Abound Wealth Management Purchases 2,157 Shares of Chipotle Mexican Grill, Inc. (NYSE:CMG)

Abound Wealth Management grew its holdings in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG) by 5,016.3% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,200 shares of the restaurant operator’s stock after buying an additional 2,157 shares during the quarter. Abound Wealth Management’s holdings in Chipotle Mexican Grill were worth $138,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of CMG. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Chipotle Mexican Grill during the 2nd quarter valued at about $25,000. Riverview Trust Co increased its position in shares of Chipotle Mexican Grill by 4,900.0% during the second quarter. Riverview Trust Co now owns 400 shares of the restaurant operator’s stock worth $25,000 after acquiring an additional 392 shares during the period. RiverPark Advisors LLC raised its stake in shares of Chipotle Mexican Grill by 4,900.0% during the second quarter. RiverPark Advisors LLC now owns 400 shares of the restaurant operator’s stock valued at $25,000 after acquiring an additional 392 shares in the last quarter. Archer Investment Corp purchased a new stake in shares of Chipotle Mexican Grill in the second quarter valued at approximately $25,000. Finally, Chilton Capital Management LLC bought a new position in Chipotle Mexican Grill in the second quarter worth approximately $27,000. 91.31% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Robin S. Hickenlooper sold 1,790 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $56.38, for a total value of $100,920.20. Following the sale, the director now directly owns 41,510 shares of the company’s stock, valued at approximately $2,340,333.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Chipotle Mexican Grill news, insider Curtis E. Garner sold 15,750 shares of the business’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $55.02, for a total value of $866,565.00. Following the completion of the transaction, the insider now directly owns 473,514 shares of the company’s stock, valued at $26,052,740.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robin S. Hickenlooper sold 1,790 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $56.38, for a total transaction of $100,920.20. Following the sale, the director now directly owns 41,510 shares in the company, valued at approximately $2,340,333.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 34,934 shares of company stock valued at $1,918,589. 1.02% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

CMG has been the subject of a number of research analyst reports. Evercore ISI decreased their target price on Chipotle Mexican Grill from $65.00 to $59.00 and set an “outperform” rating for the company in a research report on Wednesday, August 14th. Robert W. Baird cut their target price on shares of Chipotle Mexican Grill from $74.00 to $62.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 14th. Stephens reiterated an “equal weight” rating and set a $61.00 price objective on shares of Chipotle Mexican Grill in a research note on Tuesday, August 13th. Barclays reduced their price objective on shares of Chipotle Mexican Grill from $58.00 to $55.00 and set an “equal weight” rating for the company in a research note on Thursday, July 25th. Finally, Piper Sandler dropped their target price on Chipotle Mexican Grill from $61.00 to $56.00 and set a “neutral” rating on the stock in a research report on Thursday, July 25th. Ten equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $62.36.

Chipotle Mexican Grill Price Performance

NYSE CMG opened at $56.12 on Monday. The company has a market cap of $77.07 billion, a price-to-earnings ratio of 59.70, a PEG ratio of 2.33 and a beta of 1.25. The stock’s fifty day moving average price is $54.30 and its 200 day moving average price is $81.09. Chipotle Mexican Grill, Inc. has a 1 year low of $35.37 and a 1 year high of $69.26.

Chipotle Mexican Grill (NYSE:CMG) last announced its quarterly earnings data on Wednesday, July 24th. The restaurant operator reported $0.34 earnings per share for the quarter, beating 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 business had revenue of $2.97 billion for the quarter, compared to analyst estimates of $2.94 billion. During the same period in the prior year, the company earned $12.65 earnings per share. The company’s revenue was up 18.2% on a year-over-year basis. Research analysts expect that Chipotle Mexican Grill, Inc. will post 1.08 earnings per share for the current year.

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.