Cowen Raises Chipotle Mexican Grill (NYSE:CMG) Price Target to $1,950.00

Chipotle Mexican Grill (NYSE:CMGGet Rating) had its price objective raised by Cowen from $1,850.00 to $1,950.00 in a report issued on Wednesday, The Fly reports. The firm currently has an outperform rating on the restaurant operator’s stock.

Other research analysts also recently issued research reports about the company. Royal Bank of Canada upped their price objective on Chipotle Mexican Grill from $1,800.00 to $1,825.00 and gave the company an outperform rating in a research note on Wednesday, July 27th. Raymond James reduced their price objective on Chipotle Mexican Grill from $1,850.00 to $1,700.00 in a research note on Tuesday, July 19th. The Goldman Sachs Group downgraded Chipotle Mexican Grill from a conviction-buy rating to a buy rating and set a $1,720.00 price objective for the company. in a research note on Monday, July 18th. Truist Financial dropped their price target on Chipotle Mexican Grill from $2,000.00 to $1,760.00 and set a buy rating on the stock in a research report on Wednesday, July 27th. Finally, Barclays upped their price target on Chipotle Mexican Grill from $1,335.00 to $1,400.00 and gave the company an equal weight rating in a research report on Wednesday, July 27th. Seven equities research analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the company. Based on data from MarketBeat.com, Chipotle Mexican Grill currently has an average rating of Moderate Buy and an average price target of $1,853.76.

Chipotle Mexican Grill Trading Down 2.0 %

Shares of Chipotle Mexican Grill stock opened at $1,665.28 on Wednesday. The stock has a fifty day simple moving average of $1,589.03 and a 200 day simple moving average of $1,474.02. Chipotle Mexican Grill has a 12-month low of $1,196.28 and a 12-month high of $1,958.55. The company has a market capitalization of $46.24 billion, a P/E ratio of 62.35, a price-to-earnings-growth ratio of 2.25 and a beta of 1.30.

Chipotle Mexican Grill (NYSE:CMGGet Rating) last announced its quarterly earnings data on Tuesday, July 26th. The restaurant operator reported $9.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $9.03 by $0.27. The firm had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.24 billion. Chipotle Mexican Grill had a return on equity of 35.14% and a net margin of 9.28%. During the same quarter in the prior year, the company earned $7.46 EPS. On average, analysts predict that Chipotle Mexican Grill will post 32.5 EPS for the current year.

Insider Buying and Selling at Chipotle Mexican Grill

In other Chipotle Mexican Grill news, insider Scott Boatwright sold 3,106 shares of the firm’s stock in a transaction dated Wednesday, September 14th. The stock was sold at an average price of $1,724.50, for a total value of $5,356,297.00. Following the sale, the insider now owns 8,647 shares of the company’s stock, valued at approximately $14,911,751.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, insider Marissa Andrada sold 251 shares of the stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $1,575.00, for a total transaction of $395,325.00. Following the transaction, the insider now directly owns 4,690 shares in the company, valued at approximately $7,386,750. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Scott Boatwright sold 3,106 shares of the stock in a transaction dated Wednesday, September 14th. The shares were sold at an average price of $1,724.50, for a total value of $5,356,297.00. Following the transaction, the insider now owns 8,647 shares in the company, valued at $14,911,751.50. The disclosure for this sale can be found here. Insiders have sold a total of 9,825 shares of company stock valued at $15,603,167 in the last 90 days. Corporate insiders own 1.01% of the company’s stock.

Hedge Funds Weigh In On Chipotle Mexican Grill

Several institutional investors have recently modified their holdings of CMG. Magellan Asset Management Ltd increased its position in shares of Chipotle Mexican Grill by 8,084.9% during the 2nd quarter. Magellan Asset Management Ltd now owns 396,558 shares of the restaurant operator’s stock valued at $518,404,000 after purchasing an additional 391,713 shares during the last quarter. Norges Bank bought a new position in Chipotle Mexican Grill during the 4th quarter worth approximately $449,935,000. Artisan Partners Limited Partnership grew its position in Chipotle Mexican Grill by 65.6% during the 2nd quarter. Artisan Partners Limited Partnership now owns 456,355 shares of the restaurant operator’s stock worth $596,575,000 after acquiring an additional 180,835 shares during the last quarter. BlackRock Inc. grew its position in Chipotle Mexican Grill by 9.7% during the 4th quarter. BlackRock Inc. now owns 1,969,178 shares of the restaurant operator’s stock worth $3,442,615,000 after acquiring an additional 173,771 shares during the last quarter. Finally, Brown Advisory Inc. grew its position in Chipotle Mexican Grill by 1,388.3% during the 1st quarter. Brown Advisory Inc. now owns 165,070 shares of the restaurant operator’s stock worth $261,281,000 after acquiring an additional 153,979 shares during the last quarter. 93.15% of the stock is currently owned by institutional investors.

About Chipotle Mexican Grill

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Chipotle Mexican Grill, Inc, together with its subsidiaries, owns and operates Chipotle Mexican Grill restaurants. As of February 15, 2022, it owned and operated approximately 3,000 restaurants in the United States, Canada, the United Kingdom, France, Germany, and rest of Europe. The company was founded in 1993 and is headquartered in Newport Beach, California.

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