Chipotle Mexican Grill (NYSE:CMG) Earns Outperform Rating from Oppenheimer

Oppenheimer restated their outperform rating on shares of Chipotle Mexican Grill (NYSE:CMG) in a report released on Monday, Benzinga reports. The brokerage currently has a $65.00 price target on the restaurant operator’s stock.

Several other research firms have also issued reports on CMG. Loop Capital cut their target price on Chipotle Mexican Grill from $58.00 to $53.00 and set a hold rating on the stock in a research note on Thursday, July 25th. StockNews.com cut shares of Chipotle Mexican Grill from a buy rating to a hold rating in a research report on Thursday, July 4th. JPMorgan Chase & Co. lifted their price target on shares of Chipotle Mexican Grill from $55.00 to $60.00 and gave the stock a neutral rating in a report on Monday, June 3rd. Stephens reiterated an equal weight rating and set a $61.00 price objective on shares of Chipotle Mexican Grill in a report on Tuesday, August 13th. Finally, Truist Financial restated a buy rating and set a $69.00 target price on shares of Chipotle Mexican Grill in a research note on Tuesday, August 13th. Ten research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average price target of $62.44.

Chipotle Mexican Grill Stock Performance

NYSE:CMG opened at $57.68 on Monday. The firm has a 50-day simple moving average of $54.82 and a 200-day simple moving average of $81.23. Chipotle Mexican Grill has a one year low of $35.37 and a one year high of $69.26. The firm has a market cap of $79.21 billion, a P/E ratio of 61.36, a P/E/G ratio of 2.43 and a beta of 1.25.

Chipotle Mexican Grill (NYSE:CMG) last posted its earnings results on Wednesday, July 24th. The restaurant operator reported $0.34 earnings per share 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 analyst estimates of $2.94 billion. During the same quarter in the prior year, the business earned $12.65 earnings per share. Chipotle Mexican Grill’s revenue was up 18.2% on a year-over-year basis. On average, research analysts predict that Chipotle Mexican Grill will post 1.08 EPS for the current fiscal year.

Insider Activity

In related news, Director Robin S. Hickenlooper sold 1,790 shares of the stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $56.38, for a total transaction of $100,920.20. Following the sale, the director now directly owns 41,510 shares of the company’s stock, valued at $2,340,333.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Robin S. Hickenlooper sold 1,790 shares of the company’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $56.38, for a total value of $100,920.20. Following the completion of the transaction, the director now owns 41,510 shares of the company’s stock, valued at approximately $2,340,333.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Curtis E. Garner sold 15,750 shares of the stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $55.02, for a total value of $866,565.00. Following the transaction, the insider now owns 473,514 shares in the company, valued at approximately $26,052,740.28. The disclosure for this sale can be found here. Insiders sold a total of 34,934 shares of company stock valued at $1,918,589 in the last three months. 1.02% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Chipotle Mexican Grill

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Central Pacific Bank Trust Division lifted its holdings in Chipotle Mexican Grill by 70.3% during the third quarter. Central Pacific Bank Trust Division now owns 15,750 shares of the restaurant operator’s stock valued at $908,000 after purchasing an additional 6,500 shares in the last quarter. Trust Co. of Toledo NA OH raised its position in shares of Chipotle Mexican Grill by 5.8% during the 3rd quarter. Trust Co. of Toledo NA OH now owns 18,351 shares of the restaurant operator’s stock worth $1,057,000 after purchasing an additional 1,001 shares during the last quarter. First Community Trust NA lifted its stake in Chipotle Mexican Grill by 60.0% in the 3rd quarter. First Community Trust NA now owns 8,000 shares of the restaurant operator’s stock valued at $461,000 after buying an additional 3,000 shares in the last quarter. M&R Capital Management Inc. boosted its holdings in Chipotle Mexican Grill by 1,474.2% in the 3rd quarter. M&R Capital Management Inc. now owns 7,871 shares of the restaurant operator’s stock worth $454,000 after buying an additional 7,371 shares during the last quarter. Finally, Appleton Partners Inc. MA increased its stake in Chipotle Mexican Grill by 2.8% during the 3rd quarter. Appleton Partners Inc. MA now owns 216,159 shares of the restaurant operator’s stock worth $12,455,000 after buying an additional 5,934 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.