Chipotle Mexican Grill, Inc. (NYSE:CMG) Stake Reduced by Summit X LLC

Summit X LLC reduced its stake in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG) by 33.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,618 shares of the restaurant operator’s stock after selling 14,937 shares during the quarter. Summit X LLC’s holdings in Chipotle Mexican Grill were worth $1,487,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Cloud Capital Management LLC bought a new position in Chipotle Mexican Grill during the 1st quarter worth $25,000. HighMark Wealth Management LLC boosted its position in Chipotle Mexican Grill by 173.4% during the 1st quarter. HighMark Wealth Management LLC now owns 585 shares of the restaurant operator’s stock worth $29,000 after acquiring an additional 371 shares during the period. North Capital Inc. acquired a new position in Chipotle Mexican Grill during the 1st quarter worth $30,000. ORG Wealth Partners LLC acquired a new position in Chipotle Mexican Grill during the 1st quarter worth $31,000. Finally, Murphy & Mullick Capital Management Corp acquired a new position in Chipotle Mexican Grill during the 4th quarter worth $38,000. 91.31% of the stock is currently owned by institutional investors.

Chipotle Mexican Grill Stock Down 1.5%

CMG opened at $53.99 on Wednesday. The firm has a market capitalization of $72.75 billion, a P/E ratio of 47.78, a price-to-earnings-growth ratio of 2.72 and a beta of 1.08. The stock’s 50 day moving average price is $52.75 and its two-hundred day moving average price is $53.03. Chipotle Mexican Grill, Inc. has a 12-month low of $44.46 and a 12-month high of $66.74.

Chipotle Mexican Grill (NYSE:CMG) last released its earnings results on Wednesday, April 23rd. The restaurant operator reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.01. The firm had revenue of $2.88 billion for the quarter, compared to analyst estimates of $2.98 billion. Chipotle Mexican Grill had a return on equity of 43.29% and a net margin of 13.59%. The company’s revenue was up 6.4% on a year-over-year basis. During the same quarter last year, the firm posted $13.37 EPS. As a group, analysts anticipate that Chipotle Mexican Grill, Inc. will post 1.29 earnings per share for the current year.

Wall Street Analysts Forecast Growth

CMG has been the subject of a number of analyst reports. Evercore ISI reduced their price target on Chipotle Mexican Grill from $64.00 to $57.00 and set an “outperform” rating for the company in a research report on Thursday, April 24th. Melius began coverage on Chipotle Mexican Grill in a report on Monday. They issued a “hold” rating and a $60.00 price objective for the company. Morgan Stanley cut their price objective on Chipotle Mexican Grill from $67.00 to $65.00 and set an “overweight” rating for the company in a report on Thursday, April 24th. Redburn Atlantic assumed coverage on Chipotle Mexican Grill in a report on Tuesday, June 10th. They issued a “neutral” rating and a $55.00 price objective for the company. Finally, TD Securities reiterated a “buy” rating and issued a $57.00 target price on shares of Chipotle Mexican Grill in a report on Wednesday, June 18th. Ten equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Chipotle Mexican Grill has an average rating of “Moderate Buy” and a consensus price target of $61.28.

Insider Activity at Chipotle Mexican Grill

In other Chipotle Mexican Grill news, insider Roger E. Theodoredis sold 113,875 shares of the firm’s stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $49.70, for a total value of $5,659,587.50. Following the completion of the sale, the insider owned 109,815 shares in the company, valued at approximately $5,457,805.50. This trade represents a 50.91% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.02% of the company’s stock.

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.