United Asset Strategies Inc. Takes Position in Chipotle Mexican Grill, Inc. $CMG

United Asset Strategies Inc. bought a new position in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG) during the second quarter, HoldingsChannel reports. The firm bought 18,730 shares of the restaurant operator’s stock, valued at approximately $1,052,000.

A number of other hedge funds also recently modified their holdings of CMG. Signature Resources Capital Management LLC acquired a new position in shares of Chipotle Mexican Grill in the second quarter valued at $28,000. Activest Wealth Management raised its position in Chipotle Mexican Grill by 109.3% in the second quarter. Activest Wealth Management now owns 517 shares of the restaurant operator’s stock worth $29,000 after purchasing an additional 270 shares in the last quarter. Oliver Lagore Vanvalin Investment Group bought a new position in Chipotle Mexican Grill during the second quarter worth about $29,000. 1248 Management LLC acquired a new stake in Chipotle Mexican Grill during the first quarter valued at approximately $27,000. Finally, Saudi Central Bank bought a new stake in shares of Chipotle Mexican Grill in the 1st quarter valued at approximately $27,000. Institutional investors own 91.30% of the company’s stock.

Chipotle Mexican Grill Trading Up 5.0%

Shares of CMG stock opened at $31.30 on Thursday. Chipotle Mexican Grill, Inc. has a 1 year low of $29.75 and a 1 year high of $66.74. The firm’s 50 day moving average is $38.56 and its 200-day moving average is $45.67. The firm has a market capitalization of $41.39 billion, a price-to-earnings ratio of 27.70, a PEG ratio of 2.65 and a beta of 0.98.

Chipotle Mexican Grill (NYSE:CMG) last posted its quarterly earnings data on Wednesday, October 29th. The restaurant operator reported $0.29 earnings per share for the quarter, hitting the consensus estimate of $0.29. Chipotle Mexican Grill had a net margin of 13.04% and a return on equity of 44.32%. The firm had revenue of $3 billion during the quarter, compared to analysts’ expectations of $3.06 billion. During the same quarter in the previous year, the company posted $0.27 EPS. Chipotle Mexican Grill’s revenue was up 7.5% on a year-over-year basis. On average, equities research analysts forecast that Chipotle Mexican Grill, Inc. will post 1.29 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

CMG has been the subject of several analyst reports. Barclays cut their target price on Chipotle Mexican Grill from $43.00 to $38.00 and set an “equal weight” rating for the company in a research report on Thursday, October 30th. BMO Capital Markets reiterated an “outperform” rating on shares of Chipotle Mexican Grill in a research note on Thursday, October 30th. Raymond James Financial reissued an “outperform” rating and set a $40.00 price objective (down from $52.00) on shares of Chipotle Mexican Grill in a report on Thursday, October 30th. Piper Sandler upgraded shares of Chipotle Mexican Grill from a “neutral” rating to an “overweight” rating and dropped their target price for the stock from $53.00 to $50.00 in a research report on Tuesday, August 12th. Finally, The Goldman Sachs Group reissued a “buy” rating and set a $45.00 price target (down from $52.00) on shares of Chipotle Mexican Grill in a report on Thursday, October 30th. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $49.81.

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.