Chipotle Mexican Grill (NYSE:CMG) Price Target Raised to $36.00 at Mizuho

Key Points

• Mizuho raised its price target on Chipotle to $36.00 (from $34.00) while keeping a neutral rating, which implies roughly a 3.99% downside from the stock's prior close.
• Broader analyst sentiment remains more positive: MarketBeat data shows a consensus of “Moderate Buy” with an average price target of about $49.87, indicating most analysts are still materially more bullish than Mizuho.
• Chipotle recently reported Q results with $0.29 EPS (meeting estimates) and $3.0B revenue (slightly below expectations); the stock traded near $37.50, inside a 52‑week range of $29.75–$60.20 and a market cap around $49.6B.

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) had its target price raised by equities research analysts at Mizuho from $34.00 to $36.00 in a research report issued on Friday,Benzinga reports. The firm presently has a "neutral" rating on the restaurant operator's stock. Mizuho's target price would suggest a potential downside of 3.99% from the company's previous close.

CMG has been the subject of a number of other research reports. KeyCorp lowered their price objective on Chipotle Mexican Grill from $52.00 to $45.00 and set an "overweight" rating for the company in a research note on Thursday, October 30th. Weiss Ratings reiterated a "hold (c-)" rating on shares of Chipotle Mexican Grill in a research note on Monday. UBS Group set a $45.00 price target on shares of Chipotle Mexican Grill in a research report on Friday, October 31st. Barclays cut their price target on shares of Chipotle Mexican Grill from $43.00 to $38.00 and set an "equal weight" rating on the stock in a report on Thursday, October 30th. Finally, Wells Fargo & Company decreased their price objective on shares of Chipotle Mexican Grill from $55.00 to $45.00 and set an "overweight" rating for the company in a report on Thursday, October 30th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and twelve have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $49.87.

Chipotle Mexican Grill Price Performance

CMG traded up $0.50 during trading hours on Friday, reaching $37.50. 5,307,521 shares of the stock traded hands, compared to its average volume of 17,453,586. Chipotle Mexican Grill has a fifty-two week low of $29.75 and a fifty-two week high of $60.20. The company has a market cap of $49.58 billion, a price-to-earnings ratio of 33.19, a PEG ratio of 3.78 and a beta of 0.97. The firm's fifty day simple moving average is $34.45 and its two-hundred day simple moving average is $41.63.

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) last posted its quarterly earnings data on Wednesday, October 29th. The restaurant operator reported $0.29 earnings per share for the quarter, meeting analysts' consensus estimates of $0.29. The company had revenue of $3 billion during the quarter, compared to analysts' expectations of $3.06 billion. Chipotle Mexican Grill had a net margin of 13.04% and a return on equity of 45.39%. The firm's revenue for the quarter was up 7.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.27 EPS. On average, research analysts predict that Chipotle Mexican Grill will post 1.29 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of CMG. Vanguard Group Inc. raised its stake in Chipotle Mexican Grill by 2.0% during the 3rd quarter. Vanguard Group Inc. now owns 125,927,338 shares of the restaurant operator's stock valued at $4,935,092,000 after acquiring an additional 2,470,213 shares in the last quarter. Capital World Investors increased its holdings in shares of Chipotle Mexican Grill by 122.7% during the third quarter. Capital World Investors now owns 87,844,788 shares of the restaurant operator's stock valued at $3,442,645,000 after purchasing an additional 48,398,628 shares during the period. Capital International Investors increased its holdings in shares of Chipotle Mexican Grill by 42.4% during the third quarter. Capital International Investors now owns 38,497,927 shares of the restaurant operator's stock valued at $1,509,043,000 after purchasing an additional 11,471,658 shares during the period. Alliancebernstein L.P. raised its stake in shares of Chipotle Mexican Grill by 1.9% during the second quarter. Alliancebernstein L.P. now owns 33,111,508 shares of the restaurant operator's stock valued at $1,859,211,000 after purchasing an additional 606,190 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Chipotle Mexican Grill by 1.1% in the second quarter. Geode Capital Management LLC now owns 29,659,508 shares of the restaurant operator's stock worth $1,657,193,000 after purchasing an additional 325,926 shares during the period. 91.30% of the stock is owned by institutional investors and hedge funds.

About Chipotle Mexican Grill

Chipotle Mexican Grill is a fast-casual restaurant company known for its Mexican-inspired menu of burritos, bowls, tacos and salads. Founded in 1993 by Steve Ells, the chain emphasizes fresh, customizable meals made from a limited menu of core ingredients and a focus on ingredient quality. Chipotle operates primarily company-owned restaurants and offers dine-in, takeout, catering and delivery through its own digital platforms and third-party partners.

The company is headquartered in Newport Beach, California, and traces its roots to Denver, Colorado.

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