Chipotle Mexican Grill (NYSE:CMG) Now Covered by Analysts at Wells Fargo & Company

Wells Fargo & Company started coverage on shares of Chipotle Mexican Grill (NYSE:CMGGet Rating) in a research note published on Monday morning, The Fly reports. The firm issued an overweight rating on the restaurant operator’s stock.

Several other brokerages also recently commented on CMG. StockNews.com upgraded shares of Chipotle Mexican Grill from a hold rating to a buy rating in a report on Tuesday, January 17th. Oppenheimer restated an outperform rating and set a $1,800.00 price objective on shares of Chipotle Mexican Grill in a report on Tuesday, October 18th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Chipotle Mexican Grill from $1,708.00 to $1,699.00 in a report on Thursday, October 27th. KeyCorp boosted their price objective on shares of Chipotle Mexican Grill from $1,750.00 to $1,800.00 and gave the stock an overweight rating in a report on Wednesday, October 26th. Finally, Barclays dropped their price objective on shares of Chipotle Mexican Grill from $1,510.00 to $1,450.00 and set an equal weight rating on the stock in a report on Thursday, January 5th. Five research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average price target of $1,812.33.

Chipotle Mexican Grill Stock Performance

Shares of NYSE:CMG opened at $1,597.35 on Monday. The stock has a market capitalization of $44.28 billion, a price-to-earnings ratio of 55.60, a PEG ratio of 1.36 and a beta of 1.26. Chipotle Mexican Grill has a 1-year low of $1,196.28 and a 1-year high of $1,754.56. The company has a 50 day moving average price of $1,487.81 and a 200 day moving average price of $1,521.43.

Chipotle Mexican Grill (NYSE:CMGGet Rating) last issued its earnings results on Tuesday, October 25th. The restaurant operator reported $9.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $9.11 by $0.40. The company had revenue of $2.22 billion during the quarter, compared to analyst estimates of $2.23 billion. Chipotle Mexican Grill had a net margin of 9.61% and a return on equity of 38.03%. On average, sell-side analysts expect that Chipotle Mexican Grill will post 33.34 EPS for the current fiscal year.

Hedge Funds Weigh In On Chipotle Mexican Grill

A number of institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of Chipotle Mexican Grill by 4.6% in the third quarter. Vanguard Group Inc. now owns 2,620,725 shares of the restaurant operator’s stock worth $3,938,320,000 after acquiring an additional 114,699 shares during the last quarter. BlackRock Inc. raised its stake in shares of Chipotle Mexican Grill by 1.2% during the third quarter. BlackRock Inc. now owns 1,966,428 shares of the restaurant operator’s stock worth $2,955,068,000 after buying an additional 23,107 shares during the last quarter. State Street Corp raised its stake in shares of Chipotle Mexican Grill by 0.5% during the third quarter. State Street Corp now owns 1,058,549 shares of the restaurant operator’s stock worth $1,590,745,000 after buying an additional 5,450 shares during the last quarter. Jennison Associates LLC raised its stake in shares of Chipotle Mexican Grill by 0.7% during the third quarter. Jennison Associates LLC now owns 542,847 shares of the restaurant operator’s stock worth $815,769,000 after buying an additional 3,709 shares during the last quarter. Finally, Artisan Partners Limited Partnership raised its stake in shares of Chipotle Mexican Grill by 10.7% during the third quarter. Artisan Partners Limited Partnership now owns 505,220 shares of the restaurant operator’s stock worth $759,224,000 after buying an additional 48,865 shares during the last quarter. 93.26% of the stock is owned by institutional investors.

Chipotle Mexican Grill Company Profile

(Get Rating)

Chipotle Mexican Grill, Inc, together with its subsidiaries, owns and operates Chipotle Mexican Grill restaurants. As of September 30, 2022, it owned and operated approximately 3,100 restaurants in the United States, Canada, the United Kingdom, France, Germany, and rest of Europe. The company was founded in 1993 and is headquartered in Newport Beach, California.

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