Chipotle Mexican Grill’s (CMG) Hold Rating Reaffirmed at Wells Fargo & Company

Wells Fargo & Company reissued their hold rating on shares of Chipotle Mexican Grill, Inc. (NYSE:CMG) in a report released on Friday morning.

Other equities analysts have also issued research reports about the company. Nomura cut their price target on Chipotle Mexican Grill from $510.00 to $480.00 in a research note on Tuesday, June 20th. Mizuho restated a buy rating and set a $533.00 price target on shares of Chipotle Mexican Grill in a research note on Wednesday, June 21st. BMO Capital Markets restated a buy rating and set a $550.00 price target on shares of Chipotle Mexican Grill in a research note on Thursday, June 22nd. Maxim Group upgraded Chipotle Mexican Grill from a hold rating to a buy rating and raised their price target for the company from $440.00 to $470.00 in a research note on Tuesday, July 18th. Finally, SunTrust Banks, Inc. reiterated a buy rating and issued a $505.00 target price (down previously from $520.00) on shares of Chipotle Mexican Grill in a research note on Wednesday, July 26th. Seven equities research analysts have rated the stock with a sell rating, twenty-three have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of Hold and an average target price of $392.13.

Chipotle Mexican Grill (NYSE:CMG) traded up 3.91% during mid-day trading on Friday, hitting $326.45. 2,118,977 shares of the stock were exchanged. The stock has a 50 day moving average of $311.30 and a 200-day moving average of $394.98. Chipotle Mexican Grill has a 52-week low of $295.11 and a 52-week high of $499.00. The stock has a market cap of $9.31 billion, a price-to-earnings ratio of 70.17 and a beta of 0.60.

Chipotle Mexican Grill (NYSE:CMG) last released its earnings results on Tuesday, July 25th. The restaurant operator reported $2.32 earnings per share for the quarter, topping the consensus estimate of $2.16 by $0.16. Chipotle Mexican Grill had a return on equity of 10.65% and a net margin of 3.17%. The business had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same period last year, the company earned $0.87 earnings per share. The business’s revenue for the quarter was up 17.1% compared to the same quarter last year. Equities analysts predict that Chipotle Mexican Grill will post $7.46 EPS for the current fiscal year.

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A number of large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in Chipotle Mexican Grill by 2.3% during the 2nd quarter. Vanguard Group Inc. now owns 2,783,059 shares of the restaurant operator’s stock worth $1,158,031,000 after acquiring an additional 63,636 shares during the period. State Street Corp lifted its position in Chipotle Mexican Grill by 3.7% during the 1st quarter. State Street Corp now owns 1,237,517 shares of the restaurant operator’s stock worth $551,348,000 after acquiring an additional 44,694 shares during the period. American Century Companies Inc. lifted its position in Chipotle Mexican Grill by 59.8% during the 2nd quarter. American Century Companies Inc. now owns 563,698 shares of the restaurant operator’s stock worth $234,555,000 after acquiring an additional 210,872 shares during the period. Carmignac Gestion lifted its position in Chipotle Mexican Grill by 162.5% during the 2nd quarter. Carmignac Gestion now owns 516,751 shares of the restaurant operator’s stock worth $215,020,000 after acquiring an additional 319,875 shares during the period. Finally, Renaissance Technologies LLC lifted its position in Chipotle Mexican Grill by 169.1% during the 2nd quarter. Renaissance Technologies LLC now owns 446,100 shares of the restaurant operator’s stock worth $185,622,000 after acquiring an additional 280,300 shares during the period. Hedge funds and other institutional investors own 90.04% of the company’s stock.

About Chipotle Mexican Grill

Chipotle Mexican Grill, Inc (Chipotle), together with its subsidiaries, operates Chipotle Mexican Grill restaurants. The Company’s Chipotle Mexican Grill restaurants serve a menu of burritos, tacos, burrito bowls (a burrito without the tortilla) and salads. As of December 31, 2016, the Company managed its operations and restaurants based on 11 regions.

Analyst Recommendations for Chipotle Mexican Grill (NYSE:CMG)

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