Stifel Nicolaus Lowers Chipotle Mexican Grill (NYSE:CMG) Price Target to $70.00

Chipotle Mexican Grill (NYSE:CMG) had its price objective reduced by research analysts at Stifel Nicolaus from $3,270.00 to $70.00 in a report issued on Tuesday, July 9th, Benzinga reports. The firm currently has a “buy” rating on the restaurant operator’s stock. Stifel Nicolaus’ price target points to a potential upside of 32.28% from the stock’s current price.

A number of other research firms also recently weighed in on CMG. Deutsche Bank Aktiengesellschaft boosted their target price on Chipotle Mexican Grill from $68.00 to $72.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. Truist Financial lifted their price objective on Chipotle Mexican Grill from $68.80 to $70.40 and gave the company a “buy” rating in a report on Wednesday, May 29th. Robert W. Baird lifted their price target on shares of Chipotle Mexican Grill from $70.00 to $74.00 and gave the company an “outperform” rating in a research note on Thursday, June 27th. TD Cowen reduced their target price on shares of Chipotle Mexican Grill from $3,600.00 to $72.00 and set a “buy” rating for the company in a research note on Wednesday, June 26th. Finally, JPMorgan Chase & Co. lifted their price target on Chipotle Mexican Grill from $55.00 to $60.00 and gave the company a “neutral” rating in a research note on Monday, June 3rd. Nine investment analysts have rated the stock with a hold rating and seventeen have given 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 target price of $64.90.

Chipotle Mexican Grill Stock Performance

Shares of NYSE:CMG traded down $0.64 during trading on Tuesday, hitting $52.92. 9,826,685 shares of the stock were exchanged, compared to its average volume of 13,820,297. The company has a market capitalization of $72.68 billion, a price-to-earnings ratio of 57.37, a price-to-earnings-growth ratio of 2.14 and a beta of 1.24. Chipotle Mexican Grill has a 1-year low of $35.37 and a 1-year high of $69.26. The company’s fifty day simple moving average is $126.34 and its 200-day simple moving average is $79.82.

Chipotle Mexican Grill (NYSE:CMG) last announced its earnings results on Wednesday, April 24th. The restaurant operator reported $0.27 EPS for the quarter, topping the consensus estimate of $0.23 by $0.04. The company had revenue of $2.70 billion for the quarter, compared to analysts’ expectations of $2.67 billion. Chipotle Mexican Grill had a return on equity of 43.74% and a net margin of 12.70%. On average, research analysts forecast that Chipotle Mexican Grill will post 1.1 earnings per share for the current fiscal year.

Insider Activity at Chipotle Mexican Grill

In related news, insider Roger E. Theodoredis sold 125,450 shares of the stock in a transaction on Friday, April 26th. The stock was sold at an average price of $63.29, for a total value of $7,939,579.96. Following the transaction, the insider now directly owns 54,250 shares in the company, valued at approximately $3,433,417.40. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Chipotle Mexican Grill news, insider Roger E. Theodoredis sold 125,450 shares of the business’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $63.29, for a total transaction of $7,939,579.96. Following the completion of the sale, the insider now directly owns 54,250 shares of the company’s stock, valued at approximately $3,433,417.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Scott Boatwright sold 55,000 shares of the business’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $63.80, for a total transaction of $3,509,176.00. Following the completion of the transaction, the chief operating officer now owns 120,600 shares in the company, valued at $7,694,665.92. The disclosure for this sale can be found here. Insiders sold 550,750 shares of company stock valued at $35,023,769 in the last three months. Corporate insiders own 1.02% of the company’s stock.

Institutional Investors Weigh In On Chipotle Mexican Grill

Several large investors have recently added to or reduced their stakes in the company. Mercer Global Advisors Inc. ADV raised its stake in shares of Chipotle Mexican Grill by 3.3% during the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 2,014 shares of the restaurant operator’s stock valued at $3,690,000 after purchasing an additional 65 shares during the period. Diversified Trust Co raised its position in Chipotle Mexican Grill by 3.3% during the third quarter. Diversified Trust Co now owns 503 shares of the restaurant operator’s stock valued at $921,000 after purchasing an additional 16 shares in the last quarter. Comerica Bank bought a new stake in Chipotle Mexican Grill during the third quarter worth about $14,287,000. Public Sector Pension Investment Board boosted its holdings in shares of Chipotle Mexican Grill by 11.8% in the 3rd quarter. Public Sector Pension Investment Board now owns 2,955 shares of the restaurant operator’s stock worth $5,413,000 after purchasing an additional 313 shares in the last quarter. Finally, American Century Companies Inc. boosted its holdings in shares of Chipotle Mexican Grill by 3.5% in the 3rd quarter. American Century Companies Inc. now owns 399,902 shares of the restaurant operator’s stock worth $732,552,000 after purchasing an additional 13,482 shares in the last quarter. Hedge funds and other institutional investors own 91.31% of the company’s stock.

About Chipotle Mexican Grill

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.