Cornerstone Wealth Management LLC grew its holdings in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG) by 17.1% during the third quarter, HoldingsChannel.com reports. The firm owned 35,254 shares of the restaurant operator’s stock after purchasing an additional 5,142 shares during the quarter. Cornerstone Wealth Management LLC’s holdings in Chipotle Mexican Grill were worth $116,000 at the end of the most recent quarter.
Other institutional investors have also modified their holdings of the company. Canada Pension Plan Investment Board lifted its stake in shares of Chipotle Mexican Grill by 636.4% during the 2nd quarter. Canada Pension Plan Investment Board now owns 243 shares of the restaurant operator’s stock worth $105,000 after purchasing an additional 210 shares during the period. Piedmont Investment Advisors LLC purchased a new position in shares of Chipotle Mexican Grill during the 2nd quarter worth $119,000. Dupont Capital Management Corp purchased a new position in shares of Chipotle Mexican Grill during the 2nd quarter worth $123,000. Bessemer Group Inc. purchased a new position in shares of Chipotle Mexican Grill during the 2nd quarter worth $184,000. Finally, First Hawaiian Bank purchased a new position in shares of Chipotle Mexican Grill during the 3rd quarter worth $202,000. 89.13% of the stock is currently owned by institutional investors.
NYSE:CMG opened at $490.76 on Friday. Chipotle Mexican Grill, Inc. has a 12 month low of $247.51 and a 12 month high of $530.68. The stock has a market capitalization of $13.29 billion, a price-to-earnings ratio of 56.27, a P/E/G ratio of 3.16 and a beta of 0.22.
Several research analysts recently weighed in on CMG shares. Wedbush lowered Chipotle Mexican Grill from a “neutral” rating to an “underperform” rating and cut their target price for the stock from $450.00 to $445.00 in a research report on Monday, August 27th. Oppenheimer lowered Chipotle Mexican Grill from a “market perform” rating to an “underperform” rating and set a $400.00 target price on the stock. in a research report on Monday, October 1st. They noted that the move was a valuation call. Jefferies Financial Group raised Chipotle Mexican Grill from a “hold” rating to a “buy” rating in a research report on Tuesday, July 31st. Morgan Stanley raised Chipotle Mexican Grill from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $413.00 to $600.00 in a research report on Wednesday, August 15th. Finally, KeyCorp started coverage on Chipotle Mexican Grill in a research report on Wednesday, October 3rd. They issued an “overweight” rating and a $500.00 target price on the stock. Nine equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and fifteen have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $431.72.
In other Chipotle Mexican Grill news, Director Pershing Square Capital Manage sold 118,307 shares of the firm’s stock in a transaction dated Tuesday, November 6th. The stock was sold at an average price of $472.05, for a total value of $55,846,819.35. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 2.19% of the company’s stock.
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About Chipotle Mexican Grill
Chipotle Mexican Grill, Inc, together with its subsidiaries, operates Chipotle Mexican Grill restaurants. As of December 31, 2017, it operated 2,363 Chipotle restaurants throughout the United States, as well as 37 international Chipotle restaurants; and 8 non-Chipotle restaurants. The company was founded in 1993 and is based in Denver, Colorado.
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