Chipotle Mexican Grill, Inc. $CMG Shares Purchased by Wesbanco Bank Inc.

Key Points

• Wesbanco Bank Inc. increased its Chipotle Mexican Grill stake by 155.9% in the fourth quarter, adding 124,285 shares to reach 204,019 shares valued at about $7.55 million.
• Chipotle reported Q1 earnings of $0.24 per share, matching expectations, on revenue of $3.09 billion, which was up 7.4% year over year and slightly above estimates.
• Shares of CMG were down 2.5% to $32.43, while analysts remain broadly constructive with a consensus rating of Moderate Buy and an average price target of $46.03.

Wesbanco Bank Inc. boosted its position in Chipotle Mexican Grill, Inc. (NYSE:CMG - Free Report) by 155.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 204,019 shares of the restaurant operator's stock after acquiring an additional 124,285 shares during the quarter. Wesbanco Bank Inc.'s holdings in Chipotle Mexican Grill were worth $7,549,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Financial Life Planners acquired a new stake in Chipotle Mexican Grill in the third quarter valued at approximately $25,000. Wealth Watch Advisors INC acquired a new stake in Chipotle Mexican Grill in the third quarter valued at approximately $25,000. Steigerwald Gordon & Koch Inc. acquired a new stake in Chipotle Mexican Grill in the third quarter valued at approximately $29,000. Murphy & Mullick Capital Management Corp raised its holdings in Chipotle Mexican Grill by 106.7% in the third quarter. Murphy & Mullick Capital Management Corp now owns 775 shares of the restaurant operator's stock valued at $30,000 after acquiring an additional 400 shares in the last quarter. Finally, Winthrop Capital Management LLC acquired a new stake in Chipotle Mexican Grill in the third quarter valued at approximately $31,000. Institutional investors and hedge funds own 91.30% of the company's stock.

Analyst Upgrades and Downgrades

CMG has been the topic of several analyst reports. Piper Sandler reduced their target price on shares of Chipotle Mexican Grill from $44.00 to $42.00 and set an "overweight" rating on the stock in a report on Thursday, April 30th. Citigroup raised their target price on shares of Chipotle Mexican Grill from $44.00 to $46.00 and gave the stock a "buy" rating in a research report on Thursday, April 30th. BNP Paribas Exane lifted their price target on Chipotle Mexican Grill from $37.00 to $39.00 and gave the company a "neutral" rating in a research note on Thursday, April 30th. Wells Fargo & Company decreased their price objective on shares of Chipotle Mexican Grill from $50.00 to $45.00 and set an "overweight" rating on the stock in a report on Wednesday, February 4th. Finally, Deutsche Bank Aktiengesellschaft reissued a "buy" rating and set a $48.00 price objective on shares of Chipotle Mexican Grill in a report on Wednesday, February 4th. Twenty-four analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $46.03.

Chipotle Mexican Grill Trading Down 2.5%

CMG stock opened at $32.43 on Friday. Chipotle Mexican Grill, Inc. has a 52 week low of $29.75 and a 52 week high of $58.42. The company's 50-day moving average price is $34.13 and its 200 day moving average price is $35.71. The company has a market cap of $41.60 billion, a P/E ratio of 29.75, a P/E/G ratio of 2.14 and a beta of 1.03.

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) last released its quarterly earnings data on Wednesday, April 29th. The restaurant operator reported $0.24 EPS for the quarter, hitting the consensus estimate of $0.24. Chipotle Mexican Grill had a net margin of 11.96% and a return on equity of 49.64%. The business had revenue of $3.09 billion for the quarter, compared to analyst estimates of $3.07 billion. During the same period in the previous year, the firm earned $0.29 EPS. The business's revenue for the quarter was up 7.4% compared to the same quarter last year. On average, equities research analysts expect that Chipotle Mexican Grill, Inc. will post 1.13 earnings per share for the current year.

Chipotle Mexican Grill Profile

Chipotle Mexican Grill is a fast-casual restaurant company known for its Mexican-inspired menu of burritos, bowls, tacos and salads. Founded in 1993 by Steve Ells, the chain emphasizes fresh, customizable meals made from a limited menu of core ingredients and a focus on ingredient quality. Chipotle operates primarily company-owned restaurants and offers dine-in, takeout, catering and delivery through its own digital platforms and third-party partners.

The company is headquartered in Newport Beach, California, and traces its roots to Denver, Colorado.

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