Chipotle Mexican Grill’s (CMG) “Buy” Rating Reiterated at TD Securities

TD Securities reissued their buy rating on shares of Chipotle Mexican Grill (NYSE:CMG) in a report published on Wednesday,Benzinga reports. They currently have a $57.00 price objective on the restaurant operator’s stock.

CMG has been the topic of a number of other research reports. JPMorgan Chase & Co. reduced their price target on Chipotle Mexican Grill from $58.00 to $54.00 and set a “neutral” rating on the stock in a research report on Thursday, May 29th. Wells Fargo & Company reduced their price target on Chipotle Mexican Grill from $70.00 to $60.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 22nd. Guggenheim set a $47.00 price target on Chipotle Mexican Grill in a research report on Friday, April 25th. Morgan Stanley cut their target price on Chipotle Mexican Grill from $67.00 to $65.00 and set an “overweight” rating for the company in a research note on Thursday, April 24th. Finally, Stephens restated an “equal weight” rating and set a $49.00 target price on shares of Chipotle Mexican Grill in a research note on Monday, June 9th. Ten research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $60.79.

Chipotle Mexican Grill Price Performance

CMG opened at $52.81 on Wednesday. The company has a market capitalization of $71.15 billion, a PE ratio of 46.73, a price-to-earnings-growth ratio of 2.57 and a beta of 1.06. Chipotle Mexican Grill has a 1 year low of $44.46 and a 1 year high of $66.74. The business has a fifty day simple moving average of $50.63 and a 200 day simple moving average of $54.01.

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

Insider Activity

In other news, insider Roger E. Theodoredis sold 113,875 shares of the firm’s stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $49.70, for a total value of $5,659,587.50. Following the completion of the sale, the insider now directly owns 109,815 shares in the company, valued at $5,457,805.50. This trade represents a 50.91% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.81% of the stock is currently owned by company insiders.

Institutional Trading of Chipotle Mexican Grill

Several large investors have recently made changes to their positions in CMG. Norges Bank acquired a new position in Chipotle Mexican Grill during the 4th quarter valued at about $1,093,345,000. Alphinity Investment Management Pty Ltd acquired a new position in Chipotle Mexican Grill during the 4th quarter valued at about $692,701,000. Nuveen LLC acquired a new position in Chipotle Mexican Grill during the 1st quarter valued at about $535,023,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its stake in Chipotle Mexican Grill by 4,138,574.1% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 8,318,735 shares of the restaurant operator’s stock valued at $501,620,000 after purchasing an additional 8,318,534 shares during the last quarter. Finally, Alliancebernstein L.P. boosted its stake in Chipotle Mexican Grill by 29.5% during the 4th quarter. Alliancebernstein L.P. now owns 30,100,520 shares of the restaurant operator’s stock valued at $1,815,061,000 after purchasing an additional 6,853,470 shares during the last quarter. 91.31% of the stock is currently owned by institutional investors and hedge funds.

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.