KeyCorp Cuts Chipotle Mexican Grill (NYSE:CMG) Price Target to $60.00

Chipotle Mexican Grill (NYSE:CMG) had its price objective decreased by KeyCorp from $64.00 to $60.00 in a research report released on Tuesday morning,Benzinga reports. KeyCorp currently has an overweight rating on the restaurant operator’s stock.

Several other brokerages also recently issued reports on CMG. Robert W. Baird cut their target price on shares of Chipotle Mexican Grill from $68.00 to $62.00 and set an “outperform” rating on the stock in a research note on Monday, April 7th. Sanford C. Bernstein restated an “outperform” rating and set a $70.00 price objective on shares of Chipotle Mexican Grill in a research report on Tuesday, January 28th. Wedbush dropped their target price on Chipotle Mexican Grill from $69.00 to $64.00 and set an “outperform” rating on the stock in a report on Wednesday, February 5th. Piper Sandler decreased their price target on shares of Chipotle Mexican Grill from $60.00 to $59.00 and set a “neutral” rating for the company in a report on Wednesday, February 5th. Finally, Loop Capital upgraded shares of Chipotle Mexican Grill from a “hold” rating to a “buy” rating and increased their target price for the stock from $58.00 to $65.00 in a research report on Friday, March 14th. Eight investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $65.42.

Chipotle Mexican Grill Stock Up 0.1 %

Shares of NYSE CMG opened at $48.13 on Tuesday. The business has a fifty day simple moving average of $51.08 and a 200-day simple moving average of $56.64. The company has a market cap of $65.24 billion, a price-to-earnings ratio of 43.36, a P/E/G ratio of 2.04 and a beta of 1.27. Chipotle Mexican Grill has a 12 month low of $44.46 and a 12 month 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, topping the consensus estimate of $0.24 by $0.01. Chipotle Mexican Grill had a net margin of 13.56% and a return on equity of 42.92%. As a group, sell-side analysts expect that Chipotle Mexican Grill will post 1.29 EPS for the current fiscal year.

Institutional Investors Weigh In On Chipotle Mexican Grill

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Golden State Wealth Management LLC acquired a new stake in Chipotle Mexican Grill in the 4th quarter valued at approximately $371,000. Raymond James Financial Inc. bought a new stake in shares of Chipotle Mexican Grill in the fourth quarter valued at approximately $315,220,000. U.S. Capital Wealth Advisors LLC grew its stake in shares of Chipotle Mexican Grill by 155.1% in the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 14,918 shares of the restaurant operator’s stock worth $900,000 after acquiring an additional 9,070 shares during the last quarter. Woodard & Co. Asset Management Group Inc. ADV bought a new position in Chipotle Mexican Grill during the fourth quarter worth $715,000. Finally, Vinva Investment Management Ltd raised its stake in Chipotle Mexican Grill by 50.6% during the 4th quarter. Vinva Investment Management Ltd now owns 65,069 shares of the restaurant operator’s stock valued at $3,910,000 after purchasing an additional 21,864 shares during the last quarter. 91.31% of the stock is owned by institutional investors and hedge funds.

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.