Western Wealth Management LLC Grows Stock Position in Chipotle Mexican Grill, Inc. $CMG

Western Wealth Management LLC boosted its holdings in Chipotle Mexican Grill, Inc. (NYSE:CMG) by 208.9% during the first quarter, HoldingsChannel reports. The fund owned 22,629 shares of the restaurant operator’s stock after buying an additional 15,304 shares during the period. Western Wealth Management LLC’s holdings in Chipotle Mexican Grill were worth $724,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. Orographic Financial Advisors LLC purchased a new stake in Chipotle Mexican Grill in the first quarter valued at $332,000. Bank of America Corp DE lifted its stake in shares of Chipotle Mexican Grill by 86.1% in the 1st quarter. Bank of America Corp DE now owns 11,973,752 shares of the restaurant operator’s stock valued at $383,280,000 after purchasing an additional 5,541,385 shares during the last quarter. Edgestream Partners L.P. grew its holdings in shares of Chipotle Mexican Grill by 18.0% during the 1st quarter. Edgestream Partners L.P. now owns 253,875 shares of the restaurant operator’s stock worth $8,127,000 after purchasing an additional 38,657 shares during the period. Bull Harbor Capital LLC acquired a new stake in shares of Chipotle Mexican Grill during the 1st quarter worth about $845,000. Finally, Arete Wealth Advisors LLC acquired a new stake in shares of Chipotle Mexican Grill during the 1st quarter worth about $364,000. 91.30% of the stock is currently owned by hedge funds and other institutional investors.

Chipotle Mexican Grill Stock Performance

NYSE CMG opened at $37.41 on Tuesday. The firm has a 50 day simple moving average of $32.94 and a 200-day simple moving average of $34.56. Chipotle Mexican Grill, Inc. has a one year low of $28.03 and a one year high of $44.27. The firm has a market cap of $47.99 billion, a price-to-earnings ratio of 34.32, a PEG ratio of 2.39 and a beta of 0.94.

Chipotle Mexican Grill (NYSE:CMG) last announced its quarterly earnings data on Wednesday, July 29th. The restaurant operator reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.01. Chipotle Mexican Grill had a net margin of 11.43% and a return on equity of 54.65%. The firm had revenue of $3.35 billion during the quarter, compared to analysts’ expectations of $3.33 billion. During the same quarter in the previous year, the business posted $0.33 earnings per share. The business’s quarterly revenue was up 9.3% compared to the same quarter last year. Equities analysts predict that Chipotle Mexican Grill, Inc. will post 1.14 EPS for the current fiscal year.

Analysts Set New Price Targets

CMG has been the topic of several research analyst reports. BTIG Research restated a “buy” rating and issued a $45.00 price objective on shares of Chipotle Mexican Grill in a report on Thursday, July 30th. Piper Sandler lowered their target price on shares of Chipotle Mexican Grill from $42.00 to $39.00 and set an “overweight” rating for the company in a research note on Thursday, July 30th. Sanford C. Bernstein reiterated an “outperform” rating on shares of Chipotle Mexican Grill in a research report on Friday. Zacks Research raised shares of Chipotle Mexican Grill from a “strong sell” rating to a “hold” rating in a research note on Friday, April 17th. Finally, Weiss Ratings lowered shares of Chipotle Mexican Grill from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, July 24th. Twenty-four research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $43.98.

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.