Wells Fargo & Company Cuts Chipotle Mexican Grill (NYSE:CMG) Price Target to $70.00

Chipotle Mexican Grill (NYSE:CMG) had its target price lowered by Wells Fargo & Company from $75.00 to $70.00 in a research note published on Wednesday morning,Benzinga reports. The firm currently has an overweight rating on the restaurant operator’s stock.

CMG has been the subject of a number of other research reports. Royal Bank of Canada restated an “outperform” rating and issued a $75.00 price target on shares of Chipotle Mexican Grill in a research report on Tuesday, January 28th. TD Cowen increased their target price on shares of Chipotle Mexican Grill from $65.00 to $68.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Truist Financial lifted their price target on shares of Chipotle Mexican Grill from $72.00 to $74.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. KeyCorp reduced their price objective on shares of Chipotle Mexican Grill from $66.00 to $64.00 and set an “overweight” rating for the company in a research note on Wednesday. Finally, Robert W. Baird lifted their target price on shares of Chipotle Mexican Grill from $62.00 to $70.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Ten investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $66.31.

Chipotle Mexican Grill Trading Down 0.1 %

Shares of CMG stock opened at $57.29 on Wednesday. Chipotle Mexican Grill has a 12 month low of $47.98 and a 12 month high of $69.26. The stock has a market cap of $78.06 billion, a P/E ratio of 53.32, a P/E/G ratio of 2.07 and a beta of 1.27. The company has a 50 day simple moving average of $60.17 and a two-hundred day simple moving average of $57.83.

Chipotle Mexican Grill (NYSE:CMG) last issued its quarterly earnings data on Tuesday, February 4th. The restaurant operator reported $0.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.01. Chipotle Mexican Grill had a net margin of 13.51% and a return on equity of 43.20%. As a group, equities analysts forecast that Chipotle Mexican Grill will post 1.11 earnings per share for the current year.

Insider Activity

In other news, insider Laurie Schalow sold 4,404 shares of the business’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $65.01, for a total transaction of $286,304.04. Following the transaction, the insider now owns 185,792 shares of the company’s stock, valued at approximately $12,078,337.92. The trade was a 2.32 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.02% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Hantz Financial Services Inc. lifted its holdings in shares of Chipotle Mexican Grill by 5,897.8% in the 3rd quarter. Hantz Financial Services Inc. now owns 48,942 shares of the restaurant operator’s stock worth $2,820,000 after acquiring an additional 48,126 shares during the last quarter. L & S Advisors Inc bought a new stake in Chipotle Mexican Grill in the third quarter worth about $3,256,000. Optas LLC boosted its position in shares of Chipotle Mexican Grill by 318.5% during the third quarter. Optas LLC now owns 17,160 shares of the restaurant operator’s stock valued at $989,000 after buying an additional 13,060 shares during the period. Lockheed Martin Investment Management Co. boosted its position in shares of Chipotle Mexican Grill by 19.6% during the fourth quarter. Lockheed Martin Investment Management Co. now owns 177,630 shares of the restaurant operator’s stock valued at $10,711,000 after buying an additional 29,140 shares during the period. Finally, Harrell Investment Partners LLC bought a new position in shares of Chipotle Mexican Grill during the fourth quarter valued at approximately $2,513,000. 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.