Spire Wealth Management Cuts Holdings in Chipotle Mexican Grill, Inc. (NYSE:CMG)

Spire Wealth Management reduced its stake in Chipotle Mexican Grill, Inc. (NYSE:CMG - Free Report) by 46.4% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 66,642 shares of the restaurant operator's stock after selling 57,754 shares during the quarter. Spire Wealth Management's holdings in Chipotle Mexican Grill were worth $3,346,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of CMG. Revolve Wealth Partners LLC lifted its holdings in shares of Chipotle Mexican Grill by 4.7% in the 4th quarter. Revolve Wealth Partners LLC now owns 4,804 shares of the restaurant operator's stock valued at $290,000 after buying an additional 214 shares during the period. Bank Pictet & Cie Europe AG increased its stake in shares of Chipotle Mexican Grill by 22.5% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 1,518,593 shares of the restaurant operator's stock worth $91,571,000 after purchasing an additional 279,267 shares in the last quarter. Wealthspire Advisors LLC raised its holdings in shares of Chipotle Mexican Grill by 17.6% during the fourth quarter. Wealthspire Advisors LLC now owns 11,909 shares of the restaurant operator's stock valued at $718,000 after acquiring an additional 1,786 shares during the last quarter. Crestwood Advisors Group LLC boosted its position in Chipotle Mexican Grill by 25.7% during the fourth quarter. Crestwood Advisors Group LLC now owns 5,491 shares of the restaurant operator's stock worth $331,000 after acquiring an additional 1,121 shares during the last quarter. Finally, Wrapmanager Inc. acquired a new stake in shares of Chipotle Mexican Grill in the 4th quarter worth $304,000. Hedge funds and other institutional investors own 91.31% of the company's stock.

Insider Activity

In related news, insider Roger E. Theodoredis sold 113,875 shares of Chipotle Mexican Grill stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $49.70, for a total value of $5,659,587.50. Following the transaction, the insider now directly owns 109,815 shares in the company, valued at $5,457,805.50. This trade represents a 50.91% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.81% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on CMG. Argus cut Chipotle Mexican Grill from a "buy" rating to a "hold" rating in a research note on Monday, April 28th. Stephens restated an "equal weight" rating and issued a $49.00 price objective on shares of Chipotle Mexican Grill in a report on Monday, June 9th. UBS Group reduced their target price on shares of Chipotle Mexican Grill from $65.00 to $60.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. Redburn Atlantic began coverage on shares of Chipotle Mexican Grill in a research note on Tuesday, June 10th. They issued a "neutral" rating and a $55.00 price target for the company. Finally, KeyCorp reduced their price objective on Chipotle Mexican Grill from $60.00 to $58.00 and set an "overweight" rating on the stock in a research note on Thursday, April 24th. Ten research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $60.71.

Chipotle Mexican Grill Stock Performance

Chipotle Mexican Grill stock traded up $0.40 during midday trading on Friday, hitting $54.67. 2,566,985 shares of the company's stock were exchanged, compared to its average volume of 12,915,387. The stock has a market cap of $73.66 billion, a price-to-earnings ratio of 48.40, a price-to-earnings-growth ratio of 2.73 and a beta of 1.06. Chipotle Mexican Grill, Inc. has a 12-month low of $44.46 and a 12-month high of $66.74. The firm's 50 day simple moving average is $51.10 and its 200 day simple moving average is $53.73.

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The restaurant operator reported $0.29 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.28 by $0.01. The firm had revenue of $2.88 billion for 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 business's revenue was up 6.4% on a year-over-year basis. During the same quarter last year, the company posted $13.37 earnings per share. On average, equities research analysts forecast that Chipotle Mexican Grill, Inc. will post 1.29 EPS 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.