Waterway Wealth Management LLC Buys 37,649 Shares of Chipotle Mexican Grill, Inc. $CMG

Waterway Wealth Management LLC boosted its stake in Chipotle Mexican Grill, Inc. (NYSE:CMG) by 153.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 62,113 shares of the restaurant operator’s stock after buying an additional 37,649 shares during the period. Chipotle Mexican Grill accounts for approximately 0.5% of Waterway Wealth Management LLC’s portfolio, making the stock its 21st largest position. Waterway Wealth Management LLC’s holdings in Chipotle Mexican Grill were worth $2,434,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Wesbanco Bank Inc. boosted its position in shares of Chipotle Mexican Grill by 1,579.7% during the third quarter. Wesbanco Bank Inc. now owns 79,734 shares of the restaurant operator’s stock valued at $3,125,000 after purchasing an additional 74,987 shares in the last quarter. Rockland Trust Co. purchased a new stake in shares of Chipotle Mexican Grill in the 3rd quarter worth about $2,476,000. Wealthfront Advisers LLC boosted its stake in Chipotle Mexican Grill by 1.4% during the third quarter. Wealthfront Advisers LLC now owns 126,435 shares of the restaurant operator’s stock worth $4,955,000 after acquiring an additional 1,728 shares in the last quarter. Johnson Investment Counsel Inc. grew its holdings in Chipotle Mexican Grill by 29.1% in the third quarter. Johnson Investment Counsel Inc. now owns 17,277 shares of the restaurant operator’s stock worth $677,000 after purchasing an additional 3,899 shares during the period. Finally, Prospera Financial Services Inc increased its stake in shares of Chipotle Mexican Grill by 2.5% during the third quarter. Prospera Financial Services Inc now owns 40,266 shares of the restaurant operator’s stock valued at $1,578,000 after purchasing an additional 964 shares in the last quarter. Hedge funds and other institutional investors own 91.30% of the company’s stock.

Chipotle Mexican Grill Stock Performance

Shares of CMG stock opened at $39.55 on Tuesday. The stock has a fifty day simple moving average of $37.90 and a two-hundred day simple moving average of $38.65. The firm has a market capitalization of $51.51 billion, a PE ratio of 34.69, a PEG ratio of 2.41 and a beta of 0.99. Chipotle Mexican Grill, Inc. has a 52-week low of $29.75 and a 52-week high of $59.09.

Chipotle Mexican Grill (NYSE:CMG) last issued its earnings results on Tuesday, February 3rd. The restaurant operator reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.01. Chipotle Mexican Grill had a return on equity of 47.99% and a net margin of 12.88%.The firm had revenue of $2.98 billion for the quarter, compared to analysts’ expectations of $2.96 billion. During the same period in the previous year, the firm posted $0.25 earnings per share. The business’s revenue was up 4.9% compared to the same quarter last year. On average, sell-side analysts forecast that Chipotle Mexican Grill, Inc. will post 1.29 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on CMG shares. Truist Financial lifted their price objective on Chipotle Mexican Grill from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Thursday, January 8th. Gordon Haskett downgraded Chipotle Mexican Grill from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 8th. The Goldman Sachs Group reiterated a “buy” rating on shares of Chipotle Mexican Grill in a research note on Thursday, December 18th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $48.00 target price on shares of Chipotle Mexican Grill in a research note on Wednesday, February 4th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Chipotle Mexican Grill from $44.00 to $40.00 and set a “neutral” rating for the company in a report on Thursday, October 30th. Twenty-two research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. According to data from MarketBeat, Chipotle Mexican Grill presently has a consensus rating of “Moderate Buy” and an average price target of $47.24.

About Chipotle Mexican Grill

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.