Cresset Asset Management LLC Sells 6,073 Shares of Chipotle Mexican Grill, Inc. $CMG

Cresset Asset Management LLC cut its position in Chipotle Mexican Grill, Inc. (NYSE:CMG) by 18.5% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 26,730 shares of the restaurant operator’s stock after selling 6,073 shares during the quarter. Cresset Asset Management LLC’s holdings in Chipotle Mexican Grill were worth $1,342,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Cloud Capital Management LLC bought a new position in Chipotle Mexican Grill in the first quarter worth about $25,000. HighMark Wealth Management LLC increased its holdings in shares of Chipotle Mexican Grill by 173.4% during the first quarter. HighMark Wealth Management LLC now owns 585 shares of the restaurant operator’s stock valued at $29,000 after acquiring an additional 371 shares in the last quarter. North Capital Inc. acquired a new position in shares of Chipotle Mexican Grill during the first quarter valued at about $30,000. ORG Wealth Partners LLC acquired a new position in shares of Chipotle Mexican Grill during the first quarter valued at about $31,000. Finally, Mechanics Financial Corp acquired a new position in shares of Chipotle Mexican Grill during the first quarter valued at about $38,000. 91.30% of the stock is currently owned by institutional investors.

Chipotle Mexican Grill Stock Down 0.4%

Shares of NYSE CMG opened at $43.0860 on Thursday. Chipotle Mexican Grill, Inc. has a 52 week low of $41.18 and a 52 week high of $66.74. The business’s 50 day moving average price is $49.89 and its 200 day moving average price is $50.84. The firm has a market cap of $57.77 billion, a P/E ratio of 38.47, a P/E/G ratio of 2.20 and a beta of 1.05.

Chipotle Mexican Grill (NYSE:CMG) last released its quarterly earnings data 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 for the quarter, compared to analyst estimates of $3.11 billion. During the same quarter in the prior year, the firm posted $0.34 EPS. The business’s quarterly revenue was up 3.0% compared to the same quarter last year. As a group, research analysts expect that Chipotle Mexican Grill, Inc. will post 1.29 earnings per share for the current year.

Insider Buying and Selling

In other Chipotle Mexican Grill news, insider Roger E. Theodoredis sold 113,875 shares of the company’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 sale, the insider owned 109,815 shares in the company, valued at approximately $5,457,805.50. This represents a 50.91% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.81% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Argus downgraded shares of Chipotle Mexican Grill from a “buy” rating to a “hold” rating in a report on Monday, April 28th. Wells Fargo & Company cut their price objective on shares of Chipotle Mexican Grill from $65.00 to $60.00 and set an “overweight” rating on the stock in a report on Thursday, July 24th. Raymond James Financial cut their price objective on shares of Chipotle Mexican Grill from $60.00 to $56.00 and set an “outperform” rating on the stock in a report on Friday, August 15th. Barclays cut their price objective on shares of Chipotle Mexican Grill from $55.00 to $53.00 and set an “equal weight” rating on the stock in a report on Thursday, July 24th. Finally, Morgan Stanley cut their price objective on shares of Chipotle Mexican Grill from $67.00 to $65.00 and set an “overweight” rating on the stock in a report on Thursday, April 24th. One research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $60.22.

Chipotle Mexican Grill Company 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.