Chipotle Mexican Grill (CMG) Price Target Cut to $415.00

Chipotle Mexican Grill (NYSE:CMG) had its price target lowered by Wells Fargo & Co from $418.00 to $415.00 in a research note published on Tuesday, October 16th. The brokerage currently has a market perform rating on the restaurant operator’s stock.

CMG has been the subject of several other research reports. Citigroup increased their price objective on Chipotle Mexican Grill from $506.00 to $573.00 and gave the company a buy rating in a report on Wednesday, August 15th. Zacks Investment Research upgraded Chipotle Mexican Grill from a hold rating to a buy rating and set a $512.00 price objective for the company in a report on Monday, July 16th. UBS Group lowered Chipotle Mexican Grill from a market perform rating to an underperform rating in a report on Monday, October 1st. Oppenheimer lowered Chipotle Mexican Grill from a market perform rating to an underperform rating and set a $400.00 target price for the company. in a research note on Monday, October 1st. They noted that the move was a valuation call. Finally, KeyCorp initiated coverage on Chipotle Mexican Grill in a research note on Wednesday, October 3rd. They issued an overweight rating and a $500.00 target price for the company. Nine equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and fifteen have issued a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus price target of $431.72.

Chipotle Mexican Grill stock traded up $12.46 during mid-day trading on Tuesday, reaching $490.76. 883,948 shares of the company were exchanged, compared to its average volume of 812,930. Chipotle Mexican Grill has a 12-month low of $247.51 and a 12-month high of $530.68. The firm has a market cap of $13.27 billion, a P/E ratio of 74.36, a P/E/G ratio of 3.15 and a beta of 0.22.

Chipotle Mexican Grill (NYSE:CMG) last issued its quarterly earnings data on Thursday, October 25th. The restaurant operator reported $2.16 EPS for the quarter, beating the consensus estimate of $2.00 by $0.16. Chipotle Mexican Grill had a return on equity of 17.14% and a net margin of 3.96%. The firm had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.23 billion. Research analysts anticipate that Chipotle Mexican Grill will post 8.48 earnings per share for the current year.

In other Chipotle Mexican Grill news, Director Pershing Square Capital Manage sold 118,307 shares of the stock in a transaction dated Tuesday, November 6th. The stock was sold at an average price of $472.05, for a total transaction of $55,846,819.35. The sale was disclosed in a filing with the SEC, which is available through this link. 2.19% of the stock is currently owned by company insiders.

Several large investors have recently bought and sold shares of the company. Canada Pension Plan Investment Board grew its position in shares of Chipotle Mexican Grill by 3,566.7% during the 3rd quarter. Canada Pension Plan Investment Board now owns 8,910 shares of the restaurant operator’s stock valued at $4,050,000 after acquiring an additional 8,667 shares during the period. Trexquant Investment LP acquired a new stake in shares of Chipotle Mexican Grill during the 3rd quarter valued at about $4,431,000. DekaBank Deutsche Girozentrale grew its position in shares of Chipotle Mexican Grill by 6.9% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 1,802 shares of the restaurant operator’s stock valued at $918,000 after acquiring an additional 116 shares during the period. Ontario Teachers Pension Plan Board acquired a new stake in shares of Chipotle Mexican Grill during the 3rd quarter valued at about $528,000. Finally, Bank of Hawaii lifted its stake in Chipotle Mexican Grill by 121.6% in the 3rd quarter. Bank of Hawaii now owns 1,640 shares of the restaurant operator’s stock valued at $745,000 after buying an additional 900 shares in the last quarter. Hedge funds and other institutional investors own 89.13% of the company’s stock.

About Chipotle Mexican Grill

Chipotle Mexican Grill, Inc, together with its subsidiaries, operates Chipotle Mexican Grill restaurants. As of December 31, 2017, it operated 2,363 Chipotle restaurants throughout the United States, as well as 37 international Chipotle restaurants; and 8 non-Chipotle restaurants. The company was founded in 1993 and is based in Denver, Colorado.

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