NewEdge Wealth LLC Takes $664,000 Position in Chipotle Mexican Grill, Inc. $CMG

NewEdge Wealth LLC acquired a new stake in Chipotle Mexican Grill, Inc. (NYSE:CMG) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 19,516 shares of the restaurant operator’s stock, valued at approximately $664,000.

Other hedge funds have also added to or reduced their stakes in the company. Revolve Wealth Partners LLC raised its position in shares of Chipotle Mexican Grill by 4.7% during the fourth 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. Bison Wealth LLC bought a new stake in Chipotle Mexican Grill during the 4th quarter worth approximately $224,000. Empowered Funds LLC increased its stake in Chipotle Mexican Grill by 5.5% during the 1st quarter. Empowered Funds LLC now owns 26,460 shares of the restaurant operator’s stock worth $1,329,000 after purchasing an additional 1,368 shares in the last quarter. Osterweis Capital Management Inc. raised its holdings in Chipotle Mexican Grill by 7,176.0% during the 2nd quarter. Osterweis Capital Management Inc. now owns 1,819 shares of the restaurant operator’s stock worth $102,000 after buying an additional 1,794 shares during the period. Finally, Ieq Capital LLC lifted its stake in Chipotle Mexican Grill by 88.8% in the second quarter. Ieq Capital LLC now owns 274,375 shares of the restaurant operator’s stock valued at $15,406,000 after buying an additional 129,066 shares in the last quarter. Institutional investors and hedge funds own 91.30% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Stephens reiterated a “positive” rating and issued a $40.00 price target (up from $36.00) on shares of Chipotle Mexican Grill in a report on Thursday, July 30th. BNP Paribas Exane raised their price objective on shares of Chipotle Mexican Grill from $37.00 to $39.00 and gave the stock a “neutral” rating in a report on Thursday, April 30th. Piper Sandler cut their price objective on shares of Chipotle Mexican Grill from $42.00 to $39.00 and set an “overweight” rating on the stock in a research report on Thursday, July 30th. Mizuho boosted their price objective on shares of Chipotle Mexican Grill from $40.00 to $41.00 and gave the company an “outperform” rating in a research report on Monday, July 13th. Finally, Raymond James Financial reaffirmed an “outperform” rating and issued a $42.50 target price on shares of Chipotle Mexican Grill in a research note on Thursday, July 30th. Twenty-four equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat.com, Chipotle Mexican Grill has an average rating of “Moderate Buy” and a consensus price target of $44.16.

Chipotle Mexican Grill Stock Performance

NYSE CMG opened at $36.84 on Friday. Chipotle Mexican Grill, Inc. has a 52 week low of $28.03 and a 52 week high of $43.72. The stock’s 50 day moving average price is $33.80 and its two-hundred day moving average price is $33.99. The stock has a market capitalization of $46.62 billion, a price-to-earnings ratio of 33.80, a PEG ratio of 2.35 and a beta of 0.94.

Chipotle Mexican Grill (NYSE:CMG) last issued its quarterly earnings results on Wednesday, July 29th. The restaurant operator reported $0.33 earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $3.35 billion during the quarter, compared to analysts’ expectations of $3.33 billion. During the same period last year, the business earned $0.33 EPS. The business’s quarterly revenue was up 9.3% on a year-over-year basis. On average, equities research analysts forecast that Chipotle Mexican Grill, Inc. will post 1.14 EPS 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.