KeyCorp Forecasts Strong Price Appreciation for Chipotle Mexican Grill (NYSE:CMG) Stock

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) had its target price boosted by stock analysts at KeyCorp from $58.00 to $60.00 in a report issued on Tuesday,Benzinga reports. The firm currently has an "overweight" rating on the restaurant operator's stock. KeyCorp's price objective would indicate a potential upside of 11.12% from the company's previous close.

CMG has been the subject of a number of other research reports. Stifel Nicolaus cut their target price on shares of Chipotle Mexican Grill from $68.00 to $65.00 and set a "buy" rating for the company in a research report on Wednesday, March 19th. UBS Group cut their price objective on shares of Chipotle Mexican Grill from $65.00 to $60.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. Piper Sandler cut 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 report on Thursday, April 24th. Redburn Atlantic assumed coverage on shares of Chipotle Mexican Grill in a research report on Tuesday, June 10th. They issued a "neutral" rating and a $55.00 price target for the company. Finally, TD Securities reissued a "buy" rating and issued a $57.00 price target on shares of Chipotle Mexican Grill in a research report on Wednesday, June 18th. Ten investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Chipotle Mexican Grill has an average rating of "Moderate Buy" and a consensus target price of $61.28.

Chipotle Mexican Grill Trading Down 1.5%

Chipotle Mexican Grill stock traded down $0.83 on Tuesday, reaching $53.99. 8,713,923 shares of the stock were exchanged, compared to its average volume of 12,648,813. The stock has a market cap of $72.75 billion, a PE ratio of 47.78, a PEG ratio of 2.72 and a beta of 1.08. Chipotle Mexican Grill has a twelve month low of $44.46 and a twelve month high of $66.74. The firm has a fifty day moving average price of $52.68 and a two-hundred day moving average price of $53.02.

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) last released its earnings results on Wednesday, April 23rd. The restaurant operator reported $0.29 earnings per share for the quarter, topping analysts' consensus estimates of $0.28 by $0.01. The firm had revenue of $2.88 billion during the quarter, compared to analyst estimates of $2.98 billion. Chipotle Mexican Grill had a net margin of 13.59% and a return on equity of 43.29%. The business's revenue was up 6.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $13.37 EPS. Equities analysts anticipate that Chipotle Mexican Grill will post 1.29 EPS for the current fiscal year.

Insider Transactions at Chipotle Mexican Grill

In other Chipotle Mexican Grill news, insider Roger E. Theodoredis sold 113,875 shares of the firm'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 of the company's stock, valued at approximately $5,457,805.50. This trade represents a 50.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.02% of the company's stock.

Institutional Investors Weigh In On Chipotle Mexican Grill

Several hedge funds have recently bought and sold shares of CMG. Revolve Wealth Partners LLC raised its holdings in shares of Chipotle Mexican Grill by 4.7% during the fourth quarter. Revolve Wealth Partners LLC now owns 4,804 shares of the restaurant operator's stock worth $290,000 after acquiring an additional 214 shares during the period. Bank Pictet & Cie Europe AG raised its holdings in shares of Chipotle Mexican Grill by 22.5% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 1,518,593 shares of the restaurant operator's stock worth $91,571,000 after acquiring an additional 279,267 shares during the period. Proficio Capital Partners LLC raised its holdings in shares of Chipotle Mexican Grill by 100.5% during the fourth quarter. Proficio Capital Partners LLC now owns 6,998 shares of the restaurant operator's stock worth $422,000 after acquiring an additional 3,507 shares during the period. Envestnet Portfolio Solutions Inc. raised its holdings in shares of Chipotle Mexican Grill by 13.3% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 105,595 shares of the restaurant operator's stock worth $6,367,000 after acquiring an additional 12,416 shares during the period. Finally, GWN Securities Inc. acquired a new stake in shares of Chipotle Mexican Grill during the fourth quarter worth $292,000. 91.31% of the stock is currently owned by institutional investors and hedge funds.

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.