Moran Wealth Management LLC Raises Stake in Chipotle Mexican Grill, Inc. (NYSE:CMG)

Moran Wealth Management LLC increased its stake in Chipotle Mexican Grill, Inc. (NYSE:CMG - Free Report) by 1,558.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 208,517 shares of the restaurant operator's stock after buying an additional 195,946 shares during the quarter. Moran Wealth Management LLC's holdings in Chipotle Mexican Grill were worth $10,470,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of Chipotle Mexican Grill in the fourth quarter worth approximately $1,093,345,000. Alphinity Investment Management Pty Ltd bought a new position in Chipotle Mexican Grill in the 4th quarter valued at $692,701,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its stake in Chipotle Mexican Grill by 4,138,574.1% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 8,318,735 shares of the restaurant operator's stock worth $501,620,000 after purchasing an additional 8,318,534 shares during the period. Alliancebernstein L.P. increased its stake in Chipotle Mexican Grill by 29.5% in the fourth quarter. Alliancebernstein L.P. now owns 30,100,520 shares of the restaurant operator's stock worth $1,815,061,000 after purchasing an additional 6,853,470 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in shares of Chipotle Mexican Grill during the fourth quarter worth $315,220,000. 91.31% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Roger E. Theodoredis sold 113,875 shares of the business's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $49.70, for a total transaction of $5,659,587.50. Following the sale, the insider now directly owns 109,815 shares of the company's stock, valued at $5,457,805.50. The trade was a 50.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.81% of the company's stock.

Chipotle Mexican Grill Stock Down 1.6%

Shares of Chipotle Mexican Grill stock traded down $0.89 during trading on Thursday, reaching $54.25. The company's stock had a trading volume of 13,119,295 shares, compared to its average volume of 13,012,692. Chipotle Mexican Grill, Inc. has a 1-year low of $44.46 and a 1-year high of $66.74. The company has a 50-day simple moving average of $50.97 and a two-hundred day simple moving average of $53.80. The company has a market cap of $73.09 billion, a price-to-earnings ratio of 48.01, a P/E/G ratio of 2.71 and a beta of 1.06.

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The restaurant operator reported $0.29 EPS for the quarter, beating analysts' consensus estimates of $0.28 by $0.01. The company had revenue of $2.88 billion during the quarter, compared to analysts' expectations of $2.98 billion. Chipotle Mexican Grill had a return on equity of 43.29% and a net margin of 13.59%. The firm's revenue was up 6.4% compared to the same quarter last year. During the same period last year, the business posted $13.37 earnings per share. As a group, analysts anticipate that Chipotle Mexican Grill, Inc. will post 1.29 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Guggenheim set a $47.00 price target on shares of Chipotle Mexican Grill in a research note on Friday, April 25th. Stifel Nicolaus decreased their price target on shares of Chipotle Mexican Grill from $68.00 to $65.00 and set a "buy" rating for the company in a research note on Wednesday, March 19th. Piper Sandler lowered their price target on Chipotle Mexican Grill from $59.00 to $52.00 and set a "neutral" rating for the company in a report on Thursday, April 24th. Citigroup reduced their price objective on Chipotle Mexican Grill from $70.00 to $62.00 and set a "buy" rating on the stock in a report on Wednesday, April 2nd. Finally, Barclays lifted their target price on Chipotle Mexican Grill from $52.00 to $54.00 and gave the company an "equal weight" rating in a research report on Thursday. Ten research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Chipotle Mexican Grill currently has a consensus rating of "Moderate Buy" and an average price target of $60.71.

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.