Chipotle Mexican Grill (NYSE:CMG) Now Covered by Analysts at Royal Bank of Canada

Royal Bank of Canada initiated coverage on shares of Chipotle Mexican Grill (NYSE:CMG) in a research note issued to investors on Friday, Marketbeat Ratings reports. The brokerage issued an outperform rating and a $70.00 price target on the restaurant operator’s stock.

CMG has been the topic of a number of other research reports. BMO Capital Markets upped their price target on shares of Chipotle Mexican Grill from $55.00 to $56.00 and gave the company a “market perform” rating in a research note on Wednesday, October 30th. TD Cowen upped their price target on shares of Chipotle Mexican Grill from $65.00 to $68.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Truist Financial upped their price target on shares of Chipotle Mexican Grill from $71.00 to $72.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Citigroup cut their price target on shares of Chipotle Mexican Grill from $71.00 to $70.00 and set a “buy” rating on the stock in a research note on Wednesday, October 30th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $65.00 price objective on shares of Chipotle Mexican Grill in a research note on Monday, September 30th. Ten investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $65.27.

Chipotle Mexican Grill Stock Down 2.1 %

NYSE:CMG opened at $58.63 on Friday. Chipotle Mexican Grill has a 52 week low of $43.10 and a 52 week high of $69.26. The firm has a 50 day moving average of $58.02 and a 200 day moving average of $81.31. The stock has a market capitalization of $79.89 billion, a price-to-earnings ratio of 54.57, a PEG ratio of 2.36 and a beta of 1.26.

Chipotle Mexican Grill (NYSE:CMG) last issued its quarterly earnings results on Tuesday, October 29th. The restaurant operator reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.02. Chipotle Mexican Grill had a net margin of 13.51% and a return on equity of 43.20%. The business had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.82 billion. During the same quarter in the prior year, the business posted $0.23 EPS. Chipotle Mexican Grill’s revenue for the quarter was up 13.0% compared to the same quarter last year. As a group, analysts expect that Chipotle Mexican Grill will post 1.11 EPS for the current year.

Insider Buying and Selling

In related news, insider Curtis E. Garner sold 15,750 shares of the business’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $57.05, for a total transaction of $898,537.50. Following the transaction, the insider now directly owns 457,764 shares in the company, valued at approximately $26,115,436.20. The trade was a 3.33 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Robin S. Hickenlooper sold 1,790 shares of the business’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $56.38, for a total transaction of $100,920.20. Following the completion of the transaction, the director now owns 41,510 shares in the company, valued at $2,340,333.80. The trade was a 4.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 33,290 shares of company stock worth $1,866,023. 1.02% of the stock is owned by insiders.

Hedge Funds Weigh In On Chipotle Mexican Grill

Several institutional investors and hedge funds have recently bought and sold shares of CMG. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Chipotle Mexican Grill in the 2nd quarter valued at about $25,000. Riverview Trust Co boosted its holdings in Chipotle Mexican Grill by 4,900.0% in the 2nd quarter. Riverview Trust Co now owns 400 shares of the restaurant operator’s stock valued at $25,000 after purchasing an additional 392 shares during the last quarter. RiverPark Advisors LLC boosted its holdings in Chipotle Mexican Grill by 4,900.0% in the 2nd quarter. RiverPark Advisors LLC now owns 400 shares of the restaurant operator’s stock valued at $25,000 after purchasing an additional 392 shares during the last quarter. Archer Investment Corp acquired a new position in Chipotle Mexican Grill in the 2nd quarter valued at about $25,000. Finally, Oliver Lagore Vanvalin Investment Group boosted its holdings in Chipotle Mexican Grill by 4,900.0% in the 2nd quarter. Oliver Lagore Vanvalin Investment Group now owns 400 shares of the restaurant operator’s stock valued at $25,000 after purchasing an additional 392 shares during the last quarter. 91.31% of the stock is currently owned by institutional investors and hedge funds.

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.