KeyCorp Lowers Price Target for Chipotle Mexican Grill

Chipotle Mexican Grill (NYSE:CMG) has seen its price target adjusted by analysts at KeyCorp, who have reduced it from $66.00 to $64.00 in a report issued on Wednesday. Despite the cut, KeyCorp has maintained an "overweight" rating for the company's stock. This new price target indicates a potential upside of approximately 8.29% based on the stock's current trading price.

In addition to KeyCorp, several other analysts have recently provided their insights on Chipotle. For instance, Jefferies Financial Group raised its price target from $56.00 to $62.00 while maintaining a "hold" rating in a research note dated December 16. Loop Capital also adjusted its price target from $53.00 to $58.00, giving Chipotle a "hold" rating in their report on October 30. Furthermore, Wells Fargo & Company increased their price target for Chipotle from $67.00 to $75.00, again assigning an "overweight" rating in their report from December 12. Cfra took a more optimistic view, elevating Chipotle's rating from "buy" to "strong-buy," and increasing the target price from $59.00 to $73.00 in their report published last Wednesday. Royal Bank of Canada echoed this positive sentiment by reaffirming an "outperform" rating with a price target of $75.00 on January 28.

The analysis from 29 investment analysts shows a balance of opinions, with ten analysts suggesting a "hold" rating, eighteen advocating for "buy," and one issuing a "strong buy" rating. According to MarketBeat.com, Chipotle currently enjoys an average rating of "Moderate Buy" with a consensus price target of $66.56.

Chipotle's Stock Overview

Chipotle opened at $59.10 on Wednesday, with a market capitalization of $80.53 billion. The stock's PE ratio stands at 55.01, and its P/E/G ratio is 2.07, with a beta of 1.27. The company's 50-day simple moving average is $60.36, whereas its 200-day simple moving average is $57.84. Over the past year, Chipotle's stock has encountered a low of $47.98 and a high of $69.26.

Recently, Chipotle announced its earnings results for the quarter on February 4, revealing earnings per share of $0.25, surpassing analyst expectations of $0.24 by one cent. The company reported a net margin of 13.51% and a strong return on equity of 43.20%. Analysts project that Chipotle will post earnings of 1.11 per share for the current fiscal year.

Insider Transactions

In related news, insider Laurie Schalow sold 4,404 shares of Chipotle stock in a transaction on December 10, which was executed at an average price of $65.01. This sale totaled approximately $286,304, resulting in a 2.32% decrease in their holdings. After this transaction, Schalow retains ownership of around 185,792 shares, valued at roughly $12.08 million. Currently, insiders possess about 1.02% of the company's total stock.

Institutional Holdings

Institutional investors have been actively adjusting their positions in Chipotle. For instance, Alpha DNA Investment Management LLC increased its stake by 1.2% during the third quarter, holding 13,644 shares worth $786,000 after additional purchase of 168 shares. Similarly, Lecap Asset Management Ltd. also raised their stake by 1.2%, owning 14,625 shares valued at $843,000 after buying 175 more shares. Connable Office Inc. increased its holdings by 0.6%, acquiring 31,928 shares valued at $1.84 million after buying 178 shares. Furthermore, Albion Financial Group UT boosted its position by 14.4% during the same period, holding 1,430 shares worth $82,000 after making an additional purchase of 180 shares. Traynor Capital Management Inc. also increased its stake by 2.5%, now owning 7,522 shares with a total valuation of $454,000. Overall, institutional investors currently own 91.31% of Chipotle's stock.

Company Overview

Chipotle Mexican Grill, Inc., along with its subsidiaries, operates Chipotle restaurants that serve a variety of dishes, including burritos, burrito bowls, quesadillas, tacos, and salads. The company also provides delivery and associated services through its app and website, with operations spanning the United States, Canada, France, Germany, and the United Kingdom.

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