Fintel reports that on August 14, 2024, Wedbush upgraded their outlook for Chipotle Mexican Grill (NYSE:CMG) from Neutral to Outperform.
Analyst Price Forecast Suggests 25.46% Upside
As of August 6, 2024, the average one-year price target for Chipotle Mexican Grill is $64.84/share. The forecasts range from a low of $44.44 to a high of $84.00. The average price target represents an increase of 25.46% from its latest reported closing price of $51.68 / share.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Chipotle Mexican Grill is 11,364MM, an increase of 6.57%. The projected annual non-GAAP EPS is 53.06.
What is the Fund Sentiment?
There are 2,428 funds or institutions reporting positions in Chipotle Mexican Grill. This is an increase of 199 owner(s) or 8.93% in the last quarter. Average portfolio weight of all funds dedicated to CMG is 0.44%, an increase of 5.94%. Total shares owned by institutions increased in the last three months by 2,317.51% to 745,664K shares. 
The put/call ratio of CMG is 0.90, indicating a bullish outlook.
What are Other Shareholders Doing?
Price T Rowe Associates holds 51,481K shares representing 3.76% ownership of the company. In its prior filing, the firm reported owning 1,086K shares , representing an increase of 97.89%. The firm decreased its portfolio allocation in CMG by 0.23% over the last quarter.
Jpmorgan Chase holds 49,019K shares representing 3.58% ownership of the company. In its prior filing, the firm reported owning 1,154K shares , representing an increase of 97.65%. The firm decreased its portfolio allocation in CMG by 86.08% over the last quarter.
Capital World Investors holds 39,514K shares representing 2.89% ownership of the company. In its prior filing, the firm reported owning 874K shares , representing an increase of 97.79%. The firm decreased its portfolio allocation in CMG by 4.04% over the last quarter.
Capital International Investors holds 30,250K shares representing 2.21% ownership of the company. In its prior filing, the firm reported owning 814K shares , representing an increase of 97.31%. The firm decreased its portfolio allocation in CMG by 18.60% over the last quarter.
Pershing Square Capital Management holds 28,815K shares representing 2.10% ownership of the company. In its prior filing, the firm reported owning 744K shares , representing an increase of 97.42%. The firm decreased its portfolio allocation in CMG by 13.72% over the last quarter.
Chipotle Mexican Grill Background Information
(This description is provided by the company.)
Chipotle Mexican Grill, Inc. is cultivating a better world by serving responsibly sourced, classically-cooked, real food with wholesome ingredients without artificial colors, flavors or preservatives. Chipotle had over 2,700 restaurants as of September 30, 2020, in the United States, Canada, the United Kingdom, France and Germany and is the only restaurant company of its size that owns and operates all its restaurants. With more than 94,000 employees passionate about providing a great guest experience, Chipotle is a longtime leader and innovator in the food industry. Chipotle is committed to making its food more accessible to everyone while continuing to be a brand with a demonstrated purpose as it leads the way in digital, technology and sustainable business practices. Steve Ells, founder and former executive chairman, first opened Chipotle with a single restaurant in Denver, Coloradoin 1993.
Fintel is one of the most comprehensive investing research platforms available to individual investors, traders, financial advisors, and small hedge funds.
Our data covers the world, and includes fundamentals, analyst reports, ownership data and fund sentiment, options sentiment, insider trading, options flow, unusual options trades, and much more. Additionally, our exclusive stock picks are powered by advanced, backtested quantitative models for improved profits.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
