Evanson Asset Management LLC Makes New $323,000 Investment in Chipotle Mexican Grill, Inc. (NYSE:CMG)

Evanson Asset Management LLC purchased a new stake in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 5,150 shares of the restaurant operator’s stock, valued at approximately $323,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Steph & Co. bought a new position in Chipotle Mexican Grill in the first quarter worth $29,000. Semmax Financial Advisors Inc. increased its holdings in Chipotle Mexican Grill by 225.0% in the first quarter. Semmax Financial Advisors Inc. now owns 13 shares of the restaurant operator’s stock valued at $42,000 after purchasing an additional 9 shares during the last quarter. Crewe Advisors LLC acquired a new stake in Chipotle Mexican Grill during the 1st quarter worth $44,000. Turtle Creek Wealth Advisors LLC acquired a new position in shares of Chipotle Mexican Grill in the 4th quarter valued at approximately $37,000. Finally, ICA Group Wealth Management LLC bought a new stake in shares of Chipotle Mexican Grill during the fourth quarter worth $37,000. Institutional investors and hedge funds own 91.31% of the company’s stock.

Chipotle Mexican Grill Stock Performance

Shares of Chipotle Mexican Grill stock traded up $1.23 on Friday, hitting $55.55. The stock had a trading volume of 11,569,747 shares, compared to its average volume of 14,392,227. The firm has a market capitalization of $76.29 billion, a P/E ratio of 59.10, a PEG ratio of 2.23 and a beta of 1.24. Chipotle Mexican Grill, Inc. has a twelve month low of $35.37 and a twelve month high of $69.26. The stock has a 50 day moving average of $123.48 and a 200 day moving average of $80.28.

Chipotle Mexican Grill (NYSE:CMG) last posted its quarterly earnings data on Wednesday, July 24th. The restaurant operator reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.02. Chipotle Mexican Grill had a return on equity of 44.01% and a net margin of 13.23%. The company had revenue of $2.97 billion for the quarter, compared to analyst estimates of $2.94 billion. During the same period in the previous year, the firm earned $12.65 earnings per share. The firm’s quarterly revenue was up 18.2% on a year-over-year basis. Equities analysts expect that Chipotle Mexican Grill, Inc. will post 1.09 earnings per share for the current year.

Insider Activity at Chipotle Mexican Grill

In related news, insider Curtis E. Garner sold 17,394 shares of the stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $54.68, for a total transaction of $951,103.92. Following the transaction, the insider now directly owns 358,300 shares of the company’s stock, valued at $19,591,844. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.02% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Stephens cut their price target on shares of Chipotle Mexican Grill from $64.00 to $61.00 and set an “equal weight” rating for the company in a research note on Thursday, July 25th. Piper Sandler dropped their price objective on Chipotle Mexican Grill from $61.00 to $56.00 and set a “neutral” rating on the stock in a research note on Thursday, July 25th. Jefferies Financial Group lifted their target price on Chipotle Mexican Grill from $47.00 to $54.00 and gave the stock a “hold” rating in a research note on Tuesday, April 16th. StockNews.com downgraded shares of Chipotle Mexican Grill from a “buy” rating to a “hold” rating in a report on Thursday, July 4th. Finally, Evercore ISI dropped their price target on shares of Chipotle Mexican Grill from $72.00 to $65.00 and set an “outperform” rating for the company in a research report on Thursday, July 25th. Eleven investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat.com, Chipotle Mexican Grill currently has a consensus rating of “Moderate Buy” and a consensus target price of $62.88.

Chipotle Mexican Grill Company Profile

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.