Meridian Wealth Management LLC Sells 17,482 Shares of Chipotle Mexican Grill, Inc. $CMG

Meridian Wealth Management LLC lowered its position in Chipotle Mexican Grill, Inc. (NYSE:CMG) by 72.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,669 shares of the restaurant operator’s stock after selling 17,482 shares during the quarter. Meridian Wealth Management LLC’s holdings in Chipotle Mexican Grill were worth $247,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in CMG. Financial Life Planners bought a new position in shares of Chipotle Mexican Grill in the third quarter worth $25,000. Wealth Watch Advisors INC bought a new position in shares of Chipotle Mexican Grill in the third quarter worth $25,000. Murphy & Mullick Capital Management Corp increased its holdings in shares of Chipotle Mexican Grill by 106.7% in the third quarter. Murphy & Mullick Capital Management Corp now owns 775 shares of the restaurant operator’s stock worth $30,000 after purchasing an additional 400 shares during the period. Winthrop Capital Management LLC bought a new position in shares of Chipotle Mexican Grill in the third quarter worth $31,000. Finally, Glass Jacobson Investment Advisors llc bought a new position in shares of Chipotle Mexican Grill in the third quarter worth $32,000. Institutional investors own 91.30% of the company’s stock.

Chipotle Mexican Grill Stock Performance

Shares of NYSE:CMG opened at $32.59 on Friday. The firm has a fifty day moving average of $33.54 and a 200 day moving average of $35.36. Chipotle Mexican Grill, Inc. has a 52-week low of $29.75 and a 52-week high of $58.42. The firm has a market capitalization of $41.81 billion, a PE ratio of 29.90, a price-to-earnings-growth ratio of 2.07 and a beta of 1.03.

Chipotle Mexican Grill (NYSE:CMG) last posted its quarterly earnings results on Wednesday, April 29th. The restaurant operator reported $0.24 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.24. Chipotle Mexican Grill had a net margin of 11.96% and a return on equity of 49.64%. The business had revenue of $3.09 billion during the quarter, compared to analyst estimates of $3.07 billion. During the same period in the prior year, the business posted $0.29 earnings per share. The company’s revenue was up 7.4% on a year-over-year basis. On average, sell-side analysts forecast that Chipotle Mexican Grill, Inc. will post 1.13 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on CMG. Barclays cut their target price on shares of Chipotle Mexican Grill from $40.00 to $38.00 and set an “equal weight” rating for the company in a research report on Thursday, April 30th. Wall Street Zen upgraded shares of Chipotle Mexican Grill from a “sell” rating to a “hold” rating in a research report on Saturday, March 7th. Mizuho upgraded shares of Chipotle Mexican Grill from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $37.00 to $40.00 in a research report on Friday, March 20th. TD Cowen reiterated a “buy” rating and issued a $44.00 target price on shares of Chipotle Mexican Grill in a research report on Thursday, April 30th. Finally, Piper Sandler cut their target price on shares of Chipotle Mexican Grill from $44.00 to $42.00 and set an “overweight” rating for the company in a research report on Thursday, April 30th. Twenty-four research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $46.03.

Chipotle Mexican Grill Profile

Chipotle Mexican Grill is a fast-casual restaurant company known for its Mexican-inspired menu of burritos, bowls, tacos and salads. Founded in 1993 by Steve Ells, the chain emphasizes fresh, customizable meals made from a limited menu of core ingredients and a focus on ingredient quality. Chipotle operates primarily company-owned restaurants and offers dine-in, takeout, catering and delivery through its own digital platforms and third-party partners.

The company is headquartered in Newport Beach, California, and traces its roots to Denver, Colorado.