Onyx Bridge Wealth Group LLC Takes $220,000 Position in Chipotle Mexican Grill, Inc. (NYSE:CMG)

Onyx Bridge Wealth Group LLC purchased a new stake in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 3,511 shares of the restaurant operator’s stock, valued at approximately $220,000.

Several other institutional investors and hedge funds have also recently modified their holdings of CMG. Steph & Co. acquired a new position in Chipotle Mexican Grill in the first quarter valued at about $29,000. Semmax Financial Advisors Inc. increased its stake in Chipotle Mexican Grill by 225.0% during the first quarter. Semmax Financial Advisors Inc. now owns 13 shares of the restaurant operator’s stock worth $42,000 after purchasing an additional 9 shares during the period. Crewe Advisors LLC purchased a new stake in Chipotle Mexican Grill during the first quarter worth about $44,000. ICA Group Wealth Management LLC purchased a new stake in Chipotle Mexican Grill during the fourth quarter worth about $37,000. Finally, Westside Investment Management Inc. purchased a new stake in Chipotle Mexican Grill during the first quarter worth about $58,000. Institutional investors and hedge funds own 91.31% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. BTIG Research boosted their price target on shares of Chipotle Mexican Grill from $65.00 to $67.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. Truist Financial restated a “buy” rating and set a $69.00 target price on shares of Chipotle Mexican Grill in a research note on Tuesday, August 13th. Wells Fargo & Company upped their target price on shares of Chipotle Mexican Grill from $65.70 to $66.00 and gave the stock an “overweight” rating in a research note on Thursday, April 25th. Citigroup dropped their price target on shares of Chipotle Mexican Grill from $71.00 to $69.00 and set a “buy” rating on the stock in a research note on Thursday, July 25th. Finally, TD Cowen dropped their price target on shares of Chipotle Mexican Grill from $72.00 to $65.00 and set a “buy” rating on the stock in a research note on Thursday, July 25th. Ten research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $62.36.

Insider Buying and Selling at Chipotle Mexican Grill

In other news, insider Curtis E. Garner sold 17,394 shares of Chipotle Mexican Grill stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $54.68, for a total value of $951,103.92. Following the transaction, the insider now directly owns 358,300 shares of the company’s stock, valued at approximately $19,591,844. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.02% of the stock is owned by company insiders.

Chipotle Mexican Grill Stock Performance

Chipotle Mexican Grill stock traded up $1.79 during midday trading on Wednesday, reaching $53.73. 14,491,806 shares of the company were exchanged, compared to its average volume of 15,202,516. The company has a market capitalization of $73.79 billion, a price-to-earnings ratio of 57.07, a P/E/G ratio of 2.23 and a beta of 1.24. The firm’s 50-day simple moving average is $122.11 and its 200-day simple moving average is $80.76. Chipotle Mexican Grill, Inc. has a 1 year low of $35.37 and a 1 year high of $69.26.

Chipotle Mexican Grill (NYSE:CMG) last posted its quarterly earnings results on Wednesday, July 24th. The restaurant operator reported $0.34 EPS for the quarter, beating the consensus estimate of $0.32 by $0.02. The company had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $2.94 billion. Chipotle Mexican Grill had a return on equity of 44.01% and a net margin of 13.23%. The firm’s revenue was up 18.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $12.65 EPS. On average, analysts forecast that Chipotle Mexican Grill, Inc. will post 1.09 EPS for the current fiscal year.

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.