Chipotle Mexican Grill (NYSE:CMG) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Chipotle Mexican Grill (NYSE:CMG) had its price target upped by stock analysts at Wells Fargo & Company from $66.00 to $67.00 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has an “overweight” rating on the restaurant operator’s stock. Wells Fargo & Company‘s price target would indicate a potential upside of 17.96% from the stock’s current price.

Several other brokerages also recently issued reports on CMG. Stifel Nicolaus reaffirmed a “buy” rating and issued a $70.00 price target on shares of Chipotle Mexican Grill in a report on Wednesday, August 14th. Evercore ISI upped their target price on Chipotle Mexican Grill from $59.00 to $70.00 and gave the company an “outperform” rating in a research note on Tuesday, October 15th. Guggenheim raised their price target on Chipotle Mexican Grill from $54.50 to $55.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th. Truist Financial upped their price objective on Chipotle Mexican Grill from $71.00 to $72.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, TD Cowen reiterated a “buy” rating and set a $65.00 price objective on shares of Chipotle Mexican Grill in a research report on Thursday, September 12th. Ten equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $63.62.

Chipotle Mexican Grill Stock Performance

CMG stock traded down $3.69 during trading on Wednesday, reaching $56.80. 12,795,574 shares of the company were exchanged, compared to its average volume of 13,926,801. The stock’s 50 day moving average price is $57.10 and its 200 day moving average price is $81.50. Chipotle Mexican Grill has a 52-week low of $38.01 and a 52-week high of $69.26. The company has a market cap of $77.79 billion, a P/E ratio of 55.48, a PEG ratio of 2.41 and a beta of 1.25.

Chipotle Mexican Grill (NYSE:CMG) last released its quarterly earnings results on Tuesday, October 29th. The restaurant operator reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.02. The business had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.82 billion. Chipotle Mexican Grill had a return on equity of 44.01% and a net margin of 13.23%. The company’s revenue was up 13.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.23 EPS. As a group, equities research analysts forecast that Chipotle Mexican Grill will post 1.08 EPS for the current year.

Insider Activity at Chipotle Mexican Grill

In other news, insider Curtis E. Garner sold 17,394 shares of the company’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $54.68, for a total value of $951,103.92. Following the completion of the sale, the insider now owns 358,300 shares of the company’s stock, valued at $19,591,844. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Chipotle Mexican Grill news, insider Curtis E. Garner sold 15,750 shares of the company’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $55.02, for a total value of $866,565.00. Following the completion of the transaction, the insider now directly owns 473,514 shares of the company’s stock, valued at $26,052,740.28. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Curtis E. Garner sold 17,394 shares of Chipotle Mexican Grill stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $54.68, for a total value of $951,103.92. Following the sale, the insider now directly owns 358,300 shares in the company, valued at approximately $19,591,844. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 50,684 shares of company stock worth $2,817,127. Corporate insiders own 1.02% of the company’s stock.

Institutional Investors Weigh In On Chipotle Mexican Grill

A number of hedge funds have recently bought and sold shares of CMG. American Century Companies Inc. boosted its stake in shares of Chipotle Mexican Grill by 4,732.3% during the 2nd quarter. American Century Companies Inc. now owns 20,177,309 shares of the restaurant operator’s stock valued at $1,264,109,000 after buying an additional 19,759,754 shares during the last quarter. Legal & General Group Plc raised its holdings in Chipotle Mexican Grill by 5,209.5% in the second quarter. Legal & General Group Plc now owns 10,935,669 shares of the restaurant operator’s stock valued at $685,128,000 after acquiring an additional 10,729,706 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in Chipotle Mexican Grill by 5,930.8% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 10,310,132 shares of the restaurant operator’s stock valued at $645,930,000 after acquiring an additional 10,139,174 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in Chipotle Mexican Grill by 4,816.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 8,356,173 shares of the restaurant operator’s stock worth $523,514,000 after acquiring an additional 8,186,198 shares in the last quarter. Finally, Marshall Wace LLP increased its position in shares of Chipotle Mexican Grill by 76,617.6% in the 2nd quarter. Marshall Wace LLP now owns 5,904,952 shares of the restaurant operator’s stock worth $369,945,000 after purchasing an additional 5,897,255 shares during the last quarter. Institutional investors and hedge funds own 91.31% of the company’s stock.

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.