Chipotle Mexican Grill (NYSE:CMG) Given New $58.00 Price Target at KeyCorp

Chipotle Mexican Grill (NYSE:CMG - Free Report) had its target price reduced by KeyCorp from $60.00 to $58.00 in a research report released on Thursday morning,Benzinga reports. They currently have an overweight rating on the restaurant operator's stock.

CMG has been the topic of a number of other reports. Truist Financial boosted their price target on shares of Chipotle Mexican Grill from $63.00 to $64.00 and gave the stock a "buy" rating in a report on Wednesday, July 9th. BMO Capital Markets raised shares of Chipotle Mexican Grill from a "market perform" rating to an "outperform" rating and boosted their price target for the stock from $56.00 to $65.00 in a report on Friday, July 18th. Argus downgraded shares of Chipotle Mexican Grill from a "buy" rating to a "hold" rating in a report on Monday, April 28th. Redburn Atlantic started coverage on shares of Chipotle Mexican Grill in a report on Tuesday, June 10th. They set a "neutral" rating and a $55.00 price objective on the stock. Finally, Morgan Stanley dropped their price objective on shares of Chipotle Mexican Grill from $67.00 to $65.00 and set an "overweight" rating on the stock in a report on Thursday, April 24th. Nine investment 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 stock has an average rating of "Moderate Buy" and a consensus price target of $60.93.

Chipotle Mexican Grill Stock Performance

CMG traded up $1.01 during mid-day trading on Thursday, reaching $46.75. 33,787,342 shares of the stock were exchanged, compared to its average volume of 15,530,194. The stock has a market capitalization of $62.98 billion, a PE ratio of 41.74, a price-to-earnings-growth ratio of 2.30 and a beta of 1.08. The company has a 50 day moving average price of $52.75 and a two-hundred day moving average price of $52.62. 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 quarterly earnings results on Wednesday, July 23rd. The restaurant operator reported $0.33 earnings per share for the quarter, topping analysts' consensus estimates of $0.32 by $0.01. The company 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 firm's quarterly revenue was up 3.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.34 EPS. Sell-side analysts expect that Chipotle Mexican Grill will post 1.29 EPS for the current fiscal year.

Insider Buying and Selling at Chipotle Mexican Grill

In related news, insider Roger E. Theodoredis sold 113,875 shares of the company's stock in a transaction that occurred 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 transaction, the insider directly owned 109,815 shares in the company, 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 is accessible through the SEC website. Company insiders own 0.81% of the company's stock.

Institutional Trading of Chipotle Mexican Grill

Hedge funds and other institutional investors have recently bought and sold shares of the company. Cloud Capital Management LLC purchased a new stake in Chipotle Mexican Grill in the first quarter worth approximately $25,000. Saudi Central Bank purchased a new stake in shares of Chipotle Mexican Grill during the first quarter valued at approximately $27,000. 1248 Management LLC purchased a new stake in shares of Chipotle Mexican Grill during the first quarter valued at approximately $27,000. Signature Resources Capital Management LLC purchased a new stake in shares of Chipotle Mexican Grill during the second quarter valued at approximately $28,000. Finally, HighMark Wealth Management LLC boosted its stake in shares of Chipotle Mexican Grill by 173.4% during the first quarter. HighMark Wealth Management LLC now owns 585 shares of the restaurant operator's stock valued at $29,000 after purchasing an additional 371 shares during the period. Hedge funds and other institutional investors own 91.31% of the company's stock.

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.