Chipotle Mexican Grill (NYSE:CMG) Price Target Increased to $3,300.00 by Analysts at Wells Fargo & Company

Chipotle Mexican Grill (NYSE:CMG) had its price target upped by Wells Fargo & Company from $3,285.00 to $3,300.00 in a research report released on Thursday morning, Benzinga reports. Wells Fargo & Company currently has an overweight rating on the restaurant operator’s stock.

Several other analysts have also recently issued reports on CMG. Jefferies Financial Group upped their price target on shares of Chipotle Mexican Grill from $2,350.00 to $2,700.00 and gave the company a hold rating in a report on Tuesday, April 16th. Piper Sandler increased their price target on shares of Chipotle Mexican Grill from $2,442.00 to $3,070.00 and gave the stock a neutral rating in a research report on Thursday. Robert W. Baird boosted their price objective on Chipotle Mexican Grill from $3,250.00 to $3,500.00 and gave the company an outperform rating in a report on Thursday. Raymond James increased their target price on Chipotle Mexican Grill from $2,450.00 to $2,550.00 and gave the stock an outperform rating in a report on Thursday, January 25th. Finally, Sanford C. Bernstein boosted their price target on Chipotle Mexican Grill from $2,800.00 to $3,200.00 and gave the company an outperform rating in a report on Tuesday, March 26th. Ten 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, Chipotle Mexican Grill presently has a consensus rating of Moderate Buy and a consensus price target of $3,137.12.

Chipotle Mexican Grill Trading Up 2.4 %

CMG opened at $3,186.97 on Thursday. Chipotle Mexican Grill has a twelve month low of $1,768.64 and a twelve month high of $3,199.99. The firm has a market cap of $87.55 billion, a price-to-earnings ratio of 68.01, a PEG ratio of 2.67 and a beta of 1.28. The company has a fifty day simple moving average of $2,822.95 and a 200 day simple moving average of $2,434.49.

Shares of Chipotle Mexican Grill 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 distributed to shareholders after the closing bell on Tuesday, June 25th.

Chipotle Mexican Grill (NYSE:CMG) last issued its quarterly earnings results on Wednesday, April 24th. The restaurant operator reported $13.37 EPS for the quarter, beating analysts’ consensus estimates of $11.63 by $1.74. Chipotle Mexican Grill had a return on equity of 43.74% and a net margin of 12.70%. The firm had revenue of $2.70 billion during the quarter, compared to the consensus estimate of $2.67 billion. On average, analysts forecast that Chipotle Mexican Grill will post 55.08 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Christopher W. Brandt sold 3,149 shares of the business’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $2,927.84, for a total value of $9,219,768.16. Following the sale, the insider now owns 8,563 shares of the company’s stock, valued at approximately $25,071,093.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Roger E. Theodoredis sold 898 shares of the firm’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $2,622.25, for a total transaction of $2,354,780.50. Following the completion of the transaction, the insider now owns 1,529 shares in the company, valued at approximately $4,009,420.25. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Christopher W. Brandt sold 3,149 shares of the stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $2,927.84, for a total transaction of $9,219,768.16. Following the sale, the insider now directly owns 8,563 shares of the company’s stock, valued at $25,071,093.92. The disclosure for this sale can be found here. Insiders sold 4,797 shares of company stock worth $13,530,931 over the last ninety days. Company insiders own 0.96% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. IFP Advisors Inc lifted its holdings in shares of Chipotle Mexican Grill by 13.6% during the third quarter. IFP Advisors Inc now owns 134 shares of the restaurant operator’s stock valued at $245,000 after purchasing an additional 16 shares during the last quarter. Flagship Harbor Advisors LLC purchased a new position in shares of Chipotle Mexican Grill in the third quarter worth approximately $203,000. DAVENPORT & Co LLC raised its holdings in shares of Chipotle Mexican Grill by 9.4% during the third quarter. DAVENPORT & Co LLC now owns 291 shares of the restaurant operator’s stock valued at $533,000 after acquiring an additional 25 shares during the period. Meridian Wealth Management LLC boosted its stake in Chipotle Mexican Grill by 291.2% in the 3rd quarter. Meridian Wealth Management LLC now owns 442 shares of the restaurant operator’s stock worth $810,000 after purchasing an additional 329 shares during the period. Finally, Caprock Group LLC raised its stake in Chipotle Mexican Grill by 4.0% during the 3rd quarter. Caprock Group LLC now owns 208 shares of the restaurant operator’s stock valued at $381,000 after purchasing an additional 8 shares during the period. 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.