Wells Fargo & Company Issues Pessimistic Forecast for Chipotle Mexican Grill (NYSE:CMG) Stock Price

Chipotle Mexican Grill (NYSE:CMG) had its price target lowered by equities researchers at Wells Fargo & Company from $75.00 to $70.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the restaurant operator’s stock. Wells Fargo & Company‘s target price would suggest a potential upside of 21.51% from the company’s previous close.

CMG has been the subject of a number of other reports. 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. Stephens dropped their target price on shares of Chipotle Mexican Grill from $61.00 to $60.00 and set an “equal weight” rating for the company in a research report on Wednesday. Jefferies Financial Group upped their target price on shares of Chipotle Mexican Grill from $56.00 to $62.00 and gave the stock a “hold” rating in a research report on Monday, December 16th. Wedbush dropped their target price on shares of Chipotle Mexican Grill from $69.00 to $64.00 and set an “outperform” rating for the company in a research report on Wednesday. Finally, Truist Financial increased their price objective on shares of Chipotle Mexican Grill from $72.00 to $74.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Ten analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $66.42.

Chipotle Mexican Grill Stock Performance

Shares of CMG traded down $1.41 during mid-day trading on Wednesday, hitting $57.61. 6,631,732 shares of the company traded hands, compared to its average volume of 9,583,063. The stock has a 50-day moving average price of $60.36 and a two-hundred day moving average price of $57.84. Chipotle Mexican Grill has a 1 year low of $47.98 and a 1 year high of $69.26. The stock has a market cap of $78.50 billion, a price-to-earnings ratio of 53.96, a P/E/G ratio of 2.07 and a beta of 1.27.

Chipotle Mexican Grill (NYSE:CMG) last announced its earnings results on Tuesday, February 4th. The restaurant operator reported $0.25 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.01. Chipotle Mexican Grill had a net margin of 13.51% and a return on equity of 43.20%. On average, analysts forecast that Chipotle Mexican Grill will post 1.11 EPS for the current year.

Insider Activity

In related news, insider Laurie Schalow sold 4,404 shares of the business’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $65.01, for a total value of $286,304.04. Following the completion of the sale, the insider now owns 185,792 shares of the company’s stock, valued at approximately $12,078,337.92. The trade was a 2.32 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.02% of the company’s stock.

Institutional Investors Weigh In On Chipotle Mexican Grill

A number of large investors have recently modified their holdings of CMG. Alphinity Investment Management Pty Ltd purchased a new stake in shares of Chipotle Mexican Grill during the fourth quarter worth $692,701,000. Assenagon Asset Management S.A. grew its holdings in shares of Chipotle Mexican Grill by 1,087.9% during the third quarter. Assenagon Asset Management S.A. now owns 4,712,724 shares of the restaurant operator’s stock worth $271,547,000 after buying an additional 4,315,983 shares in the last quarter. Congress Asset Management Co. purchased a new stake in shares of Chipotle Mexican Grill during the third quarter worth $109,396,000. Thrivent Financial for Lutherans grew its holdings in shares of Chipotle Mexican Grill by 674.3% during the third quarter. Thrivent Financial for Lutherans now owns 2,122,778 shares of the restaurant operator’s stock worth $122,314,000 after buying an additional 1,848,625 shares in the last quarter. Finally, Raymond James & Associates boosted its position in shares of Chipotle Mexican Grill by 94.3% during the 3rd quarter. Raymond James & Associates now owns 2,969,776 shares of the restaurant operator’s stock valued at $171,118,000 after acquiring an additional 1,441,172 shares during the last quarter. Hedge funds and other institutional investors 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.