Redburn Atlantic Begins Coverage on Chipotle Mexican Grill (NYSE:CMG)

Redburn Atlantic assumed coverage on shares of Chipotle Mexican Grill (NYSE:CMGGet Free Report) in a research note issued on Tuesday, Marketbeat.com reports. The firm set a “neutral” rating and a $55.00 price target on the restaurant operator’s stock. Redburn Atlantic’s target price indicates a potential upside of 6.16% from the stock’s previous close.

CMG has been the subject of several other reports. Argus cut Chipotle Mexican Grill from a “buy” rating to a “hold” rating in a research note on Monday, April 28th. Stephens reissued an “equal weight” rating and set a $49.00 price objective on shares of Chipotle Mexican Grill in a research report on Monday. Piper Sandler reduced their target price on shares of Chipotle Mexican Grill from $59.00 to $52.00 and set a “neutral” rating on the stock in a report on Thursday, April 24th. Royal Bank of Canada decreased their price target on shares of Chipotle Mexican Grill from $65.00 to $60.00 and set an “outperform” rating for the company in a research note on Thursday, April 24th. Finally, Morgan Stanley dropped their price objective on shares of Chipotle Mexican Grill from $67.00 to $65.00 and set an “overweight” rating on the stock in a research report on Thursday, April 24th. Ten research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $61.37.

View Our Latest Stock Analysis on CMG

Chipotle Mexican Grill Price Performance

NYSE CMG opened at $51.81 on Tuesday. The company has a market cap of $69.81 billion, a P/E ratio of 46.67, a P/E/G ratio of 2.04 and a beta of 1.06. The stock has a 50-day moving average of $50.21 and a two-hundred day moving average of $54.49. Chipotle Mexican Grill has a 1-year low of $44.46 and a 1-year high of $69.26.

Chipotle Mexican Grill (NYSE:CMGGet Free Report) last announced its earnings results on Wednesday, April 23rd. The restaurant operator reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.01. Chipotle Mexican Grill had a net margin of 13.56% and a return on equity of 42.92%. The firm had revenue of $2.88 billion for the quarter, compared to the consensus estimate of $2.98 billion. During the same period in the prior year, the firm earned $13.37 EPS. The firm’s revenue for the quarter was up 6.4% on a year-over-year basis. On average, analysts anticipate that Chipotle Mexican Grill will post 1.29 EPS for the current fiscal year.

Insider Buying and Selling

In other Chipotle Mexican Grill news, insider Roger E. Theodoredis sold 113,875 shares of the company’s stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $49.70, for a total transaction of $5,659,587.50. Following the completion of the transaction, the insider now owns 109,815 shares in the company, valued at approximately $5,457,805.50. This represents a 50.91% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.81% of the company’s stock.

Institutional Investors Weigh In On Chipotle Mexican Grill

A number of hedge funds have recently added to or reduced their stakes in the company. Norges Bank acquired a new position in Chipotle Mexican Grill during the fourth quarter worth $1,093,345,000. Alphinity Investment Management Pty Ltd purchased a new stake in shares of Chipotle Mexican Grill during the 4th quarter worth $692,701,000. Nuveen LLC acquired a new position in shares of Chipotle Mexican Grill during the 1st quarter worth $535,023,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its stake in shares of 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 purchasing an additional 8,318,534 shares during the period. Finally, Alliancebernstein L.P. increased its holdings 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 valued at $1,815,061,000 after purchasing an additional 6,853,470 shares in the last quarter. Institutional investors and hedge funds own 91.31% of the company’s stock.

About Chipotle Mexican Grill

(Get Free Report)

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.

See Also

Analyst Recommendations for Chipotle Mexican Grill (NYSE:CMG)

Receive News & Ratings for Chipotle Mexican Grill Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chipotle Mexican Grill and related companies with MarketBeat.com's FREE daily email newsletter.