Wells Fargo & Co Raises Chipotle Mexican Grill (CMG) Price Target to $420.00

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Chipotle Mexican Grill (NYSE:CMG) had its target price upped by Wells Fargo & Co from $415.00 to $420.00 in a report released on Friday, October 26th. The brokerage currently has a market perform rating on the restaurant operator’s stock.

CMG has been the subject of a number of other reports. Barclays raised their target price on Chipotle Mexican Grill from $360.00 to $400.00 and gave the company an equal weight rating in a report on Friday, October 26th. Royal Bank of Canada upgraded Chipotle Mexican Grill from a sector perform rating to an outperform rating and raised their target price for the company from $450.00 to $510.00 in a report on Monday, October 22nd. Maxim Group lifted their price objective on Chipotle Mexican Grill from $420.00 to $430.00 and gave the company a hold rating in a research note on Friday, July 27th. Wedbush reiterated a sell rating and issued a $400.00 price objective on shares of Chipotle Mexican Grill in a research note on Friday, October 26th. Finally, Bank of America set a $340.00 price objective on Chipotle Mexican Grill and gave the company a sell rating in a research note on Friday, October 26th. Nine research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and fifteen have issued a buy rating to the stock. The stock has a consensus rating of Hold and a consensus target price of $431.72.

Shares of CMG traded up $12.46 during midday trading on Friday, reaching $490.76. The company had a trading volume of 883,948 shares, compared to its average volume of 812,930. The company has a market capitalization of $13.27 billion, a PE ratio of 74.36, a price-to-earnings-growth ratio of 3.15 and a beta of 0.22. Chipotle Mexican Grill has a 1-year low of $247.51 and a 1-year high of $530.68.

Chipotle Mexican Grill (NYSE:CMG) last issued its quarterly earnings data on Thursday, October 25th. The restaurant operator reported $2.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.00 by $0.16. The firm had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.23 billion. Chipotle Mexican Grill had a return on equity of 17.14% and a net margin of 3.96%. On average, equities analysts expect that Chipotle Mexican Grill will post 8.48 EPS for the current year.

In other Chipotle Mexican Grill news, Director Pershing Square Capital Manage sold 118,307 shares of the business’s stock in a transaction on Tuesday, November 6th. The stock was sold at an average price of $472.05, for a total transaction of $55,846,819.35. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 2.19% of the stock is owned by insiders.

Several large investors have recently modified their holdings of CMG. Canada Pension Plan Investment Board lifted its position in shares of Chipotle Mexican Grill by 636.4% in the second quarter. Canada Pension Plan Investment Board now owns 243 shares of the restaurant operator’s stock valued at $105,000 after acquiring an additional 210 shares in the last quarter. Cornerstone Wealth Management LLC lifted its position in shares of Chipotle Mexican Grill by 17.1% in the third quarter. Cornerstone Wealth Management LLC now owns 35,254 shares of the restaurant operator’s stock valued at $116,000 after acquiring an additional 5,142 shares in the last quarter. Piedmont Investment Advisors LLC purchased a new stake in shares of Chipotle Mexican Grill in the second quarter valued at $119,000. Dupont Capital Management Corp acquired a new position in Chipotle Mexican Grill in the second quarter valued at $123,000. Finally, Bessemer Group Inc. acquired a new position in Chipotle Mexican Grill in the second quarter valued at $184,000. Institutional investors and hedge funds own 89.13% of the company’s stock.

About Chipotle Mexican Grill

Chipotle Mexican Grill, Inc, together with its subsidiaries, operates Chipotle Mexican Grill restaurants. As of December 31, 2017, it operated 2,363 Chipotle restaurants throughout the United States, as well as 37 international Chipotle restaurants; and 8 non-Chipotle restaurants. The company was founded in 1993 and is based in Denver, Colorado.

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Analyst Recommendations for Chipotle Mexican Grill (NYSE:CMG)

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