Global Retirement Partners LLC Purchases Shares of 17,050 Chipotle Mexican Grill, Inc. $CMG

Global Retirement Partners LLC acquired a new position in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG) in the 2nd quarter, Holdings Channel reports. The institutional investor acquired 17,050 shares of the restaurant operator’s stock, valued at approximately $580,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CMG. Wealth Watch Advisors INC bought a new stake in shares of Chipotle Mexican Grill in the 3rd quarter worth about $25,000. MV Capital Management Inc. bought a new position in Chipotle Mexican Grill during the 4th quarter valued at about $26,000. Osbon Capital Management LLC acquired a new position in Chipotle Mexican Grill in the fourth quarter valued at about $28,000. Merkkuri Wealth Advisors LLC acquired a new position in Chipotle Mexican Grill in the first quarter valued at about $28,000. Finally, Kelleher Financial Advisors bought a new stake in Chipotle Mexican Grill during the second quarter worth about $28,000. 91.30% of the stock is owned by institutional investors.

Chipotle Mexican Grill Stock Down 1.2%

Chipotle Mexican Grill stock opened at $33.36 on Wednesday. The business’s 50-day simple moving average is $33.55 and its 200 day simple moving average is $34.03. The stock has a market cap of $42.22 billion, a price-to-earnings ratio of 30.61, a P/E/G ratio of 2.13 and a beta of 0.94. Chipotle Mexican Grill, Inc. has a 12-month low of $28.03 and a 12-month high of $43.99.

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

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. UBS Group reaffirmed a “buy” rating on shares of Chipotle Mexican Grill in a report on Friday, July 31st. DA Davidson lifted their price objective on Chipotle Mexican Grill from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. Sanford C. Bernstein reissued an “outperform” rating on shares of Chipotle Mexican Grill in a research note on Friday, July 31st. Argus increased their target price on Chipotle Mexican Grill from $40.00 to $45.00 and gave the stock a “buy” rating in a report on Tuesday, August 4th. Finally, JPMorgan Chase & Co. raised Chipotle Mexican Grill from a “neutral” rating to an “overweight” rating and cut their price target for the company from $38.00 to $35.00 in a report on Friday, June 5th. Twenty-four investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $44.16.

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.