Chipotle Mexican Grill, Inc. $CMG Shares Acquired by Elk River Wealth Management LLC

Elk River Wealth Management LLC increased its position in Chipotle Mexican Grill, Inc. (NYSE:CMG) by 190.0% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 205,445 shares of the restaurant operator’s stock after purchasing an additional 134,605 shares during the period. Chipotle Mexican Grill accounts for about 1.0% of Elk River Wealth Management LLC’s investment portfolio, making the stock its 27th biggest holding. Elk River Wealth Management LLC’s holdings in Chipotle Mexican Grill were worth $7,601,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Wealth Watch Advisors INC acquired a new position in Chipotle Mexican Grill in the third quarter worth about $25,000. Financial Life Planners acquired a new position in Chipotle Mexican Grill in the third quarter valued at approximately $25,000. Murphy & Mullick Capital Management Corp boosted its stake in Chipotle Mexican Grill by 106.7% in the third quarter. Murphy & Mullick Capital Management Corp now owns 775 shares of the restaurant operator’s stock valued at $30,000 after acquiring an additional 400 shares during the period. Winthrop Capital Management LLC acquired a new position in Chipotle Mexican Grill in the third quarter valued at approximately $31,000. Finally, Ameriflex Group Inc. boosted its stake in Chipotle Mexican Grill by 109.4% in the third quarter. Ameriflex Group Inc. now owns 890 shares of the restaurant operator’s stock valued at $35,000 after acquiring an additional 465 shares during the period. 91.30% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CMG has been the subject of a number of research reports. Raymond James Financial decreased their target price on Chipotle Mexican Grill from $43.00 to $41.00 and set an “outperform” rating for the company in a research note on Tuesday, April 21st. Morgan Stanley decreased their target price on Chipotle Mexican Grill from $50.00 to $49.00 and set an “overweight” rating for the company in a research note on Wednesday, February 4th. Argus upgraded Chipotle Mexican Grill from a “hold” rating to a “buy” rating and set a $40.00 target price for the company in a research note on Tuesday, May 5th. Mizuho upgraded Chipotle Mexican Grill from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $37.00 to $40.00 in a research note on Friday, March 20th. Finally, DA Davidson initiated coverage on Chipotle Mexican Grill in a research note on Friday, March 6th. They issued a “buy” rating and a $51.00 target price for the company. Twenty-four equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. According to data from MarketBeat.com, Chipotle Mexican Grill presently has an average rating of “Moderate Buy” and an average target price of $46.03.

Chipotle Mexican Grill Stock Performance

NYSE CMG opened at $32.95 on Thursday. The stock has a market capitalization of $42.27 billion, a P/E ratio of 30.23, a P/E/G ratio of 2.13 and a beta of 1.03. Chipotle Mexican Grill, Inc. has a 1 year low of $29.75 and a 1 year high of $58.42. The business’s fifty day moving average is $33.38 and its two-hundred day moving average is $35.22.

Chipotle Mexican Grill (NYSE:CMG) last posted its quarterly earnings results on Wednesday, April 29th. The restaurant operator reported $0.24 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.24. The company had revenue of $3.09 billion for the quarter, compared to analysts’ expectations of $3.07 billion. Chipotle Mexican Grill had a return on equity of 49.64% and a net margin of 11.96%.The firm’s revenue was up 7.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.29 earnings per share. On average, research analysts forecast that Chipotle Mexican Grill, Inc. will post 1.13 earnings per share for the current year.

About Chipotle Mexican Grill

Chipotle Mexican Grill is a fast-casual restaurant company known for its Mexican-inspired menu of burritos, bowls, tacos and salads. Founded in 1993 by Steve Ells, the chain emphasizes fresh, customizable meals made from a limited menu of core ingredients and a focus on ingredient quality. Chipotle operates primarily company-owned restaurants and offers dine-in, takeout, catering and delivery through its own digital platforms and third-party partners.

The company is headquartered in Newport Beach, California, and traces its roots to Denver, Colorado.