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

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

A number of other equities research analysts have also weighed in on CMG. Oppenheimer reissued an outperform rating and issued a $3,300.00 target price (up previously from $2,825.00) on shares of Chipotle Mexican Grill in a research note on Thursday. Deutsche Bank Aktiengesellschaft boosted their target price on Chipotle Mexican Grill from $3,100.00 to $3,300.00 and gave the company a buy rating in a research note on Wednesday, March 20th. BTIG Research boosted their target price on Chipotle Mexican Grill from $2,750.00 to $3,250.00 and gave the company a buy rating in a research note on Thursday, March 28th. Piper Sandler upped their price target on Chipotle Mexican Grill from $2,442.00 to $3,070.00 and gave the company a neutral rating in a research report on Thursday. Finally, Raymond James upped their price target on Chipotle Mexican Grill from $2,450.00 to $2,550.00 and gave the company an outperform rating in a research report on Thursday, January 25th. Eleven equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus price target of $3,057.68.

Chipotle Mexican Grill Trading Up 1.4 %

Shares of CMG traded up $44.54 during midday trading on Thursday, reaching $3,156.51. The stock had a trading volume of 23,849 shares, compared to its average volume of 238,875. The company’s 50-day moving average is $2,811.11 and its 200 day moving average is $2,416.65. Chipotle Mexican Grill has a 12-month low of $1,768.64 and a 12-month high of $3,175.00. The company has a market capitalization of $86.71 billion, a price-to-earnings ratio of 67.09, a price-to-earnings-growth ratio of 2.48 and a beta of 1.28.

Chipotle Mexican Grill’s stock is going 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 issued to shareholders after the closing bell on Tuesday, June 25th.

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

Insider Buying and Selling at Chipotle Mexican Grill

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

Hedge Funds Weigh In On Chipotle Mexican Grill

Hedge funds and other institutional investors have recently modified their holdings of the company. Steph & Co. bought a new position in shares of Chipotle Mexican Grill during the 1st quarter valued at $29,000. Fortitude Family Office LLC bought a new position in Chipotle Mexican Grill in the 4th quarter worth $32,000. Turtle Creek Wealth Advisors LLC bought a new position in Chipotle Mexican Grill in the 4th quarter worth $37,000. ICA Group Wealth Management LLC bought a new position in Chipotle Mexican Grill in the 4th quarter worth $37,000. Finally, Annis Gardner Whiting Capital Advisors LLC bought a new position in Chipotle Mexican Grill in the 3rd quarter worth $38,000. 91.31% of the stock is owned by institutional investors.

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.