KeyCorp Issues Pessimistic Forecast for Chipotle Mexican Grill (NYSE:CMG) Stock Price

Chipotle Mexican Grill (NYSE:CMG - Free Report) had its price objective decreased by KeyCorp from $60.00 to $58.00 in a research note issued to investors on Thursday,Benzinga reports. KeyCorp currently has an overweight rating on the restaurant operator's stock.

A number of other equities analysts also recently weighed in on the stock. TD Securities cut their price target on shares of Chipotle Mexican Grill from $60.00 to $57.00 and set a "buy" rating on the stock in a report on Thursday. JPMorgan Chase & Co. decreased their price target on shares of Chipotle Mexican Grill from $64.00 to $58.00 and set a "neutral" rating on the stock in a report on Thursday, March 20th. Morgan Stanley upgraded Chipotle Mexican Grill from an "equal weight" rating to an "overweight" rating and increased their price objective for the company from $65.00 to $70.00 in a research report on Monday, March 3rd. Truist Financial dropped their target price on Chipotle Mexican Grill from $74.00 to $61.00 and set a "buy" rating for the company in a research report on Tuesday, April 22nd. Finally, Piper Sandler reduced their price target on shares of Chipotle Mexican Grill from $60.00 to $59.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 5th. Nine equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $61.78.

Chipotle Mexican Grill Price Performance

Shares of CMG traded down $0.99 during trading hours on Thursday, hitting $50.79. The stock had a trading volume of 9,778,134 shares, compared to its average volume of 13,457,267. The firm has a market capitalization of $68.84 billion, a P/E ratio of 45.86, a price-to-earnings-growth ratio of 2.04 and a beta of 1.27. Chipotle Mexican Grill has a 1-year low of $44.46 and a 1-year high of $69.26. The firm has a 50 day simple moving average of $50.11 and a 200-day simple moving average of $56.26.

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The restaurant operator reported $0.29 EPS for the quarter, topping the consensus estimate of $0.28 by $0.01. Chipotle Mexican Grill had a return on equity of 42.92% and a net margin of 13.56%. The firm had revenue of $2.88 billion during the quarter, compared to the consensus estimate of $2.98 billion. During the same period in the prior year, the business posted $13.37 earnings per share. The company's quarterly revenue was up 6.4% compared to the same quarter last year. Equities analysts predict that Chipotle Mexican Grill will post 1.29 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CMG. Norges Bank purchased a new stake in shares of Chipotle Mexican Grill during the 4th quarter valued at about $1,093,345,000. Alphinity Investment Management Pty Ltd purchased a new stake in shares of Chipotle Mexican Grill in the fourth quarter worth $692,701,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its stake in shares of Chipotle Mexican Grill by 4,138,574.1% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 8,318,735 shares of the restaurant operator's stock valued at $501,620,000 after buying an additional 8,318,534 shares in the last quarter. Alliancebernstein L.P. boosted its stake in shares of Chipotle Mexican Grill by 29.5% in the fourth quarter. Alliancebernstein L.P. now owns 30,100,520 shares of the restaurant operator's stock worth $1,815,061,000 after acquiring an additional 6,853,470 shares during the period. Finally, Raymond James Financial Inc. bought a new position in shares of Chipotle Mexican Grill in the fourth quarter worth about $315,220,000. 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.