Avantax Advisory Services Inc. Buys 13,658 Shares of Chipotle Mexican Grill, Inc. (NYSE:CMG)

Avantax Advisory Services Inc. lifted its stake in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG - Free Report) by 22.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 74,253 shares of the restaurant operator's stock after purchasing an additional 13,658 shares during the quarter. Avantax Advisory Services Inc.'s holdings in Chipotle Mexican Grill were worth $3,728,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cloud Capital Management LLC acquired a new stake in shares of Chipotle Mexican Grill in the 1st quarter worth $25,000. HighMark Wealth Management LLC raised its holdings in Chipotle Mexican Grill by 173.4% during the first quarter. HighMark Wealth Management LLC now owns 585 shares of the restaurant operator's stock worth $29,000 after purchasing an additional 371 shares in the last quarter. North Capital Inc. acquired a new stake in Chipotle Mexican Grill in the first quarter valued at about $30,000. ORG Wealth Partners LLC purchased a new stake in Chipotle Mexican Grill in the 1st quarter valued at approximately $31,000. Finally, Mechanics Financial Corp purchased a new stake in Chipotle Mexican Grill in the 1st quarter valued at approximately $38,000. 91.31% of the stock is currently owned by hedge funds and other institutional investors.

Chipotle Mexican Grill Price Performance

Shares of CMG traded down $0.37 during trading hours on Friday, reaching $42.51. 8,863,436 shares of the company's stock traded hands, compared to its average volume of 13,849,618. The business's fifty day simple moving average is $52.16 and its two-hundred day simple moving average is $52.26. The firm has a market capitalization of $57.27 billion, a price-to-earnings ratio of 37.95, a P/E/G ratio of 2.23 and a beta of 1.08. Chipotle Mexican Grill, Inc. has a twelve month low of $42.50 and a twelve month high of $66.74.

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) last released its earnings results on Wednesday, July 23rd. The restaurant operator reported $0.33 EPS for the quarter, topping analysts' consensus estimates of $0.32 by $0.01. The business had revenue of $3.06 billion for the quarter, compared to the consensus estimate of $3.11 billion. Chipotle Mexican Grill had a net margin of 13.32% and a return on equity of 43.50%. The business's revenue for the quarter was up 3.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.34 EPS. On average, equities research analysts expect that Chipotle Mexican Grill, Inc. will post 1.29 EPS for the current year.

Insider Activity

In related news, insider Roger E. Theodoredis sold 113,875 shares of the business's stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $49.70, for a total value of $5,659,587.50. Following the completion of the sale, the insider owned 109,815 shares of the company's stock, valued at approximately $5,457,805.50. The trade was a 50.91% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.81% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on CMG shares. TD Cowen cut their price objective on Chipotle Mexican Grill from $61.00 to $58.00 and set a "buy" rating for the company in a research report on Wednesday, July 23rd. Guggenheim cut their price objective on Chipotle Mexican Grill from $47.00 to $46.00 and set a "neutral" rating for the company in a research report on Friday, July 25th. Redburn Atlantic began coverage on Chipotle Mexican Grill in a research report on Tuesday, June 10th. They set a "neutral" rating and a $55.00 price objective for the company. Royal Bank Of Canada reduced their price objective on shares of Chipotle Mexican Grill from $65.00 to $60.00 and set an "outperform" rating on the stock in a research note on Thursday, April 24th. Finally, Stephens restated an "equal weight" rating and set a $60.00 target price on shares of Chipotle Mexican Grill in a research report on Thursday, July 24th. Nine investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $60.71.

Chipotle Mexican Grill 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.