Piper Sandler Has Lowered Expectations for Chipotle Mexican Grill (NYSE:CMG) Stock Price

Chipotle Mexican Grill (NYSE:CMG) had its price objective lowered by equities research analysts at Piper Sandler from $60.00 to $59.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the restaurant operator’s stock. Piper Sandler’s target price suggests a potential upside of 3.02% from the stock’s current price.

A number of other analysts have also issued reports on the stock. KeyCorp lowered their target price on shares of Chipotle Mexican Grill from $66.00 to $64.00 and set an “overweight” rating for the company in a research note on Wednesday. TD Cowen upped their target price on Chipotle Mexican Grill from $65.00 to $68.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Cfra raised shares of Chipotle Mexican Grill from a “buy” rating to a “strong-buy” rating and lifted their price objective for the company from $59.00 to $73.00 in a report on Wednesday. Loop Capital increased their target price on Chipotle Mexican Grill from $53.00 to $58.00 and gave the company a “hold” rating in a report on Wednesday, October 30th. Finally, BMO Capital Markets boosted their price objective on Chipotle Mexican Grill from $55.00 to $56.00 and gave the stock a “market perform” rating in a research note on Wednesday, October 30th. Ten investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Chipotle Mexican Grill currently has a consensus rating of “Moderate Buy” and a consensus price target of $66.31.

Chipotle Mexican Grill Stock Down 0.4 %

Shares of Chipotle Mexican Grill stock opened at $57.27 on Wednesday. The company has a market cap of $78.04 billion, a price-to-earnings ratio of 53.31, a price-to-earnings-growth ratio of 2.07 and a beta of 1.27. The company’s 50 day moving average is $60.27 and its 200 day moving average is $57.84. Chipotle Mexican Grill has a twelve month low of $47.98 and a twelve month high of $69.26.

Chipotle Mexican Grill (NYSE:CMG) last released its quarterly earnings data on Tuesday, February 4th. The restaurant operator reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.01. Chipotle Mexican Grill had a net margin of 13.51% and a return on equity of 43.20%. Sell-side analysts expect that Chipotle Mexican Grill will post 1.11 EPS for the current fiscal year.

Insider Activity

In related news, insider Laurie Schalow sold 4,404 shares of the firm’s stock in a transaction dated 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 owns 185,792 shares in the company, valued at $12,078,337.92. This trade represents a 2.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.02% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in CMG. Geode Capital Management LLC grew its holdings in shares of Chipotle Mexican Grill by 1.6% during the third quarter. Geode Capital Management LLC now owns 28,080,978 shares of the restaurant operator’s stock worth $1,612,682,000 after buying an additional 438,007 shares in the last quarter. Franklin Resources Inc. grew its stake in Chipotle Mexican Grill by 2.9% during the 3rd quarter. Franklin Resources Inc. now owns 13,661,937 shares of the restaurant operator’s stock valued at $805,692,000 after purchasing an additional 381,873 shares in the last quarter. Alphinity Investment Management Pty Ltd bought a new stake in shares of Chipotle Mexican Grill in the 4th quarter worth about $692,701,000. Janus Henderson Group PLC lifted its stake in Chipotle Mexican Grill by 5.6% during the third quarter. Janus Henderson Group PLC now owns 9,830,644 shares of the restaurant operator’s stock worth $566,439,000 after purchasing an additional 518,521 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Chipotle Mexican Grill by 3.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 8,488,635 shares of the restaurant operator’s stock valued at $511,865,000 after acquiring an additional 288,266 shares during the period. 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.