Chipotle Mexican Grill (NYSE:CMG) Given New $75.00 Price Target at Wells Fargo & Company

Chipotle Mexican Grill (NYSE:CMG) had its price target increased by Wells Fargo & Company from $67.00 to $75.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the restaurant operator’s stock. Wells Fargo & Company‘s price target suggests a potential upside of 16.06% from the stock’s previous close.

A number of other analysts also recently commented on the company. Stephens reiterated an “equal weight” rating and set a $65.00 target price on shares of Chipotle Mexican Grill in a research report on Tuesday, November 12th. Royal Bank of Canada initiated coverage on shares of Chipotle Mexican Grill in a research report on Friday, November 15th. They issued an “outperform” rating and a $70.00 price objective on the stock. TD Cowen raised their target price on shares of Chipotle Mexican Grill from $65.00 to $68.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Piper Sandler upped their price target on shares of Chipotle Mexican Grill from $59.00 to $60.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Finally, Stifel Nicolaus reissued a “buy” rating and set a $70.00 price objective on shares of Chipotle Mexican Grill in a research note on Wednesday, August 14th. 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.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $65.71.

Chipotle Mexican Grill Stock Down 2.3 %

Shares of CMG opened at $64.62 on Thursday. Chipotle Mexican Grill has a 52-week low of $44.08 and a 52-week high of $69.26. The company has a 50-day simple moving average of $60.20 and a 200-day simple moving average of $80.93. The company has a market capitalization of $88.05 billion, a PE ratio of 60.39, a P/E/G ratio of 2.64 and a beta of 1.27.

Chipotle Mexican Grill (NYSE:CMG) last issued its earnings results on Tuesday, October 29th. The restaurant operator reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.02. The company had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $2.82 billion. Chipotle Mexican Grill had a net margin of 13.51% and a return on equity of 43.20%. The firm’s quarterly revenue was up 13.0% compared to the same quarter last year. During the same period last year, the company posted $0.23 earnings per share. On average, research analysts anticipate that Chipotle Mexican Grill will post 1.11 EPS for the current year.

Insiders Place Their Bets

In other news, insider Curtis E. Garner sold 15,750 shares of the firm’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $57.05, for a total value of $898,537.50. Following the transaction, the insider now directly owns 457,764 shares in the company, valued at $26,115,436.20. This trade represents a 3.33 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Laurie Schalow sold 4,404 shares of Chipotle Mexican Grill stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $65.01, for a total value of $286,304.04. Following the completion of the transaction, the insider now directly owns 185,792 shares in the company, valued at $12,078,337.92. This represents a 2.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.02% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of CMG. RiverPark Advisors LLC increased its position in shares of Chipotle Mexican Grill by 4,900.0% in the second quarter. RiverPark Advisors LLC now owns 400 shares of the restaurant operator’s stock worth $25,000 after acquiring an additional 392 shares in the last quarter. Archer Investment Corp acquired a new stake in Chipotle Mexican Grill in the 2nd quarter valued at $25,000. Oliver Lagore Vanvalin Investment Group raised its position in Chipotle Mexican Grill by 4,900.0% in the second quarter. Oliver Lagore Vanvalin Investment Group now owns 400 shares of the restaurant operator’s stock valued at $25,000 after purchasing an additional 392 shares during the period. Chilton Capital Management LLC acquired a new position in shares of Chipotle Mexican Grill during the second quarter worth about $27,000. Finally, MCF Advisors LLC boosted its position in shares of Chipotle Mexican Grill by 5,525.0% in the second quarter. MCF Advisors LLC now owns 450 shares of the restaurant operator’s stock worth $28,000 after buying an additional 442 shares during the period. Hedge funds and other institutional investors 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.