Chipotle Mexican Grill (NYSE:CMG) Stock Bumped Down to “Hold” by TD Cowen

Posted by Brenda Bartman on Oct 21st, 2026

Chipotle Mexican Grill (NYSE:CMG – Get Free Report) was downgraded by investment analysts at TD Cowen from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday, Marketbeat.com reports. They currently have a $32.00 target price on the restaurant operator’s stock, down from their previous target price of $44.00. TD Cowen’s target price points to a potential upside of 13.85% from the company’s previous close.

Several other brokerages also recently commented on CMG. BTIG Research restated a “buy” rating and set a $45.00 price objective on shares of Chipotle Mexican Grill in a research report on Wednesday, August 5th. Robert W. Baird reaffirmed a “neutral” rating and issued a $40.00 target price (down from $44.00) on shares of Chipotle Mexican Grill in a report on Monday, August 24th. Weiss Ratings raised shares of Chipotle Mexican Grill from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, August 7th. Citigroup lowered their price objective on shares of Chipotle Mexican Grill from $45.00 to $43.00 and set a “buy” rating for the company in a research report on Monday. Finally, Piper Sandler cut their target price on shares of Chipotle Mexican Grill from $42.00 to $39.00 and set an “overweight” rating on the stock in a research report on Thursday, July 30th. Twenty-one equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $42.96.

Read Our Latest Stock Analysis on CMG

Chipotle Mexican Grill Trading Down 5.2%

Shares of NYSE:CMG opened at $28.11 on Wednesday. The firm has a 50 day moving average of $33.79 and a 200-day moving average of $33.41. The stock has a market capitalization of $35.57 billion, a PE ratio of 25.79, a PEG ratio of 1.80 and a beta of 0.96. Chipotle Mexican Grill has a 12 month low of $27.87 and a 12 month high of $42.38.

Chipotle Mexican Grill (NYSE:CMG – Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The restaurant operator reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.01. The company had revenue of $3.35 billion during the quarter, compared to the consensus estimate of $3.33 billion. Chipotle Mexican Grill had a net margin of 11.43% and a return on equity of 54.65%. The firm’s quarterly revenue was up 9.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.33 EPS. On average, research analysts predict that Chipotle Mexican Grill will post 1.14 EPS for the current fiscal year.

Insider Activity

In other news, insider Matthew R. Bush sold 2,675 shares of the company’s stock in a transaction that occurred 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 transaction, the insider owned 21,415 shares of the company’s stock, valued at $765,586.25. This represents a 11.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.45% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Chipotle Mexican Grill

Several large investors have recently modified their holdings of the business. Citizens Financial Group Inc. RI increased its holdings in Chipotle Mexican Grill by 2.5% in the first quarter. Citizens Financial Group Inc. RI now owns 12,708 shares of the restaurant operator’s stock valued at $407,000 after purchasing an additional 311 shares during the period. ANB Bank lifted its holdings in Chipotle Mexican Grill by 5.8% during the 1st quarter. ANB Bank now owns 6,317 shares of the restaurant operator’s stock worth $202,000 after buying an additional 349 shares during the period. State of Wyoming lifted its holdings in Chipotle Mexican Grill by 10.9% during the 1st quarter. State of Wyoming now owns 3,759 shares of the restaurant operator’s stock worth $120,000 after buying an additional 368 shares during the period. Valmark Advisers Inc. grew its position in shares of Chipotle Mexican Grill by 2.9% in the 1st quarter. Valmark Advisers Inc. now owns 13,275 shares of the restaurant operator’s stock valued at $425,000 after buying an additional 377 shares during the last quarter. Finally, Western Pacific Wealth Management LP grew its position in shares of Chipotle Mexican Grill by 26.3% in the 1st quarter. Western Pacific Wealth Management LP now owns 2,023 shares of the restaurant operator’s stock valued at $65,000 after buying an additional 421 shares during the last quarter. Institutional investors own 91.30% of the company’s stock.

Trending Headlines about Chipotle Mexican Grill

Here are the key news stories impacting Chipotle Mexican Grill this week:

Positive Sentiment: Deutsche Bank reported that Chipotle’s price increases have reached 19.9% of its store base. Higher menu prices could support revenue and margins if customer traffic remains resilient. Chipotle price hikes reach 19.9% of stores, Deutsche Bank says
Positive Sentiment: Deutsche Bank continues to view CMG favorably despite lowering its price target to $45 from $51, suggesting it believes the recent weakness may create longer-term value. Wells Fargo also maintained an overweight rating, although it reduced its target to $40 from $45. Deutsche Bank adjusts Chipotle price target
Neutral Sentiment: Chipotle is bringing back its Boorito Halloween promotion, offering $6 entrées to Rewards members in costume. The event could increase traffic and engagement, but its effect on overall quarterly results is likely limited. Boorito returns for Halloween 2026
Negative Sentiment: TD Cowen downgraded CMG from Buy to Hold and cut its price target to $32 from $44, citing slowing sales and a weak start to October. The analyst now expects below-consensus same-store sales growth in the fourth quarter and sees a potentially challenging 2027. Why Chipotle stock is trading lower today
Negative Sentiment: Pre-earnings coverage has questioned whether Chipotle can deliver an earnings beat, while unusually heavy put-option activity indicates increased bearish or hedging demand. Investors are likely to focus on traffic, same-store sales and management’s outlook on October 28. Chipotle reports next week: what to know

Chipotle Mexican Grill Company Profile

(Get Free Report)

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.