Chipotle Mexican Grill (NYSE:CMG) Price Target Raised to $49.00

Chipotle Mexican Grill (NYSE:CMG) had its price target increased by Citigroup from $48.00 to $49.00 in a report published on Wednesday,Benzinga reports. Citigroup currently has a buy rating on the restaurant operator’s stock.

Several other research firms have also recently commented on CMG. Mizuho lowered their target price on shares of Chipotle Mexican Grill from $38.00 to $37.00 and set a “neutral” rating on the stock in a research note on Wednesday. Zacks Research raised Chipotle Mexican Grill from a “strong sell” rating to a “hold” rating in a report on Monday, December 29th. Stifel Nicolaus cut their target price on Chipotle Mexican Grill from $50.00 to $45.00 and set a “buy” rating for the company in a research report on Wednesday. Truist Financial lifted their price target on Chipotle Mexican Grill from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Thursday, January 8th. Finally, Wells Fargo & Company cut their price objective on Chipotle Mexican Grill from $50.00 to $45.00 and set an “overweight” rating for the company in a report on Wednesday. Twenty-two analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $47.24.

Chipotle Mexican Grill Trading Up 2.5%

Shares of NYSE CMG opened at $39.42 on Wednesday. Chipotle Mexican Grill has a 12-month low of $29.75 and a 12-month high of $59.09. The company has a market cap of $51.34 billion, a PE ratio of 34.58, a P/E/G ratio of 2.47 and a beta of 0.99. The stock has a 50 day simple moving average of $37.79 and a 200-day simple moving average of $38.89.

Chipotle Mexican Grill (NYSE:CMG) last announced its quarterly earnings results on Tuesday, February 3rd. The restaurant operator reported $0.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.01. The company had revenue of $2.98 billion during the quarter, compared to analyst estimates of $2.96 billion. Chipotle Mexican Grill had a return on equity of 47.99% and a net margin of 12.88%.The firm’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.25 EPS. Sell-side analysts forecast that Chipotle Mexican Grill will post 1.29 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Capital World Investors increased its holdings in shares of Chipotle Mexican Grill by 122.7% in the 3rd quarter. Capital World Investors now owns 87,844,788 shares of the restaurant operator’s stock valued at $3,442,645,000 after purchasing an additional 48,398,628 shares during the period. Vanguard Group Inc. grew its position in Chipotle Mexican Grill by 14.8% during the fourth quarter. Vanguard Group Inc. now owns 144,588,220 shares of the restaurant operator’s stock valued at $5,349,764,000 after purchasing an additional 18,660,882 shares in the last quarter. Norges Bank acquired a new position in Chipotle Mexican Grill in the 2nd quarter valued at approximately $1,001,668,000. Capital International Investors lifted its position in Chipotle Mexican Grill by 42.4% in the 3rd quarter. Capital International Investors now owns 38,497,927 shares of the restaurant operator’s stock worth $1,509,043,000 after buying an additional 11,471,658 shares in the last quarter. Finally, Sustainable Growth Advisers LP acquired a new stake in shares of Chipotle Mexican Grill during the 2nd quarter valued at $597,031,000. 91.30% of the stock is owned by institutional investors and hedge funds.

Chipotle Mexican Grill Company Profile

Chipotle Mexican Grill is a fast-casual restaurant company known for its Mexican-inspired menu of burritos, bowls, tacos and salads. Founded in 1993 by Steve Ells, the chain emphasizes fresh, customizable meals made from a limited menu of core ingredients and a focus on ingredient quality. Chipotle operates primarily company-owned restaurants and offers dine-in, takeout, catering and delivery through its own digital platforms and third-party partners.

The company is headquartered in Newport Beach, California, and traces its roots to Denver, Colorado.