Prosperity Wealth Management Inc. Invests $306,000 in Chipotle Mexican Grill, Inc. (NYSE:CMG)

Prosperity Wealth Management Inc. purchased a new stake in Chipotle Mexican Grill, Inc. (NYSE:CMG) during the 1st quarter, Holdings Channel.com reports. The institutional investor purchased 6,100 shares of the restaurant operator’s stock, valued at approximately $306,000.

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

Insider Transactions at Chipotle Mexican Grill

In other news, insider Roger E. Theodoredis sold 113,875 shares of the stock in a transaction dated 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 completion of the sale, the insider now owns 109,815 shares of the company’s stock, 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 filing with the SEC, which is accessible through the SEC website. 0.81% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on CMG. UBS Group cut their target price on Chipotle Mexican Grill from $65.00 to $60.00 and set a “buy” rating for the company in a research report on Thursday, April 24th. Morgan Stanley dropped their price target on Chipotle Mexican Grill from $67.00 to $65.00 and set an “overweight” rating for the company in a research note on Thursday, April 24th. Robert W. Baird reduced their price objective on shares of Chipotle Mexican Grill from $62.00 to $56.00 and set an “outperform” rating on the stock in a research note on Thursday, April 24th. TD Securities reissued a “buy” rating and issued a $57.00 target price on shares of Chipotle Mexican Grill in a report on Wednesday. Finally, Piper Sandler cut their price target on shares of Chipotle Mexican Grill from $59.00 to $52.00 and set a “neutral” rating for the company in a report on Thursday, April 24th. Ten research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $60.79.

Chipotle Mexican Grill Trading Up 0.9%

NYSE:CMG opened at $51.83 on Thursday. The stock’s 50-day moving average is $50.54 and its 200-day moving average is $54.13. Chipotle Mexican Grill, Inc. has a 1-year low of $44.46 and a 1-year high of $68.91. The stock has a market cap of $69.83 billion, a P/E ratio of 45.86, a price-to-earnings-growth ratio of 2.55 and a beta of 1.06.

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

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.