Wedbush Reiterates “Outperform” Rating for Chipotle Mexican Grill (NYSE:CMG)

Chipotle Mexican Grill (NYSE:CMG)‘s stock had its “outperform” rating reiterated by analysts at Wedbush in a report issued on Thursday, Benzinga reports. They currently have a $58.00 target price on the restaurant operator’s stock. Wedbush’s price target indicates a potential upside of 4.00% from the stock’s current price.

A number of other research analysts have also recently issued reports on the stock. Truist Financial restated a “buy” rating and set a $69.00 price objective on shares of Chipotle Mexican Grill in a report on Tuesday, August 13th. Raymond James lowered their price objective on shares of Chipotle Mexican Grill from $70.00 to $62.50 and set an “outperform” rating for the company in a research report on Thursday, July 25th. Loop Capital reduced their target price on Chipotle Mexican Grill from $58.00 to $53.00 and set a “hold” rating on the stock in a report on Thursday, July 25th. KeyCorp lowered their price target on Chipotle Mexican Grill from $68.00 to $66.00 and set an “overweight” rating for the company in a report on Thursday, July 25th. Finally, Argus increased their price objective on shares of Chipotle Mexican Grill from $73.36 to $77.76 and gave the stock a “buy” rating in a research report on Tuesday, June 18th. Ten research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat.com, Chipotle Mexican Grill has a consensus rating of “Moderate Buy” and a consensus target price of $62.36.

Chipotle Mexican Grill Stock Performance

Shares of Chipotle Mexican Grill stock opened at $55.77 on Thursday. The firm has a fifty day moving average of $120.69 and a two-hundred day moving average of $80.68. The stock has a market capitalization of $76.59 billion, a price-to-earnings ratio of 59.33, a PEG ratio of 2.23 and a beta of 1.24. Chipotle Mexican Grill has a 52 week low of $35.37 and a 52 week high of $69.26.

Chipotle Mexican Grill (NYSE:CMG) last released its earnings results on Wednesday, July 24th. The restaurant operator reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.02. The firm had revenue of $2.97 billion for the quarter, compared to analyst estimates of $2.94 billion. Chipotle Mexican Grill had a return on equity of 44.01% and a net margin of 13.23%. The company’s quarterly revenue was up 18.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $12.65 earnings per share. As a group, research analysts forecast that Chipotle Mexican Grill will post 1.09 EPS for the current fiscal year.

Insider Transactions at Chipotle Mexican Grill

In other Chipotle Mexican Grill news, insider Curtis E. Garner sold 17,394 shares of the firm’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $54.68, for a total transaction of $951,103.92. Following the completion of the sale, the insider now owns 358,300 shares of the company’s stock, valued at approximately $19,591,844. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.02% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in CMG. American Century Companies Inc. grew its position in Chipotle Mexican Grill by 4,732.3% during the second quarter. American Century Companies Inc. now owns 20,177,309 shares of the restaurant operator’s stock worth $1,264,109,000 after buying an additional 19,759,754 shares in the last quarter. Legal & General Group Plc lifted its position in shares of Chipotle Mexican Grill by 5,209.5% during the 2nd quarter. Legal & General Group Plc now owns 10,935,669 shares of the restaurant operator’s stock valued at $685,128,000 after acquiring an additional 10,729,706 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in shares of Chipotle Mexican Grill by 5,930.8% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 10,310,132 shares of the restaurant operator’s stock worth $645,930,000 after purchasing an additional 10,139,174 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Chipotle Mexican Grill by 4,816.1% in the second quarter. Bank of New York Mellon Corp now owns 8,356,173 shares of the restaurant operator’s stock worth $523,514,000 after purchasing an additional 8,186,198 shares during the period. Finally, Marshall Wace LLP raised its stake in Chipotle Mexican Grill by 76,617.6% in the second quarter. Marshall Wace LLP now owns 5,904,952 shares of the restaurant operator’s stock valued at $369,945,000 after purchasing an additional 5,897,255 shares in the last quarter. Institutional investors and hedge funds own 91.31% of the company’s stock.

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.