Chipotle Mexican Grill (NYSE:CMG) Given New $68.00 Price Target at TD Cowen

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) had its target price upped by equities research analysts at TD Cowen from $65.00 to $68.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a "buy" rating on the restaurant operator's stock. TD Cowen's target price would suggest a potential upside of 21.73% from the stock's current price.

Several other equities research analysts also recently weighed in on the company. Robert W. Baird increased their price target on Chipotle Mexican Grill from $62.00 to $70.00 and gave the stock an "outperform" rating in a report on Wednesday. Stifel Nicolaus reiterated a "buy" rating and issued a $70.00 price objective on shares of Chipotle Mexican Grill in a research report on Wednesday, August 14th. Piper Sandler lifted their price objective on Chipotle Mexican Grill from $59.00 to $60.00 and gave the stock a "neutral" rating in a report on Wednesday. Wells Fargo & Company boosted their price target on Chipotle Mexican Grill from $66.00 to $67.00 and gave the stock an "overweight" rating in a research report on Wednesday. Finally, Citigroup boosted their price target on Chipotle Mexican Grill from $69.00 to $71.00 and gave the stock a "buy" rating in a research report on Wednesday, October 2nd. Ten research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $64.07.

Chipotle Mexican Grill Trading Down 7.7 %

CMG traded down $4.63 on Wednesday, hitting $55.86. 21,238,212 shares of the company's stock were exchanged, compared to its average volume of 13,962,844. The firm has a 50-day moving average price of $57.10 and a 200-day moving average price of $81.50. The stock has a market cap of $76.50 billion, a price-to-earnings ratio of 54.85, a P/E/G ratio of 2.41 and a beta of 1.25. Chipotle Mexican Grill has a fifty-two week low of $38.01 and a fifty-two week high of $69.26.

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) last posted its earnings results on Tuesday, October 29th. The restaurant operator reported $0.27 EPS for the quarter, beating analysts' consensus estimates of $0.25 by $0.02. The company had revenue of $2.79 billion for the quarter, compared to analysts' expectations of $2.82 billion. Chipotle Mexican Grill had a net margin of 13.23% and a return on equity of 44.01%. Chipotle Mexican Grill's revenue for the quarter was up 13.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.23 earnings per share. On average, equities analysts predict that Chipotle Mexican Grill will post 1.08 EPS for the current year.

Insider Activity

In other news, insider Curtis E. Garner sold 17,394 shares of the firm's stock in a transaction dated 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 trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. In other Chipotle Mexican Grill news, insider Curtis E. Garner sold 17,394 shares of Chipotle Mexican Grill stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $54.68, for a total transaction of $951,103.92. Following the completion of the transaction, the insider now owns 358,300 shares in the company, valued at approximately $19,591,844. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robin S. Hickenlooper sold 1,790 shares of Chipotle Mexican Grill stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $56.38, for a total transaction of $100,920.20. Following the transaction, the director now directly owns 41,510 shares in the company, valued at approximately $2,340,333.80. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 50,684 shares of company stock worth $2,817,127 in the last three months. Company insiders own 1.02% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. American Century Companies Inc. raised its stake in Chipotle Mexican Grill by 4,732.3% in the second quarter. American Century Companies Inc. now owns 20,177,309 shares of the restaurant operator's stock worth $1,264,109,000 after buying an additional 19,759,754 shares in the last quarter. Legal & General Group Plc grew its position in Chipotle Mexican Grill by 5,209.5% in the 2nd quarter. Legal & General Group Plc now owns 10,935,669 shares of the restaurant operator's stock worth $685,128,000 after purchasing an additional 10,729,706 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in shares of Chipotle Mexican Grill by 5,930.8% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 10,310,132 shares of the restaurant operator's stock worth $645,930,000 after acquiring an additional 10,139,174 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Chipotle Mexican Grill by 4,816.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 8,356,173 shares of the restaurant operator's stock worth $523,514,000 after acquiring an additional 8,186,198 shares during the last quarter. Finally, Marshall Wace LLP boosted its stake in shares of Chipotle Mexican Grill by 76,617.6% during the 2nd quarter. Marshall Wace LLP now owns 5,904,952 shares of the restaurant operator's stock worth $369,945,000 after acquiring an additional 5,897,255 shares during the last quarter. 91.31% of the stock is currently owned by hedge funds and other institutional investors.

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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