Chipotle Mexican Grill, Inc. $CMG Shares Sold by Argus Investors Counsel Inc.

Argus Investors Counsel Inc. trimmed its position in Chipotle Mexican Grill, Inc. (NYSE:CMG) by 26.5% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,761 shares of the restaurant operator’s stock after selling 2,082 shares during the period. Argus Investors Counsel Inc.’s holdings in Chipotle Mexican Grill were worth $323,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Cloud Capital Management LLC acquired a new position in Chipotle Mexican Grill during the 1st quarter worth $25,000. Saudi Central Bank bought a new stake in shares of Chipotle Mexican Grill during the 1st quarter valued at approximately $27,000. 1248 Management LLC bought a new stake in shares of Chipotle Mexican Grill in the 1st quarter valued at $27,000. Signature Resources Capital Management LLC purchased a new stake in shares of Chipotle Mexican Grill in the second quarter valued at about $28,000. Finally, HighMark Wealth Management LLC lifted its holdings in shares of Chipotle Mexican Grill by 173.4% in the first 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. Institutional investors own 91.30% of the company’s stock.

Chipotle Mexican Grill Stock Performance

Shares of NYSE:CMG opened at $40.06 on Friday. Chipotle Mexican Grill, Inc. has a 52 week low of $38.30 and a 52 week high of $66.74. The firm has a market cap of $53.72 billion, a PE ratio of 35.77, a price-to-earnings-growth ratio of 2.04 and a beta of 1.02. The firm’s fifty day moving average is $42.47 and its 200-day moving average is $48.24.

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

Analyst Upgrades and Downgrades

CMG has been the subject of several research reports. Robert W. Baird reduced their price target on shares of Chipotle Mexican Grill from $62.00 to $59.00 and set an “outperform” rating for the company in a research report on Thursday, July 24th. KeyCorp dropped their price target on Chipotle Mexican Grill from $60.00 to $58.00 and set an “overweight” rating for the company in a research report on Thursday, July 24th. Rothschild Redb raised Chipotle Mexican Grill from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, September 3rd. BTIG Research reissued a “buy” rating and issued a $57.00 target price on shares of Chipotle Mexican Grill in a report on Friday, September 5th. Finally, Stephens restated an “equal weight” rating and set a $60.00 price target on shares of Chipotle Mexican Grill in a research note on Thursday, September 11th. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $59.76.

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.