Cornerstone Wealth Group LLC Invests $260,000 in Chipotle Mexican Grill, Inc. $CMG

Cornerstone Wealth Group LLC bought a new position in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 4,629 shares of the restaurant operator’s stock, valued at approximately $260,000.

Other institutional investors also recently modified their holdings of the company. Charles Schwab Investment Management Inc. boosted its holdings in shares of Chipotle Mexican Grill by 5.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 8,979,637 shares of the restaurant operator’s stock worth $450,868,000 after purchasing an additional 491,002 shares during the period. Corient IA LLC purchased a new stake in shares of Chipotle Mexican Grill during the first quarter worth about $753,000. Advisors Asset Management Inc. boosted its holdings in shares of Chipotle Mexican Grill by 32.4% during the first quarter. Advisors Asset Management Inc. now owns 75,368 shares of the restaurant operator’s stock worth $3,784,000 after purchasing an additional 18,458 shares during the period. Hilltop National Bank bought a new position in Chipotle Mexican Grill in the second quarter worth about $2,579,000. Finally, Banco Santander S.A. raised its stake in Chipotle Mexican Grill by 47.6% in the first quarter. Banco Santander S.A. now owns 31,764 shares of the restaurant operator’s stock worth $1,595,000 after buying an additional 10,246 shares in the last quarter. 91.30% of the stock is currently owned by hedge funds and other institutional investors.

Chipotle Mexican Grill Stock Up 2.9%

Shares of CMG opened at $42.08 on Wednesday. The company has a market capitalization of $56.42 billion, a P/E ratio of 37.57, a price-to-earnings-growth ratio of 2.46 and a beta of 0.99. The firm has a 50 day moving average of $41.14 and a 200 day moving average of $47.51. Chipotle Mexican Grill, Inc. has a twelve month low of $38.30 and a twelve month high of $66.74.

Chipotle Mexican Grill (NYSE:CMG) last announced its quarterly earnings results on Wednesday, July 23rd. The restaurant operator reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.01. The company had revenue of $3.06 billion during the quarter, compared to the consensus estimate of $3.11 billion. Chipotle Mexican Grill had a net margin of 13.32% and a return on equity of 43.50%. The firm’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.34 earnings per share. On average, sell-side analysts expect that Chipotle Mexican Grill, Inc. will post 1.29 EPS for the current year.

Analysts Set New Price Targets

CMG has been the subject of a number of research reports. Sanford C. Bernstein decreased their price target on shares of Chipotle Mexican Grill from $65.00 to $60.00 and set an “outperform” rating for the company in a research note on Thursday, October 2nd. UBS Group increased their price target on shares of Chipotle Mexican Grill from $60.00 to $65.00 and gave the stock a “buy” rating in a research note on Thursday, July 17th. TD Cowen reissued a “buy” rating and issued a $58.00 price target on shares of Chipotle Mexican Grill in a research note on Friday, September 19th. Weiss Ratings reissued a “hold (c)” rating on shares of Chipotle Mexican Grill in a research note on Wednesday, October 8th. Finally, Raymond James Financial decreased their price target on shares of Chipotle Mexican Grill from $60.00 to $56.00 and set an “outperform” rating for the company in a research note on Friday, August 15th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $58.07.

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.