Wells Fargo & Company Begins Coverage on Chipotle Mexican Grill (NYSE:CMG)

Wells Fargo & Company initiated coverage on shares of Chipotle Mexican Grill (NYSE:CMG – Get Rating) in a report issued on Monday, The Fly reports. The brokerage issued an overweight rating on the restaurant operator’s stock.

A number of other equities research analysts also recently issued reports on the stock. Stephens reduced their price objective on shares of Chipotle Mexican Grill from $1,900.00 to $1,760.00 and set an overweight rating on the stock in a research note on Wednesday, October 26th. StockNews.com upgraded shares of Chipotle Mexican Grill from a hold rating to a buy rating in a research report on Tuesday, January 17th. Barclays cut their target price on shares of Chipotle Mexican Grill from $1,510.00 to $1,450.00 and set an equal weight rating on the stock in a research report on Thursday, January 5th. KeyCorp raised their price target on shares of Chipotle Mexican Grill from $1,750.00 to $1,800.00 and gave the stock an overweight rating in a report on Wednesday, October 26th. Finally, Morgan Stanley lowered shares of Chipotle Mexican Grill from an overweight rating to an equal weight rating and lowered their price target for the stock from $1,847.00 to $1,664.00 in a report on Tuesday, January 17th. Five equities research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average price target of $1,812.33.

Chipotle Mexican Grill Stock Performance

NYSE:CMG opened at $1,597.35 on Monday. Chipotle Mexican Grill has a 52 week low of $1,196.28 and a 52 week high of $1,754.56. The firm has a market cap of $44.28 billion, a price-to-earnings ratio of 55.60, a P/E/G ratio of 1.36 and a beta of 1.26. The firm’s 50-day simple moving average is $1,487.81 and its 200 day simple moving average is $1,521.43.

Chipotle Mexican Grill (NYSE:CMG – Get Rating) last released its quarterly earnings results on Tuesday, October 25th. The restaurant operator reported $9.51 EPS for the quarter, topping analysts’ consensus estimates of $9.11 by $0.40. The business had revenue of $2.22 billion for the quarter, compared to analyst estimates of $2.23 billion. Chipotle Mexican Grill had a net margin of 9.61% and a return on equity of 38.03%. Sell-side analysts anticipate that Chipotle Mexican Grill will post 33.34 EPS for the current year.

Institutional Investors Weigh In On Chipotle Mexican Grill

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. FourThought Financial LLC increased its position in shares of Chipotle Mexican Grill by 350.0% during the third quarter. FourThought Financial LLC now owns 18 shares of the restaurant operator’s stock valued at $27,000 after buying an additional 14 shares during the period. Global Wealth Strategies & Associates bought a new stake in shares of Chipotle Mexican Grill during the fourth quarter valued at about $36,000. Byrne Asset Management LLC increased its position in shares of Chipotle Mexican Grill by 52.6% during the second quarter. Byrne Asset Management LLC now owns 29 shares of the restaurant operator’s stock valued at $38,000 after buying an additional 10 shares during the period. Worth Asset Management LLC bought a new stake in shares of Chipotle Mexican Grill during the first quarter valued at about $44,000. Finally, Private Trust Co. NA bought a new stake in shares of Chipotle Mexican Grill during the second quarter valued at about $47,000. 93.26% of the stock is currently owned by institutional investors.

Chipotle Mexican Grill Company Profile

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Chipotle Mexican Grill, Inc, together with its subsidiaries, owns and operates Chipotle Mexican Grill restaurants. As of September 30, 2022, it owned and operated approximately 3,100 restaurants in the United States, Canada, the United Kingdom, France, Germany, and rest of Europe. The company was founded in 1993 and is headquartered in Newport Beach, California.