lifted their price target on shares of Chipotle Mexican Grill from $67.00 to $75.00 and gave the company an “overweight” rating in a research note on Thursday. Ten equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat, Chipotle Mexican Grill presently has a consensus rating of “Moderate Buy” and an average price target of $66.07.

Chipotle Mexican Grill Price Performance

Shares of NYSE:CMG opened at $65.10 on Monday. The stock has a market cap of $88.70 billion, a price-to-earnings ratio of 60.84, a P/E/G ratio of 2.64 and a beta of 1.27. The company has a 50 day moving average of $60.20 and a 200-day moving average of $81.19. Chipotle Mexican Grill has a one year low of $44.08 and a one year high of $69.26.

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

Insider Buying and Selling at Chipotle Mexican Grill

In other Chipotle Mexican Grill news, insider Laurie Schalow sold 4,404 shares of the company’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $65.01, for a total value of $286,304.04. Following the transaction, the insider now directly owns 185,792 shares in the company, valued at $12,078,337.92. The trade was a 2.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Curtis E. Garner sold 15,750 shares of the company’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $57.05, for a total transaction of $898,537.50. Following the completion of the transaction, the insider now owns 457,764 shares in the company, valued at approximately $26,115,436.20. This represents a 3.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.02% of the company’s stock.

Hedge Funds Weigh In On Chipotle Mexican Grill

Institutional investors and hedge funds have recently modified their holdings of the stock. American Century Companies Inc. grew its stake in shares of Chipotle Mexican Grill by 4,732.3% in the second quarter. American Century Companies Inc. now owns 20,177,309 shares of the restaurant operator’s stock valued at $1,264,109,000 after acquiring an additional 19,759,754 shares in the last quarter. Legal & General Group Plc grew its stake in shares of Chipotle Mexican Grill by 5,209.5% in the second quarter. Legal & General Group Plc now owns 10,935,669 shares of the restaurant operator’s stock valued at $685,128,000 after acquiring an additional 10,729,706 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of Chipotle Mexican Grill by 5,930.8% in the second quarter. Massachusetts Financial Services Co. MA now owns 10,310,132 shares of the restaurant operator’s stock valued at $645,930,000 after acquiring an additional 10,139,174 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Chipotle Mexican Grill by 4,816.1% in the second quarter. Bank of New York Mellon Corp now owns 8,356,173 shares of the restaurant operator’s stock valued at $523,514,000 after acquiring an additional 8,186,198 shares in the last quarter. Finally, Marshall Wace LLP grew its stake in shares of Chipotle Mexican Grill by 76,617.6% in the second quarter. Marshall Wace LLP now owns 5,904,952 shares of the restaurant operator’s stock valued at $369,945,000 after acquiring an additional 5,897,255 shares in the last quarter. 91.31% of the stock is currently owned by institutional investors and hedge funds.

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.