Robert W. Baird Lowers Chipotle Mexican Grill (NYSE:CMG) Price Target to $59.00

Chipotle Mexican Grill (NYSE:CMG - Free Report) had its price objective reduced by Robert W. Baird from $62.00 to $59.00 in a research note published on Thursday morning,Benzinga reports. They currently have an outperform rating on the restaurant operator's stock.

Several other equities analysts also recently weighed in on CMG. Guggenheim set a $47.00 target price on Chipotle Mexican Grill in a research report on Friday, April 25th. JPMorgan Chase & Co. dropped their price objective on Chipotle Mexican Grill from $58.00 to $54.00 and set a "neutral" rating for the company in a report on Thursday, May 29th. Stephens restated an "equal weight" rating and set a $49.00 price objective on shares of Chipotle Mexican Grill in a report on Monday, June 9th. Wells Fargo & Company boosted their price objective on Chipotle Mexican Grill from $55.00 to $65.00 and gave the company an "overweight" rating in a report on Thursday, July 17th. Finally, Barclays upped their target price on Chipotle Mexican Grill from $54.00 to $55.00 and gave the stock an "equal weight" rating in a report on Thursday, July 17th. Nine research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Chipotle Mexican Grill currently has a consensus rating of "Moderate Buy" and an average price target of $60.93.

Chipotle Mexican Grill Stock Performance

NYSE:CMG traded up $1.01 during trading hours on Thursday, reaching $46.75. The stock had a trading volume of 33,787,342 shares, compared to its average volume of 15,530,194. Chipotle Mexican Grill has a 52 week low of $44.46 and a 52 week high of $66.74. The company has a 50 day moving average price of $52.75 and a two-hundred day moving average price of $52.62. The stock has a market capitalization of $62.98 billion, a PE ratio of 41.74, a PEG ratio of 2.30 and a beta of 1.08.

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) last released its earnings results on Wednesday, July 23rd. The restaurant operator reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.01. The firm had revenue of $3.06 billion for the quarter, compared to the consensus estimate of $3.11 billion. Chipotle Mexican Grill had a return on equity of 43.50% and a net margin of 13.32%. The company's revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.34 EPS. Equities research analysts predict that Chipotle Mexican Grill will post 1.29 EPS for the current year.

Insider Buying and Selling at Chipotle Mexican Grill

In other news, insider Roger E. Theodoredis sold 113,875 shares of the stock in a transaction dated Monday, June 2nd. The stock was 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 represents a 50.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.81% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Community Bank N.A. increased its holdings in shares of Chipotle Mexican Grill by 18.1% in the second quarter. Community Bank N.A. now owns 21,640 shares of the restaurant operator's stock valued at $1,215,000 after purchasing an additional 3,320 shares during the period. NorthRock Partners LLC increased its holdings in shares of Chipotle Mexican Grill by 37.5% in the second quarter. NorthRock Partners LLC now owns 17,952 shares of the restaurant operator's stock valued at $1,008,000 after purchasing an additional 4,894 shares during the period. Sequoia Financial Advisors LLC increased its holdings in shares of Chipotle Mexican Grill by 35.2% in the second quarter. Sequoia Financial Advisors LLC now owns 40,801 shares of the restaurant operator's stock valued at $2,291,000 after purchasing an additional 10,620 shares during the period. Montrusco Bolton Investments Inc. increased its holdings in shares of Chipotle Mexican Grill by 5.5% in the second quarter. Montrusco Bolton Investments Inc. now owns 5,116,087 shares of the restaurant operator's stock valued at $279,343,000 after purchasing an additional 267,097 shares during the period. Finally, Cypress Capital Group purchased a new stake in shares of Chipotle Mexican Grill in the second quarter worth about $264,000. 91.31% of the stock is owned by institutional investors and hedge funds.

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.