Cullen Investment Group LTD. Increases Stock Holdings in Chipotle Mexican Grill, Inc. $CMG

Key Points

• Cullen Investment Group LTD. increased its stake in Chipotle Mexican Grill by 31.0%, reaching a total of 30,231 shares valued at approximately $1.7 million as of the latest quarter.
• The stock's consensus rating is "Moderate Buy" with a target price of $59.76, with various analysts recently adjusting their price objectives.
• Chipotle reported quarterly earnings of $0.33 EPS on revenue of $3.06 billion, slightly below analyst estimates, with a year-over-year revenue increase of 3.0%.

Cullen Investment Group LTD. lifted its stake in Chipotle Mexican Grill, Inc. (NYSE:CMG - Free Report) by 31.0% in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 30,231 shares of the restaurant operator's stock after purchasing an additional 7,150 shares during the quarter. Cullen Investment Group LTD.'s holdings in Chipotle Mexican Grill were worth $1,697,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of CMG. Cloud Capital Management LLC purchased a new position in Chipotle Mexican Grill during the 1st quarter valued at $25,000. Saudi Central Bank purchased a new position in Chipotle Mexican Grill during the 1st quarter valued at $27,000. 1248 Management LLC purchased a new position in Chipotle Mexican Grill during the 1st quarter valued at $27,000. HighMark Wealth Management LLC boosted its holdings in Chipotle Mexican Grill by 173.4% during the 1st 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, North Capital Inc. purchased a new position in Chipotle Mexican Grill during the 1st quarter valued at $30,000. Hedge funds and other institutional investors own 91.30% of the company's stock.

Analyst Upgrades and Downgrades

CMG has been the subject of a number of recent analyst reports. Citigroup dropped their price objective on Chipotle Mexican Grill from $68.00 to $62.00 and set a "buy" rating for the company in a report on Thursday, July 24th. UBS Group boosted 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. Guggenheim dropped their price objective on Chipotle Mexican Grill from $47.00 to $46.00 and set a "neutral" rating for the company in a report on Friday, July 25th. Redburn Atlantic initiated coverage on Chipotle Mexican Grill in a research report on Tuesday, June 10th. They set a "neutral" rating and a $55.00 target price for the company. Finally, BTIG Research reaffirmed a "buy" rating and set a $57.00 target price on shares of Chipotle Mexican Grill in a research report on Friday, September 5th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $59.76.

Chipotle Mexican Grill Stock Down 0.8%

Shares of NYSE CMG opened at $38.65 on Friday. The firm has a market cap of $51.83 billion, a PE ratio of 34.51, a price-to-earnings-growth ratio of 1.98 and a beta of 1.02. Chipotle Mexican Grill, Inc. has a twelve month low of $38.30 and a twelve month high of $66.74. The business has a fifty day simple moving average of $45.54 and a two-hundred day simple moving average of $49.13.

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) last released its quarterly 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 analyst estimates 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 for the quarter was up 3.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.34 EPS. On average, research analysts expect that Chipotle Mexican Grill, Inc. will post 1.29 earnings per share for the current year.

About Chipotle Mexican Grill

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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