Financial Gravity Asset Management Inc. Acquires Shares of 44,431 Chipotle Mexican Grill, Inc. (NYSE:CMG)

Financial Gravity Asset Management Inc. acquired a new position in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 44,431 shares of the restaurant operator's stock, valued at approximately $2,231,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Revolve Wealth Partners LLC grew its position in Chipotle Mexican Grill by 4.7% during the 4th quarter. Revolve Wealth Partners LLC now owns 4,804 shares of the restaurant operator's stock worth $290,000 after acquiring an additional 214 shares during the last quarter. Money Concepts Capital Corp lifted its holdings in Chipotle Mexican Grill by 3.0% during the 1st quarter. Money Concepts Capital Corp now owns 7,491 shares of the restaurant operator's stock worth $376,000 after buying an additional 221 shares during the period. SlateStone Wealth LLC lifted its holdings in Chipotle Mexican Grill by 3.4% during the 4th quarter. SlateStone Wealth LLC now owns 7,196 shares of the restaurant operator's stock worth $434,000 after buying an additional 235 shares during the period. Northwest Bank & Trust Co lifted its holdings in Chipotle Mexican Grill by 0.5% during the 4th quarter. Northwest Bank & Trust Co now owns 45,324 shares of the restaurant operator's stock worth $2,788,000 after buying an additional 236 shares during the period. Finally, Linden Thomas Advisory Services LLC lifted its holdings in Chipotle Mexican Grill by 2.6% during the 1st quarter. Linden Thomas Advisory Services LLC now owns 9,728 shares of the restaurant operator's stock worth $488,000 after buying an additional 243 shares during the period. Institutional investors own 91.31% of the company's stock.

Insider Activity

In other news, insider Roger E. Theodoredis sold 113,875 shares of the company'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 transaction, the insider directly owned 109,815 shares of the company's stock, valued at $5,457,805.50. This represents a 50.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.81% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Piper Sandler cut their target price on Chipotle Mexican Grill from $59.00 to $52.00 and set a "neutral" rating on the stock in a report on Thursday, April 24th. TD Securities reaffirmed a "buy" rating and set a $57.00 target price on shares of Chipotle Mexican Grill in a report on Wednesday, June 18th. Evercore ISI cut their target price on Chipotle Mexican Grill from $64.00 to $57.00 and set an "outperform" rating on the stock in a report on Thursday, April 24th. JPMorgan Chase & Co. dropped their price objective on Chipotle Mexican Grill from $58.00 to $54.00 and set a "neutral" rating on the stock in a research note on Thursday, May 29th. Finally, Royal Bank Of Canada dropped their price objective on 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. Nine analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $61.25.

Chipotle Mexican Grill Stock Performance

CMG traded down $0.41 during midday trading on Friday, reaching $56.00. 8,282,822 shares of the company were exchanged, compared to its average volume of 12,674,862. The company's fifty day moving average price is $52.58 and its 200 day moving average price is $53.18. The company has a market cap of $75.45 billion, a price-to-earnings ratio of 49.56, a price-to-earnings-growth ratio of 2.79 and a beta of 1.08. Chipotle Mexican Grill, Inc. has a one year low of $44.46 and a one year high of $66.74.

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

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.