Elevation Point Wealth Partners LLC Makes New Investment in Chipotle Mexican Grill, Inc. $CMG

Elevation Point Wealth Partners LLC bought a new stake in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 35,506 shares of the restaurant operator’s stock, valued at approximately $1,207,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Wealth Watch Advisors INC purchased a new stake in Chipotle Mexican Grill in the 3rd quarter valued at about $25,000. MV Capital Management Inc. bought a new stake in shares of Chipotle Mexican Grill during the fourth quarter valued at approximately $26,000. Osbon Capital Management LLC bought a new stake in shares of Chipotle Mexican Grill during the fourth quarter valued at approximately $28,000. Meeder Asset Management Inc. purchased a new stake in shares of Chipotle Mexican Grill in the second quarter valued at approximately $27,000. Finally, Kelleher Financial Advisors purchased a new stake in shares of Chipotle Mexican Grill in the second quarter valued at approximately $28,000. 91.30% of the stock is currently owned by hedge funds and other institutional investors.

Chipotle Mexican Grill Trading Down 0.2%

Shares of NYSE:CMG opened at $36.84 on Monday. The company has a market capitalization of $46.62 billion, a PE ratio of 33.80, a P/E/G ratio of 2.35 and a beta of 0.94. Chipotle Mexican Grill, Inc. has a 12-month low of $28.03 and a 12-month high of $43.72. The business’s fifty day simple moving average is $33.80 and its 200-day simple moving average is $33.96.

Chipotle Mexican Grill (NYSE:CMG) last issued 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. Chipotle Mexican Grill had a return on equity of 54.65% and a net margin of 11.43%.The firm had revenue of $3.35 billion during the quarter, compared to analysts’ expectations of $3.33 billion. During the same period in the prior year, the business posted $0.33 EPS. The firm’s quarterly revenue was up 9.3% on a year-over-year basis. Research analysts predict that Chipotle Mexican Grill, Inc. will post 1.14 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have commented on CMG shares. Weiss Ratings upgraded Chipotle Mexican Grill from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, August 7th. Royal Bank Of Canada reissued an “outperform” rating and set a $45.00 price target on shares of Chipotle Mexican Grill in a research report on Thursday, April 30th. Evercore restated an “outperform” rating and set a $47.00 price target on shares of Chipotle Mexican Grill in a research note on Thursday, July 30th. Argus lifted their price objective on Chipotle Mexican Grill from $40.00 to $45.00 and gave the company a “buy” rating in a report on Tuesday, August 4th. Finally, DA Davidson upped their price objective on shares of Chipotle Mexican Grill from $45.00 to $50.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Twenty-four research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat.com, Chipotle Mexican Grill currently has an average rating of “Moderate Buy” and an average 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.