Econ Financial Services Corp Acquires Shares of 11,478 Chipotle Mexican Grill, Inc. (NYSE:CMG)

Econ Financial Services Corp bought a new stake in Chipotle Mexican Grill, Inc. (NYSE:CMG) during the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 11,478 shares of the restaurant operator’s stock, valued at approximately $692,000.

A number of other institutional investors also recently made changes to their positions in CMG. Alpha DNA Investment Management LLC increased its position in shares of Chipotle Mexican Grill by 1.2% during the 3rd quarter. Alpha DNA Investment Management LLC now owns 13,644 shares of the restaurant operator’s stock valued at $786,000 after purchasing an additional 168 shares during the period. Lecap Asset Management Ltd. boosted its stake in Chipotle Mexican Grill by 1.2% during the third quarter. Lecap Asset Management Ltd. now owns 14,625 shares of the restaurant operator’s stock valued at $843,000 after buying an additional 175 shares in the last quarter. Connable Office Inc. boosted its stake in Chipotle Mexican Grill by 0.6% during the third quarter. Connable Office Inc. now owns 31,928 shares of the restaurant operator’s stock valued at $1,840,000 after buying an additional 178 shares in the last quarter. Albion Financial Group UT grew its holdings in Chipotle Mexican Grill by 14.4% during the third quarter. Albion Financial Group UT now owns 1,430 shares of the restaurant operator’s stock worth $82,000 after acquiring an additional 180 shares during the period. Finally, Traynor Capital Management Inc. raised its position in Chipotle Mexican Grill by 2.5% in the fourth quarter. Traynor Capital Management Inc. now owns 7,522 shares of the restaurant operator’s stock worth $454,000 after acquiring an additional 181 shares in the last quarter. 91.31% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Chipotle Mexican Grill

In related news, insider Laurie Schalow sold 4,404 shares of the business’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $65.01, for a total value of $286,304.04. Following the completion of the sale, the insider now directly owns 185,792 shares in the company, valued at approximately $12,078,337.92. The trade was a 2.32 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.02% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on CMG. TD Cowen raised their price objective on shares of Chipotle Mexican Grill from $65.00 to $68.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Cfra upgraded shares of Chipotle Mexican Grill from a “buy” rating to a “strong-buy” rating and lifted their price target for the stock from $59.00 to $73.00 in a research report on Wednesday. Jefferies Financial Group increased their price objective on Chipotle Mexican Grill from $56.00 to $62.00 and gave the company a “hold” rating in a research report on Monday, December 16th. Wells Fargo & Company lifted their target price on Chipotle Mexican Grill from $67.00 to $75.00 and gave the stock an “overweight” rating in a report on Thursday, December 12th. Finally, Piper Sandler upped their target price on Chipotle Mexican Grill from $59.00 to $60.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Ten research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $66.56.

Chipotle Mexican Grill Price Performance

Shares of NYSE CMG opened at $59.10 on Wednesday. Chipotle Mexican Grill, Inc. has a one year low of $47.98 and a one year high of $69.26. The business’s 50-day moving average price is $60.36 and its two-hundred day moving average price is $57.84. The company has a market capitalization of $80.53 billion, a P/E ratio of 55.01, a price-to-earnings-growth ratio of 2.07 and a beta of 1.27.

Chipotle Mexican Grill (NYSE:CMG) last announced its quarterly earnings results on Tuesday, February 4th. The restaurant operator reported $0.25 EPS for the quarter, beating the consensus estimate of $0.24 by $0.01. Chipotle Mexican Grill had a return on equity of 43.20% and a net margin of 13.51%. On average, equities analysts anticipate that Chipotle Mexican Grill, Inc. will post 1.11 EPS 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.