Western Wealth Management LLC Invests $510,000 in Chipotle Mexican Grill, Inc. $CMG

Western Wealth Management LLC bought a new stake in Chipotle Mexican Grill, Inc. (NYSE:CMG) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm bought 14,995 shares of the restaurant operator’s stock, valued at approximately $510,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in CMG. BlackRock Inc. bought a new position in Chipotle Mexican Grill in the second quarter valued at approximately $4,417,475,000. Norges Bank bought a new stake in Chipotle Mexican Grill during the fourth quarter worth $711,837,000. Vanguard Group Inc. lifted its stake in Chipotle Mexican Grill by 14.8% during the fourth quarter. Vanguard Group Inc. now owns 144,588,220 shares of the restaurant operator’s stock worth $5,349,764,000 after purchasing an additional 18,660,882 shares during the last quarter. Capital World Investors boosted its holdings in shares of Chipotle Mexican Grill by 15.8% in the 4th quarter. Capital World Investors now owns 101,688,010 shares of the restaurant operator’s stock valued at $3,762,457,000 after purchasing an additional 13,843,222 shares in the last quarter. Finally, Clearbridge Investments LLC boosted its holdings in shares of Chipotle Mexican Grill by 206.4% in the 4th quarter. Clearbridge Investments LLC now owns 14,062,158 shares of the restaurant operator’s stock valued at $520,300,000 after purchasing an additional 9,473,120 shares in the last quarter. 91.30% of the stock is currently owned by institutional investors and hedge funds.

Trending Headlines about Chipotle Mexican Grill

Here are the key news stories impacting Chipotle Mexican Grill this week:

• Positive Sentiment: Chipotle launched a new “Every Win Tastes Better” promotion with tennis player Taylor Fritz, offering BOGO entrées after his U.S. Open victories. The campaign follows record redemptions from the company’s back-to-school promotion and could support restaurant traffic, digital engagement and near-term sales. Chipotle Taylor Fritz promotion
• Positive Sentiment: Investors remain encouraged by Chipotle’s digital initiatives, menu innovation and unit-expansion plans, which could provide longer-term revenue growth and help explain the stock’s recent strength. Chipotle growth outlook
• Neutral Sentiment: CMG continued to rise despite a Baird downgrade because the firm’s Neutral rating still carries a $40 price target, while recent momentum and promotional activity appear to be outweighing the more cautious analyst view. Chipotle stock gains after downgrade
• Negative Sentiment: Baird lowered its rating to Neutral and cut its price target to $40 from $44, arguing that Chipotle may need to spend considerably more to generate slower sales growth. Rising labor, marketing and operating costs could pressure margins and limit valuation upside. Baird Chipotle downgrade
• Negative Sentiment: Insider Matthew R. Bush sold 2,675 shares worth approximately $95,631, reducing his direct stake by 11.1%. The transaction may modestly weigh on sentiment, although one insider sale does not necessarily signal deteriorating business conditions. SEC insider filing

Chipotle Mexican Grill Stock Performance

Shares of CMG opened at $37.50 on Wednesday. Chipotle Mexican Grill, Inc. has a 52 week low of $28.03 and a 52 week high of $43.13. The stock has a market capitalization of $47.45 billion, a price-to-earnings ratio of 34.40, a PEG ratio of 2.42 and a beta of 0.94. The stock has a fifty day moving average of $34.01 and a 200-day moving average of $33.94.

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 business had revenue of $3.35 billion for the quarter, compared to analyst estimates of $3.33 billion. During the same quarter in the previous year, the company posted $0.33 EPS. Chipotle Mexican Grill’s quarterly revenue was up 9.3% compared to the same quarter last year. As a group, equities analysts forecast that Chipotle Mexican Grill, Inc. will post 1.14 EPS for the current year.

Insider Activity at Chipotle Mexican Grill

In other news, insider Matthew R. Bush sold 2,675 shares of Chipotle Mexican Grill stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $35.75, for a total transaction of $95,631.25. Following the sale, the insider directly owned 21,415 shares of the company’s stock, valued at approximately $765,586.25. This trade represents a 11.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.45% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. UBS Group reissued a “buy” rating on shares of Chipotle Mexican Grill in a report on Friday, July 31st. Barclays reduced their price objective on 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. Argus lifted their target price on Chipotle Mexican Grill from $40.00 to $45.00 and gave the company a “buy” rating in a research report on Tuesday, August 4th. JPMorgan Chase & Co. raised Chipotle Mexican Grill from a “neutral” rating to an “overweight” rating and lowered their target price for the stock from $38.00 to $35.00 in a research note on Friday, June 5th. Finally, Raymond James Financial reissued an “outperform” rating and issued a $42.50 target price on shares of Chipotle Mexican Grill in a report on Thursday, July 30th. Twenty-three research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $43.84.

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.