Chipotle Mexican Grill (NYSE:CMG) PT Raised to $3,300.00 at Wells Fargo & Company

Chipotle Mexican Grill (NYSE:CMG) had its price target upped by investment analysts at Wells Fargo & Company from $3,285.00 to $3,300.00 in a report released on Thursday, Benzinga reports. The firm presently has an “overweight” rating on the restaurant operator’s stock. Wells Fargo & Company‘s price target suggests a potential upside of 3.47% from the company’s previous close.

Other research analysts also recently issued research reports about the company. Raymond James raised their price target on Chipotle Mexican Grill from $2,450.00 to $2,550.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. TD Cowen increased their price objective on Chipotle Mexican Grill from $3,400.00 to $3,500.00 and gave the stock a “buy” rating in a research report on Thursday. Deutsche Bank Aktiengesellschaft increased their price objective on Chipotle Mexican Grill from $3,100.00 to $3,300.00 and gave the stock a “buy” rating in a research report on Wednesday, March 20th. KeyCorp increased their price objective on Chipotle Mexican Grill from $2,750.00 to $3,250.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 9th. Finally, Evercore ISI increased their price objective on Chipotle Mexican Grill from $3,200.00 to $3,600.00 and gave the stock an “outperform” rating in a research report on Thursday. Ten equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $3,137.12.

Chipotle Mexican Grill Trading Up 2.5 %

CMG opened at $3,189.40 on Thursday. The stock’s 50-day moving average price is $2,822.95 and its 200 day moving average price is $2,426.07. Chipotle Mexican Grill has a 12-month low of $1,768.64 and a 12-month high of $3,199.99. The firm has a market cap of $87.60 billion, a price-to-earnings ratio of 68.06, a PEG ratio of 2.48 and a beta of 1.28.

Chipotle Mexican Grill shares are set to split on the morning of Wednesday, June 26th. The 50-1 split was announced on Tuesday, March 19th. The newly minted shares will be payable to shareholders after the market closes on Tuesday, June 25th.

Chipotle Mexican Grill (NYSE:CMG) last posted its quarterly earnings results on Wednesday, April 24th. The restaurant operator reported $13.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $11.63 by $1.74. The company had revenue of $2.70 billion for the quarter, compared to analyst estimates of $2.67 billion. Chipotle Mexican Grill had a return on equity of 45.46% and a net margin of 12.70%. On average, research analysts forecast that Chipotle Mexican Grill will post 53.49 earnings per share for the current year.

Insiders Place Their Bets

In other Chipotle Mexican Grill news, insider Christopher W. Brandt sold 3,149 shares of the firm’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $2,927.84, for a total transaction of $9,219,768.16. Following the completion of the transaction, the insider now owns 8,563 shares of the company’s stock, valued at $25,071,093.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Chipotle Mexican Grill news, CEO Brian R. Niccol sold 1,996 shares of the business’s stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $2,399.91, for a total transaction of $4,790,220.36. Following the completion of the sale, the chief executive officer now owns 22,447 shares of the company’s stock, valued at $53,870,779.77. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Christopher W. Brandt sold 3,149 shares of the business’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $2,927.84, for a total value of $9,219,768.16. Following the sale, the insider now directly owns 8,563 shares of the company’s stock, valued at approximately $25,071,093.92. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 6,793 shares of company stock valued at $18,321,152. Corporate insiders own 0.96% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Northern Trust Corp lifted its stake in shares of Chipotle Mexican Grill by 5.0% in the third quarter. Northern Trust Corp now owns 283,203 shares of the restaurant operator’s stock worth $518,780,000 after acquiring an additional 13,513 shares in the last quarter. Covestor Ltd increased its holdings in Chipotle Mexican Grill by 9.2% in the third quarter. Covestor Ltd now owns 95 shares of the restaurant operator’s stock valued at $174,000 after buying an additional 8 shares during the last quarter. NewEdge Wealth LLC bought a new stake in Chipotle Mexican Grill in the third quarter valued at about $205,000. Laidlaw Wealth Management LLC increased its holdings in Chipotle Mexican Grill by 69.8% in the third quarter. Laidlaw Wealth Management LLC now owns 270 shares of the restaurant operator’s stock valued at $495,000 after buying an additional 111 shares during the last quarter. Finally, Clearstead Advisors LLC increased its holdings in Chipotle Mexican Grill by 0.7% in the third quarter. Clearstead Advisors LLC now owns 773 shares of the restaurant operator’s stock valued at $1,416,000 after buying an additional 5 shares during the last quarter. Institutional investors and hedge funds 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.