KeyCorp Cuts Chipotle Mexican Grill (NYSE:CMG) Price Target to $64.00

Chipotle Mexican Grill (NYSE:CMG) had its target price decreased by KeyCorp from $66.00 to $64.00 in a research note released on Wednesday morning,Benzinga reports. KeyCorp currently has an overweight rating on the restaurant operator’s stock.

Other analysts have also issued research reports about the company. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $70.00 price objective on shares of Chipotle Mexican Grill in a report on Tuesday, January 28th. Citigroup decreased their target price on Chipotle Mexican Grill from $70.00 to $69.00 and set a “buy” rating on the stock in a research report on Monday, January 27th. Stephens reiterated an “equal weight” rating and issued a $65.00 target price on shares of Chipotle Mexican Grill in a research report on Tuesday, November 12th. Robert W. Baird upped their price objective on Chipotle Mexican Grill from $62.00 to $70.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Finally, Wedbush reiterated an “outperform” rating and issued a $69.00 price target on shares of Chipotle Mexican Grill in a report on Wednesday, January 22nd. Ten equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $66.31.

Chipotle Mexican Grill Stock Performance

Shares of CMG stock opened at $57.29 on Wednesday. The firm has a market cap of $78.06 billion, a P/E ratio of 53.32, a P/E/G ratio of 2.07 and a beta of 1.27. Chipotle Mexican Grill has a fifty-two week low of $47.98 and a fifty-two week high of $69.26. The business’s 50 day moving average price is $60.17 and its 200-day moving average price is $57.83.

Chipotle Mexican Grill (NYSE:CMG) last announced its quarterly earnings data on Tuesday, February 4th. The restaurant operator reported $0.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.01. Chipotle Mexican Grill had a return on equity of 43.20% and a net margin of 13.51%. As a group, equities analysts predict that Chipotle Mexican Grill will post 1.11 EPS for the current year.

Insider Activity

In related news, insider Laurie Schalow sold 4,404 shares of the firm’s stock in a transaction that occurred on 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 of the company’s stock, 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 SEC, which is available at the SEC website. 1.02% of the stock is owned by company insiders.

Hedge Funds Weigh In On Chipotle Mexican Grill

A number of hedge funds and other institutional investors have recently bought and sold shares of CMG. Alpha DNA Investment Management LLC increased its stake in Chipotle Mexican Grill by 1.2% in the 3rd quarter. Alpha DNA Investment Management LLC now owns 13,644 shares of the restaurant operator’s stock valued at $786,000 after buying an additional 168 shares during the last quarter. Lecap Asset Management Ltd. grew its position in shares of Chipotle Mexican Grill by 1.2% during the 3rd quarter. Lecap Asset Management Ltd. now owns 14,625 shares of the restaurant operator’s stock worth $843,000 after purchasing an additional 175 shares in the last quarter. Tortoise Investment Management LLC grew its position in shares of Chipotle Mexican Grill by 14.0% during the 4th quarter. Tortoise Investment Management LLC now owns 1,436 shares of the restaurant operator’s stock worth $87,000 after purchasing an additional 176 shares in the last quarter. Connable Office Inc. boosted its position in shares of Chipotle Mexican Grill by 0.6% during the 3rd quarter. Connable Office Inc. now owns 31,928 shares of the restaurant operator’s stock worth $1,840,000 after acquiring an additional 178 shares in the last quarter. Finally, Albion Financial Group UT boosted its position in shares of Chipotle Mexican Grill by 14.4% during the 3rd quarter. Albion Financial Group UT now owns 1,430 shares of the restaurant operator’s stock worth $82,000 after acquiring an additional 180 shares in the last quarter. 91.31% of the stock is owned by institutional investors.

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.