Wesbanco Bank Inc. Lowers Position in Chipotle Mexican Grill, Inc. (NYSE:CMG)

Wesbanco Bank Inc. decreased its holdings in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG) by 40.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 55,500 shares of the restaurant operator’s stock after selling 37,950 shares during the quarter. Wesbanco Bank Inc.’s holdings in Chipotle Mexican Grill were worth $3,198,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Chipotle Mexican Grill during the 2nd quarter valued at $25,000. Riverview Trust Co increased its stake in Chipotle Mexican Grill by 4,900.0% in the second quarter. Riverview Trust Co now owns 400 shares of the restaurant operator’s stock valued at $25,000 after acquiring an additional 392 shares during the last quarter. RiverPark Advisors LLC raised its position in Chipotle Mexican Grill by 4,900.0% during the second quarter. RiverPark Advisors LLC now owns 400 shares of the restaurant operator’s stock valued at $25,000 after purchasing an additional 392 shares in the last quarter. Archer Investment Corp bought a new stake in Chipotle Mexican Grill during the second quarter worth about $25,000. Finally, Oliver Lagore Vanvalin Investment Group boosted its holdings in shares of Chipotle Mexican Grill by 4,900.0% in the 2nd quarter. Oliver Lagore Vanvalin Investment Group now owns 400 shares of the restaurant operator’s stock worth $25,000 after purchasing an additional 392 shares in the last quarter. 91.31% of the stock is currently owned by institutional investors.

Chipotle Mexican Grill Price Performance

Shares of NYSE CMG opened at $59.81 on Wednesday. Chipotle Mexican Grill, Inc. has a 1 year low of $35.58 and a 1 year high of $69.26. The stock has a market capitalization of $82.14 billion, a P/E ratio of 63.63, a P/E/G ratio of 2.41 and a beta of 1.25. The company’s 50-day moving average is $55.85 and its 200 day moving average is $81.42.

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

Wall Street Analyst Weigh In

CMG has been the topic of a number of research reports. Evercore ISI raised their price objective on Chipotle Mexican Grill from $59.00 to $70.00 and gave the company an “outperform” rating in a report on Tuesday. The Goldman Sachs Group decreased their price target on shares of Chipotle Mexican Grill from $74.60 to $67.00 and set a “buy” rating on the stock in a research note on Thursday, July 25th. Stifel Nicolaus restated a “buy” rating and issued a $70.00 price objective on shares of Chipotle Mexican Grill in a report on Wednesday, August 14th. Piper Sandler increased their target price on shares of Chipotle Mexican Grill from $56.00 to $59.00 and gave the company a “neutral” rating in a report on Friday, October 11th. Finally, TD Cowen reissued a “buy” rating and issued a $65.00 price target on shares of Chipotle Mexican Grill in a research note on Thursday, September 12th. Ten 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 presently has an average rating of “Moderate Buy” and an average target price of $63.03.

Insider Buying and Selling

In other Chipotle Mexican Grill news, insider Curtis E. Garner sold 17,394 shares of the firm’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $54.68, for a total transaction of $951,103.92. Following the completion of the transaction, the insider now owns 358,300 shares of the company’s stock, valued at approximately $19,591,844. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Director Robin S. Hickenlooper sold 1,790 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $56.38, for a total transaction of $100,920.20. Following the completion of the transaction, the director now owns 41,510 shares of the company’s stock, valued at $2,340,333.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Curtis E. Garner sold 17,394 shares of the business’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $54.68, for a total value of $951,103.92. Following the completion of the sale, the insider now directly owns 358,300 shares in the company, valued at $19,591,844. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 50,684 shares of company stock valued at $2,817,127 over the last ninety days. Company 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.