Chipotle Mexican Grill, Inc. $CMG Shares Purchased by Wesbanco Bank Inc.

Wesbanco Bank Inc. grew its stake in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG) by 155.9% in the fourth quarter, HoldingsChannel reports. The fund owned 204,019 shares of the restaurant operator’s stock after buying an additional 124,285 shares during the quarter. Wesbanco Bank Inc.’s holdings in Chipotle Mexican Grill were worth $7,549,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the stock. MGO One Seven LLC grew its holdings in Chipotle Mexican Grill by 87.9% in the fourth quarter. MGO One Seven LLC now owns 77,352 shares of the restaurant operator’s stock valued at $2,862,000 after purchasing an additional 36,183 shares during the period. Cassaday & Co Wealth Management LLC increased its position in Chipotle Mexican Grill by 15.3% during the 4th quarter. Cassaday & Co Wealth Management LLC now owns 17,013 shares of the restaurant operator’s stock worth $629,000 after purchasing an additional 2,259 shares in the last quarter. Crestwood Advisors Group LLC increased its position in Chipotle Mexican Grill by 24.7% during the 4th quarter. Crestwood Advisors Group LLC now owns 9,051 shares of the restaurant operator’s stock worth $335,000 after purchasing an additional 1,795 shares in the last quarter. Maple Capital Management Inc. increased its position in Chipotle Mexican Grill by 1.0% during the 4th quarter. Maple Capital Management Inc. now owns 369,148 shares of the restaurant operator’s stock worth $13,658,000 after purchasing an additional 3,532 shares in the last quarter. Finally, Allegiance Financial Group Advisory Services LLC acquired a new stake in Chipotle Mexican Grill during the 4th quarter worth approximately $273,000. 91.30% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on CMG. Wells Fargo & Company dropped their target price on shares of Chipotle Mexican Grill from $50.00 to $45.00 and set an “overweight” rating for the company in a research report on Wednesday, February 4th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $48.00 target price on shares of Chipotle Mexican Grill in a research report on Wednesday, February 4th. Morgan Stanley dropped their target price on shares of Chipotle Mexican Grill from $50.00 to $49.00 and set an “overweight” rating for the company in a research report on Wednesday, February 4th. Piper Sandler dropped their target price on shares of Chipotle Mexican Grill from $44.00 to $42.00 and set an “overweight” rating for the company in a research report on Thursday, April 30th. Finally, Guggenheim dropped their target price on shares of Chipotle Mexican Grill from $36.00 to $35.00 and set a “neutral” rating for the company in a research report on Friday, May 1st. Twenty-four equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $46.03.

Chipotle Mexican Grill Stock Down 2.5%

CMG opened at $32.43 on Friday. The firm has a market capitalization of $41.60 billion, a P/E ratio of 29.75, a P/E/G ratio of 2.14 and a beta of 1.03. The firm’s 50 day moving average is $34.13 and its 200-day moving average is $35.71. Chipotle Mexican Grill, Inc. has a 52-week low of $29.75 and a 52-week high of $58.42.

Chipotle Mexican Grill (NYSE:CMG) last posted its quarterly earnings data on Wednesday, April 29th. The restaurant operator reported $0.24 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.24. The company had revenue of $3.09 billion for the quarter, compared to analyst estimates of $3.07 billion. Chipotle Mexican Grill had a net margin of 11.96% and a return on equity of 49.64%. The business’s quarterly revenue was up 7.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.29 earnings per share. Equities analysts expect that Chipotle Mexican Grill, Inc. will post 1.13 earnings per share for the current fiscal year.

Chipotle Mexican Grill Company Profile

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.