Western Wealth Management LLC Raises Position in Chipotle Mexican Grill, Inc. $CMG

Western Wealth Management LLC raised its position in Chipotle Mexican Grill, Inc. (NYSE:CMG) by 208.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 22,629 shares of the restaurant operator’s stock after buying an additional 15,304 shares during the period. Western Wealth Management LLC’s holdings in Chipotle Mexican Grill were worth $724,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of CMG. Norges Bank purchased a new position in shares of Chipotle Mexican Grill in the fourth quarter valued at approximately $711,837,000. Vanguard Group Inc. boosted its stake in shares of Chipotle Mexican Grill by 14.8% in the fourth quarter. Vanguard Group Inc. now owns 144,588,220 shares of the restaurant operator’s stock worth $5,349,764,000 after acquiring an additional 18,660,882 shares during the last quarter. Capital World Investors increased its position in shares of Chipotle Mexican Grill by 15.8% during the fourth quarter. Capital World Investors now owns 101,688,010 shares of the restaurant operator’s stock worth $3,762,457,000 after purchasing an additional 13,843,222 shares in the last quarter. Clearbridge Investments LLC increased its position in shares of Chipotle Mexican Grill by 206.4% during the fourth quarter. Clearbridge Investments LLC now owns 14,062,158 shares of the restaurant operator’s stock worth $520,300,000 after purchasing an additional 9,473,120 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its position in shares of Chipotle Mexican Grill by 18.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 58,447,867 shares of the restaurant operator’s stock worth $2,162,572,000 after purchasing an additional 9,237,720 shares in the last quarter. 91.30% of the stock is currently owned by institutional investors and hedge funds.

Chipotle Mexican Grill Stock Performance

NYSE:CMG opened at $37.41 on Tuesday. Chipotle Mexican Grill, Inc. has a one year low of $28.03 and a one year high of $44.27. The stock has a market cap of $47.99 billion, a PE ratio of 34.32, a P/E/G ratio of 2.39 and a beta of 0.94. The stock has a 50 day moving average price of $32.94 and a 200 day moving average price of $34.56.

Chipotle Mexican Grill (NYSE:CMG) last released its quarterly earnings data on Wednesday, July 29th. The restaurant operator reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.01. The company had revenue of $3.35 billion for the quarter, compared to analyst estimates of $3.33 billion. Chipotle Mexican Grill had a return on equity of 54.65% and a net margin of 11.43%.The firm’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.33 earnings per share. As a group, analysts predict that Chipotle Mexican Grill, Inc. will post 1.14 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

CMG has been the topic of a number of research reports. JPMorgan Chase & Co. upgraded Chipotle Mexican Grill from a “neutral” rating to an “overweight” rating and decreased their price objective for the company from $38.00 to $35.00 in a report on Friday, June 5th. DA Davidson upped their target price on shares of Chipotle Mexican Grill from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Sanford C. Bernstein reiterated an “outperform” rating on shares of Chipotle Mexican Grill in a research report on Friday. Citigroup reduced their target price on shares of Chipotle Mexican Grill from $46.00 to $45.00 and set a “buy” rating for the company in a research report on Monday, July 13th. Finally, Barclays decreased their price target on shares of Chipotle Mexican Grill from $40.00 to $38.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 30th. Twenty-four equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $43.98.

Chipotle Mexican Grill 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.