Covestor Ltd Buys 242 Shares of Chipotle Mexican Grill, Inc. (NYSE:CMG)

Covestor Ltd boosted its stake in Chipotle Mexican Grill, Inc. (NYSE:CMG) by 5.3% during the 1st quarter, HoldingsChannel.com reports. The fund owned 4,782 shares of the restaurant operator’s stock after acquiring an additional 242 shares during the period. Covestor Ltd’s holdings in Chipotle Mexican Grill were worth $240,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Cloud Capital Management LLC bought a new stake in Chipotle Mexican Grill in the first quarter valued at approximately $25,000. HighMark Wealth Management LLC boosted its holdings in shares of 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 buying an additional 371 shares in the last quarter. North Capital Inc. bought a new position in shares of Chipotle Mexican Grill during the 1st quarter worth approximately $30,000. ORG Wealth Partners LLC bought a new position in shares of Chipotle Mexican Grill during the 1st quarter worth approximately $31,000. Finally, Mascagni Wealth Management Inc. bought a new position in shares of Chipotle Mexican Grill during the 4th quarter worth approximately $45,000. 91.31% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on CMG. BMO Capital Markets upgraded Chipotle Mexican Grill from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $56.00 to $65.00 in a report on Friday, July 18th. Royal Bank Of Canada cut their target price on Chipotle Mexican Grill from $65.00 to $60.00 and set an “outperform” rating on the stock in a report on Thursday, April 24th. Citigroup cut their target price on Chipotle Mexican Grill from $68.00 to $62.00 and set a “buy” rating on the stock in a report on Thursday, July 24th. Piper Sandler increased their target price on Chipotle Mexican Grill from $52.00 to $53.00 and gave the stock a “neutral” rating in a report on Thursday, July 24th. Finally, UBS Group increased their target price on Chipotle Mexican Grill from $60.00 to $65.00 and gave the stock a “buy” rating in a report on Thursday, July 17th. Nine analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $60.71.

Chipotle Mexican Grill Stock Down 2.9%

Shares of NYSE CMG opened at $41.47 on Friday. Chipotle Mexican Grill, Inc. has a 52 week low of $41.43 and a 52 week high of $66.74. The business has a 50-day simple moving average of $51.21 and a two-hundred day simple moving average of $51.64. The company has a market cap of $55.61 billion, a P/E ratio of 37.03, a P/E/G ratio of 2.17 and a beta of 1.05.

Chipotle Mexican Grill (NYSE:CMG) last issued its earnings results on Wednesday, July 23rd. The restaurant operator reported $0.33 EPS for the quarter, topping the consensus estimate of $0.32 by $0.01. Chipotle Mexican Grill had a return on equity of 43.50% and a net margin of 13.32%. The business had revenue of $3.06 billion during the quarter, compared to the consensus estimate of $3.11 billion. During the same quarter last year, the company earned $0.34 EPS. The firm’s revenue was up 3.0% compared to the same quarter last year. Equities research analysts anticipate that Chipotle Mexican Grill, Inc. will post 1.29 EPS for the current year.

Insider Buying and Selling

In other Chipotle Mexican Grill news, insider Roger E. Theodoredis sold 113,875 shares of the firm’s stock in a transaction dated 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 transaction, the insider owned 109,815 shares in the company, valued at $5,457,805.50. This trade represents a 50.91% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.81% of the stock is currently owned by corporate insiders.

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.