HB Wealth Management LLC Boosts Stock Position in Chipotle Mexican Grill, Inc. (NYSE:CMG)

Key Points

• HB Wealth Management LLC increased its stake in Chipotle Mexican Grill by 50.4%, bringing its total holdings to $2.58 million.
• Analysts have mixed opinions on Chipotle, with TD Securities maintaining a "buy" rating and a target price of $57, while others have lowered their expectations.
• Insider Roger E. Theodoredis sold 113,875 shares at an average price of $49.70, significantly reducing his ownership in the company.

HB Wealth Management LLC grew its position in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG - Free Report) by 50.4% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 51,301 shares of the restaurant operator's stock after buying an additional 17,196 shares during the quarter. HB Wealth Management LLC's holdings in Chipotle Mexican Grill were worth $2,576,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Cloud Capital Management LLC bought a new stake in shares of Chipotle Mexican Grill in the 1st quarter worth approximately $25,000. HighMark Wealth Management LLC raised its holdings in shares of Chipotle Mexican Grill by 173.4% in the 1st quarter. HighMark Wealth Management LLC now owns 585 shares of the restaurant operator's stock worth $29,000 after purchasing an additional 371 shares during the period. North Capital Inc. bought a new stake in shares of Chipotle Mexican Grill in the 1st quarter worth approximately $30,000. ORG Wealth Partners LLC bought a new stake in shares of Chipotle Mexican Grill in the 1st quarter worth approximately $31,000. Finally, Mechanics Financial Corp bought a new stake in shares of Chipotle Mexican Grill in the 1st quarter worth approximately $38,000. Institutional investors own 91.31% of the company's stock.

Chipotle Mexican Grill Price Performance

NYSE CMG traded down $0.59 during trading on Thursday, hitting $43.17. 10,839,763 shares of the company's stock traded hands, compared to its average volume of 13,765,229. The stock has a fifty day moving average of $52.32 and a two-hundred day moving average of $52.35. Chipotle Mexican Grill, Inc. has a 12-month low of $42.93 and a 12-month high of $66.74. The firm has a market cap of $58.16 billion, a P/E ratio of 38.62, a PEG ratio of 2.26 and a beta of 1.08.

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The restaurant operator reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.01. Chipotle Mexican Grill had a net margin of 13.32% and a return on equity of 43.50%. The business had revenue of $3.06 billion during the quarter, compared to analyst estimates of $3.11 billion. During the same period in the prior year, the business posted $0.34 earnings per share. The company's revenue was up 3.0% on a year-over-year basis. As a group, analysts expect that Chipotle Mexican Grill, Inc. will post 1.29 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently commented on CMG. Royal Bank Of Canada lowered their price target on shares of Chipotle Mexican Grill from $65.00 to $60.00 and set an "outperform" rating on the stock in a report on Thursday, April 24th. Citigroup lowered their price target on shares of Chipotle Mexican Grill from $68.00 to $62.00 and set a "buy" rating on the stock in a report on Thursday, July 24th. JPMorgan Chase & Co. lowered their price target on shares of Chipotle Mexican Grill from $58.00 to $54.00 and set a "neutral" rating on the stock in a report on Thursday, May 29th. Morgan Stanley lowered their target price on shares of Chipotle Mexican Grill from $67.00 to $65.00 and set an "overweight" rating on the stock in a report on Thursday, April 24th. Finally, Redburn Atlantic assumed coverage on Chipotle Mexican Grill in a report on Tuesday, June 10th. They issued a "neutral" rating and a $55.00 price target for the company. Nine research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Chipotle Mexican Grill presently has an average rating of "Moderate Buy" and a consensus price target of $60.71.

Insider Buying and Selling at Chipotle Mexican Grill

In other news, insider Roger E. Theodoredis sold 113,875 shares of the stock in a transaction dated 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 completion of the sale, the insider directly owned 109,815 shares in the company, valued at approximately $5,457,805.50. This represents a 50.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.81% of the company's stock.

Chipotle Mexican Grill Company 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.