Mizuho Forecasts Strong Price Appreciation for Chipotle Mexican Grill (NYSE:CMG) Stock

Chipotle Mexican Grill (NYSE:CMG) had its price target lifted by analysts at Mizuho from $40.00 to $41.00 in a report issued on Monday,Benzinga reports. The brokerage currently has an “outperform” rating on the restaurant operator’s stock. Mizuho’s price target would indicate a potential upside of 16.08% from the stock’s previous close.

Other research analysts have also issued reports about the stock. BTIG Research reissued a “buy” rating and issued a $45.00 target price on shares of Chipotle Mexican Grill in a report on Thursday, April 30th. Argus raised shares of Chipotle Mexican Grill from a “hold” rating to a “buy” rating and set a $40.00 price target on the stock in a research note on Tuesday, May 5th. Citigroup increased their price objective on shares of Chipotle Mexican Grill from $44.00 to $46.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. Piper Sandler reduced their target price on shares of Chipotle Mexican Grill from $44.00 to $42.00 and set an “overweight” rating on the stock in a report on Thursday, April 30th. Finally, Zacks Research raised shares of Chipotle Mexican Grill from a “strong sell” rating to a “hold” rating in a report on Friday, April 17th. Twenty-three research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $45.13.

Chipotle Mexican Grill Price Performance

NYSE:CMG opened at $35.32 on Monday. The company has a market capitalization of $45.30 billion, a price-to-earnings ratio of 32.40, a PEG ratio of 2.28 and a beta of 0.97. The business has a 50 day moving average of $32.36 and a 200 day moving average of $34.97. Chipotle Mexican Grill has a 1-year low of $28.03 and a 1-year high of $56.31.

Chipotle Mexican Grill (NYSE:CMG) last issued its quarterly earnings results on Wednesday, April 29th. The restaurant operator reported $0.24 EPS for the quarter, meeting analysts’ consensus estimates of $0.24. Chipotle Mexican Grill had a net margin of 11.96% and a return on equity of 49.64%. The business had revenue of $3.09 billion for the quarter, compared to analysts’ expectations of $3.07 billion. During the same period last year, the business earned $0.29 earnings per share. The business’s quarterly revenue was up 7.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Chipotle Mexican Grill will post 1.13 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in CMG. Vanguard Group Inc. boosted its stake in shares of Chipotle Mexican Grill by 14.8% during the 4th quarter. Vanguard Group Inc. now owns 144,588,220 shares of the restaurant operator’s stock worth $5,349,764,000 after purchasing an additional 18,660,882 shares during the last quarter. Capital World Investors grew its holdings in shares of Chipotle Mexican Grill by 15.8% during the fourth quarter. Capital World Investors now owns 101,688,010 shares of the restaurant operator’s stock worth $3,762,457,000 after buying an additional 13,843,222 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Chipotle Mexican Grill by 18.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 58,447,867 shares of the restaurant operator’s stock valued at $2,162,572,000 after buying an additional 9,237,720 shares during the last quarter. Capital International Investors raised its position in shares of Chipotle Mexican Grill by 17.7% in the fourth quarter. Capital International Investors now owns 45,294,212 shares of the restaurant operator’s stock valued at $1,675,895,000 after buying an additional 6,796,285 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Chipotle Mexican Grill during the fourth quarter valued at approximately $711,837,000. Institutional investors and hedge funds own 91.30% of the company’s stock.

About Chipotle Mexican Grill

Chipotle Mexican Grill is a fast-casual restaurant company known for its Mexican-inspired menu of burritos, bowls, tacos and salads. Founded in 1993 by Steve Ells, the chain emphasizes fresh, customizable meals made from a limited menu of core ingredients and a focus on ingredient quality. Chipotle operates primarily company-owned restaurants and offers dine-in, takeout, catering and delivery through its own digital platforms and third-party partners.

The company is headquartered in Newport Beach, California, and traces its roots to Denver, Colorado.