KeyCorp Has Lowered Expectations for Chipotle Mexican Grill (NYSE:CMG) Stock Price

Chipotle Mexican Grill (NYSE:CMG) had its target price decreased by equities research analysts at KeyCorp from $66.00 to $64.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the restaurant operator’s stock. KeyCorp’s target price would suggest a potential upside of 8.29% from the company’s current price.

A number of other research firms have also recently issued reports on CMG. Piper Sandler increased their target price on Chipotle Mexican Grill from $59.00 to $60.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Truist Financial raised their price objective on shares of Chipotle Mexican Grill from $72.00 to $74.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Wells Fargo & Company raised their target price on shares of Chipotle Mexican Grill from $67.00 to $75.00 and gave the stock an “overweight” rating in a report on Thursday, December 12th. Citigroup cut their price target on shares of Chipotle Mexican Grill from $70.00 to $69.00 and set a “buy” rating for the company in a report on Monday, January 27th. Finally, Wedbush restated an “outperform” rating and issued a $69.00 target price on shares of Chipotle Mexican Grill in a research report on Wednesday, January 22nd. Ten equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Chipotle Mexican Grill currently has a consensus rating of “Moderate Buy” and a consensus target price of $66.56.

Chipotle Mexican Grill Stock Up 1.3 %

Shares of CMG stock opened at $59.10 on Wednesday. The firm has a market cap of $80.53 billion, a price-to-earnings ratio of 55.01, a PEG ratio of 2.07 and a beta of 1.27. The stock has a 50-day moving average price of $60.36 and a 200 day moving average price of $57.84. Chipotle Mexican Grill has a 12 month low of $47.98 and a 12 month high of $69.26.

Chipotle Mexican Grill (NYSE:CMG) last released its earnings results on Tuesday, February 4th. The restaurant operator reported $0.25 earnings per share 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%. Sell-side analysts predict that Chipotle Mexican Grill will post 1.11 earnings per share for the current fiscal year.

Insider Activity at Chipotle Mexican Grill

In other Chipotle Mexican Grill 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 transaction, the insider now owns 185,792 shares of the company’s stock, valued at approximately $12,078,337.92. The trade was a 2.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.02% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Chipotle Mexican Grill

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Transcendent Capital Group LLC increased its stake in shares of Chipotle Mexican Grill by 950.0% in the third quarter. Transcendent Capital Group LLC now owns 525 shares of the restaurant operator’s stock worth $30,000 after purchasing an additional 475 shares in the last quarter. Mowery & Schoenfeld Wealth Management LLC bought a new position in shares of Chipotle Mexican Grill in the third quarter worth $32,000. Capital Performance Advisors LLP purchased a new position in Chipotle Mexican Grill during the 3rd quarter valued at about $33,000. Global Trust Asset Management LLC purchased a new stake in shares of Chipotle Mexican Grill in the third quarter worth about $35,000. Finally, Sound Income Strategies LLC boosted its position in shares of Chipotle Mexican Grill by 1,110.0% in the fourth quarter. Sound Income Strategies LLC now owns 605 shares of the restaurant operator’s stock valued at $36,000 after acquiring an additional 555 shares during the period. 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.