Morgan Stanley Cuts Chipotle Mexican Grill (NYSE:CMG) Price Target to $49.00

Chipotle Mexican Grill (NYSE:CMG) had its price objective decreased by Morgan Stanley from $50.00 to $49.00 in a research report sent to investors on Wednesday morning,Benzinga reports. Morgan Stanley currently has an overweight rating on the restaurant operator’s stock.

Other research analysts have also issued research reports about the company. KeyCorp cut their price target on Chipotle Mexican Grill from $45.00 to $42.00 and set an “overweight” rating on the stock in a research report on Wednesday. Piper Sandler cut their target price on shares of Chipotle Mexican Grill from $47.00 to $44.00 and set an “overweight” rating on the stock in a report on Wednesday. Stephens reiterated an “equal weight” rating and issued a $35.00 price target on shares of Chipotle Mexican Grill in a research report on Wednesday. Royal Bank Of Canada lowered their price objective on shares of Chipotle Mexican Grill from $58.00 to $40.00 and set an “outperform” rating on the stock in a research report on Thursday, October 30th. Finally, TD Cowen restated a “buy” rating and issued a $44.00 price objective on shares of Chipotle Mexican Grill in a research note on Wednesday. Twenty-two investment analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. According to MarketBeat.com, Chipotle Mexican Grill presently has a consensus rating of “Moderate Buy” and an average price target of $47.24.

Chipotle Mexican Grill Trading Up 2.5%

CMG stock opened at $39.42 on Wednesday. The company’s 50 day moving average is $37.79 and its two-hundred day moving average is $38.89. Chipotle Mexican Grill has a twelve month low of $29.75 and a twelve month high of $59.09. The stock has a market cap of $51.34 billion, a P/E ratio of 34.58, a PEG ratio of 2.47 and a beta of 0.99.

Chipotle Mexican Grill (NYSE:CMG) last announced its quarterly earnings results on Tuesday, February 3rd. The restaurant operator reported $0.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.01. Chipotle Mexican Grill had a net margin of 12.88% and a return on equity of 47.99%. The firm had revenue of $2.98 billion during the quarter, compared to analysts’ expectations of $2.96 billion. During the same period in the previous year, the company earned $0.25 earnings per share. Chipotle Mexican Grill’s quarterly revenue was up 4.9% compared to the same quarter last year. On average, equities research analysts predict that Chipotle Mexican Grill will post 1.29 earnings per share for the current year.

Institutional Trading of Chipotle Mexican Grill

Several hedge funds and other institutional investors have recently made changes to their positions in CMG. EverSource Wealth Advisors LLC boosted its holdings in Chipotle Mexican Grill by 109.2% during the fourth quarter. EverSource Wealth Advisors LLC now owns 24,907 shares of the restaurant operator’s stock worth $922,000 after buying an additional 12,999 shares in the last quarter. RD Lewis Holdings Inc. purchased a new position in Chipotle Mexican Grill in the fourth quarter valued at about $245,000. Ferguson Johnson Wealth Management Inc acquired a new stake in shares of Chipotle Mexican Grill during the 4th quarter valued at approximately $222,000. Advisory Alpha LLC boosted its stake in shares of Chipotle Mexican Grill by 30.8% during the 4th quarter. Advisory Alpha LLC now owns 12,344 shares of the restaurant operator’s stock worth $457,000 after acquiring an additional 2,908 shares in the last quarter. Finally, Evoke Wealth LLC acquired a new stake in shares of Chipotle Mexican Grill in the 4th quarter worth approximately $542,000. Institutional investors and hedge funds own 91.30% of the company’s stock.

About Chipotle Mexican Grill

Chipotle Mexican Grill is a fast-casual restaurant company known for its Mexican-inspired menu of burritos, bowls, tacos and salads. Founded in 1993 by Steve Ells, the chain emphasizes fresh, customizable meals made from a limited menu of core ingredients and a focus on ingredient quality. Chipotle operates primarily company-owned restaurants and offers dine-in, takeout, catering and delivery through its own digital platforms and third-party partners.

The company is headquartered in Newport Beach, California, and traces its roots to Denver, Colorado.