Chipotle Mexican Grill's (CMG) "Outperform" Rating Reiterated at Wedbush

Chipotle Mexican Grill (NYSE:CMG - Get Free Report)'s stock had its "outperform" rating reiterated by Wedbush in a report released on Wednesday,Benzinga reports. They currently have a $69.00 price target on the restaurant operator's stock. Wedbush's target price would suggest a potential upside of 22.79% from the stock's current price.

Several other analysts have also commented on the stock. Jefferies Financial Group raised their price target on shares of Chipotle Mexican Grill from $56.00 to $62.00 and gave the company a "hold" rating in a research report on Monday, December 16th. TD Cowen increased their price target on Chipotle Mexican Grill from $65.00 to $68.00 and gave the stock a "buy" rating in a research report on Wednesday, October 30th. Stephens reissued an "equal weight" rating and issued a $65.00 price target on shares of Chipotle Mexican Grill in a research note on Tuesday, November 12th. Evercore ISI raised their price target on shares of Chipotle Mexican Grill from $70.00 to $72.00 and gave the company an "outperform" rating in a research note on Thursday, December 5th. Finally, Piper Sandler increased their target price on Chipotle Mexican Grill from $59.00 to $60.00 and gave the company a "neutral" rating in a report on Wednesday, October 30th. Ten analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $66.81.

Chipotle Mexican Grill Stock Performance

Shares of CMG stock opened at $56.19 on Wednesday. The stock's 50-day simple moving average is $60.88 and its 200-day simple moving average is $57.80. The firm has a market capitalization of $76.57 billion, a PE ratio of 52.30, a P/E/G ratio of 1.94 and a beta of 1.27. Chipotle Mexican Grill has a fifty-two week low of $46.01 and a fifty-two week high of $69.26.

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The restaurant operator reported $0.27 EPS for the quarter, beating the consensus estimate of $0.25 by $0.02. The company had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.82 billion. Chipotle Mexican Grill had a net margin of 13.51% and a return on equity of 43.20%. The firm's revenue was up 13.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.23 earnings per share. Sell-side analysts forecast 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 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 completion of the transaction, the insider now owns 185,792 shares in the company, valued at approximately $12,078,337.92. This represents a 2.32 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 1.02% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Chipotle Mexican Grill

Several large investors have recently bought and sold shares of the stock. Geode Capital Management LLC lifted its holdings in shares of Chipotle Mexican Grill by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 28,080,978 shares of the restaurant operator's stock valued at $1,612,682,000 after purchasing an additional 438,007 shares during the last quarter. Franklin Resources Inc. increased its position in Chipotle Mexican Grill by 2.9% during the third quarter. Franklin Resources Inc. now owns 13,661,937 shares of the restaurant operator's stock worth $805,692,000 after buying an additional 381,873 shares during the period. Legal & General Group Plc lifted its stake 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 last quarter. Janus Henderson Group PLC boosted its holdings in shares of Chipotle Mexican Grill by 5.6% in the third quarter. Janus Henderson Group PLC now owns 9,830,644 shares of the restaurant operator's stock valued at $566,439,000 after acquiring an additional 518,521 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Chipotle Mexican Grill by 11.6% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,271,318 shares of the restaurant operator's stock worth $476,593,000 after acquiring an additional 858,704 shares during the last quarter. Institutional investors and hedge funds 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.

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