Chipotle Mexican Grill (NYSE:CMG) had its price target raised by Wells Fargo & Co from $489.00 to $647.00 in a report published on Tuesday, The Fly reports. Wells Fargo & Co currently has a market perform rating on the restaurant operator’s stock.

Several other equities analysts have also weighed in on CMG. Zacks Investment Research lowered shares of Chipotle Mexican Grill from a buy rating to a hold rating in a report on Monday, February 4th. Jefferies Financial Group lowered shares of Chipotle Mexican Grill from a buy rating to a hold rating and lifted their target price for the company from $600.00 to $700.00 in a report on Thursday, April 11th. Stifel Nicolaus lifted their target price on shares of Chipotle Mexican Grill from $500.00 to $700.00 and gave the company an underperform rating in a report on Friday, April 5th. BMO Capital Markets lifted their target price on shares of Chipotle Mexican Grill from $420.00 to $540.00 and gave the company a market perform rating in a report on Thursday, February 7th. Finally, Robert W. Baird restated an outperform rating and set a $760.00 target price (up previously from $650.00) on shares of Chipotle Mexican Grill in a report on Wednesday, March 27th. Seven investment analysts have rated the stock with a sell rating, sixteen have given a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus price target of $570.70.

Shares of CMG opened at $700.00 on Tuesday. The firm has a market capitalization of $19.41 billion, a price-to-earnings ratio of 77.26, a P/E/G ratio of 3.25 and a beta of 0.68. Chipotle Mexican Grill has a fifty-two week low of $326.00 and a fifty-two week high of $721.21.

Chipotle Mexican Grill (NYSE:CMG) last posted its earnings results on Wednesday, February 6th. The restaurant operator reported $1.72 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.38 by $0.34. The business had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.20 billion. Chipotle Mexican Grill had a net margin of 3.63% and a return on equity of 17.64%. The business’s quarterly revenue was up 10.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.34 EPS. Equities research analysts expect that Chipotle Mexican Grill will post 12.42 earnings per share for the current year.

In other Chipotle Mexican Grill news, CFO Jack Hartung sold 7,150 shares of the business’s stock in a transaction on Tuesday, February 12th. The shares were sold at an average price of $606.77, for a total value of $4,338,405.50. Following the transaction, the chief financial officer now owns 45,237 shares in the company, valued at approximately $27,448,454.49. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Pershing Square Capital Manage sold 11,980 shares of the business’s stock in a transaction on Thursday, February 14th. The stock was sold at an average price of $602.45, for a total transaction of $7,217,351.00. The disclosure for this sale can be found here. Insiders sold a total of 51,788 shares of company stock worth $31,629,459 in the last quarter. 2.21% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bruderman Asset Management LLC bought a new stake in shares of Chipotle Mexican Grill in the 4th quarter worth about $39,000. Captrust Financial Advisors increased its position in shares of Chipotle Mexican Grill by 44.0% in the 4th quarter. Captrust Financial Advisors now owns 167 shares of the restaurant operator’s stock worth $72,000 after purchasing an additional 51 shares during the last quarter. Huntington National Bank increased its position in shares of Chipotle Mexican Grill by 19.9% in the 4th quarter. Huntington National Bank now owns 169 shares of the restaurant operator’s stock worth $73,000 after purchasing an additional 28 shares during the last quarter. NuWave Investment Management LLC increased its position in shares of Chipotle Mexican Grill by 2,087.5% in the 1st quarter. NuWave Investment Management LLC now owns 175 shares of the restaurant operator’s stock worth $124,000 after purchasing an additional 167 shares during the last quarter. Finally, Clean Yield Group bought a new stake in shares of Chipotle Mexican Grill in the 4th quarter worth about $86,000. 93.07% of the stock is owned by institutional investors.

About Chipotle Mexican Grill

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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