Chipotle Mexican Grill, Inc. $CMG Stock Holdings Cut by Conning Inc.

Conning Inc. lowered its position in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG) by 4.0% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,938 shares of the restaurant operator’s stock after selling 374 shares during the quarter. Conning Inc.’s holdings in Chipotle Mexican Grill were worth $502,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. grew its position in Chipotle Mexican Grill by 5.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 8,979,637 shares of the restaurant operator’s stock worth $450,868,000 after buying an additional 491,002 shares during the last quarter. Corient IA LLC purchased a new stake in shares of Chipotle Mexican Grill during the first quarter valued at $753,000. Advisors Asset Management Inc. boosted its stake in Chipotle Mexican Grill by 32.4% in the 1st quarter. Advisors Asset Management Inc. now owns 75,368 shares of the restaurant operator’s stock worth $3,784,000 after purchasing an additional 18,458 shares during the period. Hilltop National Bank purchased a new stake in shares of Chipotle Mexican Grill in the second quarter valued at $2,579,000. Finally, Banco Santander S.A. grew its holdings in shares of Chipotle Mexican Grill by 47.6% during the first quarter. Banco Santander S.A. now owns 31,764 shares of the restaurant operator’s stock valued at $1,595,000 after buying an additional 10,246 shares in the last quarter. 91.30% of the stock is owned by institutional investors and hedge funds.

Chipotle Mexican Grill Price Performance

Shares of CMG opened at $39.86 on Friday. Chipotle Mexican Grill, Inc. has a one year low of $38.30 and a one year high of $66.74. The company’s fifty day moving average price is $41.18 and its 200 day moving average price is $47.63. The company has a market capitalization of $53.45 billion, a PE ratio of 35.59, a price-to-earnings-growth ratio of 2.03 and a beta of 0.99.

Chipotle Mexican Grill (NYSE:CMG) last released its earnings results on Wednesday, July 23rd. The restaurant operator reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $3.06 billion for the quarter, compared to analyst estimates of $3.11 billion. During the same quarter last year, the firm posted $0.34 EPS. The company’s revenue was up 3.0% on a year-over-year basis. Analysts anticipate that Chipotle Mexican Grill, Inc. will post 1.29 earnings per share for the current year.

Analyst Upgrades and Downgrades

CMG has been the subject of a number of research reports. UBS Group raised their price objective on Chipotle Mexican Grill from $60.00 to $65.00 and gave the stock a “buy” rating in a research report on Thursday, July 17th. TD Securities restated a “buy” rating and set a $57.00 price target on shares of Chipotle Mexican Grill in a report on Wednesday, June 18th. Truist Financial cut their price objective on Chipotle Mexican Grill from $64.00 to $60.00 and set a “buy” rating for the company in a report on Friday, July 25th. Robert W. Baird reduced their price objective on Chipotle Mexican Grill from $59.00 to $49.00 and set an “outperform” rating for the company in a research report on Friday. Finally, Evercore ISI lowered their price target on Chipotle Mexican Grill from $57.00 to $53.00 and set an “outperform” rating for the company in a research note on Tuesday, October 7th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $58.93.

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.