Chipotle Mexican Grill (NYSE:CMG) Price Target Cut to $60.00 by Analysts at Wells Fargo & Company

Chipotle Mexican Grill (NYSE:CMG - Free Report) had its price target trimmed by Wells Fargo & Company from $65.00 to $60.00 in a report issued on Thursday,Benzinga reports. The firm currently has an overweight rating on the restaurant operator's stock.

A number of other brokerages also recently commented on CMG. Barclays dropped their target price on shares of Chipotle Mexican Grill from $55.00 to $53.00 and set an "equal weight" rating on the stock in a research note on Thursday. Evercore ISI dropped their price objective on shares of Chipotle Mexican Grill from $64.00 to $57.00 and set an "outperform" rating on the stock in a research note on Thursday, April 24th. JPMorgan Chase & Co. dropped their price objective on shares of Chipotle Mexican Grill from $58.00 to $54.00 and set a "neutral" rating on the stock in a research note on Thursday, May 29th. Redburn Atlantic began coverage on shares of Chipotle Mexican Grill in a research note on Tuesday, June 10th. They set a "neutral" rating and a $55.00 price objective on the stock. Finally, Morgan Stanley dropped their price objective on shares of Chipotle Mexican Grill from $67.00 to $65.00 and set an "overweight" rating on the stock in a research note on Thursday, April 24th. Nine analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Chipotle Mexican Grill currently has an average rating of "Moderate Buy" and an average price target of $60.71.

Chipotle Mexican Grill Stock Down 3.9%

NYSE:CMG traded down $1.84 during mid-day trading on Thursday, hitting $44.92. 31,936,920 shares of the stock traded hands, compared to its average volume of 13,590,313. The stock has a market capitalization of $60.52 billion, a price-to-earnings ratio of 40.11, a PEG ratio of 2.38 and a beta of 1.08. Chipotle Mexican Grill has a 52 week low of $44.46 and a 52 week high of $66.74. The firm's 50 day moving average is $52.75 and its two-hundred day moving average is $52.54.

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The restaurant operator reported $0.33 EPS for the quarter, topping analysts' consensus estimates of $0.32 by $0.01. The business had revenue of $3.06 billion for the quarter, compared to the consensus estimate of $3.11 billion. Chipotle Mexican Grill had a net margin of 13.32% and a return on equity of 43.50%. The company's revenue for the quarter was up 3.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.34 EPS. As a group, research analysts predict that Chipotle Mexican Grill will post 1.29 EPS for the current year.

Insiders Place Their Bets

In other Chipotle Mexican Grill news, insider Roger E. Theodoredis sold 113,875 shares of Chipotle Mexican Grill stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $49.70, for a total value of $5,659,587.50. Following the completion of the transaction, the insider owned 109,815 shares of the company's stock, valued at approximately $5,457,805.50. The trade was a 50.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.02% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Revolve Wealth Partners LLC grew its position in shares of Chipotle Mexican Grill by 4.7% in the fourth quarter. Revolve Wealth Partners LLC now owns 4,804 shares of the restaurant operator's stock valued at $290,000 after purchasing an additional 214 shares during the period. Bank Pictet & Cie Europe AG grew its position in shares of Chipotle Mexican Grill by 22.5% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 1,518,593 shares of the restaurant operator's stock valued at $91,571,000 after purchasing an additional 279,267 shares during the period. LPL Financial LLC boosted its position in Chipotle Mexican Grill by 11.7% during the fourth quarter. LPL Financial LLC now owns 1,223,422 shares of the restaurant operator's stock worth $73,772,000 after acquiring an additional 127,850 shares during the last quarter. Zions Bancorporation N.A. grew its stake in Chipotle Mexican Grill by 21.1% during the 4th quarter. Zions Bancorporation N.A. now owns 6,260 shares of the restaurant operator's stock valued at $377,000 after acquiring an additional 1,092 shares in the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. grew its stake in Chipotle Mexican Grill by 0.8% during the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 31,933 shares of the restaurant operator's stock valued at $1,926,000 after acquiring an additional 253 shares in the last quarter. Hedge funds and other institutional investors 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.