Chipotle Mexican Grill (NYSE:CMG) Rating Increased to Outperform at BMO Capital Markets

BMO Capital Markets upgraded shares of Chipotle Mexican Grill (NYSE:CMG) from a market perform rating to an outperform rating in a research report report published on Friday, MarketBeat.com reports. They currently have $65.00 price target on the restaurant operator’s stock, up from their previous price target of $56.00.

Several other brokerages have also recently issued reports on CMG. Truist Financial upped their target price on Chipotle Mexican Grill from $63.00 to $64.00 and gave the company a “buy” rating in a report on Wednesday, July 9th. Guggenheim set a $47.00 price objective on Chipotle Mexican Grill in a research report on Friday, April 25th. Barclays raised their price objective on Chipotle Mexican Grill from $54.00 to $55.00 and gave the stock an “equal weight” rating in a research report on Thursday. TD Securities reissued a “buy” rating and set a $57.00 target price on shares of Chipotle Mexican Grill in a research note on Wednesday, June 18th. Finally, Wells Fargo & Company increased their target price on Chipotle Mexican Grill from $55.00 to $65.00 and gave the stock an “overweight” rating in a research note on Thursday. Nine investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $61.72.

Chipotle Mexican Grill Stock Performance

Shares of CMG stock opened at $53.88 on Friday. Chipotle Mexican Grill has a fifty-two week low of $44.46 and a fifty-two week high of $66.74. The firm has a market capitalization of $72.60 billion, a price-to-earnings ratio of 47.68, a PEG ratio of 2.64 and a beta of 1.08. The stock’s 50-day simple moving average is $52.90 and its 200-day simple moving average is $52.94.

Chipotle Mexican Grill (NYSE:CMG) last announced its quarterly earnings results on Wednesday, April 23rd. The restaurant operator reported $0.29 earnings per share (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 company had revenue of $2.88 billion during the quarter, compared to the consensus estimate of $2.98 billion. During the same period in the previous year, the company posted $13.37 earnings per share. Chipotle Mexican Grill’s revenue for the quarter was up 6.4% on a year-over-year basis. As a group, equities analysts forecast that Chipotle Mexican Grill will post 1.29 earnings per share for the current year.

Insiders Place Their Bets

In other Chipotle Mexican Grill news, insider Roger E. Theodoredis sold 113,875 shares of the firm’s stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $49.70, for a total value of $5,659,587.50. Following the completion of the transaction, the insider directly owned 109,815 shares of the company’s stock, valued at $5,457,805.50. This trade represents a 50.91% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.81% of the company’s stock.

Hedge Funds Weigh In On Chipotle Mexican Grill

A number of hedge funds have recently modified their holdings of the company. E. Ohman J or Asset Management AB lifted its position in Chipotle Mexican Grill by 0.3% during the second quarter. E. Ohman J or Asset Management AB now owns 59,234 shares of the restaurant operator’s stock valued at $3,326,000 after purchasing an additional 194 shares during the period. Occidental Asset Management LLC increased its stake in shares of Chipotle Mexican Grill by 2.8% in the second quarter. Occidental Asset Management LLC now owns 7,257 shares of the restaurant operator’s stock worth $407,000 after purchasing an additional 195 shares in the last quarter. Perennial Advisors LLC grew its stake in Chipotle Mexican Grill by 3.1% during the second quarter. Perennial Advisors LLC now owns 6,667 shares of the restaurant operator’s stock valued at $374,000 after acquiring an additional 200 shares in the last quarter. Revolve Wealth Partners LLC grew its stake in Chipotle Mexican Grill by 4.7% during the fourth quarter. Revolve Wealth Partners LLC now owns 4,804 shares of the restaurant operator’s stock valued at $290,000 after acquiring an additional 214 shares in the last quarter. Finally, Pine Haven Investment Counsel Inc grew its stake in Chipotle Mexican Grill by 0.6% during the second quarter. Pine Haven Investment Counsel Inc now owns 37,111 shares of the restaurant operator’s stock valued at $2,084,000 after acquiring an additional 215 shares in the last quarter. Hedge funds and other institutional investors own 91.31% 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.