TD Cowen Has Lowered Expectations for Chipotle Mexican Grill (NYSE:CMG) Stock Price

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) had its target price cut by equities researchers at TD Cowen from $61.00 to $58.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has a "buy" rating on the restaurant operator's stock. TD Cowen's price target points to a potential upside of 24.08% from the company's previous close.

Several other analysts have also recently commented on the stock. Stephens reiterated an "equal weight" rating and issued a $60.00 price objective on shares of Chipotle Mexican Grill in a research note on Thursday. Melius initiated coverage on shares of Chipotle Mexican Grill in a research note on Monday, July 14th. They issued a "hold" rating and a $60.00 price objective for the company. Redburn Atlantic initiated coverage on shares of Chipotle Mexican Grill in a research note on Tuesday, June 10th. They issued a "neutral" rating and a $55.00 price objective for the company. Piper Sandler reduced their price objective on shares of Chipotle Mexican Grill from $59.00 to $52.00 and set a "neutral" rating for the company in a research note on Thursday, April 24th. Finally, TD Securities restated a "buy" rating and set a $57.00 target price on shares of Chipotle Mexican Grill in a research report on Wednesday, June 18th. Nine analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Chipotle Mexican Grill has an average rating of "Moderate Buy" and a consensus price target of $60.71.

Chipotle Mexican Grill Trading Up 2.2%

Shares of NYSE:CMG traded up $1.01 during midday trading on Wednesday, hitting $46.75. The stock had a trading volume of 33,787,342 shares, compared to its average volume of 15,530,194. The company has a market capitalization of $62.98 billion, a PE ratio of 41.74, a P/E/G ratio of 2.35 and a beta of 1.08. The stock has a 50 day moving average price of $52.75 and a two-hundred day moving average price of $52.58. Chipotle Mexican Grill has a 1 year low of $44.46 and a 1 year high of $66.74.

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The restaurant operator reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.01. The business had revenue of $3.06 billion for the quarter, compared to the consensus estimate of $3.11 billion. Chipotle Mexican Grill had a net margin of 13.32% and a return on equity of 43.50%. The business's quarterly revenue was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.34 earnings per share. As a group, equities analysts expect that Chipotle Mexican Grill will post 1.29 EPS for the current year.

Insiders Place Their Bets

In related news, insider Roger E. Theodoredis sold 113,875 shares of the company's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $49.70, for a total transaction of $5,659,587.50. Following the completion of the sale, the insider directly owned 109,815 shares of the company's stock, valued at approximately $5,457,805.50. This represents a 50.91% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.81% of the company's stock.

Institutional Trading of Chipotle Mexican Grill

A number of institutional investors have recently added to or reduced their stakes in the business. Revolve Wealth Partners LLC boosted its stake in shares of Chipotle Mexican Grill by 4.7% in the fourth quarter. Revolve Wealth Partners LLC now owns 4,804 shares of the restaurant operator's stock valued at $290,000 after purchasing an additional 214 shares during the period. Bank Pictet & Cie Europe AG boosted its stake in shares of Chipotle Mexican Grill by 22.5% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 1,518,593 shares of the restaurant operator's stock valued at $91,571,000 after purchasing an additional 279,267 shares during the period. LPL Financial LLC boosted its stake in shares of Chipotle Mexican Grill by 11.7% in the fourth quarter. LPL Financial LLC now owns 1,223,422 shares of the restaurant operator's stock valued at $73,772,000 after purchasing an additional 127,850 shares during the period. Zions Bancorporation N.A. boosted its stake in shares of Chipotle Mexican Grill by 21.1% in the fourth quarter. Zions Bancorporation N.A. now owns 6,260 shares of the restaurant operator's stock valued at $377,000 after purchasing an additional 1,092 shares during the period. Finally, Meiji Yasuda Asset Management Co Ltd. boosted its stake in shares of Chipotle Mexican Grill by 0.8% in the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 31,933 shares of the restaurant operator's stock valued at $1,926,000 after purchasing an additional 253 shares during the period. 91.31% of the stock is 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.