Elk River Wealth Management LLC Has $3.47 Million Holdings in Chipotle Mexican Grill, Inc. (NYSE:CMG)

Elk River Wealth Management LLC increased its stake in Chipotle Mexican Grill, Inc. (NYSE:CMG) by 1,903.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund 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 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Ethos Financial Group LLC bought a new position in Chipotle Mexican Grill during the fourth quarter worth about $31,000. Murphy & Mullick Capital Management Corp bought a new stake in Chipotle Mexican Grill during the 4th quarter worth approximately $38,000. Mascagni Wealth Management Inc. acquired a new stake in Chipotle Mexican Grill during the 4th quarter worth approximately $45,000. Oakworth Capital Inc. bought a new position in Chipotle Mexican Grill in the fourth quarter valued at approximately $50,000. Finally, Sierra Ocean LLC bought a new position in Chipotle Mexican Grill in the fourth quarter valued at approximately $50,000. Institutional investors and hedge funds own 91.31% of the company’s stock.

Analysts Set New Price Targets

CMG has been the topic of several research reports. Piper Sandler cut their price objective on shares of Chipotle Mexican Grill from $59.00 to $52.00 and set a “neutral” rating on the stock in a research report on Thursday, April 24th. Stifel Nicolaus cut their price target on Chipotle Mexican Grill from $68.00 to $65.00 and set a “buy” rating on the stock in a report on Wednesday, March 19th. Guggenheim set a $47.00 price objective on Chipotle Mexican Grill in a report on Friday, April 25th. Morgan Stanley cut their target price on Chipotle Mexican Grill from $67.00 to $65.00 and set an “overweight” rating on the stock in a research note on Thursday, April 24th. Finally, Wells Fargo & Company reduced their price target on Chipotle Mexican Grill from $70.00 to $60.00 and set an “overweight” rating for the company in a research report on Tuesday, April 22nd. Nine equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $61.60.

Insiders Place Their Bets

In other news, insider Roger E. Theodoredis sold 113,875 shares of the firm’s stock in a transaction that occurred on 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 directly owns 109,815 shares of the company’s stock, valued at approximately $5,457,805.50. This trade 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 can be accessed through this hyperlink. Company insiders own 0.81% of the company’s stock.

Chipotle Mexican Grill Stock Down 0.1%

Chipotle Mexican Grill stock opened at $52.57 on Friday. The company’s 50-day moving average price is $50.12 and its two-hundred day moving average price is $54.68. The stock has a market cap 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, Inc. has a twelve month low of $44.46 and a twelve month high of $69.26.

Chipotle Mexican Grill (NYSE:CMG) last announced 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. The company had revenue of $2.88 billion for the quarter, compared to analyst estimates of $2.98 billion. Chipotle Mexican Grill had a return on equity of 42.92% and a net margin of 13.56%. The firm’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same quarter last year, the company earned $13.37 earnings per share. Equities analysts anticipate that Chipotle Mexican Grill, Inc. will post 1.29 earnings per share for the current fiscal 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.