Cresset Asset Management LLC Reduces Stock Holdings in Chipotle Mexican Grill, Inc. $CMG

Key Points

• Cresset Asset Management LLC reduced its stake in Chipotle by 18.5%, now holding 26,730 shares worth approximately $1.34 million.
• Chipotle's stock has experienced a 0.4% decline, with a current price of $43.09, amidst analysts lowering price targets.
• Analysts have mixed opinions on Chipotle, with one rating it a Strong Buy while others downgraded their recommendations, resulting in a consensus rating of "Moderate Buy."

Cresset Asset Management LLC reduced its holdings in Chipotle Mexican Grill, Inc. (NYSE:CMG - Free Report) by 18.5% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 26,730 shares of the restaurant operator's stock after selling 6,073 shares during the period. Cresset Asset Management LLC's holdings in Chipotle Mexican Grill were worth $1,342,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Cloud Capital Management LLC purchased a new position in shares of Chipotle Mexican Grill during the 1st quarter worth about $25,000. HighMark Wealth Management LLC boosted its stake in shares of Chipotle Mexican Grill by 173.4% during the 1st quarter. HighMark Wealth Management LLC now owns 585 shares of the restaurant operator's stock worth $29,000 after purchasing an additional 371 shares during the period. North Capital Inc. purchased a new position in shares of Chipotle Mexican Grill during the 1st quarter worth about $30,000. ORG Wealth Partners LLC purchased a new position in shares of Chipotle Mexican Grill during the 1st quarter worth about $31,000. Finally, Mechanics Financial Corp purchased a new position in shares of Chipotle Mexican Grill during the 1st quarter worth about $38,000. 91.30% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Melius initiated coverage on shares of Chipotle Mexican Grill in a research note on Monday, July 14th. They set a "hold" rating and a $60.00 price target for the company. Barclays decreased their price objective on shares of Chipotle Mexican Grill from $55.00 to $53.00 and set an "equal weight" rating for the company in a report on Thursday, July 24th. Argus lowered shares of Chipotle Mexican Grill from a "buy" rating to a "hold" rating in a report on Monday, April 28th. Truist Financial decreased their price objective on shares of Chipotle Mexican Grill from $64.00 to $60.00 and set a "buy" rating for the company in a report on Friday, July 25th. Finally, KeyCorp decreased 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 report on Thursday, July 24th. One analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and eight have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Chipotle Mexican Grill currently has an average rating of "Moderate Buy" and a consensus price target of $60.22.

Insiders Place Their Bets

In other Chipotle Mexican Grill news, insider Roger E. Theodoredis sold 113,875 shares of the business's stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $49.70, for a total transaction of $5,659,587.50. Following the sale, the insider owned 109,815 shares of the company's stock, valued at approximately $5,457,805.50. The trade was a 50.91% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.81% of the company's stock.

Chipotle Mexican Grill Price Performance

NYSE:CMG traded up $0.67 during trading hours on Friday, hitting $43.58. 10,899,653 shares of the company were exchanged, compared to its average volume of 20,471,252. The stock has a market capitalization of $58.44 billion, a price-to-earnings ratio of 38.91, a PEG ratio of 2.18 and a beta of 1.05. Chipotle Mexican Grill, Inc. has a 52-week low of $41.18 and a 52-week high of $66.74. The company's 50 day moving average price is $49.60 and its 200-day moving average price is $50.62.

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, topping the consensus estimate of $0.32 by $0.01. The company had revenue of $3.06 billion for the quarter, compared to the consensus estimate 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 was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.34 EPS. On average, equities analysts predict that Chipotle Mexican Grill, Inc. will post 1.29 earnings per share 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.