Barclays Increases Chipotle Mexican Grill (NYSE:CMG) Price Target to $60.00

Chipotle Mexican Grill (NYSE:CMG) had its price target increased by Barclays from $55.00 to $60.00 in a research report sent to investors on Wednesday morning, Benzinga reports. Barclays currently has an equal weight rating on the restaurant operator’s stock.

A number of other equities analysts also recently issued reports on CMG. KeyCorp cut their target price on Chipotle Mexican Grill from $68.00 to $66.00 and set an “overweight” rating for the company in a research note on Thursday, July 25th. Guggenheim boosted their target price on shares of Chipotle Mexican Grill from $54.50 to $55.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th. Robert W. Baird increased their price target on shares of Chipotle Mexican Grill from $62.00 to $70.00 and gave the company an “outperform” rating in a report on Wednesday. Citigroup upped their target price on shares of Chipotle Mexican Grill from $69.00 to $71.00 and gave the stock a “buy” rating in a research report on Wednesday, October 2nd. Finally, Piper Sandler lifted their price target on shares of Chipotle Mexican Grill from $56.00 to $59.00 and gave the company a “neutral” rating in a research report on Friday, October 11th. Ten investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat, Chipotle Mexican Grill has a consensus rating of “Moderate Buy” and an average price target of $64.47.

Chipotle Mexican Grill Price Performance

Shares of NYSE CMG opened at $58.59 on Wednesday. The stock has a fifty day moving average price of $57.28 and a 200 day moving average price of $81.30. Chipotle Mexican Grill has a 1-year low of $39.92 and a 1-year high of $69.26. The company has a market cap of $80.24 billion, a PE ratio of 54.76, a P/E/G ratio of 2.41 and a beta of 1.26.

Chipotle Mexican Grill (NYSE:CMG) last released its earnings results on Tuesday, October 29th. The restaurant operator reported $0.27 EPS for the quarter, topping the consensus estimate of $0.25 by $0.02. Chipotle Mexican Grill had a net margin of 13.51% and a return on equity of 43.20%. The company had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $2.82 billion. During the same quarter last year, the business earned $0.23 EPS. The business’s revenue was up 13.0% on a year-over-year basis. Analysts anticipate that Chipotle Mexican Grill will post 1.1 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Chipotle Mexican Grill

A number of institutional investors have recently added to or reduced their stakes in CMG. American Century Companies Inc. lifted its stake in shares of Chipotle Mexican Grill by 4,732.3% in the 2nd quarter. American Century Companies Inc. now owns 20,177,309 shares of the restaurant operator’s stock valued at $1,264,109,000 after purchasing an additional 19,759,754 shares in the last quarter. Legal & General Group Plc raised its holdings in 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 buying an additional 10,729,706 shares during the period. Massachusetts Financial Services Co. MA lifted its position in Chipotle Mexican Grill by 5,930.8% during 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 buying an additional 10,139,174 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Chipotle Mexican Grill by 4,816.1% during 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 buying an additional 8,186,198 shares in the last quarter. Finally, Marshall Wace LLP grew its stake in Chipotle Mexican Grill by 76,617.6% during the second quarter. Marshall Wace LLP now owns 5,904,952 shares of the restaurant operator’s stock worth $369,945,000 after buying an additional 5,897,255 shares during the period. 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.