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

Chipotle Mexican Grill (NYSE:CMG) had its target price reduced by analysts at Citigroup from $45.00 to $43.00 in a research note issued on Monday, October 19th, Benzinga reports. The firm currently has a “buy” rating on the restaurant operator’s stock. Citigroup‘s price objective would indicate a potential upside of 37.24% from the stock’s current price.

Other analysts have also recently issued research reports about the stock. Seaport Research Partners started coverage on shares of Chipotle Mexican Grill in a research note on Wednesday, September 16th. They set a “neutral” rating on the stock. DA Davidson raised their price target on shares of Chipotle Mexican Grill from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. Sanford C. Bernstein reissued an “outperform” rating and set a $50.00 target price (up from $40.00) on shares of Chipotle Mexican Grill in a research report on Friday, July 31st. Weiss Ratings raised Chipotle Mexican Grill from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, August 7th. Finally, Bank of America restated a “buy” rating and set a $53.00 price target (up from $50.00) on shares of Chipotle Mexican Grill in a research report on Tuesday, September 1st. Twenty-seven investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. According to data from MarketBeat, Chipotle Mexican Grill currently has a consensus rating of “Moderate Buy” and a consensus target price of $42.47.

Chipotle Mexican Grill Trading Up 9.1%

Shares of NYSE:CMG traded up $2.60 during trading on Monday, hitting $31.33. 42,432,740 shares of the company’s stock traded hands, compared to its average volume of 18,084,094. The company has a 50-day moving average price of $33.20 and a 200-day moving average price of $34.21. The company has a market cap of $39.65 billion, a price-to-earnings ratio of 28.74, a price-to-earnings-growth ratio of 1.67 and a beta of 0.96. Chipotle Mexican Grill has a 52 week low of $27.31 and a 52 week high of $41.42.

Chipotle Mexican Grill (NYSE:CMG) last announced its quarterly earnings data on Wednesday, October 28th. The restaurant operator reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.02). Chipotle Mexican Grill had a return on equity of 54.65% and a net margin of 11.43%. The business had revenue of $3.29 billion during the quarter, compared to the consensus estimate of $3.29 billion. During the same period in the prior year, the firm earned $0.29 EPS. The business’s revenue for the quarter was up 9.6% compared to the same quarter last year. On average, analysts predict that Chipotle Mexican Grill will post 1.14 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Chipotle Mexican Grill news, insider Matthew R. Bush sold 2,675 shares of Chipotle Mexican Grill stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $35.75, for a total transaction of $95,631.25. Following the transaction, the insider owned 21,415 shares of the company’s stock, valued at $765,586.25. The trade was a 11.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.45% of the company’s stock.

Hedge Funds Weigh In On Chipotle Mexican Grill

Several institutional investors have recently added to or reduced their stakes in CMG. EP Wealth Advisors LLC purchased a new position in Chipotle Mexican Grill in the 2nd quarter worth about $948,000. Callan Family Office LLC purchased a new stake in shares of Chipotle Mexican Grill in the 2nd quarter worth approximately $1,406,000. MassMutual Private Wealth & Trust FSB boosted its position in Chipotle Mexican Grill by 7,051.6% during the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 243,726 shares of the restaurant operator’s stock valued at $7,787,000 after acquiring an additional 240,318 shares in the last quarter. Park National Corp OH raised its holdings in Chipotle Mexican Grill by 442.1% in the third quarter. Park National Corp OH now owns 309,327 shares of the restaurant operator’s stock worth $9,883,000 after purchasing an additional 252,265 shares in the last quarter. Finally, KMG Fiduciary Partners LLC boosted its stake in Chipotle Mexican Grill by 246.4% in the third quarter. KMG Fiduciary Partners LLC now owns 141,389 shares of the restaurant operator’s stock valued at $4,517,000 after acquiring an additional 100,569 shares in the last quarter. Hedge funds and other institutional investors own 91.30% of the company’s stock.

Chipotle Mexican Grill News Summary

Here are the key news stories impacting Chipotle Mexican Grill this week:

• Positive Sentiment: Third-quarter revenue rose 9.6% to $3.29 billion, in line with expectations, while comparable-restaurant sales increased 2.1% and transactions grew for the third consecutive quarter. Value offers and limited-time menu items helped attract diners. Chipotle beats quarterly sales expectations on resilient demand
• Positive Sentiment: Investors responded favorably to signs of a traffic recovery following earlier food-safety concerns. New menu launches, refreshed loyalty benefits and plans to accelerate technology and menu innovation are supporting the turnaround. Chipotle Sales Beat as New Chicken, Chips Bring Diners Back
• Positive Sentiment: Chipotle opened 84 company-owned restaurants during the quarter, and its loyalty program surpassed 24 million members, providing additional long-term growth and customer-engagement potential. Chipotle: 3 Key Takeaways for Long-Term Investors
• Positive Sentiment: Several analysts maintained bullish ratings, including DA Davidson and BTIG Research at $45 targets and Oppenheimer at a $51 target, implying substantial upside based on the supplied reference price. Oppenheimer analyst rating
• Neutral Sentiment: Analyst opinion remains mixed: Citigroup kept a Buy rating while cutting its target to $41, whereas BNP Paribas Exane retained Neutral and reduced its target to $36. Bernstein also lowered its target to $43 from $50. Citigroup price target
• Negative Sentiment: Adjusted earnings were $0.27 per share, below the $0.29 consensus and last year’s $0.29, as higher operating costs, beef prices and increased protein usage pressured margins. Chipotle Q3 earnings miss estimates
• Negative Sentiment: Management’s outlook calls for only modestly higher sales, leaving investors dependent on the fourth-quarter brisket launch, continued traffic gains and successful cost management to sustain the recovery. The rest of Chipotle’s year hinges on brisket

Chipotle Mexican Grill Company Profile

Chipotle Mexican Grill, Inc (NYSE: CMG) operates a chain of fast-casual restaurants focused on Mexican-inspired food. Its menu includes burritos, burrito bowls, tacos, quesadillas and salads, with options such as chicken, steak, barbacoa, carnitas, sofritas and vegetables. The company emphasizes preparing food in its restaurants from ingredients it describes as responsibly sourced, including meats raised with attention to animal welfare and produce from selected suppliers.

Founded by Steve Ells in 1993, Chipotle opened its first restaurant in Denver, Colorado.