Chipotle Mexican Grill’s (CMG) “Outperform” Rating Reaffirmed at Royal Bank of Canada

Royal Bank of Canada reiterated their outperform rating on shares of Chipotle Mexican Grill (NYSE:CMG) in a research report report published on Tuesday,Benzinga reports. Royal Bank of Canada currently has a $75.00 price target on the restaurant operator’s stock.

A number of other research analysts have also recently issued reports on CMG. Wells Fargo & Company lifted their price objective on shares of Chipotle Mexican Grill from $67.00 to $75.00 and gave the company an “overweight” rating in a report on Thursday, December 12th. Barclays lifted their price target on Chipotle Mexican Grill from $60.00 to $63.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 7th. Wedbush restated an “outperform” rating and issued a $69.00 target price on shares of Chipotle Mexican Grill in a report on Wednesday, January 22nd. Oppenheimer lifted their target price on Chipotle Mexican Grill from $65.00 to $69.00 and gave the company an “outperform” rating in a research report on Tuesday, January 7th. Finally, Truist Financial increased their price target on Chipotle Mexican Grill from $72.00 to $74.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Ten equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $66.88.

Chipotle Mexican Grill Stock Performance

Shares of NYSE:CMG opened at $57.76 on Tuesday. Chipotle Mexican Grill has a 52-week low of $46.29 and a 52-week high of $69.26. The business’s 50 day simple moving average is $60.63 and its two-hundred day simple moving average is $57.72. The firm has a market cap of $78.70 billion, a P/E ratio of 53.76, a PEG ratio of 1.88 and a beta of 1.27.

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

Insiders Place Their Bets

In other news, insider Laurie Schalow sold 4,404 shares of the business’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $65.01, for a total value of $286,304.04. Following the completion of the sale, the insider now directly owns 185,792 shares in the company, valued at approximately $12,078,337.92. The trade was a 2.32 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.02% of the stock is owned by insiders.

Hedge Funds Weigh In On Chipotle Mexican Grill

A number of large investors have recently added to or reduced their stakes in the business. Assenagon Asset Management S.A. increased its holdings in shares of 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 buying an additional 4,315,983 shares during the period. Congress Asset Management Co. bought a new position in Chipotle Mexican Grill during the 3rd quarter worth approximately $109,396,000. Thrivent Financial for Lutherans increased its stake in Chipotle Mexican Grill by 674.3% in the 3rd quarter. Thrivent Financial for Lutherans now owns 2,122,778 shares of the restaurant operator’s stock worth $122,314,000 after purchasing an additional 1,848,625 shares during the period. Raymond James & Associates lifted its position in Chipotle Mexican Grill by 94.3% in the third quarter. Raymond James & Associates now owns 2,969,776 shares of the restaurant operator’s stock valued at $171,118,000 after purchasing an additional 1,441,172 shares during the last quarter. Finally, International Assets Investment Management LLC boosted its stake in shares of Chipotle Mexican Grill by 5,188.9% during the third quarter. International Assets Investment Management LLC now owns 1,421,140 shares of the restaurant operator’s stock valued at $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.