Chipotle Mexican Grill (NYSE:CMG) Given New $696.00 Price Target at Wells Fargo & Co

Chipotle Mexican Grill (NYSE:CMG) had its price target raised by Wells Fargo & Co from $647.00 to $696.00 in a research note released on Monday, The Fly reports. They currently have a market perform rating on the restaurant operator’s stock.

CMG has been the topic of a number of other reports. Oppenheimer boosted their price objective on Chipotle Mexican Grill from $400.00 to $525.00 and gave the company an underperform rating in a research note on Thursday, April 25th. Morgan Stanley set a $60.00 price objective on Berry Global Group and gave the company a hold rating in a research note on Wednesday, April 17th. Loop Capital boosted their price objective on Norfolk Southern to $237.00 and gave the company a buy rating in a research note on Thursday, April 25th. Telsey Advisory Group restated a market perform rating and issued a $64.00 price objective (up from $58.00) on shares of Las Vegas Sands in a research note on Thursday, April 18th. Finally, Stifel Nicolaus restated a buy rating and issued a $400.00 price objective on shares of Netflix in a research note on Monday, April 8th. Six equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of Hold and an average price target of $667.10.

Shares of NYSE:CMG opened at $764.04 on Monday. The business has a 50-day moving average of $723.97. The company has a quick ratio of 1.41, a current ratio of 1.44 and a debt-to-equity ratio of 1.69. The stock has a market cap of $20.86 billion, a P/E ratio of 74.14, a P/E/G ratio of 3.01 and a beta of 0.67. Chipotle Mexican Grill has a fifty-two week low of $383.20 and a fifty-two week high of $765.99.



Chipotle Mexican Grill (NYSE:CMG) last issued its quarterly earnings results on Wednesday, April 24th. The restaurant operator reported $3.40 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.01 by $0.39. Chipotle Mexican Grill had a net margin of 4.08% and a return on equity of 19.78%. The company had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.27 billion. During the same period in the previous year, the firm earned $2.13 EPS. The firm’s quarterly revenue was up 13.9% on a year-over-year basis. As a group, analysts predict that Chipotle Mexican Grill will post 13.03 EPS for the current year.

In related news, insider Scott Boatwright sold 1,805 shares of the company’s stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $740.22, for a total value of $1,336,097.10. Following the transaction, the insider now directly owns 8,869 shares in the company, valued at $6,565,011.18. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CTO Curtis E. Garner sold 9,276 shares of the company’s stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $738.02, for a total transaction of $6,845,873.52. Following the completion of the transaction, the chief technology officer now owns 15,780 shares in the company, valued at $11,645,955.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 91,081 shares of company stock worth $66,273,971. Company insiders own 2.21% of the company’s stock.

Hedge funds have recently bought and sold shares of the stock. MML Investors Services LLC increased its position in shares of Chipotle Mexican Grill by 29.5% in the first quarter. MML Investors Services LLC now owns 1,092 shares of the restaurant operator’s stock worth $776,000 after purchasing an additional 249 shares during the last quarter. Columbus Circle Investors increased its position in shares of Chipotle Mexican Grill by 10.5% in the first quarter. Columbus Circle Investors now owns 90,220 shares of the restaurant operator’s stock worth $64,084,000 after purchasing an additional 8,573 shares during the last quarter. FMR LLC increased its position in shares of Chipotle Mexican Grill by 88.7% in the first quarter. FMR LLC now owns 1,143,585 shares of the restaurant operator’s stock worth $812,301,000 after purchasing an additional 537,677 shares during the last quarter. Capital Wealth Management LLC bought a new position in shares of Chipotle Mexican Grill in the first quarter worth approximately $234,000. Finally, Motco bought a new position in shares of Chipotle Mexican Grill in the first quarter worth approximately $47,000. Institutional investors own 95.04% of the company’s stock.

Chipotle Mexican Grill Company Profile

Chipotle Mexican Grill, Inc, together with its subsidiaries, operates Chipotle Mexican Grill restaurants. As of December 31, 2018, it operated 2,491 restaurants, including 2,452 Chipotle restaurants in the United States, 37 Chipotle restaurants internationally, and two non-Chipotle restaurants. The company was founded in 1993 and is headquartered in Newport Beach, California.

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Analyst Recommendations for Chipotle Mexican Grill (NYSE:CMG)

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