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

Wesbanco Bank Inc. increased its holdings in Chipotle Mexican Grill, Inc. (NYSE:CMG) by 17.1% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 238,866 shares of the restaurant operator’s stock after buying an additional 34,847 shares during the period. Wesbanco Bank Inc.’s holdings in Chipotle Mexican Grill were worth $7,646,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Wealth Watch Advisors INC bought a new position in Chipotle Mexican Grill in the 3rd quarter worth about $25,000. Financial Life Planners bought a new stake in shares of Chipotle Mexican Grill during the 3rd quarter valued at about $25,000. MV Capital Management Inc. purchased a new position in shares of Chipotle Mexican Grill during the fourth quarter worth about $26,000. Osbon Capital Management LLC purchased a new position in shares of Chipotle Mexican Grill during the fourth quarter worth about $28,000. Finally, Winthrop Capital Management LLC bought a new position in shares of Chipotle Mexican Grill in the third quarter worth approximately $31,000. 91.30% of the stock is currently owned by hedge funds and other institutional investors.

Chipotle Mexican Grill Stock Up 3.4%

Shares of NYSE:CMG opened at $33.37 on Friday. The stock has a market cap of $42.80 billion, a PE ratio of 30.61, a PEG ratio of 2.08 and a beta of 0.99. The company’s fifty day moving average is $32.37 and its 200 day moving average is $35.08. Chipotle Mexican Grill, Inc. has a 52 week low of $28.03 and a 52 week high of $58.42.

Chipotle Mexican Grill (NYSE:CMG) last released its quarterly earnings data on Wednesday, April 29th. The restaurant operator reported $0.24 EPS 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 firm had revenue of $3.09 billion for the quarter, compared to the consensus estimate of $3.07 billion. During the same quarter in the previous year, the business earned $0.29 earnings per share. The company’s quarterly revenue was up 7.4% on a year-over-year basis. Sell-side analysts anticipate that Chipotle Mexican Grill, Inc. will post 1.13 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on CMG shares. DA Davidson initiated coverage on shares of Chipotle Mexican Grill in a research report on Friday, March 6th. They set a “buy” rating and a $51.00 price objective on the stock. Stephens upped their target price on shares of Chipotle Mexican Grill from $38.00 to $39.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 30th. Zacks Research raised Chipotle Mexican Grill from a “strong sell” rating to a “hold” rating in a research note on Friday, April 17th. Morgan Stanley set a $37.00 price target on Chipotle Mexican Grill and gave the stock an “equal weight” rating in a research note on Wednesday, June 3rd. Finally, Mizuho upgraded Chipotle Mexican Grill from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $37.00 to $40.00 in a report on Friday, March 20th. 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 MarketBeat, Chipotle Mexican Grill currently has an average rating of “Moderate Buy” and an average price target of $45.10.

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.