Avity Investment Management Inc. Sells 437,424 Shares of Chipotle Mexican Grill, Inc. $CMG

Key Points

• Avity Investment Management Inc. significantly reduced its stake in Chipotle Mexican Grill by 93.8%, selling 437,424 shares, and now holds only 28,975 shares valued at approximately $1.63 million.
• Multiple institutional investors, including Revolve Wealth Partners LLC and Bank Pictet & Cie Europe AG, have either increased their stakes in Chipotle or acquired new investments, demonstrating continued institutional interest in the company.
• Analysts have recently revised price targets for Chipotle shares, with estimates ranging from $46.00 to $60.00, reflecting varied market sentiment and a consensus rating of "Moderate Buy."

Avity Investment Management Inc. reduced its stake in Chipotle Mexican Grill, Inc. (NYSE:CMG - Free Report) by 93.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,975 shares of the restaurant operator's stock after selling 437,424 shares during the quarter. Avity Investment Management Inc.'s holdings in Chipotle Mexican Grill were worth $1,627,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in CMG. Revolve Wealth Partners LLC lifted its position in Chipotle Mexican Grill by 4.7% in the 4th quarter. Revolve Wealth Partners LLC now owns 4,804 shares of the restaurant operator's stock valued at $290,000 after acquiring an additional 214 shares in the last quarter. Bank Pictet & Cie Europe AG increased its stake in Chipotle Mexican Grill by 22.5% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 1,518,593 shares of the restaurant operator's stock valued at $91,571,000 after buying an additional 279,267 shares during the last quarter. Bison Wealth LLC acquired a new stake in Chipotle Mexican Grill in the 4th quarter valued at $224,000. Rafferty Asset Management LLC increased its stake in Chipotle Mexican Grill by 12.4% in the 4th quarter. Rafferty Asset Management LLC now owns 126,681 shares of the restaurant operator's stock valued at $7,639,000 after buying an additional 13,934 shares during the last quarter. Finally, Silvercrest Asset Management Group LLC increased its stake in Chipotle Mexican Grill by 8.2% in the 4th quarter. Silvercrest Asset Management Group LLC now owns 70,031 shares of the restaurant operator's stock valued at $4,223,000 after buying an additional 5,313 shares during the last quarter. 91.30% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have issued reports on CMG shares. JPMorgan Chase & Co. lowered their price target on shares of Chipotle Mexican Grill from $58.00 to $54.00 and set a "neutral" rating on the stock in a research note on Thursday, May 29th. KeyCorp lowered their price target on shares of Chipotle Mexican Grill from $60.00 to $58.00 and set an "overweight" rating on the stock in a research note on Thursday, July 24th. Stifel Nicolaus lowered their price target on shares of Chipotle Mexican Grill from $65.00 to $60.00 and set a "buy" rating on the stock in a research note on Tuesday, September 9th. Guggenheim lowered their price target on shares of Chipotle Mexican Grill from $47.00 to $46.00 and set a "neutral" rating on the stock in a research note on Friday, July 25th. Finally, Barclays lowered their price target on shares of Chipotle Mexican Grill from $55.00 to $53.00 and set an "equal weight" rating on the stock in a research note on Thursday, July 24th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $59.76.

Chipotle Mexican Grill Price Performance

Chipotle Mexican Grill stock opened at $38.65 on Monday. The firm has a market capitalization of $51.83 billion, a PE ratio of 34.51, a P/E/G ratio of 1.97 and a beta of 1.02. The company's 50-day moving average is $45.54 and its 200-day moving average is $49.08. Chipotle Mexican Grill, Inc. has a fifty-two week low of $38.30 and a fifty-two week high of $66.74.

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The restaurant operator reported $0.33 earnings per share for the quarter, topping 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%. Chipotle Mexican Grill's revenue for the quarter was up 3.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.34 EPS. As a group, analysts expect that Chipotle Mexican Grill, Inc. will post 1.29 EPS for the current year.

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.

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