Chipotle Mexican Grill (NYSE:CMG) Price Target Raised to $75.00

Chipotle Mexican Grill (NYSE:CMG) had its price target boosted by Wells Fargo & Company from $67.00 to $75.00 in a research report sent to investors on Thursday,Benzinga reports. They currently have an overweight rating on the restaurant operator’s stock.

Several other research firms have also issued reports on CMG. Stephens restated an “equal weight” rating and issued a $65.00 price target on shares of Chipotle Mexican Grill in a research report on Tuesday, November 12th. Barclays boosted their target price on Chipotle Mexican Grill from $55.00 to $60.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Robert W. Baird increased their price target on shares of Chipotle Mexican Grill from $62.00 to $70.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Citigroup decreased their price objective on shares of Chipotle Mexican Grill from $71.00 to $70.00 and set a “buy” rating for the company in a report on Wednesday, October 30th. Finally, BMO Capital Markets increased their target price on shares of Chipotle Mexican Grill from $55.00 to $56.00 and gave the stock a “market perform” rating in a report on Wednesday, October 30th. Ten analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $65.71.

Chipotle Mexican Grill Stock Down 2.4 %

Shares of CMG stock opened at $64.59 on Thursday. Chipotle Mexican Grill has a 12 month low of $44.08 and a 12 month high of $69.26. The firm has a market cap of $88.01 billion, a price-to-earnings ratio of 60.36, a PEG ratio of 2.64 and a beta of 1.27. The stock has a 50-day moving average price of $60.20 and a 200 day moving average price of $81.05.

Chipotle Mexican Grill (NYSE:CMG) last posted its quarterly earnings results on Tuesday, October 29th. The restaurant operator reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.02. Chipotle Mexican Grill had a net margin of 13.51% and a return on equity of 43.20%. The business had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.82 billion. During the same period in the previous year, the firm posted $0.23 earnings per share. Chipotle Mexican Grill’s revenue for the quarter was up 13.0% compared to the same quarter last year. Sell-side analysts predict that Chipotle Mexican Grill will post 1.11 earnings per share for the current fiscal year.

Insider Activity at Chipotle Mexican Grill

In related news, insider Laurie Schalow sold 4,404 shares of the firm’s 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 completion of the transaction, the insider now directly owns 185,792 shares of the company’s stock, valued at approximately $12,078,337.92. This trade represents a 2.32 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Curtis E. Garner sold 15,750 shares of the company’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $57.05, for a total transaction of $898,537.50. Following the sale, the insider now directly owns 457,764 shares in the company, valued at $26,115,436.20. This trade represents a 3.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.02% of the stock is owned by company insiders.

Hedge Funds Weigh In On Chipotle Mexican Grill

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. American Century Companies Inc. lifted its position in shares of Chipotle Mexican Grill by 4,732.3% in the second quarter. American Century Companies Inc. now owns 20,177,309 shares of the restaurant operator’s stock valued at $1,264,109,000 after buying an additional 19,759,754 shares during the last quarter. Legal & General Group Plc lifted its holdings in Chipotle Mexican Grill by 5,209.5% during the 2nd quarter. Legal & General Group Plc now owns 10,935,669 shares of the restaurant operator’s stock valued at $685,128,000 after purchasing an additional 10,729,706 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in Chipotle Mexican Grill by 5,930.8% during the second quarter. Massachusetts Financial Services Co. MA now owns 10,310,132 shares of the restaurant operator’s stock worth $645,930,000 after purchasing an additional 10,139,174 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of Chipotle Mexican Grill by 4,816.1% in the second quarter. Bank of New York Mellon Corp now owns 8,356,173 shares of the restaurant operator’s stock valued at $523,514,000 after purchasing an additional 8,186,198 shares during the last quarter. Finally, Marshall Wace LLP raised its position in shares of Chipotle Mexican Grill by 76,617.6% in the second quarter. Marshall Wace LLP now owns 5,904,952 shares of the restaurant operator’s stock valued at $369,945,000 after purchasing an additional 5,897,255 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.