Wells Fargo & Company Cuts Chipotle Mexican Grill (NYSE:CMG) Price Target to $60.00

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

Other equities research analysts have also issued reports about the company. Stifel Nicolaus decreased their target price on Chipotle Mexican Grill from $68.00 to $65.00 and set a “buy” rating on the stock in a report on Wednesday, March 19th. JPMorgan Chase & Co. lowered their price objective on Chipotle Mexican Grill from $64.00 to $58.00 and set a “neutral” rating on the stock in a research report on Thursday, March 20th. Sanford C. Bernstein reissued an “outperform” rating and issued a $70.00 target price on shares of Chipotle Mexican Grill in a report on Tuesday, January 28th. UBS Group lowered their price target on shares of Chipotle Mexican Grill from $70.00 to $65.00 and set a “buy” rating on the stock in a report on Wednesday, April 16th. Finally, Barclays reduced their price objective on shares of Chipotle Mexican Grill from $63.00 to $60.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 5th. Eight analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $61.96.

Chipotle Mexican Grill Price Performance

Shares of CMG opened at $49.50 on Tuesday. The firm has a market capitalization of $67.09 billion, a P/E ratio of 44.59, a PEG ratio of 2.04 and a beta of 1.27. Chipotle Mexican Grill has a one year low of $44.46 and a one year high of $69.26. The business has a fifty day moving average of $50.16 and a 200 day moving average of $56.33.

Chipotle Mexican Grill (NYSE:CMG) last released its quarterly earnings results on Wednesday, April 23rd. The restaurant operator reported $0.29 EPS for the quarter, beating the consensus estimate of $0.28 by $0.01. The firm had revenue of $2.88 billion during the quarter, compared to analyst estimates of $2.98 billion. Chipotle Mexican Grill had a net margin of 13.56% and a return on equity of 42.92%. Analysts expect that Chipotle Mexican Grill will post 1.29 EPS for the current fiscal year.

Institutional Trading of Chipotle Mexican Grill

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. HighMark Wealth Management LLC raised its holdings in shares of Chipotle Mexican Grill by 173.4% in the first quarter. HighMark Wealth Management LLC now owns 585 shares of the restaurant operator’s stock worth $29,000 after buying an additional 371 shares during the period. Ethos Financial Group LLC bought a new position in Chipotle Mexican Grill in the 4th quarter valued at $31,000. ORG Wealth Partners LLC purchased a new stake in Chipotle Mexican Grill in the first quarter worth $31,000. Sound Income Strategies LLC lifted its position in shares of Chipotle Mexican Grill by 1,110.0% during the fourth quarter. Sound Income Strategies LLC now owns 605 shares of the restaurant operator’s stock worth $36,000 after purchasing an additional 555 shares during the last quarter. Finally, Murphy & Mullick Capital Management Corp purchased a new stake in shares of Chipotle Mexican Grill during the fourth quarter valued at $38,000. 91.31% of the stock is owned by hedge funds and other institutional investors.

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.