Wesbanco Bank Inc. Acquires 34,847 Shares of Chipotle Mexican Grill, Inc. $CMG

Wesbanco Bank Inc. grew its holdings in Chipotle Mexican Grill, Inc. (NYSE:CMG) by 17.1% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 238,866 shares of the restaurant operator’s stock after buying an additional 34,847 shares during the quarter. Wesbanco Bank Inc.’s holdings in Chipotle Mexican Grill were worth $7,646,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Financial Life Planners bought a new position in shares of Chipotle Mexican Grill during the third quarter valued at approximately $25,000. Wealth Watch Advisors INC bought a new stake in Chipotle Mexican Grill in the third quarter valued at $25,000. MV Capital Management Inc. purchased a new position in Chipotle Mexican Grill during the 4th quarter valued at $26,000. Osbon Capital Management LLC purchased a new position in Chipotle Mexican Grill during the 4th quarter valued at $28,000. Finally, Winthrop Capital Management LLC bought a new position in Chipotle Mexican Grill in the 3rd quarter worth $31,000. 91.30% of the stock is currently owned by institutional investors.

Chipotle Mexican Grill Stock Performance

CMG stock opened at $33.37 on Friday. The firm has a 50 day moving average price of $32.37 and a 200-day moving average price of $35.08. Chipotle Mexican Grill, Inc. has a 52-week low of $28.03 and a 52-week high of $58.42. The firm has a market capitalization of $42.80 billion, a price-to-earnings ratio of 30.61, a PEG ratio of 2.08 and a beta of 0.99.

Chipotle Mexican Grill (NYSE:CMG) last posted its quarterly earnings results on Wednesday, April 29th. The restaurant operator reported $0.24 earnings per share for the quarter, hitting the consensus estimate of $0.24. Chipotle Mexican Grill had a return on equity of 49.64% and a net margin of 11.96%.The company had revenue of $3.09 billion for the quarter, compared to the consensus estimate of $3.07 billion. During the same quarter in the prior year, the business posted $0.29 EPS. The firm’s quarterly revenue was up 7.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Chipotle Mexican Grill, Inc. will post 1.13 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. 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. Stephens boosted their price target on shares of Chipotle Mexican Grill from $38.00 to $39.00 and gave the company an “equal weight” rating in a research report on Thursday, April 30th. Royal Bank Of Canada reissued an “outperform” rating and issued a $45.00 price target on shares of Chipotle Mexican Grill in a research note on Thursday, April 30th. Piper Sandler lowered their price objective on shares of Chipotle Mexican Grill from $44.00 to $42.00 and set an “overweight” rating for the company in a report on Thursday, April 30th. Finally, Weiss Ratings raised Chipotle Mexican Grill from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday. Twenty-three analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $45.10.

About Chipotle Mexican Grill

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.