Moran Wealth Management LLC Sells 253,042 Shares of Chipotle Mexican Grill, Inc. $CMG

Moran Wealth Management LLC reduced its stake in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG) by 53.8% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 217,172 shares of the restaurant operator’s stock after selling 253,042 shares during the quarter. Moran Wealth Management LLC’s holdings in Chipotle Mexican Grill were worth $6,952,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of CMG. Financial Life Planners bought a new stake in Chipotle Mexican Grill during the 3rd quarter valued at approximately $25,000. Wealth Watch Advisors INC purchased a new position in shares of Chipotle Mexican Grill in the 3rd quarter valued at approximately $25,000. MV Capital Management Inc. purchased a new position in shares of Chipotle Mexican Grill in the 4th quarter valued at approximately $26,000. Osbon Capital Management LLC bought a new stake in shares of Chipotle Mexican Grill during the fourth quarter valued at approximately $28,000. Finally, Merkkuri Wealth Advisors LLC bought a new stake in shares of Chipotle Mexican Grill during the first quarter valued at approximately $28,000. Institutional investors own 91.30% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on CMG. Royal Bank Of Canada reissued an “outperform” rating and set a $45.00 price objective on shares of Chipotle Mexican Grill in a research report on Thursday, April 30th. BTIG Research reaffirmed a “buy” rating and issued a $45.00 target price on shares of Chipotle Mexican Grill in a research report on Thursday, April 30th. Morgan Stanley set a $37.00 price target on shares of Chipotle Mexican Grill and gave the stock an “equal weight” rating in a research note on Wednesday, June 3rd. Mizuho raised shares of Chipotle Mexican Grill from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $37.00 to $40.00 in a research report on Friday, March 20th. Finally, Wall Street Zen raised shares of Chipotle Mexican Grill from a “sell” rating to a “hold” rating in a research note on Saturday, March 7th. Twenty-three investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $45.10.

Chipotle Mexican Grill Price Performance

Shares of NYSE:CMG opened at $35.37 on Friday. Chipotle Mexican Grill, Inc. has a 1-year low of $28.03 and a 1-year high of $57.25. The business has a fifty day moving average price of $32.28 and a 200-day moving average price of $35.08. The company has a market capitalization of $45.37 billion, a PE ratio of 32.45, a PEG ratio of 2.29 and a beta of 0.97.

Chipotle Mexican Grill (NYSE:CMG) last announced its quarterly earnings results on Wednesday, April 29th. The restaurant operator reported $0.24 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.24. The company had revenue of $3.09 billion for the quarter, compared to analysts’ expectations of $3.07 billion. Chipotle Mexican Grill had a net margin of 11.96% and a return on equity of 49.64%. Chipotle Mexican Grill’s revenue was up 7.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.29 EPS. On average, sell-side analysts anticipate 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.