Ameriprise Financial Inc. Trims Holdings in Chipotle Mexican Grill, Inc. $CMG

Key Points

• Ameriprise Financial Inc. reduced its stake in Chipotle Mexican Grill by 10.7%, owning approximately 3.29 million shares worth $165.5 million after selling almost 395,000 shares in the first quarter.
• Chipotle's stock recently reported a 1.6% increase, with a current market cap of $58.44 billion and a price-to-earnings ratio of 38.91.
• The company beat quarterly earnings estimates with earnings per share of $0.33, while revenue of $3.06 billion fell slightly short of analyst expectations of $3.11 billion.

Ameriprise Financial Inc. reduced its stake in Chipotle Mexican Grill, Inc. (NYSE:CMG - Free Report) by 10.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,292,835 shares of the restaurant operator's stock after selling 394,723 shares during the period. Ameriprise Financial Inc. owned 0.24% of Chipotle Mexican Grill worth $165,528,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in CMG. Cloud Capital Management LLC purchased a new position in Chipotle Mexican Grill in the first quarter valued at approximately $25,000. HighMark Wealth Management LLC increased its stake in Chipotle Mexican Grill by 173.4% in the first quarter. HighMark Wealth Management LLC now owns 585 shares of the restaurant operator's stock valued at $29,000 after purchasing an additional 371 shares during the last quarter. North Capital Inc. purchased a new position in shares of Chipotle Mexican Grill during the first quarter worth approximately $30,000. ORG Wealth Partners LLC purchased a new position in shares of Chipotle Mexican Grill during the first quarter worth approximately $31,000. Finally, Mechanics Financial Corp purchased a new position in shares of Chipotle Mexican Grill during the first quarter worth approximately $38,000. 91.30% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Truist Financial lowered their target price on shares of Chipotle Mexican Grill from $64.00 to $60.00 and set a "buy" rating on the stock in a research report on Friday, July 25th. BMO Capital Markets upgraded shares of Chipotle Mexican Grill from a "market perform" rating to an "outperform" rating and raised their target price for the stock from $56.00 to $65.00 in a research report on Friday, July 18th. Wells Fargo & Company lowered their target price on shares of Chipotle Mexican Grill from $65.00 to $60.00 and set an "overweight" rating on the stock in a research report on Thursday, July 24th. Stephens reaffirmed an "equal weight" rating and set a $60.00 price target on shares of Chipotle Mexican Grill in a report on Thursday, July 24th. Finally, Melius initiated coverage on Chipotle Mexican Grill in a report on Monday, July 14th. They set a "hold" rating and a $60.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and eight have given a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $60.22.

Chipotle Mexican Grill Trading Up 0.3%

Shares of NYSE:CMG traded up $0.14 during midday trading on Wednesday, hitting $42.66. 8,479,200 shares of the stock were exchanged, compared to its average volume of 14,173,376. The stock has a market cap of $57.21 billion, a P/E ratio of 38.11, a PEG ratio of 2.17 and a beta of 1.05. Chipotle Mexican Grill, Inc. has a twelve month low of $41.18 and a twelve month high of $66.74. The company has a 50 day moving average price of $49.23 and a 200-day moving average price of $50.37.

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 (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.01. The business had revenue of $3.06 billion during the quarter, compared to the consensus estimate of $3.11 billion. Chipotle Mexican Grill had a return on equity of 43.50% and a net margin of 13.32%.The business's revenue was up 3.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.34 EPS. On average, equities research analysts expect that Chipotle Mexican Grill, Inc. will post 1.29 earnings per share for the current year.

Insider Activity

In other news, insider Roger E. Theodoredis sold 113,875 shares of Chipotle Mexican Grill stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $49.70, for a total transaction of $5,659,587.50. Following the completion of the transaction, the insider owned 109,815 shares of the company's stock, valued at $5,457,805.50. The trade was a 50.91% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 1.02% of the stock is owned by company insiders.

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.