Meridian Wealth Advisors LLC Makes New $4.26 Million Investment in Chipotle Mexican Grill, Inc. (NYSE:CMG)

Meridian Wealth Advisors LLC acquired a new stake in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 70,716 shares of the restaurant operator's stock, valued at approximately $4,264,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in CMG. Geode Capital Management LLC increased its stake in Chipotle Mexican Grill by 1.6% during the 3rd quarter. Geode Capital Management LLC now owns 28,080,978 shares of the restaurant operator's stock valued at $1,612,682,000 after purchasing an additional 438,007 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of Chipotle Mexican Grill by 0.8% in the 4th quarter. American Century Companies Inc. now owns 20,236,980 shares of the restaurant operator's stock worth $1,220,290,000 after acquiring an additional 166,767 shares during the last quarter. Franklin Resources Inc. lifted its position in Chipotle Mexican Grill by 2.9% in the 3rd quarter. Franklin Resources Inc. now owns 13,661,937 shares of the restaurant operator's stock valued at $805,692,000 after acquiring an additional 381,873 shares in the last quarter. Alphinity Investment Management Pty Ltd acquired a new position in Chipotle Mexican Grill during the 4th quarter valued at about $692,701,000. Finally, Janus Henderson Group PLC raised its stake in shares of Chipotle Mexican Grill by 5.6% in the third quarter. Janus Henderson Group PLC now owns 9,830,644 shares of the restaurant operator's stock worth $566,439,000 after purchasing an additional 518,521 shares during the last quarter. Institutional investors own 91.31% of the company's stock.

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Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Stifel Nicolaus cut their target price on Chipotle Mexican Grill from $68.00 to $65.00 and set a "buy" rating on the stock in a research report on Wednesday, March 19th. Barclays reduced their target price on shares of Chipotle Mexican Grill from $63.00 to $60.00 and set an "equal weight" rating for the company in a research note on Wednesday, February 5th. Citigroup raised their price target on shares of Chipotle Mexican Grill from $69.00 to $70.00 and gave the company a "buy" rating in a research report on Wednesday, February 5th. Sanford C. Bernstein reaffirmed an "outperform" rating and issued a $70.00 price objective on shares of Chipotle Mexican Grill in a research report on Tuesday, January 28th. Finally, Royal Bank of Canada reiterated an "outperform" rating and issued a $75.00 price objective on shares of Chipotle Mexican Grill in a research note on Tuesday, January 28th. Eight research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $66.67.

Chipotle Mexican Grill Stock Down 0.2 %

Shares of NYSE:CMG traded down $0.11 during midday trading on Tuesday, reaching $49.49. 11,312,742 shares of the company traded hands, compared to its average volume of 13,047,992. Chipotle Mexican Grill, Inc. has a 12 month low of $47.55 and a 12 month high of $69.26. The firm's fifty day moving average price is $54.40 and its two-hundred day moving average price is $57.70. The firm has a market capitalization of $67.08 billion, a price-to-earnings ratio of 44.58, a price-to-earnings-growth ratio of 2.04 and a beta of 1.27.

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) last announced its quarterly earnings results on Tuesday, February 4th. The restaurant operator reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.01. Chipotle Mexican Grill had a return on equity of 42.92% and a net margin of 13.56%. Analysts forecast that Chipotle Mexican Grill, Inc. will post 1.29 earnings per share for the current year.

About Chipotle Mexican Grill

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.