35,506 Shares in Chipotle Mexican Grill, Inc. $CMG Bought by Elevation Point Wealth Partners LLC

Elevation Point Wealth Partners LLC acquired a new stake in Chipotle Mexican Grill, Inc. (NYSE:CMG) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 35,506 shares of the restaurant operator’s stock, valued at approximately $1,207,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wealth Watch Advisors INC bought a new position in Chipotle Mexican Grill in the 3rd quarter worth approximately $25,000. MV Capital Management Inc. purchased a new position in shares of Chipotle Mexican Grill in the fourth quarter worth $26,000. Meeder Asset Management Inc. bought a new position in shares of Chipotle Mexican Grill during the second quarter worth $27,000. Osbon Capital Management LLC purchased a new position in Chipotle Mexican Grill during the fourth quarter valued at $28,000. Finally, Merkkuri Wealth Advisors LLC bought a new stake in Chipotle Mexican Grill in the 1st quarter valued at $28,000. Institutional investors own 91.30% of the company’s stock.

Chipotle Mexican Grill Stock Performance

NYSE CMG opened at $36.84 on Monday. The business’s 50 day moving average price is $33.80 and its 200-day moving average price is $33.96. Chipotle Mexican Grill, Inc. has a fifty-two week low of $28.03 and a fifty-two week high of $43.72. The company has a market cap of $46.62 billion, a P/E ratio of 33.80, a P/E/G ratio of 2.35 and a beta of 0.94.

Chipotle Mexican Grill (NYSE:CMG) last issued its quarterly earnings results on Wednesday, July 29th. The restaurant operator reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.01. The company had revenue of $3.35 billion during the quarter, compared to the consensus estimate of $3.33 billion. Chipotle Mexican Grill had a return on equity of 54.65% and a net margin of 11.43%.Chipotle Mexican Grill’s revenue was up 9.3% on a year-over-year basis. During the same period last year, the company earned $0.33 earnings per share. As a group, equities analysts predict that Chipotle Mexican Grill, Inc. will post 1.14 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have commented on CMG. Evercore reissued an “outperform” rating and set a $47.00 price objective on shares of Chipotle Mexican Grill in a report on Thursday, July 30th. Mizuho increased their price target on Chipotle Mexican Grill from $40.00 to $41.00 and gave the company an “outperform” rating in a research note on Monday, July 13th. Weiss Ratings raised Chipotle Mexican Grill from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, August 7th. Stephens reaffirmed a “positive” rating and set a $40.00 price objective (up from $36.00) on shares of Chipotle Mexican Grill in a report on Thursday, July 30th. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $45.00 target price on shares of Chipotle Mexican Grill in a report on Thursday, April 30th. Twenty-four analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, Chipotle Mexican Grill currently has a consensus rating of “Moderate Buy” and an average price target of $44.16.

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.