Chipotle Mexican Grill (NYSE:CMG) Given New $2,800.00 Price Target at Wells Fargo & Company

Chipotle Mexican Grill (NYSE:CMGFree Report) had its price objective boosted by Wells Fargo & Company from $2,600.00 to $2,800.00 in a research note released on Wednesday, Benzinga reports. Wells Fargo & Company currently has an overweight rating on the restaurant operator’s stock.

Other research analysts have also recently issued research reports about the company. Citigroup boosted their price target on Chipotle Mexican Grill from $2,292.00 to $2,699.00 and gave the stock a buy rating in a research note on Wednesday, January 24th. Royal Bank of Canada boosted their price target on Chipotle Mexican Grill from $2,185.00 to $2,425.00 and gave the stock an outperform rating in a research note on Friday, December 1st. Wedbush cut Chipotle Mexican Grill from an outperform rating to a neutral rating and set a $2,400.00 price target for the company. in a research note on Thursday, December 21st. BTIG Research lifted their price objective on Chipotle Mexican Grill from $2,650.00 to $2,750.00 and gave the stock a buy rating in a report on Wednesday. Finally, Robert W. Baird reaffirmed an outperform rating and issued a $2,650.00 price objective on shares of Chipotle Mexican Grill in a report on Monday, January 22nd. Nine analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average price target of $2,438.41.

View Our Latest Research Report on CMG

Chipotle Mexican Grill Stock Performance

Shares of CMG stock opened at $2,663.02 on Wednesday. The firm has a market cap of $73.07 billion, a P/E ratio of 63.16, a P/E/G ratio of 1.82 and a beta of 1.29. Chipotle Mexican Grill has a fifty-two week low of $1,470.05 and a fifty-two week high of $2,725.83. The business’s 50 day moving average price is $2,310.02 and its 200-day moving average price is $2,072.70.

Chipotle Mexican Grill (NYSE:CMGGet Free Report) last released its quarterly earnings results on Tuesday, February 6th. The restaurant operator reported $10.36 earnings per share for the quarter, beating the consensus estimate of $9.73 by $0.63. Chipotle Mexican Grill had a return on equity of 45.26% and a net margin of 12.27%. The company had revenue of $2.52 billion for the quarter, compared to analyst estimates of $2.49 billion. During the same period in the previous year, the company posted $8.29 earnings per share. The firm’s revenue was up 15.4% on a year-over-year basis. As a group, equities analysts predict that Chipotle Mexican Grill will post 44.16 EPS for the current year.

Insider Transactions at Chipotle Mexican Grill

In other news, CEO Brian R. Niccol sold 1,100 shares of the stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $2,278.45, for a total value of $2,506,295.00. Following the sale, the chief executive officer now directly owns 22,447 shares in the company, valued at $51,144,367.15. The sale was disclosed in a document filed with the SEC, which is available at this link. In other Chipotle Mexican Grill news, CEO Brian R. Niccol sold 1,100 shares of the stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $2,278.45, for a total transaction of $2,506,295.00. Following the sale, the chief executive officer now owns 22,447 shares of the company’s stock, valued at approximately $51,144,367.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Brian R. Niccol sold 1,093 shares of the stock in a transaction on Friday, December 1st. The shares were sold at an average price of $2,199.81, for a total value of $2,404,392.33. Following the sale, the chief executive officer now owns 23,347 shares of the company’s stock, valued at approximately $51,358,964.07. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,189 shares of company stock worth $9,700,908. 0.96% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Chipotle Mexican Grill

Several institutional investors have recently bought and sold shares of the company. BlackRock Inc. boosted its holdings in Chipotle Mexican Grill by 2.7% in the 2nd quarter. BlackRock Inc. now owns 2,052,227 shares of the restaurant operator’s stock worth $4,389,714,000 after buying an additional 54,820 shares during the last quarter. State Street Corp boosted its holdings in shares of Chipotle Mexican Grill by 4.1% during the 2nd quarter. State Street Corp now owns 1,085,226 shares of the restaurant operator’s stock worth $2,321,298,000 after purchasing an additional 42,257 shares during the last quarter. Capital World Investors boosted its holdings in shares of Chipotle Mexican Grill by 5.3% during the 2nd quarter. Capital World Investors now owns 1,038,882 shares of the restaurant operator’s stock worth $2,222,169,000 after purchasing an additional 52,163 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Chipotle Mexican Grill by 1.7% during the 1st quarter. Geode Capital Management LLC now owns 565,479 shares of the restaurant operator’s stock worth $963,779,000 after purchasing an additional 9,520 shares during the last quarter. Finally, Artisan Partners Limited Partnership boosted its holdings in shares of Chipotle Mexican Grill by 1.5% during the 3rd quarter. Artisan Partners Limited Partnership now owns 509,953 shares of the restaurant operator’s stock worth $934,147,000 after purchasing an additional 7,677 shares during the last quarter. 91.19% of the stock is currently owned by institutional investors and hedge funds.

Chipotle Mexican Grill Company Profile

(Get Free Report)

Chipotle Mexican Grill, Inc, together with its subsidiaries, owns and operates Chipotle Mexican Grill restaurants. It offers burritos, burrito bowls, quesadillas, tacos, and salads. 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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