Avanza Fonder AB Has $5.14 Million Holdings in Chipotle Mexican Grill, Inc. $CMG

Key Points

• Avanza Fonder AB increased its stake in Chipotle Mexican Grill by 9.8% in Q2, owning a total of 91,453 shares worth approximately $5.14 million.
• Chipotle reported Q2 earnings of $0.33 EPS, slightly exceeding forecasts, with revenues of $3.06 billion, showing a 3.0% year-over-year increase.
• Chipotle shares experienced a 1.3% decline, with a current stock price of $39.30 and major analysts maintaining a consensus rating of "Moderate Buy".

Avanza Fonder AB boosted its stake in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG - Free Report) by 9.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 91,453 shares of the restaurant operator's stock after purchasing an additional 8,145 shares during the quarter. Avanza Fonder AB's holdings in Chipotle Mexican Grill were worth $5,135,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the stock. Cloud Capital Management LLC bought a new position in shares of Chipotle Mexican Grill during the 1st quarter worth about $25,000. Saudi Central Bank bought a new stake in shares of Chipotle Mexican Grill in the first quarter valued at about $27,000. 1248 Management LLC acquired a new stake in Chipotle Mexican Grill during the first quarter worth about $27,000. HighMark Wealth Management LLC increased its stake in 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 during the period. Finally, Oliver Lagore Vanvalin Investment Group acquired a new position in Chipotle Mexican Grill in the 2nd quarter valued at approximately $29,000. 91.30% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on CMG shares. Rothschild & Co Redburn upgraded Chipotle Mexican Grill from a "neutral" rating to a "buy" rating and set a $55.00 price objective on the stock in a research report on Wednesday, September 3rd. Raymond James Financial cut their target price on Chipotle Mexican Grill from $60.00 to $56.00 and set an "outperform" rating for the company in a research report on Friday, August 15th. Redburn Atlantic began coverage on Chipotle Mexican Grill in a research note on Tuesday, June 10th. They issued a "neutral" rating and a $55.00 price target on the stock. Wells Fargo & Company decreased their price target on Chipotle Mexican Grill from $65.00 to $60.00 and set an "overweight" rating on the stock in a research note on Thursday, July 24th. Finally, Truist Financial decreased their price target on Chipotle Mexican Grill from $64.00 to $60.00 and set a "buy" rating on the stock in a research note on Friday, July 25th. Two research 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 stock. According to data from MarketBeat, Chipotle Mexican Grill has an average rating of "Moderate Buy" and an average price target of $59.76.

Chipotle Mexican Grill Stock Up 2.2%

CMG stock traded up $0.88 during midday trading on Monday, reaching $40.20. 27,372,784 shares of the company's stock traded hands, compared to its average volume of 14,970,518. The company has a 50-day simple moving average of $43.88 and a two-hundred day simple moving average of $48.59. Chipotle Mexican Grill, Inc. has a 1-year low of $38.30 and a 1-year high of $66.74. The company has a market cap of $53.90 billion, a price-to-earnings ratio of 35.89, a PEG ratio of 2.00 and a beta of 1.02.

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The restaurant operator reported $0.33 earnings per share 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 during the quarter, compared to analysts' expectations of $3.11 billion. During the same period last year, the firm posted $0.34 EPS. The business's revenue was up 3.0% on a year-over-year basis. Equities research analysts forecast that Chipotle Mexican Grill, Inc. will post 1.29 EPS for the current year.

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.