Chipotle Mexican Grill (NYSE:CMG) Price Target Raised to $65.00 at Wells Fargo & Company

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) had its target price increased by stock analysts at Wells Fargo & Company from $55.00 to $65.00 in a research report issued on Thursday,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 20.64% from the stock's previous close.

CMG has been the subject of several other reports. Stephens reissued an "equal weight" rating and issued a $49.00 price objective on shares of Chipotle Mexican Grill in a research note on Monday, June 9th. Royal Bank Of Canada lowered their price objective on Chipotle Mexican Grill from $65.00 to $60.00 and set an "outperform" rating for the company in a research note on Thursday, April 24th. Piper Sandler decreased their price target on Chipotle Mexican Grill from $59.00 to $52.00 and set a "neutral" rating for the company in a research report on Thursday, April 24th. Truist Financial increased their price target on Chipotle Mexican Grill from $63.00 to $64.00 and gave the company a "buy" rating in a research report on Wednesday, July 9th. Finally, Citigroup increased their price target on Chipotle Mexican Grill from $65.00 to $68.00 and gave the company a "buy" rating in a research report on Thursday, July 10th. Nine research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $61.72.

Chipotle Mexican Grill Trading Up 0.6%

CMG stock traded up $0.34 during trading on Thursday, reaching $53.88. 9,512,380 shares of the stock were exchanged, compared to its average volume of 12,600,755. The firm has a market cap of $72.60 billion, a P/E ratio of 47.68, a price-to-earnings-growth ratio of 2.65 and a beta of 1.08. Chipotle Mexican Grill has a twelve month low of $44.46 and a twelve month high of $66.74. The firm's 50 day moving average is $52.82 and its 200 day moving average is $52.98.

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The restaurant operator reported $0.29 EPS for the quarter, topping the consensus estimate of $0.28 by $0.01. The firm had revenue of $2.88 billion during the quarter, compared to the consensus estimate of $2.98 billion. Chipotle Mexican Grill had a return on equity of 43.29% and a net margin of 13.59%. The company's quarterly revenue was up 6.4% compared to the same quarter last year. During the same period in the prior year, the business posted $13.37 earnings per share. As a group, analysts predict that Chipotle Mexican Grill will post 1.29 earnings per share for the current fiscal year.

Insider Activity at Chipotle Mexican Grill

In other news, insider Roger E. Theodoredis sold 113,875 shares of the firm's stock in a transaction on Monday, June 2nd. The stock was 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 directly owned 109,815 shares of the company's stock, valued at $5,457,805.50. This trade represents a 50.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.81% of the stock is owned by insiders.

Institutional Investors Weigh In On Chipotle Mexican Grill

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. raised its position in Chipotle Mexican Grill by 1.3% during the first quarter. Vanguard Group Inc. now owns 122,463,327 shares of the restaurant operator's stock valued at $6,148,884,000 after purchasing an additional 1,597,287 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in Chipotle Mexican Grill by 7.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 56,827,332 shares of the restaurant operator's stock valued at $2,853,302,000 after purchasing an additional 4,027,016 shares in the last quarter. Alliancebernstein L.P. raised its position in Chipotle Mexican Grill by 8.0% during the first quarter. Alliancebernstein L.P. now owns 32,505,318 shares of the restaurant operator's stock valued at $1,632,092,000 after purchasing an additional 2,404,798 shares in the last quarter. Geode Capital Management LLC raised its position in Chipotle Mexican Grill by 1.4% during the fourth quarter. Geode Capital Management LLC now owns 28,476,031 shares of the restaurant operator's stock valued at $1,712,238,000 after purchasing an additional 395,053 shares in the last quarter. Finally, American Century Companies Inc. raised its position in Chipotle Mexican Grill by 2.1% during the first quarter. American Century Companies Inc. now owns 20,662,628 shares of the restaurant operator's stock valued at $1,037,471,000 after purchasing an additional 425,648 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.