Icon Wealth Advisors LLC Purchases Shares of 22,715 Chipotle Mexican Grill, Inc. (NYSE:CMG)

Icon Wealth Advisors LLC acquired a new position in Chipotle Mexican Grill, Inc. (NYSE:CMG) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor acquired 22,715 shares of the restaurant operator’s stock, valued at approximately $1,309,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Advisors Asset Management Inc. lifted its stake in Chipotle Mexican Grill by 53.7% in the first quarter. Advisors Asset Management Inc. now owns 455 shares of the restaurant operator’s stock valued at $1,323,000 after buying an additional 159 shares during the period. Canada Pension Plan Investment Board increased its stake in shares of Chipotle Mexican Grill by 296.5% in the 1st quarter. Canada Pension Plan Investment Board now owns 21,144 shares of the restaurant operator’s stock valued at $61,461,000 after acquiring an additional 15,811 shares in the last quarter. LRI Investments LLC acquired a new position in shares of Chipotle Mexican Grill during the 1st quarter valued at $168,000. Morse Asset Management Inc bought a new position in Chipotle Mexican Grill during the first quarter worth $294,000. Finally, SVB Wealth LLC grew its holdings in Chipotle Mexican Grill by 3.7% in the first quarter. SVB Wealth LLC now owns 140 shares of the restaurant operator’s stock worth $407,000 after purchasing an additional 5 shares during the period. 91.31% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on CMG shares. Evercore ISI upped their price objective on shares of Chipotle Mexican Grill from $59.00 to $70.00 and gave the company an “outperform” rating in a report on Tuesday, October 15th. Robert W. Baird upped their price target on Chipotle Mexican Grill from $62.00 to $70.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Truist Financial increased their price target on Chipotle Mexican Grill from $71.00 to $72.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Royal Bank of Canada initiated coverage on Chipotle Mexican Grill in a report on Friday, November 15th. They set an “outperform” rating and a $70.00 price objective for the company. Finally, Piper Sandler increased their target price on Chipotle Mexican Grill from $59.00 to $60.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. 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 data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $65.27.

Insider Activity at Chipotle Mexican Grill

In related news, insider Curtis E. Garner sold 15,750 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $57.05, for a total value of $898,537.50. Following the transaction, the insider now owns 457,764 shares in the company, valued at approximately $26,115,436.20. This represents a 3.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robin S. Hickenlooper sold 1,790 shares of the firm’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $56.38, for a total value of $100,920.20. Following the completion of the sale, the director now directly owns 41,510 shares of the company’s stock, valued at $2,340,333.80. This represents a 4.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 33,290 shares of company stock worth $1,866,023. 1.02% of the stock is owned by company insiders.

Chipotle Mexican Grill Trading Up 3.4 %

Shares of CMG opened at $62.02 on Friday. The stock has a 50 day moving average of $58.45 and a 200 day moving average of $80.94. The company has a market capitalization of $84.51 billion, a price-to-earnings ratio of 57.73, a PEG ratio of 2.36 and a beta of 1.26. Chipotle Mexican Grill, Inc. has a 12 month low of $43.66 and a 12 month high of $69.26.

Chipotle Mexican Grill (NYSE:CMG) last announced its quarterly earnings data on Tuesday, October 29th. The restaurant operator reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.02. The firm had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.82 billion. Chipotle Mexican Grill had a return on equity of 43.20% and a net margin of 13.51%. The business’s revenue for the quarter was up 13.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.23 EPS. As a group, equities research analysts predict that Chipotle Mexican Grill, Inc. will post 1.11 earnings per share for the current year.

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.