Accurate Wealth Management LLC Acquires 46,651 Shares of Chipotle Mexican Grill, Inc.

Accurate Wealth Management LLC recently acquired a new stake in Chipotle Mexican Grill, Inc. (NYSE:CMG) during the third quarter. According to the company's latest Form 13F filing with the Securities and Exchange Commission (SEC), Accurate Wealth Management purchased 46,651 shares of the popular restaurant chain, with the total value of this investment being approximately $2,790,000.

In addition to Accurate Wealth Management, other institutional investors have also adjusted their positions in Chipotle's stock. For instance, Shellback Capital LP made a significant increase of 4,900.0% in their holdings during the second quarter, bringing their total ownership to 125,000 shares valued at around $7,831,000 after acquiring an additional 122,500 shares. Furthermore, Swedbank AB entered the market by purchasing a new position in Chipotle valued at $53,979,000 in the first quarter.

Likewise, Transform Wealth LLC increased its stake by 4,760.7% in the second quarter and now possesses 9,527 shares, worth about $597,000. First Hawaiian Bank also elevated its holdings by 4,731.0% during the same period, and now holds 17,150 shares valued at $1,074,000. Additionally, Legacy Private Trust Co. acquired a new stake in the third quarter, amounting to $2,267,000. Notably, institutional investors now collectively own 91.31% of Chipotle's shares.

Insider Transactions

In related news, Chipotle's insider activity shows that Curtis E. Garner sold 15,750 shares of the company on October 7th. The shares were sold at an average price of $57.05, totaling approximately $898,537. Following this sale, Garner now owns 457,764 shares valued at around $26,115,436. This sale represented a minor change of 0.00% in their holdings. This transaction was reported through SEC filings.

In another insider move, Director Robin S. Hickenlooper sold 1,790 shares on September 12th at an average price of $56.38, totaling $100,920.20. Hickenlooper continues to own 41,510 shares of Chipotle, worth around $2,340,333.80. In the past 90 days, insiders have divested a total of 50,684 shares valued at $2,817,127, with 1.02% of the stock currently held by insiders.

Analyst Opinions

Market analysts have also provided their insights on Chipotle's stock performance. Barclays reduced its price target for Chipotle from $58.00 to $55.00, maintaining an 'equal weight' rating. Meanwhile, Piper Sandler raised their price objective from $56.00 to $59.00, labeling the stock as 'neutral'. KeyCorp has also adjusted its price target downwards from $68.00 to $66.00, maintaining an 'overweight' rating.

Stephens reiterated an 'equal weight' rating with a price target of $61.00, while Deutsche Bank maintains a 'buy' rating with a price target set at $67.00. With ten analysts rating it as a hold and eighteen as a buy, Chipotle currently holds a consensus rating of 'Moderate Buy' with a target price of $63.03.

Current Stock Performance

As of the latest market updates, Chipotle shares opened at $59.39, bringing its market capitalization to $81.56 billion. The stock has seen a price-to-earnings ratio of 63.18 and a price-to-earnings-growth ratio of 2.41. Over the last year, Chipotle's stock has traded between a low of $35.97 and a high of $69.26. The company's recent earnings result was released on July 24th, where it reported an earnings per share (EPS) of $0.34, surpassing the estimates by $0.02. Chipotle’s revenue for the quarter was $2.97 billion, showcasing a year-over-year growth of 18.2%.

Chipotle Mexican Grill, Inc. operates its restaurants, providing a menu that includes burritos, taco bowls, quesadillas, and salads, along with a delivery option through its app and website. It also operates in several countries besides the U.S., including Canada, France, Germany, and the UK.

Chipotle, Investment, Shares