Chipotle Mexican Grill (NYSE:CMG) Receives “Neutral” Rating from Robert W. Baird

Chipotle Mexican Grill (NYSE:CMG)‘s stock had its “neutral” rating reaffirmed by research analysts at Robert W. Baird in a research note issued to investors on Monday,Benzinga reports. They presently have a $40.00 price target on the restaurant operator’s stock, down from their prior price target of $44.00. Robert W. Baird’s price objective would suggest a potential upside of 8.58% from the stock’s previous close.

CMG has been the subject of several other reports. Stephens reiterated a “positive” rating and issued a $40.00 price objective (up from $36.00) on shares of Chipotle Mexican Grill in a report on Thursday, July 30th. Mizuho boosted their target price on Chipotle Mexican Grill from $40.00 to $41.00 and gave the stock an “outperform” rating in a report on Monday, July 13th. TD Cowen reaffirmed a “buy” rating and set a $44.00 price target on shares of Chipotle Mexican Grill in a research note on Thursday, July 30th. Raymond James Financial reiterated an “outperform” rating and set a $42.50 price target on shares of Chipotle Mexican Grill in a research report on Thursday, July 30th. Finally, JPMorgan Chase & Co. raised Chipotle Mexican Grill from a “neutral” rating to an “overweight” rating and dropped their price objective for the stock from $38.00 to $35.00 in a research note on Friday, June 5th. Twenty-three investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $43.84.

Chipotle Mexican Grill Stock Down 0.2%

Shares of NYSE CMG opened at $36.84 on Monday. Chipotle Mexican Grill has a fifty-two week low of $28.03 and a fifty-two week high of $43.72. The firm’s 50-day simple moving average is $33.80 and its 200 day simple moving average is $33.96. The stock has a market cap of $46.62 billion, a P/E ratio of 33.80, a P/E/G ratio of 2.35 and a beta of 0.94.

Chipotle Mexican Grill (NYSE:CMG) last posted its quarterly earnings data on Wednesday, July 29th. The restaurant operator reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.01. Chipotle Mexican Grill had a net margin of 11.43% and a return on equity of 54.65%. The business had revenue of $3.35 billion during the quarter, compared to the consensus estimate of $3.33 billion. During the same quarter in the prior year, the company posted $0.33 earnings per share. The company’s quarterly revenue was up 9.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Chipotle Mexican Grill will post 1.14 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in CMG. Norges Bank acquired a new position in Chipotle Mexican Grill in the 4th quarter valued at approximately $711,837,000. Focus Partners Advisor Solutions LLC lifted its position in shares of Chipotle Mexican Grill by 156.9% in the 4th quarter. Focus Partners Advisor Solutions LLC now owns 58,269 shares of the restaurant operator’s stock worth $2,156,000 after acquiring an additional 35,589 shares during the period. PensionDanmark Pensionsforsikringsaktieselskab grew its holdings in shares of Chipotle Mexican Grill by 40.2% during the 2nd quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 268,771 shares of the restaurant operator’s stock worth $9,138,000 after purchasing an additional 77,002 shares in the last quarter. Oppenheimer Asset Management Inc. acquired a new stake in shares of Chipotle Mexican Grill during the 2nd quarter worth approximately $2,888,000. Finally, Tocqueville Asset Management L.P. bought a new stake in shares of Chipotle Mexican Grill during the second quarter valued at approximately $25,650,000. Institutional investors and hedge funds own 91.30% of the company’s stock.

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.