Chipotle Mexican Grill (NYSE:CMG) Given New $60.00 Price Target at Wells Fargo & Company

Chipotle Mexican Grill (NYSE:CMG) had its price target cut by Wells Fargo & Company from $70.00 to $60.00 in a research report released on Tuesday,Benzinga reports. They currently have an overweight rating on the restaurant operator’s stock.

Several other brokerages also recently issued reports on CMG. Royal Bank of Canada decreased their price objective on shares of Chipotle Mexican Grill from $70.00 to $65.00 and set an “outperform” rating for the company in a research note on Monday, April 14th. Loop Capital raised shares of Chipotle Mexican Grill from a “hold” rating to a “buy” rating and raised their target price for the company from $58.00 to $65.00 in a research report on Friday, March 14th. Wedbush reduced their price target on Chipotle Mexican Grill from $69.00 to $64.00 and set an “outperform” rating for the company in a research report on Wednesday, February 5th. Citigroup reduced their price objective on shares of Chipotle Mexican Grill from $70.00 to $62.00 and set a “buy” rating for the company in a research note on Wednesday, April 2nd. Finally, Sanford C. Bernstein reiterated an “outperform” rating and issued a $70.00 price target on shares of Chipotle Mexican Grill in a research note on Tuesday, January 28th. Eight research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $63.99.

Chipotle Mexican Grill Stock Up 1.2 %

NYSE:CMG opened at $47.10 on Tuesday. The business’s 50-day simple moving average is $50.48 and its two-hundred day simple moving average is $56.43. The stock has a market cap of $63.84 billion, a PE ratio of 42.42, a P/E/G ratio of 2.04 and a beta of 1.27. Chipotle Mexican Grill has a 52 week low of $44.46 and a 52 week high of $69.26.

Chipotle Mexican Grill (NYSE:CMG) last announced its quarterly earnings results on Tuesday, February 4th. The restaurant operator reported $0.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.01. Chipotle Mexican Grill had a net margin of 13.56% and a return on equity of 42.92%. Sell-side analysts anticipate that Chipotle Mexican Grill will post 1.29 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Chipotle Mexican Grill

A number of large investors have recently bought and sold shares of the business. Alliancebernstein L.P. increased its stake in shares of Chipotle Mexican Grill by 29.5% during the fourth quarter. Alliancebernstein L.P. now owns 30,100,520 shares of the restaurant operator’s stock worth $1,815,061,000 after purchasing an additional 6,853,470 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Chipotle Mexican Grill by 1.4% during the 4th quarter. Geode Capital Management LLC now owns 28,476,031 shares of the restaurant operator’s stock worth $1,712,238,000 after acquiring an additional 395,053 shares during the period. American Century Companies Inc. grew its stake in shares of Chipotle Mexican Grill by 0.8% in the 4th quarter. American Century Companies Inc. now owns 20,236,980 shares of the restaurant operator’s stock valued at $1,220,290,000 after buying an additional 166,767 shares during the period. Norges Bank acquired a new stake in Chipotle Mexican Grill during the fourth quarter worth $1,093,345,000. Finally, Northern Trust Corp increased its position in shares of Chipotle Mexican Grill by 11.1% during the 4th quarter. Northern Trust Corp now owns 14,443,085 shares of the restaurant operator’s stock worth $870,918,000 after purchasing an additional 1,438,860 shares during the last quarter. Institutional investors and hedge funds 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.