Chipotle Mexican Grill, Inc. $CMG Shares Sold by Spirit of America Management Corp NY

Key Points

• Spirit of America Management Corp NY reduced its stake in Chipotle Mexican Grill by 22.2%, selling 12,500 shares in the second quarter, leaving it with a total of 43,700 shares valued at approximately $2.45 million.
• Chipotle Mexican Grill recently reported $0.33 earnings per share, beating estimates by $0.01, but fell short on revenue with $3.06 billion compared to the anticipated $3.11 billion.
• Analysts have varying outlooks on CMG stock, with Barclays lowering its target to $53.00 while UBS raised it to $65.00, resulting in a consensus rating of "Moderate Buy" and a target price of $57.55.

Spirit of America Management Corp NY trimmed its stake in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG - Free Report) by 22.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 43,700 shares of the restaurant operator's stock after selling 12,500 shares during the period. Spirit of America Management Corp NY's holdings in Chipotle Mexican Grill were worth $2,454,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CMG. Revolve Wealth Partners LLC grew its holdings in Chipotle Mexican Grill by 4.7% during the fourth quarter. Revolve Wealth Partners LLC now owns 4,804 shares of the restaurant operator's stock worth $290,000 after acquiring an additional 214 shares during the period. Bison Wealth LLC acquired a new stake in Chipotle Mexican Grill during the fourth quarter worth about $224,000. Wealth Enhancement Advisory Services LLC grew its holdings in Chipotle Mexican Grill by 13.8% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 373,432 shares of the restaurant operator's stock worth $18,750,000 after acquiring an additional 45,296 shares during the period. Ritholtz Wealth Management grew its holdings in Chipotle Mexican Grill by 20.1% during the first quarter. Ritholtz Wealth Management now owns 9,934 shares of the restaurant operator's stock worth $499,000 after acquiring an additional 1,660 shares during the period. Finally, Exchange Traded Concepts LLC grew its holdings in Chipotle Mexican Grill by 38.9% in the first quarter. Exchange Traded Concepts LLC now owns 13,176 shares of the restaurant operator's stock valued at $662,000 after purchasing an additional 3,689 shares during the period. 91.30% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have commented on CMG. Barclays dropped their price objective on Chipotle Mexican Grill from $55.00 to $53.00 and set an "equal weight" rating on the stock in a report on Thursday, July 24th. Rothschild & Co Redburn raised Chipotle Mexican Grill from a "neutral" rating to a "buy" rating and set a $55.00 price objective on the stock in a report on Wednesday, September 3rd. UBS Group raised their price objective on Chipotle Mexican Grill from $60.00 to $65.00 and gave the company a "buy" rating in a report on Thursday, July 17th. TD Cowen reissued a "buy" rating and issued a $58.00 price objective on shares of Chipotle Mexican Grill in a report on Friday, September 19th. Finally, Morgan Stanley dropped their price objective on Chipotle Mexican Grill from $65.00 to $59.00 and set an "overweight" rating on the stock in a report on Wednesday. Two analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $57.55.

Chipotle Mexican Grill Price Performance

NYSE CMG opened at $41.93 on Friday. The company has a market cap of $56.22 billion, a PE ratio of 37.43, a price-to-earnings-growth ratio of 2.52 and a beta of 0.99. The stock's 50 day simple moving average is $41.11 and its 200-day simple moving average is $47.35. Chipotle Mexican Grill, Inc. has a 1-year low of $38.30 and a 1-year high of $66.74.

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) last released its earnings results on Wednesday, July 23rd. The restaurant operator reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.01. The business had revenue of $3.06 billion for 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 quarterly revenue was up 3.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.34 earnings per share. On average, equities research analysts anticipate that Chipotle Mexican Grill, Inc. will post 1.29 EPS for the current fiscal 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.

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