Chipotle Mexican Grill (NYSE:CMG) Given New $69.00 Price Target at Raymond James

Chipotle Mexican Grill (NYSE:CMG) had its price objective cut by analysts at Raymond James from $72.00 to $69.00 in a report released on Tuesday,Benzinga reports. The firm currently has an “outperform” rating on the restaurant operator’s stock. Raymond James’ price objective points to a potential upside of 20.23% from the stock’s previous close.

A number of other research analysts have also weighed in on CMG. Evercore ISI lifted their price target on shares of Chipotle Mexican Grill from $70.00 to $72.00 and gave the company an “outperform” rating in a research note on Thursday, December 5th. Barclays increased their target price on Chipotle Mexican Grill from $60.00 to $63.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 7th. Royal Bank of Canada restated an “outperform” rating and issued a $75.00 price target on shares of Chipotle Mexican Grill in a report on Tuesday. Jefferies Financial Group lifted their target price on Chipotle Mexican Grill from $56.00 to $62.00 and gave the company a “hold” rating in a research report on Monday, December 16th. Finally, Stephens reissued an “equal weight” rating and set a $65.00 price target on shares of Chipotle Mexican Grill in a research report on Tuesday, November 12th. Ten equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $66.88.

Chipotle Mexican Grill Price Performance

Shares of CMG stock traded down $0.91 on Tuesday, reaching $57.39. 2,210,890 shares of the stock were exchanged, compared to its average volume of 9,311,269. The stock has a 50 day moving average price of $60.63 and a 200 day moving average price of $57.72. The stock has a market cap of $78.20 billion, a PE ratio of 53.42, a P/E/G ratio of 1.88 and a beta of 1.27. Chipotle Mexican Grill has a one year low of $46.29 and a one year high of $69.26.

Chipotle Mexican Grill (NYSE:CMG) last issued its earnings results on Tuesday, October 29th. The restaurant operator reported $0.27 EPS for the quarter, beating the consensus estimate of $0.25 by $0.02. The company had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $2.82 billion. Chipotle Mexican Grill had a net margin of 13.51% and a return on equity of 43.20%. The business’s revenue for the quarter was up 13.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.23 EPS. On average, research analysts expect that Chipotle Mexican Grill will post 1.11 earnings per share for the current fiscal year.

Insider Transactions at Chipotle Mexican Grill

In other news, insider Laurie Schalow sold 4,404 shares of the company’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $65.01, for a total transaction of $286,304.04. Following the sale, the insider now directly owns 185,792 shares in the company, valued at $12,078,337.92. This represents a 2.32 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 1.02% of the company’s stock.

Institutional Trading of Chipotle Mexican Grill

Several institutional investors and hedge funds have recently modified their holdings of the business. Assenagon Asset Management S.A. lifted its stake in Chipotle Mexican Grill by 1,087.9% in the third quarter. Assenagon Asset Management S.A. now owns 4,712,724 shares of the restaurant operator’s stock worth $271,547,000 after purchasing an additional 4,315,983 shares during the last quarter. Congress Asset Management Co. bought a new stake in shares of Chipotle Mexican Grill in the 3rd quarter valued at about $109,396,000. Thrivent Financial for Lutherans boosted its holdings in Chipotle Mexican Grill by 674.3% during the 3rd quarter. Thrivent Financial for Lutherans now owns 2,122,778 shares of the restaurant operator’s stock valued at $122,314,000 after acquiring an additional 1,848,625 shares during the period. Raymond James & Associates grew its position in Chipotle Mexican Grill by 94.3% during the 3rd quarter. Raymond James & Associates now owns 2,969,776 shares of the restaurant operator’s stock worth $171,118,000 after acquiring an additional 1,441,172 shares during the last quarter. Finally, International Assets Investment Management LLC increased its stake in Chipotle Mexican Grill by 5,188.9% in the 3rd quarter. International Assets Investment Management LLC now owns 1,421,140 shares of the restaurant operator’s stock worth $818,860,000 after purchasing an additional 1,394,270 shares during the period. Hedge funds and other institutional investors own 91.31% of the company’s stock.

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.