Chipotle Mexican Grill (NYSE:CMG) Price Target Cut to $70.00 by Analysts at Wells Fargo & Company

Chipotle Mexican Grill (NYSE:CMG) had its target price cut by Wells Fargo & Company from $75.00 to $70.00 in a research note published on Wednesday,Benzinga reports. They currently have an overweight rating on the restaurant operator’s stock.

Several other equities analysts have also recently weighed in on CMG. BMO Capital Markets increased their price objective on shares of Chipotle Mexican Grill from $55.00 to $56.00 and gave the stock a “market perform” rating in a research note on Wednesday, October 30th. KeyCorp decreased their price target on shares of Chipotle Mexican Grill from $66.00 to $64.00 and set an “overweight” rating on the stock in a research report on Wednesday. TD Cowen lifted their target price on Chipotle Mexican Grill from $65.00 to $68.00 and gave the company a “buy” rating in a research 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 stock a “neutral” rating in a research report on Wednesday, October 30th. Finally, Robert W. Baird upped their price objective on Chipotle Mexican Grill from $62.00 to $70.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Ten analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Chipotle Mexican Grill presently has an average rating of “Moderate Buy” and a consensus target price of $66.31.

Chipotle Mexican Grill Trading Down 2.5 %

NYSE:CMG opened at $57.54 on Wednesday. The company has a market cap of $78.41 billion, a PE ratio of 53.56, a price-to-earnings-growth ratio of 2.07 and a beta of 1.27. The company has a 50 day simple moving average of $60.36 and a two-hundred day simple moving average of $57.84. Chipotle Mexican Grill has a 12 month low of $47.98 and a 12 month high of $69.26.

Chipotle Mexican Grill (NYSE:CMG) last issued its quarterly earnings data on Tuesday, February 4th. The restaurant operator reported $0.25 EPS for the quarter, topping the consensus estimate of $0.24 by $0.01. Chipotle Mexican Grill had a return on equity of 43.20% and a net margin of 13.51%. Research analysts forecast that Chipotle Mexican Grill will post 1.11 earnings per share for the current year.

Insider Activity at Chipotle Mexican Grill

In other Chipotle Mexican Grill news, insider Laurie Schalow sold 4,404 shares of the firm’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $65.01, for a total transaction of $286,304.04. Following the transaction, the insider now directly owns 185,792 shares in the company, valued at $12,078,337.92. This trade represents a 2.32 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 1.02% of the stock is owned by company insiders.

Institutional Trading of Chipotle Mexican Grill

A number of hedge funds have recently added to or reduced their stakes in the business. Alphinity Investment Management Pty Ltd purchased a new position in Chipotle Mexican Grill during the 4th quarter valued at about $692,701,000. Assenagon Asset Management S.A. increased its holdings in Chipotle Mexican Grill by 1,087.9% during the third quarter. Assenagon Asset Management S.A. now owns 4,712,724 shares of the restaurant operator’s stock valued at $271,547,000 after buying an additional 4,315,983 shares during the period. Congress Asset Management Co. purchased a new position in Chipotle Mexican Grill during the third quarter valued at approximately $109,396,000. Thrivent Financial for Lutherans raised its stake in Chipotle Mexican Grill by 674.3% in the third quarter. Thrivent Financial for Lutherans now owns 2,122,778 shares of the restaurant operator’s stock worth $122,314,000 after buying an additional 1,848,625 shares in the last quarter. Finally, Raymond James & Associates lifted its holdings in Chipotle Mexican Grill by 94.3% during the third quarter. Raymond James & Associates now owns 2,969,776 shares of the restaurant operator’s stock worth $171,118,000 after buying an additional 1,441,172 shares during the period. 91.31% of the stock is owned by hedge funds and other institutional investors.

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.