White Wing Wealth Management Cuts Stock Position in Chipotle Mexican Grill, Inc. (NYSE:CMG)

White Wing Wealth Management cut its holdings in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG) by 11.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,989 shares of the restaurant operator’s stock after selling 909 shares during the period. Chipotle Mexican Grill comprises about 0.3% of White Wing Wealth Management’s portfolio, making the stock its 17th biggest position. White Wing Wealth Management’s holdings in Chipotle Mexican Grill were worth $337,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Kingswood Wealth Advisors LLC grew its position in shares of Chipotle Mexican Grill by 104.5% during the first quarter. Kingswood Wealth Advisors LLC now owns 9,098 shares of the restaurant operator’s stock worth $466,000 after buying an additional 4,649 shares in the last quarter. Lion Street Advisors LLC purchased a new position in Chipotle Mexican Grill in the first quarter worth approximately $250,000. Bender Robert & Associates acquired a new position in Chipotle Mexican Grill during the 1st quarter worth approximately $7,277,000. Clarius Group LLC increased its position in shares of Chipotle Mexican Grill by 16.8% in the 1st quarter. Clarius Group LLC now owns 12,499 shares of the restaurant operator’s stock valued at $628,000 after purchasing an additional 1,799 shares during the last quarter. Finally, Prosperity Wealth Management Inc. acquired a new stake in Chipotle Mexican Grill in the first quarter valued at $306,000. 91.31% of the stock is currently owned by hedge funds and other institutional investors.

Chipotle Mexican Grill Trading Down 2.2%

Shares of CMG stock opened at $51.39 on Wednesday. Chipotle Mexican Grill, Inc. has a 12-month low of $44.46 and a 12-month high of $69.26. The company has a market cap of $69.24 billion, a price-to-earnings ratio of 45.48, a price-to-earnings-growth ratio of 2.61 and a beta of 1.06. The stock has a 50 day simple moving average of $50.52 and a 200-day simple moving average of $54.14.

Chipotle Mexican Grill (NYSE:CMG) last released its earnings results on Wednesday, April 23rd. The restaurant operator reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.01. Chipotle Mexican Grill had a return on equity of 43.29% and a net margin of 13.59%. The company had revenue of $2.88 billion during the quarter, compared to the consensus estimate of $2.98 billion. During the same quarter last year, the company earned $13.37 earnings per share. Chipotle Mexican Grill’s quarterly revenue was up 6.4% compared to the same quarter last year. On average, equities analysts forecast that Chipotle Mexican Grill, Inc. will post 1.29 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on CMG shares. JPMorgan Chase & Co. lowered their price target on Chipotle Mexican Grill from $58.00 to $54.00 and set a “neutral” rating for the company in a report on Thursday, May 29th. Redburn Atlantic initiated coverage on shares of Chipotle Mexican Grill in a research report on Tuesday, June 10th. They set a “neutral” rating and a $55.00 price objective for the company. Evercore ISI lowered their target price on shares of Chipotle Mexican Grill from $64.00 to $57.00 and set an “outperform” rating for the company in a report on Thursday, April 24th. TD Securities dropped their target price on shares of Chipotle Mexican Grill from $60.00 to $57.00 and set a “buy” rating on the stock in a research report on Thursday, April 24th. Finally, Stifel Nicolaus reduced their price target on shares of Chipotle Mexican Grill from $68.00 to $65.00 and set a “buy” rating for the company in a research report on Wednesday, March 19th. Ten research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $61.37.

Insider Activity

In related news, insider Roger E. Theodoredis sold 113,875 shares of the company’s stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $49.70, for a total value of $5,659,587.50. Following the sale, the insider now owns 109,815 shares in the company, valued at $5,457,805.50. This represents a 50.91% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 1.02% of the company’s stock.

About Chipotle Mexican Grill

Chipotle Mexican Grill, Inc, together with its subsidiaries, owns and operates Chipotle Mexican Grill restaurants. It sells food and beverages through offering burritos, burrito bowls, quesadillas, tacos, and salads. The company also provides delivery and related services its app and website. It has operations in the United States, Canada, France, Germany, and the United Kingdom.