Citigroup Has Lowered Expectations for Chipotle Mexican Grill (NYSE:CMG) Stock Price

Chipotle Mexican Grill (NYSE:CMG) had its target price lowered by Citigroup from $70.00 to $62.00 in a report released on Wednesday,Benzinga reports. The firm currently has a buy rating on the restaurant operator’s stock.

A number of other brokerages have also recently commented on CMG. Stephens lowered their price objective on shares of Chipotle Mexican Grill from $61.00 to $60.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 5th. Piper Sandler dropped their price objective on shares of Chipotle Mexican Grill from $60.00 to $59.00 and set a “neutral” rating for the company in a research note on Wednesday, February 5th. Truist Financial upped their target price on Chipotle Mexican Grill from $72.00 to $74.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Stifel Nicolaus dropped their price target on Chipotle Mexican Grill from $68.00 to $65.00 and set a “buy” rating for the company in a research report on Wednesday, March 19th. Finally, JPMorgan Chase & Co. cut their price target on Chipotle Mexican Grill from $64.00 to $58.00 and set a “neutral” rating for the company in a report on Thursday, March 20th. Eight equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $66.38.

Chipotle Mexican Grill Trading Up 0.7 %

Shares of CMG opened at $52.04 on Wednesday. Chipotle Mexican Grill has a twelve month low of $47.55 and a twelve month high of $69.26. The firm has a market capitalization of $70.53 billion, a P/E ratio of 46.87, a PEG ratio of 2.04 and a beta of 1.27. The firm’s 50-day moving average is $53.50 and its two-hundred day moving average is $57.46.

Chipotle Mexican Grill (NYSE:CMG) last released its quarterly earnings data on Tuesday, February 4th. The restaurant operator reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.01. Chipotle Mexican Grill had a return on equity of 42.92% and a net margin of 13.56%. Analysts predict that Chipotle Mexican Grill will post 1.29 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in CMG. Norges Bank acquired a new stake in shares of Chipotle Mexican Grill in the 4th quarter valued at about $1,093,345,000. Alphinity Investment Management Pty Ltd acquired a new stake in Chipotle Mexican Grill during the fourth quarter valued at approximately $692,701,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its holdings in Chipotle Mexican Grill by 4,138,574.1% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 8,318,735 shares of the restaurant operator’s stock worth $501,620,000 after buying an additional 8,318,534 shares during the last quarter. Alliancebernstein L.P. grew its position in shares of Chipotle Mexican Grill by 29.5% in the 4th quarter. Alliancebernstein L.P. now owns 30,100,520 shares of the restaurant operator’s stock worth $1,815,061,000 after acquiring an additional 6,853,470 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of Chipotle Mexican Grill in the 4th quarter valued at approximately $315,220,000. 91.31% of the stock is currently 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.