Chipotle Mexican Grill, Inc. $CMG Shares Sold by Cim LLC

Key Points

• Cim LLC reduced its stake in Chipotle Mexican Grill by 2.2%, owning 426,427 shares valued at $21.41 million after selling 9,459 shares in the first quarter.
• Analysts have adjusted their price targets for Chipotle, with estimates ranging from $56.00 to $61.00, while the average target price is set at $59.76.
• Chipotle reported a quarterly EPS of $0.33, slightly beating expectations, with revenues of $3.06 billion despite a year-over-year increase of only 3%.

Cim LLC trimmed its stake in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG - Free Report) by 2.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 426,427 shares of the restaurant operator's stock after selling 9,459 shares during the period. Chipotle Mexican Grill comprises about 3.2% of Cim LLC's holdings, making the stock its 8th biggest position. Cim LLC's holdings in Chipotle Mexican Grill were worth $21,411,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Revolve Wealth Partners LLC lifted its position in shares of Chipotle Mexican Grill by 4.7% during 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 during the period. Csenge Advisory Group lifted its position in shares of Chipotle Mexican Grill by 5.0% during the 1st quarter. Csenge Advisory Group now owns 4,603 shares of the restaurant operator's stock valued at $222,000 after acquiring an additional 220 shares during the period. Money Concepts Capital Corp lifted its position in shares of Chipotle Mexican Grill by 3.0% during the 1st quarter. Money Concepts Capital Corp now owns 7,491 shares of the restaurant operator's stock valued at $376,000 after acquiring an additional 221 shares during the period. Northwest Bank & Trust Co lifted its position in shares of Chipotle Mexican Grill by 0.5% during the 4th quarter. Northwest Bank & Trust Co now owns 45,324 shares of the restaurant operator's stock valued at $2,788,000 after acquiring an additional 236 shares during the period. Finally, Covestor Ltd lifted its position in shares of Chipotle Mexican Grill by 5.3% during the 1st quarter. Covestor Ltd now owns 4,782 shares of the restaurant operator's stock valued at $240,000 after acquiring an additional 242 shares during the period. 91.30% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the stock. TD Cowen dropped their price objective on shares of Chipotle Mexican Grill from $61.00 to $58.00 and set a "buy" rating for the company in a research note on Wednesday, July 23rd. KeyCorp dropped their price objective on shares of Chipotle Mexican Grill from $60.00 to $58.00 and set an "overweight" rating for the company in a research note on Thursday, July 24th. Raymond James Financial dropped their price objective on shares of Chipotle Mexican Grill from $60.00 to $56.00 and set an "outperform" rating for the company in a research note on Friday, August 15th. Wells Fargo & Company dropped their price objective on shares of Chipotle Mexican Grill from $65.00 to $60.00 and set an "overweight" rating for the company in a research note on Thursday, July 24th. Finally, BTIG Research reissued a "buy" rating and set a $57.00 price objective on shares of Chipotle Mexican Grill in a research note on Friday, September 5th. Two equities 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.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $59.76.

Chipotle Mexican Grill Stock Performance

CMG stock opened at $38.93 on Friday. The stock has a market capitalization of $52.20 billion, a P/E ratio of 34.76, a PEG ratio of 1.97 and a beta of 1.02. Chipotle Mexican Grill, Inc. has a one year low of $38.30 and a one year high of $66.74. The company has a 50 day moving average price of $45.91 and a two-hundred day moving average price of $49.23.

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) last released its earnings results on Wednesday, July 23rd. The restaurant operator reported $0.33 EPS for the quarter, topping the consensus estimate of $0.32 by $0.01. The firm had revenue of $3.06 billion during the quarter, compared to analysts' expectations 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% on a year-over-year basis. During the same period in the previous year, the company earned $0.34 EPS. Research analysts forecast that Chipotle Mexican Grill, Inc. will post 1.29 earnings per share for the current fiscal 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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