Chipotle Mexican Grill’s (CMG) “Outperform” Rating Reiterated at Sanford C. Bernstein

Sanford C. Bernstein reissued their outperform rating on shares of Chipotle Mexican Grill (NYSE:CMG) in a research report report published on Tuesday morning,Benzinga reports. Sanford C. Bernstein currently has a $70.00 price target on the restaurant operator’s stock.

Several other equities research analysts also recently weighed in on CMG. Evercore ISI boosted their target price on shares of Chipotle Mexican Grill from $70.00 to $72.00 and gave the stock an “outperform” rating in a research report on Thursday, December 5th. Oppenheimer upped their price objective on Chipotle Mexican Grill from $65.00 to $69.00 and gave the company an “outperform” rating in a research note on Tuesday, January 7th. Loop Capital lifted their target price on Chipotle Mexican Grill from $53.00 to $58.00 and gave the stock a “hold” rating in a research report on Wednesday, October 30th. Truist Financial raised their price objective on Chipotle Mexican Grill from $72.00 to $74.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Finally, Jefferies Financial Group lifted their price objective on shares of Chipotle Mexican Grill from $56.00 to $62.00 and gave the stock a “hold” rating in a report on Monday, December 16th. Ten investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $66.88.

Chipotle Mexican Grill Stock Performance

Shares of CMG opened at $58.97 on Tuesday. Chipotle Mexican Grill has a one year low of $47.98 and a one year high of $69.26. The stock has a 50-day moving average price of $60.59 and a 200 day moving average price of $57.73. The company has a market capitalization of $80.35 billion, a P/E ratio of 54.88, a P/E/G ratio of 1.88 and a beta of 1.27.

Chipotle Mexican Grill (NYSE:CMG) last released its quarterly earnings results on Tuesday, October 29th. The restaurant operator reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.02. The business had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.82 billion. Chipotle Mexican Grill had a net margin of 13.51% and a return on equity of 43.20%. The business’s quarterly revenue was up 13.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.23 earnings per share. As a group, equities research analysts forecast that Chipotle Mexican Grill will post 1.11 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Laurie Schalow sold 4,404 shares of the stock in a transaction 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 completion of the sale, the insider now directly owns 185,792 shares in the company, valued at approximately $12,078,337.92. This trade represents a 2.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.02% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Chipotle Mexican Grill

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Alpha DNA Investment Management LLC increased its holdings in Chipotle Mexican Grill by 1.2% in the third quarter. Alpha DNA Investment Management LLC now owns 13,644 shares of the restaurant operator’s stock worth $786,000 after buying an additional 168 shares during the last quarter. Lecap Asset Management Ltd. lifted its position in Chipotle Mexican Grill by 1.2% during the 3rd quarter. Lecap Asset Management Ltd. now owns 14,625 shares of the restaurant operator’s stock worth $843,000 after acquiring an additional 175 shares during the last quarter. Connable Office Inc. increased its position in Chipotle Mexican Grill by 0.6% in the 3rd quarter. Connable Office Inc. now owns 31,928 shares of the restaurant operator’s stock worth $1,840,000 after buying an additional 178 shares during the period. Albion Financial Group UT grew its stake in shares of Chipotle Mexican Grill by 14.4% in the third quarter. Albion Financial Group UT now owns 1,430 shares of the restaurant operator’s stock worth $82,000 after acquiring an additional 180 shares during the last quarter. Finally, Traynor Capital Management Inc. grew its position in Chipotle Mexican Grill by 2.5% in the 4th quarter. Traynor Capital Management Inc. now owns 7,522 shares of the restaurant operator’s stock worth $454,000 after purchasing an additional 181 shares during the last quarter. 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.