Chipotle Mexican Grill, Inc. $CMG Stake Boosted by Provenance Wealth Advisors LLC

Provenance Wealth Advisors LLC grew its position in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG) by 142,422.2% during the third quarter, Holdings Channel.com reports. The fund owned 25,654 shares of the restaurant operator’s stock after purchasing an additional 25,636 shares during the quarter. Provenance Wealth Advisors LLC’s holdings in Chipotle Mexican Grill were worth $820,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. purchased a new stake in shares of Chipotle Mexican Grill in the second quarter valued at about $4,417,475,000. Bank of America Corp DE bought a new position in shares of Chipotle Mexican Grill during the second quarter valued at about $383,483,000. Legal & General Group Plc purchased a new position in Chipotle Mexican Grill during the second quarter worth about $265,887,000. Man Group plc purchased a new position in Chipotle Mexican Grill during the second quarter worth about $240,389,000. Finally, Bank of New York Mellon Corp purchased a new position in Chipotle Mexican Grill during the second quarter worth about $222,809,000. Institutional investors own 91.30% of the company’s stock.

Insider Activity

In other news, insider Matthew R. Bush sold 2,675 shares of the firm’s stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $35.75, for a total transaction of $95,631.25. Following the completion of the sale, the insider owned 21,415 shares in the company, valued at $765,586.25. This trade represents a 11.10% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.45% of the stock is currently owned by insiders.

Chipotle Mexican Grill Stock Performance

Shares of NYSE:CMG opened at $35.17 on Thursday. The company has a market capitalization of $44.49 billion, a P/E ratio of 32.87, a price-to-earnings-growth ratio of 2.19 and a beta of 1.00. The company’s 50-day moving average is $32.84 and its 200 day moving average is $34.03. Chipotle Mexican Grill, Inc. has a fifty-two week low of $27.31 and a fifty-two week high of $41.42.

Chipotle Mexican Grill (NYSE:CMG) last announced its quarterly earnings data on Wednesday, October 28th. The restaurant operator reported $0.27 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.02). The company had revenue of $3.29 billion during the quarter, compared to the consensus estimate of $3.29 billion. Chipotle Mexican Grill had a return on equity of 57.05% and a net margin of 10.83%. The business’s revenue was up 9.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.29 EPS. As a group, research analysts predict that Chipotle Mexican Grill, Inc. will post 1.10 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Mizuho reduced their price objective on shares of Chipotle Mexican Grill from $43.00 to $37.00 and set an “outperform” rating for the company in a research report on Friday, October 23rd. JPMorgan Chase & Co. dropped their target price on shares of Chipotle Mexican Grill from $37.00 to $36.00 and set an “overweight” rating on the stock in a research report on Thursday, October 29th. Argus lifted their target price on shares of Chipotle Mexican Grill from $40.00 to $45.00 and gave the stock a “buy” rating in a research report on Tuesday, August 4th. UBS Group restated a “buy” rating on shares of Chipotle Mexican Grill in a research note on Friday, October 9th. Finally, Telsey Advisory Group set a $40.00 target price on Chipotle Mexican Grill in a report on Thursday, October 29th. Twenty-seven analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat, Chipotle Mexican Grill presently has an average rating of “Moderate Buy” and a consensus target price of $42.36.

Chipotle Mexican Grill Profile

Chipotle Mexican Grill, Inc (NYSE: CMG) operates a chain of fast-casual restaurants focused on Mexican-inspired food. Its menu includes burritos, burrito bowls, tacos, quesadillas and salads, with options such as chicken, steak, barbacoa, carnitas, sofritas and vegetables. The company emphasizes preparing food in its restaurants from ingredients it describes as responsibly sourced, including meats raised with attention to animal welfare and produce from selected suppliers.

Founded by Steve Ells in 1993, Chipotle opened its first restaurant in Denver, Colorado.