Wells Fargo & Company Forecasts Strong Price Appreciation for Chipotle Mexican Grill (NYSE:CMG) Stock

Chipotle Mexican Grill (NYSE:CMG) had its price objective upped by Wells Fargo & Company from $66.00 to $67.00 in a report issued on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the restaurant operator’s stock. Wells Fargo & Company‘s target price would suggest a potential upside of 20.14% from the company’s current price.

CMG has been the topic of a number of other research reports. TD Cowen restated a “buy” rating and set a $65.00 price target on shares of Chipotle Mexican Grill in a research note on Thursday, September 12th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $67.00 price target on shares of Chipotle Mexican Grill in a research report on Wednesday, August 14th. Wedbush reissued an “outperform” rating and issued a $58.00 price objective on shares of Chipotle Mexican Grill in a report on Thursday, August 29th. Piper Sandler raised their price objective on Chipotle Mexican Grill from $56.00 to $59.00 and gave the stock a “neutral” rating in a research note on Friday, October 11th. Finally, Raymond James dropped their target price on Chipotle Mexican Grill from $70.00 to $62.50 and set an “outperform” rating on the stock in a research report on Thursday, July 25th. Ten equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $64.47.

Chipotle Mexican Grill Price Performance

Shares of CMG stock opened at $55.77 on Wednesday. The stock’s fifty day moving average price is $57.18 and its 200 day moving average price is $81.14. Chipotle Mexican Grill has a 1-year low of $38.01 and a 1-year high of $69.26. The company has a market cap of $76.38 billion, a price-to-earnings ratio of 54.68, a price-to-earnings-growth ratio of 2.41 and a beta of 1.25.

Chipotle Mexican Grill (NYSE:CMG) last issued 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 analyst estimates 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% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.23 earnings per share. As a group, equities research analysts anticipate that Chipotle Mexican Grill will post 1.08 earnings per share for the current year.

Insider Buying and Selling

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

Institutional Investors Weigh In On Chipotle Mexican Grill

A number of large investors have recently modified their holdings of CMG. Valley National Advisers Inc. grew its stake in Chipotle Mexican Grill by 9.8% during the 1st quarter. Valley National Advisers Inc. now owns 45 shares of the restaurant operator’s stock valued at $131,000 after acquiring an additional 4 shares in the last quarter. Scott & Selber Inc. grew its position in shares of Chipotle Mexican Grill by 0.6% in the first quarter. Scott & Selber Inc. now owns 720 shares of the restaurant operator’s stock valued at $2,093,000 after purchasing an additional 4 shares in the last quarter. Quent Capital LLC increased its holdings in shares of Chipotle Mexican Grill by 2.0% in the first quarter. Quent Capital LLC now owns 206 shares of the restaurant operator’s stock valued at $599,000 after purchasing an additional 4 shares during the last quarter. First National Bank of Hutchinson lifted its position in Chipotle Mexican Grill by 1.1% during the first quarter. First National Bank of Hutchinson now owns 378 shares of the restaurant operator’s stock worth $1,099,000 after buying an additional 4 shares in the last quarter. Finally, Pacific Center for Financial Services lifted its position in Chipotle Mexican Grill by 8.0% during the first quarter. Pacific Center for Financial Services now owns 54 shares of the restaurant operator’s stock worth $157,000 after buying an additional 4 shares in the last quarter. 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.