Chipotle Mexican Grill (NYSE:CMG) Price Target Increased to $3,300.00 by Analysts at Wells Fargo & Company

Chipotle Mexican Grill (NYSE:CMG) had its price objective lifted by equities research analysts at Wells Fargo & Company from $3,285.00 to $3,300.00 in a research note issued on Thursday, Benzinga reports. The firm currently has an “overweight” rating on the restaurant operator’s stock. Wells Fargo & Company‘s price objective indicates a potential upside of 8.82% from the stock’s current price.

A number of other brokerages have also issued reports on CMG. Morgan Stanley increased their target price on shares of Chipotle Mexican Grill from $2,500.00 to $2,986.00 and gave the company an “equal weight” rating in a research report on Friday, April 12th. Evercore ISI raised their price objective on shares of Chipotle Mexican Grill from $3,200.00 to $3,600.00 and gave the company an “outperform” rating in a research report on Thursday. Stifel Nicolaus raised their price objective on shares of Chipotle Mexican Grill from $2,700.00 to $3,270.00 and gave the company a “buy” rating in a research report on Thursday, April 11th. TD Cowen raised their price objective on shares of Chipotle Mexican Grill from $3,400.00 to $3,500.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Barclays raised their price objective on shares of Chipotle Mexican Grill from $2,246.00 to $2,400.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 7th. Eleven research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat, Chipotle Mexican Grill presently has an average rating of “Moderate Buy” and an average price target of $2,914.82.

Chipotle Mexican Grill Price Performance

Shares of CMG stock traded up $105.87 during trading hours on Thursday, reaching $3,032.63. The stock had a trading volume of 171,307 shares, compared to its average volume of 233,911. Chipotle Mexican Grill has a twelve month low of $1,768.64 and a twelve month high of $3,071.71. The firm has a 50-day simple moving average of $2,801.11 and a 200-day simple moving average of $2,411.76. The firm has a market capitalization of $83.15 billion, a PE ratio of 68.38, a price-to-earnings-growth ratio of 2.47 and a beta of 1.28.

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

Chipotle Mexican Grill (NYSE:CMG) last announced its earnings results on Wednesday, April 24th. The restaurant operator reported $13.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $11.63 by $1.74. The firm had revenue of $2.70 billion during the quarter, compared to analyst estimates of $2.67 billion. Chipotle Mexican Grill had a net margin of 12.45% and a return on equity of 44.41%. On average, equities analysts anticipate that Chipotle Mexican Grill will post 53.49 earnings per share for the current year.

Insider Activity at Chipotle Mexican Grill

In related news, CEO Brian R. Niccol sold 1,996 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief executive officer now owns 22,447 shares of the company’s stock, valued at $53,870,779.77. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Chipotle Mexican Grill news, Director Albert S. Baldocchi sold 750 shares of the stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $2,608.51, for a total transaction of $1,956,382.50. Following the transaction, the director now owns 37,271 shares in the company, valued at $97,221,776.21. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Brian R. Niccol sold 1,996 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now owns 22,447 shares in the company, valued at approximately $53,870,779.77. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 6,793 shares of company stock valued at $18,321,152. 0.96% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Chipotle Mexican Grill

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CMG. Steph & Co. acquired a new stake in shares of Chipotle Mexican Grill in the first quarter worth $29,000. Fortitude Family Office LLC acquired a new stake in Chipotle Mexican Grill during the fourth quarter worth $32,000. Turtle Creek Wealth Advisors LLC acquired a new stake in Chipotle Mexican Grill during the fourth quarter worth $37,000. ICA Group Wealth Management LLC bought a new position in shares of Chipotle Mexican Grill during the fourth quarter valued at $37,000. Finally, Annis Gardner Whiting Capital Advisors LLC bought a new position in shares of Chipotle Mexican Grill during the third quarter valued at $38,000. 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.