Jessup Wealth Management Inc Makes New Investment in Chipotle Mexican Grill, Inc. (NYSE:CMG)

Jessup Wealth Management Inc bought a new stake in Chipotle Mexican Grill, Inc. (NYSE:CMG) in the third quarter, Holdings Channel.com reports. The institutional investor bought 37,840 shares of the restaurant operator’s stock, valued at approximately $2,180,000. Chipotle Mexican Grill accounts for approximately 1.0% of Jessup Wealth Management Inc’s investment portfolio, making the stock its 22nd largest holding.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Clarius Group LLC boosted its holdings in shares of Chipotle Mexican Grill by 22.6% during the third quarter. Clarius Group LLC now owns 10,662 shares of the restaurant operator’s stock worth $612,000 after purchasing an additional 1,962 shares during the period. Albion Financial Group UT boosted its stake in shares of Chipotle Mexican Grill by 14.4% during the 3rd quarter. Albion Financial Group UT now owns 1,430 shares of the restaurant operator’s stock valued at $82,000 after buying an additional 180 shares during the period. Watts Gwilliam & Co. LLC purchased a new position in shares of Chipotle Mexican Grill during the 3rd quarter valued at $510,000. Tobam increased its stake in shares of Chipotle Mexican Grill by 272.7% in the third quarter. Tobam now owns 110,313 shares of the restaurant operator’s stock worth $6,356,000 after acquiring an additional 80,713 shares during the last quarter. Finally, Northwest Bank & Trust Co raised its holdings in shares of Chipotle Mexican Grill by 1.2% during the third quarter. Northwest Bank & Trust Co now owns 45,088 shares of the restaurant operator’s stock worth $2,597,000 after acquiring an additional 538 shares in the last quarter. Institutional investors and hedge funds own 91.31% of the company’s stock.

Chipotle Mexican Grill Price Performance

Chipotle Mexican Grill stock traded up $1.02 during mid-day trading on Friday, hitting $59.35. 1,562,519 shares of the company’s stock traded hands, compared to its average volume of 14,220,281. Chipotle Mexican Grill, Inc. has a fifty-two week low of $35.37 and a fifty-two week high of $69.26. The stock has a market cap of $81.28 billion, a price-to-earnings ratio of 58.14, a P/E/G ratio of 2.41 and a beta of 1.25. The firm has a 50 day simple moving average of $55.48 and a two-hundred day simple moving average of $81.08.

Chipotle Mexican Grill (NYSE:CMG) last released its quarterly earnings results on Wednesday, July 24th. The restaurant operator reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.02. Chipotle Mexican Grill had a net margin of 13.23% and a return on equity of 44.01%. The company had revenue of $2.97 billion during the quarter, compared to the consensus estimate of $2.94 billion. During the same period in the previous year, the business earned $12.65 earnings per share. The firm’s quarterly revenue was up 18.2% on a year-over-year basis. On average, research analysts anticipate that Chipotle Mexican Grill, Inc. will post 1.08 earnings per share for the current fiscal year.

Insider Activity at Chipotle Mexican Grill

In other Chipotle Mexican Grill news, 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 sale, the director now owns 41,510 shares of the company’s stock, valued at approximately $2,340,333.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Chipotle Mexican Grill news, Director Robin S. Hickenlooper sold 1,790 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $56.38, for a total value of $100,920.20. Following the sale, the director now owns 41,510 shares in the company, valued at $2,340,333.80. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Curtis E. Garner sold 15,750 shares of the firm’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $57.05, for a total value of $898,537.50. Following the sale, the insider now directly owns 457,764 shares in the company, valued at approximately $26,115,436.20. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 50,684 shares of company stock valued at $2,817,127 over the last three months. 1.02% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. TD Cowen reissued a “buy” rating and issued a $65.00 target price on shares of Chipotle Mexican Grill in a research report on Thursday, September 12th. Raymond James decreased their price objective on shares of Chipotle Mexican Grill from $70.00 to $62.50 and set an “outperform” rating for the company in a report on Thursday, July 25th. Stifel Nicolaus reissued a “buy” rating and set a $70.00 target price on shares of Chipotle Mexican Grill in a research report on Wednesday, August 14th. Stephens restated an “equal weight” rating and set a $61.00 price target on shares of Chipotle Mexican Grill in a report on Tuesday, August 13th. Finally, Robert W. Baird cut their price objective on Chipotle Mexican Grill from $74.00 to $62.00 and set an “outperform” rating for the company in a research report on Wednesday, August 14th. Ten equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $62.55.

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.