Chipotle Mexican Grill (NYSE:CMG – Get Free Report)‘s stock had its “hold” rating reiterated by equities research analysts at TD Cowen in a research note issued on Wednesday, Marketbeat Ratings reports. They currently have a $32.00 price target on the restaurant operator’s stock, down from their previous price target of $44.00. TD Cowen‘s price objective indicates a potential upside of 7.89% from the company’s current price.
Other analysts have also recently issued research reports about the company. Weiss Ratings upgraded Chipotle Mexican Grill from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, August 7th. Raymond James Financial cut their target price on shares of Chipotle Mexican Grill from $42.50 to $37.00 and set an “outperform” rating for the company in a research note on Friday, October 16th. Seaport Research Partners assumed coverage on shares of Chipotle Mexican Grill in a report on Wednesday, September 16th. They issued a “neutral” rating on the stock. Argus raised their price target on shares of Chipotle Mexican Grill from $40.00 to $45.00 and gave the stock a “buy” rating in a research note on Tuesday, August 4th. Finally, Guggenheim reaffirmed a “neutral” rating and set a $36.00 price target (up from $35.00) on shares of Chipotle Mexican Grill in a research note on Friday, July 31st. Twenty-one research analysts have rated the stock with a Buy rating and eleven have assigned a Hold 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 $43.15.
Get Our Latest Stock Report on Chipotle Mexican Grill
Chipotle Mexican Grill Stock Performance
CMG stock opened at $29.66 on Wednesday. Chipotle Mexican Grill has a 1 year low of $28.03 and a 1 year high of $42.74. The stock’s 50 day moving average price is $33.88 and its 200 day moving average price is $33.45. The firm has a market cap of $37.53 billion, a P/E ratio of 27.21, a PEG ratio of 1.83 and a beta of 0.96.
Chipotle Mexican Grill (NYSE:CMG – Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The restaurant operator reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.01. Chipotle Mexican Grill had a return on equity of 54.65% and a net margin of 11.43%. The company had revenue of $3.35 billion during the quarter, compared to the consensus estimate of $3.33 billion. During the same quarter last year, the business posted $0.33 earnings per share. Chipotle Mexican Grill’s revenue was up 9.3% compared to the same quarter last year. On average, research analysts predict that Chipotle Mexican Grill will post 1.14 earnings per share for the current year.
Insider Activity
In other news, insider Matthew R. Bush sold 2,675 shares of Chipotle Mexican Grill stock in a transaction on Friday, August 21st. The stock was sold at an average price of $35.75, for a total value of $95,631.25. Following the completion of the sale, the insider owned 21,415 shares of the company’s stock, valued at $765,586.25. The trade was a 11.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.45% of the stock is owned by company insiders.
Hedge Funds Weigh In On Chipotle Mexican Grill
Several institutional investors have recently added to or reduced their stakes in CMG. EP Wealth Advisors LLC bought a new position in Chipotle Mexican Grill during the 2nd quarter valued at $948,000. Callan Family Office LLC bought a new stake in shares of Chipotle Mexican Grill in the 2nd quarter worth about $1,406,000. MassMutual Private Wealth & Trust FSB increased its position in shares of Chipotle Mexican Grill by 7,051.6% in the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 243,726 shares of the restaurant operator’s stock worth $7,787,000 after purchasing an additional 240,318 shares during the last quarter. Park National Corp OH raised its stake in shares of Chipotle Mexican Grill by 442.1% in the 3rd quarter. Park National Corp OH now owns 309,327 shares of the restaurant operator’s stock valued at $9,883,000 after purchasing an additional 252,265 shares in the last quarter. Finally, KMG Fiduciary Partners LLC raised its stake in shares of Chipotle Mexican Grill by 246.4% in the 3rd quarter. KMG Fiduciary Partners LLC now owns 141,389 shares of the restaurant operator’s stock valued at $4,517,000 after purchasing an additional 100,569 shares in the last quarter. 91.30% of the stock is currently owned by institutional investors and hedge funds.
Key Headlines Impacting Chipotle Mexican Grill
Here are the key news stories impacting Chipotle Mexican Grill this week:
- Positive Sentiment: Citigroup retained a Buy rating despite lowering its price target from $45 to $43, implying substantial potential upside from current levels. Citigroup lowers Chipotle price target
- Positive Sentiment: Analysts expect third-quarter results to show continued sales recovery, supported by Chipotle’s “Recipe for Growth” initiatives and two consecutive quarters of comparable-sales growth. Chipotle Q3 results expected to show continued sales recovery
- Positive Sentiment: Chipotle’s Cultivate Next venture fund backed agricultural-biologicals company IMIO in a $12 million funding round, potentially supporting the restaurant chain’s longer-term efforts to improve agricultural supply and sustainability. IMIO raises $12 million
- Neutral Sentiment: Chipotle is expected to report quarterly earnings on Wednesday, making near-term results, comparable sales, and management guidance important catalysts for CMG. Chipotle projected to announce quarterly earnings
- Neutral Sentiment: The company will bring back its Halloween Boorito promotion, offering Rewards members in costume $6 entrées on October 31. The event could drive traffic but may pressure average ticket or margins. Boorito returns
- Negative Sentiment: TD Cowen downgraded CMG from Buy to Hold and set a $32 price target, signaling limited conviction in the near term even though the target remains above the current price. TD Cowen downgrades Chipotle
- Negative Sentiment: Citigroup’s target reduction and commentary questioning expectations around Chipotle’s valuation add pressure to the shares. At roughly 24 times adjusted trailing earnings, investors appear to be pricing in significant future growth despite weaker reported net income. Citigroup lowers expectations for Chipotle
- Negative Sentiment: Reports that Starbucks explored acquiring Chipotle were denied, removing a potential takeover premium and leaving shareholders dependent on standalone execution and growth. Chipotle and Starbucks takeover report
Chipotle Mexican Grill Company Profile
Chipotle Mexican Grill, Inc (NYSE: CMG) operates a chain of fast-casual restaurants focused on Mexican-inspired food. Its menu includes burritos, burrito bowls, tacos, quesadillas and salads, with options such as chicken, steak, barbacoa, carnitas, sofritas and vegetables. The company emphasizes preparing food in its restaurants from ingredients it describes as responsibly sourced, including meats raised with attention to animal welfare and produce from selected suppliers.
Founded by Steve Ells in 1993, Chipotle opened its first restaurant in Denver, Colorado.
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