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

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

Other equities analysts have also recently issued reports about the company. Argus increased their target price on Chipotle Mexican Grill from $3,265.00 to $3,366.00 and gave the stock a buy rating in a report on Thursday, April 4th. UBS Group raised their target price on Chipotle Mexican Grill from $2,900.00 to $3,400.00 and gave the company a buy rating in a research report on Thursday, April 11th. Evercore ISI raised their target price on Chipotle Mexican Grill from $3,200.00 to $3,600.00 and gave the company an outperform rating in a research report on Thursday. Raymond James lifted their price objective 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, Stifel Nicolaus lifted their price objective on Chipotle Mexican Grill from $2,700.00 to $3,270.00 and gave the stock a buy rating in a report on Thursday, April 11th. Eleven analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average price target of $3,057.68.

Chipotle Mexican Grill Stock Performance

Shares of CMG stock traded up $44.54 during trading hours on Thursday, hitting $3,156.51. 23,849 shares of the company were exchanged, compared to its average volume of 238,875. The firm has a market cap of $86.71 billion, a P/E ratio of 67.09, a P/E/G ratio of 2.48 and a beta of 1.28. Chipotle Mexican Grill has a fifty-two week low of $1,768.64 and a fifty-two week high of $3,175.00. The company has a 50 day simple moving average of $2,811.11 and a two-hundred day simple moving average of $2,416.65.

Chipotle Mexican Grill’s stock is set to split before the market opens on Wednesday, June 26th. The 50-1 split was announced on Tuesday, March 19th. The newly issued shares will be payable to shareholders after the closing bell on Tuesday, June 25th.

Chipotle Mexican Grill (NYSE:CMG) last announced its quarterly earnings data on Wednesday, April 24th. The restaurant operator reported $13.37 EPS for the quarter, topping the consensus estimate of $11.63 by $1.74. Chipotle Mexican Grill had a net margin of 12.70% and a return on equity of 45.46%. The company had revenue of $2.70 billion during the quarter, compared to the consensus estimate of $2.67 billion. As a group, sell-side analysts expect that Chipotle Mexican Grill will post 53.49 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Albert S. Baldocchi sold 750 shares of the company’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $2,608.51, for a total transaction of $1,956,382.50. Following the transaction, the director now directly owns 37,271 shares of the company’s stock, valued at $97,221,776.21. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Chipotle Mexican Grill news, Director Albert S. Baldocchi sold 750 shares of the stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $2,608.51, for a total value of $1,956,382.50. Following the transaction, the director now owns 37,271 shares of the company’s stock, valued at $97,221,776.21. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Brian R. Niccol sold 1,996 shares of the stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $2,399.91, for a total value of $4,790,220.36. Following the completion of the transaction, the chief executive officer now directly owns 22,447 shares in the company, valued at approximately $53,870,779.77. The disclosure for this sale can be found here. Insiders have sold a total of 6,793 shares of company stock valued at $18,321,152 over the last ninety days. Company insiders own 0.96% of the company’s stock.

Hedge Funds Weigh In On Chipotle Mexican Grill

Several institutional investors have recently added to or reduced their stakes in the company. Mesirow Financial Investment Management Inc. bought a new stake in shares of Chipotle Mexican Grill during the 1st quarter worth approximately $230,000. Emerald Advisors LLC bought a new stake in shares of Chipotle Mexican Grill during the 1st quarter worth approximately $872,000. Meridian Wealth Management LLC increased its holdings in Chipotle Mexican Grill by 4.0% during the 1st quarter. Meridian Wealth Management LLC now owns 234 shares of the restaurant operator’s stock worth $680,000 after purchasing an additional 9 shares during the period. Lindbrook Capital LLC increased its holdings in Chipotle Mexican Grill by 5.1% during the 1st quarter. Lindbrook Capital LLC now owns 348 shares of the restaurant operator’s stock worth $1,012,000 after purchasing an additional 17 shares during the period. Finally, Strategy Asset Managers LLC increased its holdings in Chipotle Mexican Grill by 10.1% during the 1st quarter. Strategy Asset Managers LLC now owns 196 shares of the restaurant operator’s stock worth $570,000 after purchasing an additional 18 shares during the period. 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.