Melius Begins Coverage on Chipotle Mexican Grill (NYSE:CMG)

Equities research analysts at Melius assumed coverage on shares of Chipotle Mexican Grill (NYSE:CMG) in a report issued on Monday,Briefing.com Automated Import reports. The firm set a “hold” rating and a $60.00 price target on the restaurant operator’s stock. Melius’ price target would indicate a potential upside of 9.28% from the company’s previous close.

CMG has been the subject of several other research reports. JPMorgan Chase & Co. dropped their target price on Chipotle Mexican Grill from $58.00 to $54.00 and set a “neutral” rating for the company in a research report on Thursday, May 29th. Piper Sandler decreased their price target on shares of Chipotle Mexican Grill from $59.00 to $52.00 and set a “neutral” rating for the company in a research note on Thursday, April 24th. Redburn Atlantic assumed coverage on shares of Chipotle Mexican Grill in a research note on Tuesday, June 10th. They set a “neutral” rating and a $55.00 price target for the company. Evercore ISI decreased their price target on shares of Chipotle Mexican Grill from $64.00 to $57.00 and set an “outperform” rating for the company in a research note on Thursday, April 24th. Finally, Royal Bank Of Canada reduced their price objective on shares of Chipotle Mexican Grill from $65.00 to $60.00 and set an “outperform” rating for the company in a research note on Thursday, April 24th. Ten investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $61.21.

Chipotle Mexican Grill Price Performance

CMG stock opened at $54.91 on Monday. The company has a market cap of $73.98 billion, a P/E ratio of 48.56, a price-to-earnings-growth ratio of 2.78 and a beta of 1.08. Chipotle Mexican Grill has a 1 year low of $44.46 and a 1 year high of $66.74. The stock’s fifty day moving average price is $52.58 and its 200-day moving average price is $53.06.

Chipotle Mexican Grill (NYSE:CMG) last posted its quarterly earnings results on Wednesday, April 23rd. The restaurant operator reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.01. Chipotle Mexican Grill had a return on equity of 43.29% and a net margin of 13.59%. The business had revenue of $2.88 billion for the quarter, compared to analysts’ expectations of $2.98 billion. During the same period last year, the firm earned $13.37 earnings per share. The business’s quarterly revenue was up 6.4% on a year-over-year basis. As a group, analysts expect that Chipotle Mexican Grill will post 1.29 earnings per share for the current year.

Insider Activity at Chipotle Mexican Grill

In related news, insider Roger E. Theodoredis sold 113,875 shares of the business’s stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $49.70, for a total transaction of $5,659,587.50. Following the completion of the transaction, the insider owned 109,815 shares in the company, valued at approximately $5,457,805.50. The trade was a 50.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 1.02% of the company’s stock.

Hedge Funds Weigh In On Chipotle Mexican Grill

A number of institutional investors and hedge funds have recently modified their holdings of CMG. Avanza Fonder AB boosted its stake in Chipotle Mexican Grill by 9.8% in the second quarter. Avanza Fonder AB now owns 91,453 shares of the restaurant operator’s stock valued at $5,135,000 after acquiring an additional 8,145 shares in the last quarter. Arthur M. Cohen & Associates LLC boosted its stake in shares of Chipotle Mexican Grill by 2.4% during the second quarter. Arthur M. Cohen & Associates LLC now owns 63,103 shares of the restaurant operator’s stock worth $3,543,000 after buying an additional 1,450 shares during the period. Congress Park Capital LLC boosted its stake in shares of Chipotle Mexican Grill by 6.0% during the second quarter. Congress Park Capital LLC now owns 12,300 shares of the restaurant operator’s stock worth $691,000 after buying an additional 700 shares during the period. BTC Capital Management Inc. boosted its stake in shares of Chipotle Mexican Grill by 21.7% during the second quarter. BTC Capital Management Inc. now owns 13,284 shares of the restaurant operator’s stock worth $746,000 after buying an additional 2,370 shares during the period. Finally, Kaufman Rossin Wealth LLC boosted its stake in shares of Chipotle Mexican Grill by 10.1% during the second quarter. Kaufman Rossin Wealth LLC now owns 4,627 shares of the restaurant operator’s stock worth $260,000 after buying an additional 425 shares during the period. Institutional investors and hedge funds 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.