Chipotle Mexican Grill (NYSE:CMG) Earns Outperform Rating from Royal Bank of Canada

Chipotle Mexican Grill (NYSE:CMG)‘s stock had its “outperform” rating reissued by stock analysts at Royal Bank of Canada in a research note issued to investors on Tuesday,Benzinga reports. They currently have a $75.00 target price on the restaurant operator’s stock. Royal Bank of Canada’s target price would suggest a potential upside of 28.57% from the company’s current price.

A number of other research firms also recently weighed in on CMG. Wedbush reaffirmed an “outperform” rating and issued a $69.00 price target on shares of Chipotle Mexican Grill in a research note on Wednesday, January 22nd. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $70.00 price target on shares of Chipotle Mexican Grill in a research note on Tuesday. Stephens reissued an “equal weight” rating and issued a $65.00 price target on shares of Chipotle Mexican Grill in a research note on Tuesday, November 12th. Truist Financial raised their price objective on shares of Chipotle Mexican Grill from $72.00 to $74.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Finally, Raymond James boosted their target price on shares of Chipotle Mexican Grill from $66.00 to $72.00 and gave the stock an “outperform” rating in a research report on Monday, December 16th. Ten investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $66.88.

Chipotle Mexican Grill Price Performance

NYSE:CMG opened at $58.34 on Tuesday. The stock has a market cap of $79.49 billion, a PE ratio of 54.30, a price-to-earnings-growth ratio of 1.88 and a beta of 1.27. Chipotle Mexican Grill has a fifty-two week low of $47.88 and a fifty-two week high of $69.26. The stock’s 50-day moving average is $60.61 and its two-hundred day moving average is $57.72.

Chipotle Mexican Grill (NYSE:CMG) last announced its quarterly earnings data on Tuesday, October 29th. The restaurant operator reported $0.27 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 firm had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.82 billion. During the same period in the previous year, the firm posted $0.23 earnings per share. The firm’s revenue was up 13.0% on a year-over-year basis. On average, equities research analysts anticipate that Chipotle Mexican Grill will post 1.11 earnings per share for the current year.

Insider Transactions at Chipotle Mexican Grill

In related news, insider Laurie Schalow sold 4,404 shares of the stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $65.01, for a total transaction of $286,304.04. Following the sale, the insider now directly owns 185,792 shares in the company, valued at $12,078,337.92. This represents a 2.32 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.02% of the company’s stock.

Institutional Trading of Chipotle Mexican Grill

Several large investors have recently made changes to their positions in the business. Geode Capital Management LLC grew its holdings in Chipotle Mexican Grill by 1.6% during the 3rd quarter. Geode Capital Management LLC now owns 28,080,978 shares of the restaurant operator’s stock worth $1,612,682,000 after acquiring an additional 438,007 shares during the last quarter. Franklin Resources Inc. grew its stake in shares of Chipotle Mexican Grill by 2.9% during the third quarter. Franklin Resources Inc. now owns 13,661,937 shares of the restaurant operator’s stock valued at $805,692,000 after purchasing an additional 381,873 shares during the last quarter. Janus Henderson Group PLC increased its holdings in shares of Chipotle Mexican Grill by 5.6% in the third quarter. Janus Henderson Group PLC now owns 9,830,644 shares of the restaurant operator’s stock valued at $566,439,000 after purchasing an additional 518,521 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Chipotle Mexican Grill by 11.6% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,271,318 shares of the restaurant operator’s stock worth $476,593,000 after purchasing an additional 858,704 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Chipotle Mexican Grill by 1.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 8,200,369 shares of the restaurant operator’s stock worth $472,505,000 after buying an additional 132,756 shares in the last quarter. Institutional investors 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.