Chipotle Mexican Grill (NYSE:CMG) PT Raised to $3,300.00 at Wells Fargo & Company

Chipotle Mexican Grill (NYSE:CMG) had its price target raised by analysts at Wells Fargo & Company from $3,285.00 to $3,300.00 in a research report issued on Thursday, Benzinga reports. The firm presently has an “overweight” rating on the restaurant operator’s stock. Wells Fargo & Company‘s target price would indicate a potential upside of 3.47% from the stock’s current price.

A number of other research firms also recently weighed in on CMG. Robert W. Baird lifted their target price on Chipotle Mexican Grill from $3,250.00 to $3,500.00 and gave the stock an “outperform” rating in a research report on Thursday. Raymond James lifted their target price on Chipotle Mexican Grill from $2,450.00 to $2,550.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. Wedbush lifted their target price on Chipotle Mexican Grill from $2,850.00 to $3,200.00 and gave the stock a “neutral” rating in a research report on Thursday. Piper Sandler lifted their price objective on Chipotle Mexican Grill from $2,442.00 to $3,070.00 and gave the company a “neutral” rating in a report on Thursday. Finally, Truist Financial lifted their price objective on Chipotle Mexican Grill from $2,700.00 to $2,920.00 and gave the company a “buy” rating in a report on Wednesday, February 7th. Ten analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $3,137.12.

Chipotle Mexican Grill Stock Performance

Chipotle Mexican Grill stock opened at $3,189.40 on Thursday. The business’s 50-day simple moving average is $2,822.95 and its 200-day simple moving average is $2,426.07. The firm has a market capitalization of $87.60 billion, a PE ratio of 68.06, a PEG ratio of 2.48 and a beta of 1.28. Chipotle Mexican Grill has a 52 week low of $1,768.64 and a 52 week high of $3,199.99.

Chipotle Mexican Grill’s stock is scheduled to split on the morning of Wednesday, June 26th. The 50-1 split was announced on Tuesday, March 19th. The newly issued shares will be distributed to shareholders after the closing bell on Tuesday, June 25th.

Chipotle Mexican Grill (NYSE:CMG) last released its earnings results on Wednesday, April 24th. The restaurant operator reported $13.37 earnings per share for the quarter, topping analysts’ consensus estimates of $11.63 by $1.74. Chipotle Mexican Grill had a return on equity of 45.46% and a net margin of 12.70%. The business had revenue of $2.70 billion for the quarter, compared to the consensus estimate of $2.67 billion. Research analysts forecast that Chipotle Mexican Grill will post 53.49 earnings per share for the current year.

Insider Buying and Selling at Chipotle Mexican Grill

In other news, CEO Brian R. Niccol sold 1,996 shares of the business’s stock in a transaction on 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 completion of the transaction, the chief executive officer now owns 22,447 shares of the company’s stock, valued at approximately $53,870,779.77. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, insider Roger E. Theodoredis sold 898 shares of the business’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $2,622.25, for a total value of $2,354,780.50. Following the completion of the transaction, the insider now owns 1,529 shares of the company’s stock, valued at approximately $4,009,420.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Brian R. Niccol sold 1,996 shares of the business’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $2,399.91, for a total transaction of $4,790,220.36. Following the completion of the transaction, the chief executive officer now directly owns 22,447 shares of the company’s stock, valued at approximately $53,870,779.77. The disclosure for this sale can be found here. In the last 90 days, insiders sold 6,793 shares of company stock worth $18,321,152. Insiders own 0.96% of the company’s stock.

Hedge Funds Weigh In On Chipotle Mexican Grill

Several institutional investors and hedge funds have recently made changes to their positions in CMG. Northwest Bancshares Inc. acquired a new position in Chipotle Mexican Grill in the 1st quarter worth $331,000. SlateStone Wealth LLC acquired a new position in Chipotle Mexican Grill in the 1st quarter worth $265,000. Mesirow Financial Investment Management Inc. acquired a new position in Chipotle Mexican Grill in the 1st quarter worth $230,000. Emerald Advisors LLC acquired a new position in Chipotle Mexican Grill in the 1st quarter worth $872,000. Finally, Meridian Wealth Management LLC boosted its stake in Chipotle Mexican Grill by 4.0% in the 1st quarter. Meridian Wealth Management LLC now owns 234 shares of the restaurant operator’s stock worth $680,000 after purchasing an additional 9 shares during the period. Institutional investors and hedge funds own 91.31% of the company’s stock.

About Chipotle Mexican Grill

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.