Chipotle Mexican Grill (NYSE:CMG) Price Target Increased to $3,300.00 by Analysts at Wells Fargo & Company

Chipotle Mexican Grill (NYSE:CMG) had its price target hoisted by research analysts at Wells Fargo & Company from $3,285.00 to $3,300.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage currently has an “overweight” rating on the restaurant operator’s stock. Wells Fargo & Company‘s price objective would suggest a potential upside of 8.82% from the company’s previous close.

Several other equities analysts also recently commented on CMG. BMO Capital Markets upped their price target on shares of Chipotle Mexican Grill from $2,100.00 to $2,400.00 and gave the company a “market perform” rating in a report on Wednesday, February 7th. Morgan Stanley upped their price target on shares of Chipotle Mexican Grill from $2,500.00 to $2,986.00 and gave the company an “equal weight” rating in a report on Friday, April 12th. BTIG Research upped their price target on shares of Chipotle Mexican Grill from $2,750.00 to $3,250.00 and gave the company a “buy” rating in a report on Thursday, March 28th. UBS Group upped their price target on shares of Chipotle Mexican Grill from $2,900.00 to $3,400.00 and gave the company a “buy” rating in a report on Thursday, April 11th. Finally, Raymond James upped their target price on shares of Chipotle Mexican Grill from $2,450.00 to $2,550.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. Eleven investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $2,914.82.

Chipotle Mexican Grill Price Performance

Shares of NYSE CMG traded up $105.87 during mid-day trading on Thursday, hitting $3,032.63. 171,307 shares of the company’s stock traded hands, compared to its average volume of 233,911. The company’s 50-day moving average is $2,801.11 and its two-hundred day moving average is $2,411.76. The company has a market capitalization of $83.15 billion, a P/E ratio of 68.38, a PEG ratio of 2.47 and a beta of 1.28. Chipotle Mexican Grill has a 1 year low of $1,768.64 and a 1 year high of $3,071.71.

Shares of Chipotle Mexican Grill are set to split on the morning of Wednesday, June 26th. The 50-1 split was announced on Tuesday, March 19th. The newly minted shares will be distributed to shareholders after the market closes on Tuesday, June 25th.

Chipotle Mexican Grill (NYSE:CMG) last announced its earnings results on Wednesday, April 24th. The restaurant operator reported $13.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $11.63 by $1.74. The firm had revenue of $2.70 billion for the quarter, compared to analysts’ expectations of $2.67 billion. Chipotle Mexican Grill had a net margin of 12.45% and a return on equity of 44.41%. Equities analysts anticipate that Chipotle Mexican Grill will post 53.49 EPS for the current fiscal year.

Insider Activity

In other news, CEO Brian R. Niccol sold 1,996 shares of Chipotle Mexican Grill stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $2,399.91, for a total value of $4,790,220.36. Following the sale, the chief executive officer now owns 22,447 shares in the company, valued at $53,870,779.77. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CEO Brian R. Niccol sold 1,996 shares of the firm’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $2,399.91, for a total value of $4,790,220.36. Following the transaction, the chief executive officer now directly owns 22,447 shares of the company’s stock, valued at $53,870,779.77. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Albert S. Baldocchi sold 750 shares of the firm’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $2,608.51, for a total transaction of $1,956,382.50. Following the completion of the transaction, the director now directly owns 37,271 shares in the company, valued at $97,221,776.21. The disclosure for this sale can be found here. Insiders have sold a total of 6,793 shares of company stock worth $18,321,152 over the last 90 days. 0.96% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Chipotle Mexican Grill

Hedge funds and other institutional investors have recently modified their holdings of the business. Steph & Co. purchased a new position in shares of Chipotle Mexican Grill in the first quarter worth about $29,000. Fortitude Family Office LLC purchased a new position in shares of Chipotle Mexican Grill in the fourth quarter worth about $32,000. Turtle Creek Wealth Advisors LLC purchased a new position in Chipotle Mexican Grill during the fourth quarter worth about $37,000. ICA Group Wealth Management LLC purchased a new position in Chipotle Mexican Grill during the fourth quarter worth about $37,000. Finally, Annis Gardner Whiting Capital Advisors LLC purchased a new position in Chipotle Mexican Grill during the third quarter worth about $38,000. 91.31% of the stock is owned by hedge funds and other institutional investors.

Chipotle Mexican Grill Company Profile

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.