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

Elk River Wealth Management LLC cut its position in Chipotle Mexican Grill, Inc. (NYSE:CMG) by 69.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm 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.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Rockefeller Capital Management L.P. increased its stake in Chipotle Mexican Grill by 6.3% during the 4th quarter. Rockefeller Capital Management L.P. now owns 194,313 shares of the restaurant operator’s stock worth $7,190,000 after buying an additional 11,489 shares during the period. Osbon Capital Management LLC purchased a new stake in Chipotle Mexican Grill during the 4th quarter worth approximately $28,000. Meadowbrook Advisors Group LLC purchased a new position in shares of Chipotle Mexican Grill during the 4th quarter valued at approximately $349,000. Rehmann Capital Advisory Group increased its stake in shares of Chipotle Mexican Grill by 23.7% in the fourth quarter. Rehmann Capital Advisory Group now owns 6,418 shares of the restaurant operator’s stock worth $238,000 after buying an additional 1,228 shares during the last quarter. Finally, Tulsa Wealth Advisors INC bought a new stake in shares of Chipotle Mexican Grill in the fourth quarter worth $453,000. Hedge funds and other institutional investors own 91.30% of the company’s stock.

Chipotle Mexican Grill Stock Down 6.0%

Shares of CMG stock 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 market cap of $39.19 billion, a P/E ratio of 28.03, a PEG ratio of 2.09 and a beta of 0.99. The business has a 50 day moving average of $32.58 and a two-hundred day moving average of $35.14.

Chipotle Mexican Grill (NYSE:CMG) last issued its earnings results on Wednesday, April 29th. The restaurant operator reported $0.24 earnings per share for the quarter, hitting the consensus estimate of $0.24. The firm 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%.The firm’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same period last year, the company earned $0.29 earnings per share. Analysts expect that Chipotle Mexican Grill, Inc. will post 1.13 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have commented on CMG shares. DA Davidson assumed coverage on shares of Chipotle Mexican Grill in a research note on Friday, March 6th. They set a “buy” rating and a $51.00 price objective on the stock. 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. Barclays reduced their price target on shares of 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. Stephens lifted their price target on Chipotle Mexican Grill from $38.00 to $39.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 30th. Finally, Morgan Stanley set a $37.00 price objective on Chipotle Mexican Grill and gave the company an “equal weight” rating in a research note on Wednesday, June 3rd. Twenty-three equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus 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.