25,636 Chipotle Mexican Grill, Inc. $CMG Shares Bought by Provenance Wealth Advisors LLC

Provenance Wealth Advisors LLC increased its stake in Chipotle Mexican Grill, Inc. (NYSE:CMG) by 142,422.2% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,654 shares of the restaurant operator’s stock after acquiring an additional 25,636 shares during the quarter. Provenance Wealth Advisors LLC’s holdings in Chipotle Mexican Grill were worth $820,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of CMG. Osbon Capital Management LLC acquired a new stake in Chipotle Mexican Grill in the second quarter worth $26,000. Meeder Asset Management Inc. acquired a new position in shares of Chipotle Mexican Grill during the second quarter valued at about $27,000. Kelleher Financial Advisors acquired a new position in shares of Chipotle Mexican Grill during the second quarter valued at about $28,000. Rule One Partners LLC acquired a new position in shares of Chipotle Mexican Grill during the first quarter valued at about $32,000. Finally, GKV Capital Management Co. Inc. acquired a new position in shares of Chipotle Mexican Grill during the first quarter valued at about $32,000. Institutional investors and hedge funds own 91.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Piper Sandler reduced their target price on Chipotle Mexican Grill from $42.00 to $39.00 and set an “overweight” rating for the company in a research note on Thursday, July 30th. Morgan Stanley upped their price target on Chipotle Mexican Grill from $39.00 to $40.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 15th. Gordon Haskett cut their price target on Chipotle Mexican Grill from $42.00 to $36.00 and set a “hold” rating on the stock in a report on Monday, October 19th. Telsey Advisory Group set a $40.00 price target on Chipotle Mexican Grill in a report on Thursday, October 29th. Finally, BNP Paribas Exane reduced their price objective on Chipotle Mexican Grill from $39.00 to $36.00 and set a “neutral” rating for the company in a research note on Thursday, October 29th. Twenty-seven analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $42.36.

Insiders Place Their Bets

In other Chipotle Mexican Grill 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 completion of the transaction, the insider owned 21,415 shares in the company, valued at approximately $765,586.25. The trade was a 11.10% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.45% of the company’s stock.

Chipotle Mexican Grill Trading Up 5.8%

Chipotle Mexican Grill stock opened at $35.17 on Thursday. Chipotle Mexican Grill, Inc. has a 1-year low of $27.31 and a 1-year high of $41.42. The firm has a market capitalization of $44.49 billion, a price-to-earnings ratio of 32.87, a price-to-earnings-growth ratio of 2.19 and a beta of 1.00. The firm’s fifty day moving average price is $32.84 and its two-hundred day moving average price is $34.03.

Chipotle Mexican Grill (NYSE:CMG) last posted its earnings results on Wednesday, October 28th. The restaurant operator reported $0.27 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.02). The business had revenue of $3.29 billion for the quarter, compared to the consensus estimate of $3.29 billion. Chipotle Mexican Grill had a return on equity of 57.05% and a net margin of 10.83%. During the same period in the previous year, the firm earned $0.29 earnings per share. The company’s revenue was up 9.6% on a year-over-year basis. On average, research analysts forecast that Chipotle Mexican Grill, Inc. will post 1.10 EPS for the current year.

Chipotle Mexican Grill Company Profile

Chipotle Mexican Grill, Inc (NYSE: CMG) operates a chain of fast-casual restaurants focused on Mexican-inspired food. Its menu includes burritos, burrito bowls, tacos, quesadillas and salads, with options such as chicken, steak, barbacoa, carnitas, sofritas and vegetables. The company emphasizes preparing food in its restaurants from ingredients it describes as responsibly sourced, including meats raised with attention to animal welfare and produce from selected suppliers.

Founded by Steve Ells in 1993, Chipotle opened its first restaurant in Denver, Colorado.