Chipotle Mexican Grill (NYSE:CMG) Receives "Outperform" Rating from Raymond James Financial

Chipotle Mexican Grill (NYSE:CMG - Get Free Report)'s stock had its "outperform" rating reaffirmed by investment analysts at Raymond James Financial in a research report issued on Thursday,Benzinga reports. They currently have a $60.00 price target on the restaurant operator's stock, down from their prior price target of $62.00. Raymond James Financial's price target would suggest a potential upside of 32.87% from the company's current price.

Several other research analysts have also commented on CMG. JPMorgan Chase & Co. dropped their price target on Chipotle Mexican Grill from $58.00 to $54.00 and set a "neutral" rating for the company in a research report on Thursday, May 29th. Redburn Atlantic began coverage on Chipotle Mexican Grill in a research report on Tuesday, June 10th. They set a "neutral" rating and a $55.00 target price for the company. 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. Robert W. Baird decreased their price target on shares of Chipotle Mexican Grill from $62.00 to $59.00 and set an "outperform" rating for the company in a research note on Thursday. Finally, Melius assumed coverage on shares of Chipotle Mexican Grill in a research note on Monday, July 14th. They set a "hold" rating and a $60.00 price target for the company. Nine research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $61.10.

Chipotle Mexican Grill Stock Down 14.4%

NYSE:CMG traded down $7.62 on Thursday, reaching $45.16. 58,971,795 shares of the company's stock traded hands, compared to its average volume of 13,162,972. The stock has a 50-day simple moving average of $52.98 and a 200-day simple moving average of $52.78. The firm has a market cap of $60.84 billion, a PE ratio of 39.98, a P/E/G ratio of 2.62 and a beta of 1.08. Chipotle Mexican Grill has a 12 month low of $44.46 and a 12 month high of $66.74.

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The restaurant operator reported $0.33 EPS for the quarter, beating analysts' consensus estimates of $0.32 by $0.01. The business had revenue of $3.06 billion for the quarter, compared to analysts' expectations of $3.11 billion. Chipotle Mexican Grill had a return on equity of 43.29% and a net margin of 13.59%. The business's quarterly revenue was up 3.0% on a year-over-year basis. During the same period last year, the firm earned $0.34 earnings per share. On average, equities analysts anticipate that Chipotle Mexican Grill will post 1.29 earnings per share for the current year.

Insider Buying and Selling

In other Chipotle Mexican Grill 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 value of $5,659,587.50. Following 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.81% of the company's stock.

Institutional Investors Weigh In On Chipotle Mexican Grill

Hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in shares of Chipotle Mexican Grill by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 122,463,327 shares of the restaurant operator's stock worth $6,148,884,000 after purchasing an additional 1,597,287 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Chipotle Mexican Grill by 7.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 56,827,332 shares of the restaurant operator's stock worth $2,853,302,000 after purchasing an additional 4,027,016 shares during the last quarter. Alliancebernstein L.P. raised its holdings in Chipotle Mexican Grill by 8.0% in the 1st quarter. Alliancebernstein L.P. now owns 32,505,318 shares of the restaurant operator's stock valued at $1,632,092,000 after acquiring an additional 2,404,798 shares during the last quarter. Geode Capital Management LLC raised its holdings in Chipotle Mexican Grill by 1.4% in the 4th quarter. Geode Capital Management LLC now owns 28,476,031 shares of the restaurant operator's stock valued at $1,712,238,000 after acquiring an additional 395,053 shares during the last quarter. Finally, American Century Companies Inc. raised its holdings in Chipotle Mexican Grill by 2.1% in the 1st quarter. American Century Companies Inc. now owns 20,662,628 shares of the restaurant operator's stock valued at $1,037,471,000 after acquiring an additional 425,648 shares during the last quarter. 91.31% of the stock is owned by hedge funds and other institutional investors.

Chipotle Mexican Grill Company Profile

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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