Meridian Wealth Management LLC Reduces Holdings in Chipotle Mexican Grill, Inc. (NYSE:CMG)

Meridian Wealth Management LLC lowered its position in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG) by 27.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,795 shares of the restaurant operator’s stock after selling 4,115 shares during the period. Meridian Wealth Management LLC’s holdings in Chipotle Mexican Grill were worth $651,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in CMG. Stephens Inc. AR purchased a new stake in shares of Chipotle Mexican Grill during the third quarter valued at approximately $341,000. Farther Finance Advisors LLC grew its position in shares of Chipotle Mexican Grill by 4.2% during the third quarter. Farther Finance Advisors LLC now owns 13,561 shares of the restaurant operator’s stock worth $781,000 after buying an additional 545 shares in the last quarter. Janney Montgomery Scott LLC grew its position in shares of Chipotle Mexican Grill by 4.2% during the third quarter. Janney Montgomery Scott LLC now owns 425,743 shares of the restaurant operator’s stock worth $24,531,000 after buying an additional 17,268 shares in the last quarter. Confluence Wealth Services Inc. grew its position in shares of Chipotle Mexican Grill by 21.7% during the third quarter. Confluence Wealth Services Inc. now owns 5,173 shares of the restaurant operator’s stock worth $298,000 after buying an additional 923 shares in the last quarter. Finally, Van ECK Associates Corp grew its position in shares of Chipotle Mexican Grill by 10.8% during the third quarter. Van ECK Associates Corp now owns 348,430 shares of the restaurant operator’s stock worth $20,564,000 after buying an additional 34,081 shares in the last quarter. Hedge funds and other institutional investors own 91.31% of the company’s stock.

Chipotle Mexican Grill Trading Down 2.3 %

Shares of CMG opened at $53.10 on Wednesday. The business’s 50-day moving average price is $57.05 and its 200 day moving average price is $58.14. The stock has a market capitalization of $71.96 billion, a P/E ratio of 47.82, a P/E/G ratio of 2.04 and a beta of 1.27. Chipotle Mexican Grill, Inc. has a 1-year low of $47.98 and a 1-year high of $69.26.

Chipotle Mexican Grill (NYSE:CMG) last issued its quarterly earnings results on Tuesday, February 4th. The restaurant operator reported $0.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.01. Chipotle Mexican Grill had a return on equity of 42.92% and a net margin of 13.56%. On average, research analysts predict that Chipotle Mexican Grill, Inc. will post 1.29 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Laurie Schalow sold 4,404 shares of Chipotle Mexican Grill stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $65.01, for a total value of $286,304.04. Following the transaction, the insider now owns 185,792 shares of the company’s stock, valued at approximately $12,078,337.92. This trade represents a 2.32 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.02% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on CMG shares. Piper Sandler decreased their price target on shares of Chipotle Mexican Grill from $60.00 to $59.00 and set a “neutral” rating for the company in a research report on Wednesday, February 5th. Wedbush decreased their price target on shares of Chipotle Mexican Grill from $69.00 to $64.00 and set an “outperform” rating for the company in a research report on Wednesday, February 5th. Sanford C. Bernstein reissued an “outperform” rating and set a $70.00 price target on shares of Chipotle Mexican Grill in a research report on Tuesday, January 28th. Wells Fargo & Company decreased their price target on shares of Chipotle Mexican Grill from $75.00 to $70.00 and set an “overweight” rating for the company in a research report on Wednesday, February 5th. Finally, Stephens decreased their price objective on shares of Chipotle Mexican Grill from $61.00 to $60.00 and set an “equal weight” rating for the company in a report on Wednesday, February 5th. Nine investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $66.60.

Chipotle Mexican Grill 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.