Chipotle Mexican Grill (NYSE:CMG) Given New $71.00 Price Target at Truist Financial

Chipotle Mexican Grill (NYSE:CMG) had its price target lifted by Truist Financial from $69.00 to $71.00 in a research report report published on Tuesday, Benzinga reports. The brokerage currently has a buy rating on the restaurant operator’s stock.

A number of other equities analysts have also issued reports on CMG. Raymond James reduced their price target on shares of Chipotle Mexican Grill from $70.00 to $62.50 and set an “outperform” rating for the company in a research report on Thursday, July 25th. TD Cowen reaffirmed a “buy” rating and set a $65.00 price target on shares of Chipotle Mexican Grill in a research report on Thursday, September 12th. KeyCorp decreased their price objective on Chipotle Mexican Grill from $68.00 to $66.00 and set an “overweight” rating for the company in a report on Thursday, July 25th. The Goldman Sachs Group dropped their target price on Chipotle Mexican Grill from $74.60 to $67.00 and set a “buy” rating on the stock in a report on Thursday, July 25th. Finally, Citigroup boosted their price target on Chipotle Mexican Grill from $69.00 to $71.00 and gave the company a “buy” rating in a report on Wednesday, October 2nd. Ten investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Chipotle Mexican Grill presently has a consensus rating of “Moderate Buy” and an average target price of $63.03.

Chipotle Mexican Grill Stock Up 0.9 %

CMG opened at $59.39 on Tuesday. The company has a market cap of $81.56 billion, a P/E ratio of 63.18, a price-to-earnings-growth ratio of 2.41 and a beta of 1.25. The firm’s 50-day moving average price is $56.13 and its 200-day moving average price is $81.12. Chipotle Mexican Grill has a 52-week low of $35.97 and a 52-week high of $69.26.

Chipotle Mexican Grill (NYSE:CMG) last issued its quarterly earnings results on Wednesday, July 24th. The restaurant operator reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.02. Chipotle Mexican Grill had a return on equity of 44.01% and a net margin of 13.23%. The company had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $2.94 billion. During the same quarter in the previous year, the firm posted $12.65 EPS. The firm’s revenue was up 18.2% compared to the same quarter last year. On average, research analysts anticipate that Chipotle Mexican Grill will post 1.08 EPS for the current fiscal year.

Insider Activity at Chipotle Mexican Grill

In other news, insider Curtis E. Garner sold 17,394 shares of the stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $54.68, for a total value of $951,103.92. Following the completion of the sale, the insider now directly owns 358,300 shares in the company, valued at $19,591,844. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, insider Curtis E. Garner sold 17,394 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $54.68, for a total value of $951,103.92. Following the completion of the sale, the insider now directly owns 358,300 shares in the company, valued at $19,591,844. This represents a 0.00 % 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 link. Also, insider Curtis E. Garner sold 15,750 shares of the stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $55.02, for a total value of $866,565.00. Following the completion of the sale, the insider now directly owns 473,514 shares of the company’s stock, valued at approximately $26,052,740.28. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 50,684 shares of company stock valued at $2,817,127. 1.02% of the stock is owned by insiders.

Institutional Investors Weigh In On Chipotle Mexican Grill

A number of hedge funds have recently modified their holdings of the company. Resonant Capital Advisors LLC grew its position in Chipotle Mexican Grill by 4.9% in the third quarter. Resonant Capital Advisors LLC now owns 4,983 shares of the restaurant operator’s stock worth $287,000 after acquiring an additional 233 shares during the period. Verde Capital Management lifted its stake in Chipotle Mexican Grill by 9.5% during the 3rd quarter. Verde Capital Management now owns 25,586 shares of the restaurant operator’s stock worth $1,474,000 after acquiring an additional 2,216 shares in the last quarter. Commonwealth Equity Services LLC boosted its holdings in Chipotle Mexican Grill by 4.3% during the 3rd quarter. Commonwealth Equity Services LLC now owns 653,654 shares of the restaurant operator’s stock valued at $37,664,000 after acquiring an additional 27,152 shares during the period. Raymond James & Associates boosted its holdings in Chipotle Mexican Grill by 94.3% during the 3rd quarter. Raymond James & Associates now owns 2,969,776 shares of the restaurant operator’s stock valued at $171,118,000 after acquiring an additional 1,441,172 shares during the period. Finally, Capital Investment Advisors LLC grew its position in Chipotle Mexican Grill by 24.2% in the 3rd quarter. Capital Investment Advisors LLC now owns 10,143 shares of the restaurant operator’s stock valued at $584,000 after acquiring an additional 1,977 shares in the last quarter. Hedge funds and other institutional investors own 91.31% of the company’s stock.

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.