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

Elk River Wealth Management LLC decreased its position in Chipotle Mexican Grill, Inc. (NYSE:CMG) by 69.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 63,771 shares of the restaurant operator’s stock after selling 141,674 shares during the quarter. Elk River Wealth Management LLC’s holdings in Chipotle Mexican Grill were worth $2,041,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Chipotle Mexican Grill by 14.8% in the 4th quarter. Vanguard Group Inc. now owns 144,588,220 shares of the restaurant operator’s stock valued at $5,349,764,000 after acquiring an additional 18,660,882 shares during the last quarter. Capital World Investors lifted its stake in shares of Chipotle Mexican Grill by 15.8% during the 4th quarter. Capital World Investors now owns 101,688,010 shares of the restaurant operator’s stock worth $3,762,457,000 after purchasing an additional 13,843,222 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of Chipotle Mexican Grill by 18.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 58,447,867 shares of the restaurant operator’s stock worth $2,162,572,000 after purchasing an additional 9,237,720 shares during the last quarter. Capital International Investors boosted its holdings in shares of Chipotle Mexican Grill by 17.7% during the fourth quarter. Capital International Investors now owns 45,294,212 shares of the restaurant operator’s stock worth $1,675,895,000 after purchasing an additional 6,796,285 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Chipotle Mexican Grill in the fourth quarter valued at $711,837,000. 91.30% of the stock is currently owned by hedge funds and other institutional investors.

Chipotle Mexican Grill Stock Down 6.0%

CMG opened at $30.55 on Tuesday. Chipotle Mexican Grill, Inc. has a 52-week low of $28.03 and a 52-week high of $58.42. The company has a 50 day moving average of $32.58 and a two-hundred day moving average of $35.14. The company has a market cap of $39.19 billion, a P/E ratio of 28.03, a P/E/G ratio of 2.09 and a beta of 0.99.

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

Wall Street Analysts Forecast Growth

CMG has been the topic of several recent analyst reports. Barclays reduced their target price on Chipotle Mexican Grill from $40.00 to $38.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 30th. Zacks Research upgraded Chipotle Mexican Grill from a “strong sell” rating to a “hold” rating in a report on Friday, April 17th. Stifel Nicolaus reaffirmed a “buy” rating on shares of Chipotle Mexican Grill in a research note on Monday, March 9th. JPMorgan Chase & Co. raised shares of Chipotle Mexican Grill from a “neutral” rating to an “overweight” rating and decreased their target price for the stock from $38.00 to $35.00 in a research report on Friday, June 5th. Finally, Raymond James Financial lowered their target price on shares of Chipotle Mexican Grill from $43.00 to $41.00 and set an “outperform” rating for the company in a report on Tuesday, April 21st. Twenty-three analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Chipotle Mexican Grill has a consensus rating of “Moderate Buy” and an average price target of $45.10.

Chipotle Mexican Grill Profile

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.