Wells Fargo & Company Cuts Chipotle Mexican Grill (NYSE:CMG) Price Target to $70.00

Chipotle Mexican Grill (NYSE:CMG) had its price objective lowered by stock analysts at Wells Fargo & Company from $75.00 to $70.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the restaurant operator’s stock. Wells Fargo & Company‘s target price would indicate a potential upside of 21.51% from the company’s current price.

A number of other research analysts also recently weighed in on the company. Wedbush cut their price target on Chipotle Mexican Grill from $69.00 to $64.00 and set an “outperform” rating on the stock in a research note on Wednesday. Evercore ISI upped their price objective on shares of Chipotle Mexican Grill from $70.00 to $72.00 and gave the company an “outperform” rating in a research report on Thursday, December 5th. Sanford C. Bernstein reiterated an “outperform” rating and set a $70.00 target price on shares of Chipotle Mexican Grill in a report on Tuesday, January 28th. Piper Sandler raised their price objective on Chipotle Mexican Grill from $59.00 to $60.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Finally, Loop Capital raised their target price on shares of Chipotle Mexican Grill from $53.00 to $58.00 and gave the company a “hold” rating in a research note on Wednesday, October 30th. Ten equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Chipotle Mexican Grill presently has an average rating of “Moderate Buy” and a consensus price target of $66.42.

Chipotle Mexican Grill Price Performance

Shares of CMG traded down $1.41 on Wednesday, hitting $57.61. The company’s stock had a trading volume of 6,631,732 shares, compared to its average volume of 9,583,063. The company has a market capitalization of $78.50 billion, a PE ratio of 53.96, a PEG ratio of 2.07 and a beta of 1.27. Chipotle Mexican Grill has a fifty-two week low of $47.98 and a fifty-two week high of $69.26. The company has a 50 day moving average price of $60.36 and a 200 day moving average price of $57.84.

Chipotle Mexican Grill (NYSE:CMG) last posted its quarterly earnings data on Tuesday, February 4th. The restaurant operator reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.01. Chipotle Mexican Grill had a return on equity of 43.20% and a net margin of 13.51%. On average, equities analysts forecast that Chipotle Mexican Grill will post 1.11 EPS for the current year.

Insider Buying and Selling at Chipotle Mexican Grill

In other news, insider Laurie Schalow sold 4,404 shares of the stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $65.01, for a total value of $286,304.04. Following the transaction, the insider now owns 185,792 shares of the company’s stock, valued at $12,078,337.92. This represents a 2.32 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.02% of the company’s stock.

Hedge Funds Weigh In On Chipotle Mexican Grill

Institutional investors and hedge funds have recently made changes to their positions in the business. Transcendent Capital Group LLC raised its position in Chipotle Mexican Grill by 950.0% in the 3rd quarter. Transcendent Capital Group LLC now owns 525 shares of the restaurant operator’s stock worth $30,000 after purchasing an additional 475 shares during the period. Mowery & Schoenfeld Wealth Management LLC purchased a new position in Chipotle Mexican Grill in the 3rd quarter worth $32,000. Capital Performance Advisors LLP purchased a new position in Chipotle Mexican Grill in the 3rd quarter worth $33,000. Global Trust Asset Management LLC purchased a new position in Chipotle Mexican Grill in the 3rd quarter worth $35,000. Finally, Sound Income Strategies LLC increased its position in shares of Chipotle Mexican Grill by 1,110.0% in the fourth quarter. Sound Income Strategies LLC now owns 605 shares of the restaurant operator’s stock valued at $36,000 after acquiring an additional 555 shares during the period. 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.