Chipotle Mexican Grill (CMG) Lowered to Equal Weight at Morgan Stanley

Morgan Stanley lowered shares of Chipotle Mexican Grill (NYSE:CMG) from an overweight rating to an equal weight rating in a research note issued to investors on Wednesday, 24/7 WallStreet reports. The brokerage currently has $658.00 price objective on the restaurant operator’s stock, up from their previous price objective of $617.00. The analysts noted that the move was a valuation call.

Other analysts have also issued research reports about the company. Canaccord Genuity reissued a hold rating on shares of Chipotle Mexican Grill in a research note on Wednesday, February 13th. Wells Fargo & Co increased their price objective on Chipotle Mexican Grill from $489.00 to $647.00 and gave the company a market perform rating in a research note on Tuesday. Piper Jaffray Companies reissued an overweight rating and set a $590.00 price objective (up previously from $550.00) on shares of Chipotle Mexican Grill in a research note on Thursday, January 31st. Stifel Nicolaus reissued a hold rating and set a $500.00 price objective on shares of Chipotle Mexican Grill in a research note on Monday, February 11th. Finally, BTIG Research increased their price objective on Chipotle Mexican Grill from $515.00 to $605.00 and gave the company a buy rating in a research note on Wednesday, January 23rd. Seven analysts have rated the stock with a sell rating, sixteen have issued a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. Chipotle Mexican Grill presently has an average rating of Hold and an average target price of $568.31.

CMG traded up $3.61 during midday trading on Wednesday, hitting $691.82. The stock had a trading volume of 7,519 shares, compared to its average volume of 690,964. The firm has a market cap of $19.08 billion, a P/E ratio of 76.60, a P/E/G ratio of 3.25 and a beta of 0.68. Chipotle Mexican Grill has a 1 year low of $326.00 and a 1 year high of $721.21.

Chipotle Mexican Grill (NYSE:CMG) last issued its earnings results on Wednesday, February 6th. The restaurant operator reported $1.72 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.38 by $0.34. The business had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.20 billion. Chipotle Mexican Grill had a return on equity of 17.64% and a net margin of 3.63%. Chipotle Mexican Grill’s revenue for the quarter was up 10.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.34 earnings per share. As a group, equities research analysts anticipate that Chipotle Mexican Grill will post 12.42 EPS for the current year.

In other news, Director Pershing Square Capital Manage sold 20,000 shares of the stock in a transaction on Tuesday, February 12th. The stock was sold at an average price of $594.65, for a total value of $11,893,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Jack Hartung sold 1,188 shares of the stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $680.00, for a total value of $807,840.00. Following the completion of the sale, the chief financial officer now directly owns 37,472 shares in the company, valued at $25,480,960. The disclosure for this sale can be found here. In the last quarter, insiders sold 51,788 shares of company stock valued at $31,629,459. 2.21% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bruderman Asset Management LLC purchased a new stake in shares of Chipotle Mexican Grill during the fourth quarter valued at $39,000. Captrust Financial Advisors boosted its position in shares of Chipotle Mexican Grill by 44.0% during the fourth quarter. Captrust Financial Advisors now owns 167 shares of the restaurant operator’s stock valued at $72,000 after buying an additional 51 shares during the last quarter. Huntington National Bank boosted its position in shares of Chipotle Mexican Grill by 19.9% during the fourth quarter. Huntington National Bank now owns 169 shares of the restaurant operator’s stock valued at $73,000 after buying an additional 28 shares during the last quarter. NuWave Investment Management LLC boosted its position in shares of Chipotle Mexican Grill by 2,087.5% during the first quarter. NuWave Investment Management LLC now owns 175 shares of the restaurant operator’s stock valued at $124,000 after buying an additional 167 shares during the last quarter. Finally, Clean Yield Group purchased a new stake in shares of Chipotle Mexican Grill during the fourth quarter valued at $86,000. 93.07% of the stock is currently owned by hedge funds and other institutional investors.

Chipotle Mexican Grill Company Profile

Chipotle Mexican Grill, Inc, together with its subsidiaries, operates Chipotle Mexican Grill restaurants. As of December 31, 2018, it operated approximately 2,500 restaurants in the United States, Canada, the United Kingdom, France, and Germany. The company was founded in 1993 and is headquartered in Newport Beach, California.

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Analyst Recommendations for Chipotle Mexican Grill (NYSE:CMG)

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