Piper Sandler Cuts Chipotle Mexican Grill (NYSE:CMG) Price Target to $59.00

Chipotle Mexican Grill (NYSE:CMG) had its target price decreased by equities research analysts at Piper Sandler from $60.00 to $59.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the restaurant operator’s stock. Piper Sandler’s target price points to a potential upside of 2.37% from the company’s previous close.

Several other analysts have also issued reports on the stock. Wells Fargo & Company reduced their target price on shares of Chipotle Mexican Grill from $75.00 to $70.00 and set an “overweight” rating for the company in a research note on Wednesday. Raymond James lowered their target price on shares of Chipotle Mexican Grill from $72.00 to $69.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 28th. Jefferies Financial Group increased their price target on shares of Chipotle Mexican Grill from $56.00 to $62.00 and gave the company a “hold” rating in a research report on Monday, December 16th. Sanford C. Bernstein reiterated an “outperform” rating and set a $70.00 price target on shares of Chipotle Mexican Grill in a report on Tuesday, January 28th. Finally, Stephens cut their price target on shares of Chipotle Mexican Grill from $61.00 to $60.00 and set an “equal weight” rating on the stock in a report on Wednesday. Ten research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Chipotle Mexican Grill presently has a consensus rating of “Moderate Buy” and an average target price of $66.38.

Chipotle Mexican Grill Trading Down 2.4 %

Chipotle Mexican Grill stock traded down $1.39 during mid-day trading on Wednesday, reaching $57.63. The company had a trading volume of 13,378,907 shares, compared to its average volume of 9,921,655. The company has a market cap of $78.53 billion, a P/E ratio of 53.61, a P/E/G ratio of 2.07 and a beta of 1.27. The business has a fifty day simple moving average of $60.36 and a 200 day simple moving average of $57.84. Chipotle Mexican Grill has a fifty-two week low of $47.98 and a fifty-two week high of $69.26.

Chipotle Mexican Grill (NYSE:CMG) last announced its earnings results on Tuesday, February 4th. The restaurant operator reported $0.25 EPS for the quarter, beating the consensus estimate of $0.24 by $0.01. Chipotle Mexican Grill had a return on equity of 43.20% and a net margin of 13.51%. Research analysts forecast that Chipotle Mexican Grill will post 1.11 EPS for the current year.

Insiders Place Their Bets

In related news, insider Laurie Schalow sold 4,404 shares of the business’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $65.01, for a total value of $286,304.04. Following the sale, the insider now owns 185,792 shares in the company, valued at approximately $12,078,337.92. The trade was a 2.32 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.02% of the company’s stock.

Institutional Trading of Chipotle Mexican Grill

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Verus Capital Partners LLC raised its stake in Chipotle Mexican Grill by 28.8% during the fourth quarter. Verus Capital Partners LLC now owns 34,522 shares of the restaurant operator’s stock worth $2,082,000 after purchasing an additional 7,719 shares during the period. Generali Investments Towarzystwo Funduszy Inwestycyjnych lifted its holdings in shares of Chipotle Mexican Grill by 15.2% during the 4th quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych now owns 14,400 shares of the restaurant operator’s stock valued at $868,000 after acquiring an additional 1,900 shares in the last quarter. Peloton Wealth Strategists grew its stake in shares of Chipotle Mexican Grill by 2.2% in the fourth quarter. Peloton Wealth Strategists now owns 64,675 shares of the restaurant operator’s stock valued at $3,900,000 after buying an additional 1,400 shares in the last quarter. QRG Capital Management Inc. grew its holdings in Chipotle Mexican Grill by 6.4% during the 4th quarter. QRG Capital Management Inc. now owns 54,695 shares of the restaurant operator’s stock valued at $3,298,000 after purchasing an additional 3,302 shares in the last quarter. Finally, Alphinity Investment Management Pty Ltd acquired a new position in shares of Chipotle Mexican Grill in the 4th quarter valued at approximately $692,701,000. 91.31% of the stock is owned by hedge funds and other 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.