Econ Financial Services Corp Buys 336 Shares of Chipotle Mexican Grill, Inc. $CMG

Econ Financial Services Corp increased its stake in Chipotle Mexican Grill, Inc. (NYSE:CMG) by 0.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 39,216 shares of the restaurant operator’s stock after buying an additional 336 shares during the quarter. Chipotle Mexican Grill comprises approximately 1.1% of Econ Financial Services Corp’s holdings, making the stock its 25th largest holding. Econ Financial Services Corp’s holdings in Chipotle Mexican Grill were worth $2,202,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Signature Resources Capital Management LLC bought a new stake in Chipotle Mexican Grill in the second quarter worth $28,000. Cloud Capital Management LLC bought a new stake in Chipotle Mexican Grill in the first quarter worth $25,000. Activest Wealth Management lifted its position in Chipotle Mexican Grill by 109.3% in the second quarter. Activest Wealth Management now owns 517 shares of the restaurant operator’s stock worth $29,000 after buying an additional 270 shares during the last quarter. Oliver Lagore Vanvalin Investment Group bought a new stake in Chipotle Mexican Grill in the second quarter worth $29,000. Finally, 1248 Management LLC bought a new stake in Chipotle Mexican Grill in the first quarter worth $27,000. 91.30% of the stock is currently owned by institutional investors.

Chipotle Mexican Grill Price Performance

CMG opened at $40.34 on Wednesday. The business’s 50-day moving average is $40.88 and its two-hundred day moving average is $46.96. Chipotle Mexican Grill, Inc. has a 1 year low of $38.30 and a 1 year high of $66.74. The firm has a market capitalization of $54.09 billion, a PE ratio of 36.01, a price-to-earnings-growth ratio of 2.74 and a beta of 0.99.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CMG. Evercore ISI decreased their target price on Chipotle Mexican Grill from $57.00 to $53.00 and set an “outperform” rating for the company in a research report on Tuesday, October 7th. Morgan Stanley decreased their target price on Chipotle Mexican Grill from $65.00 to $59.00 and set an “overweight” rating for the company in a research report on Wednesday, October 15th. Melius began coverage on Chipotle Mexican Grill in a research report on Monday, July 14th. They set a “hold” rating and a $60.00 target price for the company. Wells Fargo & Company decreased their target price on Chipotle Mexican Grill from $60.00 to $55.00 and set an “overweight” rating for the company in a research report on Thursday, October 16th. Finally, UBS Group reiterated a “buy” rating and set a $56.00 target price (down from $65.00) on shares of Chipotle Mexican Grill in a research report on Monday, October 20th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $56.13.

About Chipotle Mexican Grill

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.