Financial Gravity Asset Management Inc. Purchases 45,309 Shares of Chipotle Mexican Grill, Inc. (NYSE:CMG)

Financial Gravity Asset Management Inc. increased its holdings in Chipotle Mexican Grill, Inc. (NYSE:CMG) by 5,172.3% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 46,185 shares of the restaurant operator’s stock after purchasing an additional 45,309 shares during the period. Financial Gravity Asset Management Inc.’s holdings in Chipotle Mexican Grill were worth $2,896,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of CMG. Steph & Co. bought a new stake in Chipotle Mexican Grill in the 1st quarter valued at $29,000. Semmax Financial Advisors Inc. grew its position in shares of Chipotle Mexican Grill by 225.0% during the first quarter. Semmax Financial Advisors Inc. now owns 13 shares of the restaurant operator’s stock valued at $42,000 after purchasing an additional 9 shares in the last quarter. Crewe Advisors LLC bought a new stake in shares of Chipotle Mexican Grill in the first quarter worth about $44,000. ICA Group Wealth Management LLC purchased a new stake in shares of Chipotle Mexican Grill in the fourth quarter worth about $37,000. Finally, Westside Investment Management Inc. bought a new position in Chipotle Mexican Grill during the first quarter valued at approximately $58,000. Hedge funds and other institutional investors own 91.31% of the company’s stock.

Insiders Place Their Bets

In other Chipotle Mexican Grill news, insider Curtis E. Garner sold 17,394 shares of the company’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $54.68, for a total value of $951,103.92. Following the completion of the sale, the insider now directly owns 358,300 shares in the company, valued at approximately $19,591,844. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.02% of the stock is currently owned by company insiders.

Chipotle Mexican Grill Trading Up 1.2 %

NYSE CMG opened at $53.68 on Friday. The stock has a market cap of $73.72 billion, a PE ratio of 57.11, a PEG ratio of 2.34 and a beta of 1.25. Chipotle Mexican Grill, Inc. has a 12 month low of $35.37 and a 12 month high of $69.26. The company’s 50-day moving average price is $54.95 and its 200-day moving average price is $80.80.

Chipotle Mexican Grill (NYSE:CMG) last issued its earnings results on Wednesday, July 24th. The restaurant operator reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.02. Chipotle Mexican Grill had a net margin of 13.23% and a return on equity of 44.01%. The business had revenue of $2.97 billion for the quarter, compared to the consensus estimate of $2.94 billion. During the same period in the prior year, the firm earned $12.65 EPS. The company’s revenue for the quarter was up 18.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Chipotle Mexican Grill, Inc. will post 1.08 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on CMG shares. Oppenheimer reduced their price objective on Chipotle Mexican Grill from $70.00 to $65.00 and set an “outperform” rating on the stock in a research note on Thursday, July 25th. StockNews.com downgraded shares of Chipotle Mexican Grill from a “buy” rating to a “hold” rating in a research note on Thursday, July 4th. Wedbush reiterated an “outperform” rating and set a $58.00 price objective on shares of Chipotle Mexican Grill in a research report on Thursday, August 29th. Raymond James reduced their target price on shares of Chipotle Mexican Grill from $70.00 to $62.50 and set an “outperform” rating on the stock in a report on Thursday, July 25th. Finally, Argus upped their target price on shares of Chipotle Mexican Grill from $73.36 to $77.76 and gave the company a “buy” rating in a research report on Tuesday, June 18th. Ten research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat, Chipotle Mexican Grill currently has a consensus rating of “Moderate Buy” and a consensus price target of $62.36.

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.