Sanford C. Bernstein Cuts Chipotle Mexican Grill (NYSE:CMG) Price Target to $60.00

Chipotle Mexican Grill (NYSE:CMG) had its price objective reduced by Sanford C. Bernstein from $65.00 to $60.00 in a research note published on Thursday morning, MarketBeat reports. They currently have an outperform rating on the restaurant operator’s stock.

CMG has been the subject of a number of other research reports. Guggenheim decreased their target price on Chipotle Mexican Grill from $47.00 to $46.00 and set a “neutral” rating for the company in a report on Friday, July 25th. Rothschild Redb upgraded shares of Chipotle Mexican Grill from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, September 3rd. TD Cowen reaffirmed a “buy” rating and issued a $58.00 price objective on shares of Chipotle Mexican Grill in a report on Friday, September 19th. BTIG Research reissued a “buy” rating and set a $57.00 target price on shares of Chipotle Mexican Grill in a report on Friday, September 5th. Finally, Raymond James Financial decreased their target price on shares of Chipotle Mexican Grill from $60.00 to $56.00 and set an “outperform” rating for the company in a research report on Friday, August 15th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Chipotle Mexican Grill has an average rating of “Moderate Buy” and an average price target of $59.41.

Chipotle Mexican Grill Price Performance

NYSE CMG opened at $41.78 on Thursday. The stock’s fifty day moving average price is $41.47 and its 200 day moving average price is $47.93. Chipotle Mexican Grill has a 1 year low of $38.30 and a 1 year high of $66.74. The company has a market cap of $56.02 billion, a price-to-earnings ratio of 37.30, a PEG ratio of 2.13 and a beta of 0.99.

Chipotle Mexican Grill (NYSE:CMG) last issued its quarterly earnings results on Wednesday, July 23rd. The restaurant operator reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.01. The company had revenue of $3.06 billion during the quarter, compared to analysts’ expectations of $3.11 billion. Chipotle Mexican Grill had a return on equity of 43.50% and a net margin of 13.32%.The firm’s revenue was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.34 EPS. Research analysts expect that Chipotle Mexican Grill will post 1.29 earnings per share for the current year.

Hedge Funds Weigh In On Chipotle Mexican Grill

A number of large investors have recently bought and sold shares of CMG. Vanguard Group Inc. boosted its position in Chipotle Mexican Grill by 0.8% during the second quarter. Vanguard Group Inc. now owns 123,457,125 shares of the restaurant operator’s stock worth $6,932,118,000 after purchasing an additional 993,798 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Chipotle Mexican Grill by 7.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 56,827,332 shares of the restaurant operator’s stock valued at $2,853,302,000 after buying an additional 4,027,016 shares in the last quarter. Alliancebernstein L.P. increased its holdings in Chipotle Mexican Grill by 1.9% in the 2nd quarter. Alliancebernstein L.P. now owns 33,111,508 shares of the restaurant operator’s stock worth $1,859,211,000 after acquiring an additional 606,190 shares in the last quarter. Geode Capital Management LLC raised its position in Chipotle Mexican Grill by 1.1% during the second quarter. Geode Capital Management LLC now owns 29,659,508 shares of the restaurant operator’s stock worth $1,657,193,000 after acquiring an additional 325,926 shares during the period. Finally, American Century Companies Inc. lifted its holdings in Chipotle Mexican Grill by 2.9% during the second quarter. American Century Companies Inc. now owns 21,257,666 shares of the restaurant operator’s stock valued at $1,193,618,000 after purchasing an additional 595,038 shares in the last quarter. Institutional investors and hedge funds own 91.30% of the company’s stock.

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.