Elk River Wealth Management LLC Purchases 65,685 Shares of Chipotle Mexican Grill, Inc. (NYSE:CMG)

Elk River Wealth Management LLC boosted its position in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG) by 1,903.9% during the first quarter, HoldingsChannel reports. The institutional investor owned 69,135 shares of the restaurant operator’s stock after purchasing an additional 65,685 shares during the period. Elk River Wealth Management LLC’s holdings in Chipotle Mexican Grill were worth $3,471,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Chipotle Mexican Grill in the 4th quarter valued at $1,093,345,000. Alphinity Investment Management Pty Ltd bought a new position in Chipotle Mexican Grill in the fourth quarter valued at about $692,701,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its stake in Chipotle Mexican Grill by 4,138,574.1% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 8,318,735 shares of the restaurant operator’s stock worth $501,620,000 after acquiring an additional 8,318,534 shares in the last quarter. Alliancebernstein L.P. lifted its holdings in shares of Chipotle Mexican Grill by 29.5% in the fourth quarter. Alliancebernstein L.P. now owns 30,100,520 shares of the restaurant operator’s stock worth $1,815,061,000 after acquiring an additional 6,853,470 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of Chipotle Mexican Grill in the fourth quarter worth about $315,220,000. 91.31% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, insider Roger E. Theodoredis sold 113,875 shares of the company’s stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $49.70, for a total transaction of $5,659,587.50. Following the transaction, the insider now owns 109,815 shares in the company, valued at approximately $5,457,805.50. This represents a 50.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.81% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Argus lowered shares of Chipotle Mexican Grill from a “buy” rating to a “hold” rating in a report on Monday, April 28th. Wells Fargo & Company decreased their target price on shares of Chipotle Mexican Grill from $70.00 to $60.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 22nd. Robert W. Baird lowered their price target on shares of Chipotle Mexican Grill from $62.00 to $56.00 and set an “outperform” rating for the company in a report on Thursday, April 24th. Guggenheim set a $47.00 price target on Chipotle Mexican Grill in a research note on Friday, April 25th. Finally, Truist Financial reduced their price objective on Chipotle Mexican Grill from $74.00 to $61.00 and set a “buy” rating on the stock in a research report on Tuesday, April 22nd. Nine research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $61.60.

Chipotle Mexican Grill Price Performance

NYSE CMG opened at $52.57 on Friday. Chipotle Mexican Grill, Inc. has a one year low of $44.46 and a one year high of $69.26. The business has a 50 day simple moving average of $50.12 and a 200 day simple moving average of $54.68. The stock has a market capitalization of $70.83 billion, a P/E ratio of 47.35, a P/E/G ratio of 2.04 and a beta of 1.06.

Chipotle Mexican Grill (NYSE:CMG) last released its quarterly earnings data on Wednesday, April 23rd. The restaurant operator reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.01. Chipotle Mexican Grill had a net margin of 13.56% and a return on equity of 42.92%. The company had revenue of $2.88 billion during the quarter, compared to analyst estimates of $2.98 billion. During the same quarter in the previous year, the business posted $13.37 EPS. Chipotle Mexican Grill’s revenue for the quarter was up 6.4% compared to the same quarter last year. Equities analysts expect that Chipotle Mexican Grill, Inc. will post 1.29 earnings per share for the current year.

Chipotle Mexican Grill Profile

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.