Meridian Wealth Management LLC Purchases New Shares in Chipotle Mexican Grill, Inc. (NYSE:CMG)

Meridian Wealth Management LLC acquired a new position in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 14,910 shares of the restaurant operator’s stock, valued at approximately $859,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CMG. American Century Companies Inc. increased its holdings in shares of Chipotle Mexican Grill by 4,732.3% in the second quarter. American Century Companies Inc. now owns 20,177,309 shares of the restaurant operator’s stock valued at $1,264,109,000 after purchasing an additional 19,759,754 shares in the last quarter. Legal & General Group Plc boosted its position in Chipotle Mexican Grill by 5,209.5% in the 2nd quarter. Legal & General Group Plc now owns 10,935,669 shares of the restaurant operator’s stock valued at $685,128,000 after buying an additional 10,729,706 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in Chipotle Mexican Grill by 5,930.8% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 10,310,132 shares of the restaurant operator’s stock valued at $645,930,000 after buying an additional 10,139,174 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Chipotle Mexican Grill by 4,816.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 8,356,173 shares of the restaurant operator’s stock valued at $523,514,000 after buying an additional 8,186,198 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Chipotle Mexican Grill by 1.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 8,200,369 shares of the restaurant operator’s stock worth $472,505,000 after acquiring an additional 132,756 shares during the last quarter. Institutional investors and hedge funds own 91.31% of the company’s stock.

Insider Transactions at Chipotle Mexican Grill

In related news, Director Robin S. Hickenlooper sold 1,790 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $56.38, for a total value of $100,920.20. Following the completion of the sale, the director now directly owns 41,510 shares in the company, valued at approximately $2,340,333.80. This trade represents a 4.13 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Curtis E. Garner sold 15,750 shares of Chipotle Mexican Grill stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $57.05, for a total value of $898,537.50. Following the transaction, the insider now owns 457,764 shares of the company’s stock, valued at $26,115,436.20. The trade was a 3.33 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 33,290 shares of company stock worth $1,866,023 in the last 90 days. Corporate insiders own 1.02% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Barclays raised their price target on Chipotle Mexican Grill from $55.00 to $60.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Robert W. Baird lifted their price target on shares of Chipotle Mexican Grill from $62.00 to $70.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Stephens reissued an “equal weight” rating and set a $65.00 price target on shares of Chipotle Mexican Grill in a research note on Tuesday, November 12th. Wedbush reaffirmed an “outperform” rating and issued a $69.00 price objective on shares of Chipotle Mexican Grill in a research note on Wednesday, October 30th. Finally, Loop Capital lifted their target price on shares of Chipotle Mexican Grill from $53.00 to $58.00 and gave the stock a “hold” rating in a report on Wednesday, October 30th. Ten analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $65.27.

Chipotle Mexican Grill Trading Up 3.4 %

Shares of CMG stock opened at $62.01 on Friday. The firm’s fifty day moving average price is $58.45 and its two-hundred day moving average price is $81.06. Chipotle Mexican Grill, Inc. has a 1 year low of $43.66 and a 1 year high of $69.26. The firm has a market capitalization of $84.49 billion, a P/E ratio of 57.95, a PEG ratio of 2.41 and a beta of 1.26.

Chipotle Mexican Grill (NYSE:CMG) last released its earnings results on Tuesday, October 29th. The restaurant operator reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.02. The business had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.82 billion. Chipotle Mexican Grill had a return on equity of 43.20% and a net margin of 13.51%. Chipotle Mexican Grill’s revenue was up 13.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.23 earnings per share. As a group, equities research analysts forecast that Chipotle Mexican Grill, Inc. will post 1.11 EPS for the current fiscal year.

About Chipotle Mexican Grill

Chipotle Mexican Grill, Inc, together with its subsidiaries, owns and operates Chipotle Mexican Grill restaurants. It sells food and beverages through offering burritos, burrito bowls, quesadillas, tacos, and salads. The company also provides delivery and related services its app and website. It has operations in the United States, Canada, France, Germany, and the United Kingdom.