Sanford C. Bernstein Cuts Chipotle Mexican Grill (NYSE:CMG) Price Target to $60.00

Chipotle Mexican Grill (NYSE:CMG) had its price target decreased by Sanford C. Bernstein from $65.00 to $60.00 in a research note released on Thursday, Marketbeat reports. Sanford C. Bernstein currently has an outperform rating on the restaurant operator’s stock.

A number of other research firms also recently issued reports on CMG. Piper Sandler upgraded Chipotle Mexican Grill from a “neutral” rating to an “overweight” rating and decreased their price objective for the stock from $53.00 to $50.00 in a report on Tuesday, August 12th. UBS Group increased their price objective on Chipotle Mexican Grill from $60.00 to $65.00 and gave the stock a “buy” rating in a report on Thursday, July 17th. Barclays decreased their price objective on Chipotle Mexican Grill from $55.00 to $53.00 and set an “equal weight” rating for the company in a report on Thursday, July 24th. Wells Fargo & Company decreased their price objective on Chipotle Mexican Grill from $65.00 to $60.00 and set an “overweight” rating for the company in a report on Thursday, July 24th. Finally, Citigroup decreased their price objective on Chipotle Mexican Grill from $68.00 to $62.00 and set a “buy” rating for the company in a report on Thursday, July 24th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $59.41.

Chipotle Mexican Grill Price Performance

NYSE CMG opened at $40.25 on Thursday. The firm has a market cap of $53.97 billion, a P/E ratio of 35.94, a P/E/G ratio of 1.98 and a beta of 0.99. The stock’s 50-day moving average is $41.57 and its 200-day moving average is $47.98. Chipotle Mexican Grill has a one year low of $38.30 and a one year high of $66.74.

Chipotle Mexican Grill (NYSE:CMG) last released its quarterly earnings results on Wednesday, July 23rd. The restaurant operator reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.01. The company had revenue of $3.06 billion for the quarter, compared to analyst estimates of $3.11 billion. Chipotle Mexican Grill had a return on equity of 43.50% and a net margin of 13.32%.Chipotle Mexican Grill’s revenue was up 3.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.34 earnings per share. Equities analysts anticipate that Chipotle Mexican Grill will post 1.29 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Norges Bank acquired a new stake in Chipotle Mexican Grill during the 2nd quarter worth approximately $1,001,668,000. Nuveen LLC acquired a new stake in Chipotle Mexican Grill during the 1st quarter worth approximately $535,023,000. Sustainable Growth Advisers LP acquired a new stake in Chipotle Mexican Grill during the 2nd quarter worth approximately $597,031,000. Goldman Sachs Group Inc. lifted its holdings in Chipotle Mexican Grill by 98.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 9,900,521 shares of the restaurant operator’s stock worth $497,105,000 after purchasing an additional 4,903,969 shares during the last quarter. Finally, Montrusco Bolton Investments Inc. lifted its holdings in Chipotle Mexican Grill by 5,319.7% during the 1st quarter. Montrusco Bolton Investments Inc. now owns 4,848,990 shares of the restaurant operator’s stock worth $235,580,000 after purchasing an additional 4,759,520 shares during the last quarter. 91.30% of the stock is currently owned by 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.