Triad Wealth Partners LLC Acquires Shares of 4,050 Chipotle Mexican Grill, Inc. (NYSE:CMG)

Triad Wealth Partners LLC bought a new position in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG) during the second quarter, according to its most recent filing with the SEC. The fund bought 4,050 shares of the restaurant operator’s stock, valued at approximately $254,000.

A number of other hedge funds also recently made changes to their positions in CMG. NewEdge Wealth LLC increased its position in Chipotle Mexican Grill by 7.1% in the fourth quarter. NewEdge Wealth LLC now owns 120 shares of the restaurant operator’s stock worth $274,000 after buying an additional 8 shares during the last quarter. Vontobel Holding Ltd. increased its holdings in Chipotle Mexican Grill by 1.5% in the 4th quarter. Vontobel Holding Ltd. now owns 1,006 shares of the restaurant operator’s stock worth $2,301,000 after acquiring an additional 15 shares during the last quarter. Mackenzie Financial Corp raised its stake in Chipotle Mexican Grill by 4.0% in the 4th quarter. Mackenzie Financial Corp now owns 2,426 shares of the restaurant operator’s stock valued at $5,548,000 after acquiring an additional 94 shares during the period. Keel Point LLC purchased a new stake in Chipotle Mexican Grill during the fourth quarter valued at about $261,000. Finally, SVB Wealth LLC purchased a new stake in Chipotle Mexican Grill during the fourth quarter valued at about $309,000. 91.31% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Stephens reissued an “equal weight” rating and issued a $61.00 price target on shares of Chipotle Mexican Grill in a research report on Tuesday. Guggenheim increased their target price on Chipotle Mexican Grill from $54.50 to $55.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th. JPMorgan Chase & Co. lifted their price target on Chipotle Mexican Grill from $55.00 to $60.00 and gave the company a “neutral” rating in a research report on Monday, June 3rd. StockNews.com cut Chipotle Mexican Grill from a “buy” rating to a “hold” rating in a report on Thursday, July 4th. Finally, Argus lifted their target price on Chipotle Mexican Grill from $73.36 to $77.76 and gave the company a “buy” rating in a report on Tuesday, June 18th. Ten investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $62.36.

Chipotle Mexican Grill Stock Performance

CMG traded down $1.51 during midday trading on Friday, hitting $52.46. The stock had a trading volume of 21,280,600 shares, compared to its average volume of 15,212,807. Chipotle Mexican Grill, Inc. has a 1 year low of $35.37 and a 1 year high of $69.26. The business has a fifty day moving average of $122.52 and a 200 day moving average of $80.27. The company has a market cap of $72.05 billion, a P/E ratio of 55.81, a price-to-earnings-growth ratio of 2.23 and a beta of 1.24.

Chipotle Mexican Grill (NYSE:CMG) last announced its quarterly earnings data on Wednesday, July 24th. The restaurant operator reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.02. The company had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $2.94 billion. Chipotle Mexican Grill had a net margin of 13.23% and a return on equity of 44.01%. The firm’s revenue was up 18.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $12.65 EPS. On average, equities research analysts anticipate that Chipotle Mexican Grill, Inc. will post 1.09 earnings per share for the current year.

Insider Activity

In other news, insider Curtis E. Garner sold 17,394 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $54.68, for a total value of $951,103.92. Following the transaction, the insider now owns 358,300 shares in the company, valued at $19,591,844. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.02% of the company’s stock.

About Chipotle Mexican Grill

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.