Mechanics Financial Corp Makes New Investment in Chipotle Mexican Grill, Inc. (NYSE:CMG)

Mechanics Financial Corp acquired a new position in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG) in the first quarter, Holdings Channel.com reports. The institutional investor acquired 750 shares of the restaurant operator’s stock, valued at approximately $38,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Cloud Capital Management LLC bought a new stake in Chipotle Mexican Grill during the 1st quarter worth approximately $25,000. HighMark Wealth Management LLC increased its holdings in Chipotle Mexican Grill by 173.4% during the 1st quarter. HighMark Wealth Management LLC now owns 585 shares of the restaurant operator’s stock worth $29,000 after purchasing an additional 371 shares in the last quarter. North Capital Inc. bought a new stake in Chipotle Mexican Grill during the 1st quarter worth approximately $30,000. ORG Wealth Partners LLC bought a new stake in Chipotle Mexican Grill during the 1st quarter worth approximately $31,000. Finally, Murphy & Mullick Capital Management Corp bought a new stake in Chipotle Mexican Grill during the 4th quarter worth approximately $38,000. 91.31% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently issued reports on CMG. KeyCorp upped their target price on Chipotle Mexican Grill from $58.00 to $60.00 and gave the company an “overweight” rating in a report on Tuesday. Loop Capital reduced their target price on Chipotle Mexican Grill from $65.00 to $63.00 and set a “buy” rating for the company in a report on Thursday, April 24th. Piper Sandler reduced their target price on Chipotle Mexican Grill from $59.00 to $52.00 and set a “neutral” rating for the company in a report on Thursday, April 24th. Robert W. Baird upped their target price on Chipotle Mexican Grill from $58.00 to $62.00 and gave the company an “outperform” rating in a report on Wednesday, July 2nd. Finally, Barclays upped their target price on Chipotle Mexican Grill from $52.00 to $54.00 and gave the company an “equal weight” rating in a report on Thursday, June 26th. 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 company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $61.28.

Chipotle Mexican Grill Stock Down 1.5%

NYSE CMG opened at $53.99 on Wednesday. The stock’s 50-day simple moving average is $52.75 and its two-hundred day simple moving average is $53.03. Chipotle Mexican Grill, Inc. has a twelve month low of $44.46 and a twelve month high of $66.74. The company has a market capitalization of $72.75 billion, a price-to-earnings ratio of 47.78, a PEG ratio of 2.72 and a beta of 1.08.

Chipotle Mexican Grill (NYSE:CMG) last released its quarterly earnings results on Wednesday, April 23rd. The restaurant operator reported $0.29 earnings per share 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 business had revenue of $2.88 billion for the quarter, compared to the consensus estimate of $2.98 billion. During the same quarter last year, the business posted $13.37 earnings per share. The company’s revenue for the quarter was up 6.4% on a year-over-year basis. On average, equities analysts expect that Chipotle Mexican Grill, Inc. will post 1.29 earnings per share for the current fiscal year.

Insider Activity at Chipotle Mexican Grill

In other news, insider Roger E. Theodoredis sold 113,875 shares of Chipotle Mexican Grill 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 transaction, the insider owned 109,815 shares in the company, valued at approximately $5,457,805.50. The trade was a 50.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate 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.