Wells Fargo & Company Boosts Chipotle Mexican Grill (NYSE:CMG) Price Target to $3,300.00

Chipotle Mexican Grill (NYSE:CMG) had its price target lifted by Wells Fargo & Company from $3,285.00 to $3,300.00 in a research report report published on Thursday, Benzinga reports. The brokerage currently has an overweight rating on the restaurant operator’s stock.

A number of other brokerages have also weighed in on CMG. Wedbush increased their price objective on Chipotle Mexican Grill from $2,850.00 to $3,200.00 and gave the company a neutral rating in a report on Thursday. Raymond James lifted their price objective on shares of Chipotle Mexican Grill from $2,450.00 to $2,550.00 and gave the company an outperform rating in a research note on Thursday, January 25th. Jefferies Financial Group raised their target price on shares of Chipotle Mexican Grill from $2,350.00 to $2,700.00 and gave the stock a hold rating in a report on Tuesday, April 16th. Barclays increased their price target on Chipotle Mexican Grill from $2,246.00 to $2,400.00 and gave the stock an equal weight rating in a research report on Wednesday, February 7th. Finally, BMO Capital Markets raised their target price on Chipotle Mexican Grill from $2,100.00 to $2,400.00 and gave the stock a market perform rating in a report on Wednesday, February 7th. Ten equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of Moderate Buy and an average price target of $3,137.12.

Chipotle Mexican Grill Stock Performance

Shares of NYSE CMG opened at $3,186.97 on Thursday. Chipotle Mexican Grill has a fifty-two week low of $1,768.64 and a fifty-two week high of $3,199.99. The company has a market cap of $87.55 billion, a PE ratio of 68.01, a P/E/G ratio of 2.67 and a beta of 1.28. The business has a 50-day simple moving average of $2,822.95 and a two-hundred day simple moving average of $2,430.22.

Shares of Chipotle Mexican Grill are set to split before the market opens on Wednesday, June 26th. The 50-1 split was announced on Tuesday, March 19th. The newly created shares will be payable to shareholders after the closing bell on Tuesday, June 25th.

Chipotle Mexican Grill (NYSE:CMG) last posted its quarterly earnings results on Wednesday, April 24th. The restaurant operator reported $13.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $11.63 by $1.74. Chipotle Mexican Grill had a net margin of 12.70% and a return on equity of 43.74%. The business had revenue of $2.70 billion during the quarter, compared to analysts’ expectations of $2.67 billion. On average, sell-side analysts predict that Chipotle Mexican Grill will post 55.08 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Christopher W. Brandt sold 3,149 shares of the firm’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $2,927.84, for a total value of $9,219,768.16. Following the transaction, the insider now owns 8,563 shares in the company, valued at $25,071,093.92. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, insider Christopher W. Brandt sold 3,149 shares of the stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $2,927.84, for a total value of $9,219,768.16. Following the completion of the sale, the insider now directly owns 8,563 shares in the company, valued at $25,071,093.92. 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 dated Monday, January 29th. The stock was sold at an average price of $2,399.91, for a total transaction of $4,790,220.36. Following the transaction, the chief executive officer now owns 22,447 shares in the company, valued at $53,870,779.77. The disclosure for this sale can be found here. In the last three months, insiders have sold 6,793 shares of company stock worth $18,321,152. Insiders own 0.96% of the company’s stock.

Institutional Investors Weigh In On Chipotle Mexican Grill

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. IFP Advisors Inc grew its holdings in Chipotle Mexican Grill by 13.6% in the 3rd quarter. IFP Advisors Inc now owns 134 shares of the restaurant operator’s stock valued at $245,000 after buying an additional 16 shares in the last quarter. Flagship Harbor Advisors LLC acquired a new stake in Chipotle Mexican Grill during the third quarter worth about $203,000. DAVENPORT & Co LLC raised its stake in Chipotle Mexican Grill by 9.4% during the third quarter. DAVENPORT & Co LLC now owns 291 shares of the restaurant operator’s stock worth $533,000 after purchasing an additional 25 shares during the period. Meridian Wealth Management LLC boosted its holdings in Chipotle Mexican Grill by 291.2% in the 3rd quarter. Meridian Wealth Management LLC now owns 442 shares of the restaurant operator’s stock valued at $810,000 after purchasing an additional 329 shares during the last quarter. Finally, Caprock Group LLC grew its stake in shares of Chipotle Mexican Grill by 4.0% in the 3rd quarter. Caprock Group LLC now owns 208 shares of the restaurant operator’s stock valued at $381,000 after buying an additional 8 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.