Meridian Wealth Management LLC Sells 17,482 Shares of Chipotle Mexican Grill, Inc. $CMG

Meridian Wealth Management LLC lessened its stake in Chipotle Mexican Grill, Inc. (NYSE:CMG) by 72.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 6,669 shares of the restaurant operator’s stock after selling 17,482 shares during the quarter. Meridian Wealth Management LLC’s holdings in Chipotle Mexican Grill were worth $247,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. Revolve Wealth Partners LLC raised its holdings in shares of Chipotle Mexican Grill by 4.7% in the 4th quarter. Revolve Wealth Partners LLC now owns 4,804 shares of the restaurant operator’s stock worth $290,000 after purchasing an additional 214 shares during the period. Centurion Wealth Management LLC raised its holdings in shares of Chipotle Mexican Grill by 3.1% in the 4th quarter. Centurion Wealth Management LLC now owns 8,713 shares of the restaurant operator’s stock worth $322,000 after purchasing an additional 260 shares during the period. City State Bank raised its holdings in shares of Chipotle Mexican Grill by 13.4% in the 4th quarter. City State Bank now owns 2,330 shares of the restaurant operator’s stock worth $86,000 after purchasing an additional 275 shares during the period. Cromwell Holdings LLC raised its holdings in shares of Chipotle Mexican Grill by 7.4% in the 4th quarter. Cromwell Holdings LLC now owns 4,295 shares of the restaurant operator’s stock worth $159,000 after purchasing an additional 295 shares during the period. Finally, Capital Advisors Inc. OK raised its holdings in shares of Chipotle Mexican Grill by 4.0% in the 4th quarter. Capital Advisors Inc. OK now owns 7,830 shares of the restaurant operator’s stock worth $290,000 after purchasing an additional 300 shares during the period. Institutional investors own 91.30% of the company’s stock.

Analyst Upgrades and Downgrades

CMG has been the topic of a number of research reports. Wall Street Zen raised shares of Chipotle Mexican Grill from a “sell” rating to a “hold” rating in a report on Saturday, March 7th. Morgan Stanley lowered their price target on shares of Chipotle Mexican Grill from $50.00 to $49.00 and set an “overweight” rating on the stock in a report on Wednesday, February 4th. Zacks Research upgraded shares of Chipotle Mexican Grill from a “strong sell” rating to a “hold” rating in a research note on Friday, April 17th. KeyCorp reduced their price objective on shares of Chipotle Mexican Grill from $45.00 to $42.00 and set an “overweight” rating for the company in a research note on Wednesday, February 4th. Finally, BTIG Research reiterated a “buy” rating and issued a $45.00 price objective on shares of Chipotle Mexican Grill in a research note on Thursday, April 30th. Twenty-four investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $46.03.

Chipotle Mexican Grill Trading Up 1.6%

Chipotle Mexican Grill stock opened at $32.59 on Friday. Chipotle Mexican Grill, Inc. has a 1-year low of $29.75 and a 1-year high of $58.42. The firm has a market capitalization of $41.81 billion, a PE ratio of 29.90, a price-to-earnings-growth ratio of 2.07 and a beta of 1.03. The firm’s 50 day simple moving average is $33.54 and its 200 day simple moving average is $35.36.

Chipotle Mexican Grill (NYSE:CMG) last posted its earnings results on Wednesday, April 29th. The restaurant operator reported $0.24 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.24. The business had revenue of $3.09 billion for the quarter, compared to analysts’ expectations of $3.07 billion. Chipotle Mexican Grill had a net margin of 11.96% and a return on equity of 49.64%. The business’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.29 EPS. 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.