Elevation Point Wealth Partners LLC Takes $1.02 Million Position in Chipotle Mexican Grill, Inc. $CMG

Elevation Point Wealth Partners LLC purchased a new position in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 31,942 shares of the restaurant operator’s stock, valued at approximately $1,022,000.

Several other institutional investors have also recently made changes to their positions in the company. Seamount Financial Group Inc. increased its stake in Chipotle Mexican Grill by 6.3% during the first quarter. Seamount Financial Group Inc. now owns 9,400 shares of the restaurant operator’s stock worth $301,000 after acquiring an additional 559 shares during the last quarter. Heritage Investors Management Corp lifted its stake in shares of Chipotle Mexican Grill by 1.8% in the 1st quarter. Heritage Investors Management Corp now owns 538,495 shares of the restaurant operator’s stock valued at $17,237,000 after purchasing an additional 9,410 shares during the last quarter. Root Financial Partners LLC grew its holdings in shares of Chipotle Mexican Grill by 23.5% during the 1st quarter. Root Financial Partners LLC now owns 3,273 shares of the restaurant operator’s stock worth $105,000 after purchasing an additional 622 shares during the period. Whelan Financial grew its holdings in shares of Chipotle Mexican Grill by 10.6% during the 1st quarter. Whelan Financial now owns 19,413 shares of the restaurant operator’s stock worth $621,000 after purchasing an additional 1,853 shares during the period. Finally, USS Investment Management Ltd increased its position in shares of Chipotle Mexican Grill by 2.8% during the 1st quarter. USS Investment Management Ltd now owns 232,285 shares of the restaurant operator’s stock worth $7,434,000 after purchasing an additional 6,434 shares during the last quarter. Hedge funds and other institutional investors own 91.30% of the company’s stock.

Chipotle Mexican Grill Trading Down 4.0%

Shares of NYSE CMG opened at $33.99 on Tuesday. The stock has a market cap of $43.60 billion, a P/E ratio of 31.18, a PEG ratio of 2.29 and a beta of 0.97. The business’s fifty day simple moving average is $32.28 and its 200-day simple moving average is $35.07. Chipotle Mexican Grill, Inc. has a 12-month low of $28.03 and a 12-month high of $57.04.

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 analysts’ consensus estimates of $0.24. The company had revenue of $3.09 billion for the quarter, compared to analyst estimates of $3.07 billion. Chipotle Mexican Grill had a return on equity of 49.64% and a net margin of 11.96%.Chipotle Mexican Grill’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.29 EPS. On average, equities analysts forecast that Chipotle Mexican Grill, Inc. will post 1.13 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

CMG has been the subject of several research analyst reports. Barclays lowered their target price on shares of Chipotle Mexican Grill from $40.00 to $38.00 and set an “equal weight” rating for the company in a research note on Thursday, April 30th. BNP Paribas Exane increased their price objective on shares of Chipotle Mexican Grill from $37.00 to $39.00 and gave the stock a “neutral” rating in a research report on Thursday, April 30th. BTIG Research reiterated a “buy” rating and issued a $45.00 target price on shares of Chipotle Mexican Grill in a report on Thursday, April 30th. Stifel Nicolaus reissued a “buy” rating on shares of Chipotle Mexican Grill in a research report on Monday, March 9th. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $45.00 target price on shares of Chipotle Mexican Grill in a research report on Thursday, April 30th. Twenty-three investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $45.10.

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.