Empower Advisory Group LLC Trims Stake in Chipotle Mexican Grill, Inc. (NYSE:CMG)

Key Points

• Empower Advisory Group LLC reduced its stake in Chipotle Mexican Grill by 3.1%, now owning approximately 1.62 million shares valued at $81.56 million.
• Institutional investors own 91.31% of Chipotle's stock, with notable recent increases in holdings from Cary Street Partners and New Age Alpha Advisors.
• Analysts have given Chipotle a consensus rating of "Moderate Buy" with a price target of around $60.71, while the stock recently opened at $42.85.

Empower Advisory Group LLC reduced its holdings in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG - Free Report) by 3.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,624,389 shares of the restaurant operator's stock after selling 52,331 shares during the period. Empower Advisory Group LLC owned about 0.12% of Chipotle Mexican Grill worth $81,561,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Cary Street Partners Financial LLC increased its holdings in Chipotle Mexican Grill by 20.2% during the first quarter. Cary Street Partners Financial LLC now owns 36,576 shares of the restaurant operator's stock valued at $1,836,000 after buying an additional 6,156 shares during the last quarter. New Age Alpha Advisors LLC boosted its position in shares of Chipotle Mexican Grill by 87,160.4% in the first quarter. New Age Alpha Advisors LLC now owns 96,859 shares of the restaurant operator's stock worth $4,863,000 after purchasing an additional 96,748 shares during the period. Strategic Investment Solutions Inc. IL boosted its position in shares of Chipotle Mexican Grill by 1,798.7% in the first quarter. Strategic Investment Solutions Inc. IL now owns 1,500 shares of the restaurant operator's stock worth $75,000 after purchasing an additional 1,421 shares during the period. Credit Capital Investments LLC bought a new position in shares of Chipotle Mexican Grill in the first quarter worth approximately $281,000. Finally, Earned Wealth Advisors LLC bought a new position in shares of Chipotle Mexican Grill in the first quarter worth approximately $230,000. 91.31% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on CMG shares. BMO Capital Markets upgraded shares of Chipotle Mexican Grill from a "market perform" rating to an "outperform" rating and upped their price target for the stock from $56.00 to $65.00 in a research report on Friday, July 18th. KeyCorp dropped their price target on shares of Chipotle Mexican Grill from $60.00 to $58.00 and set an "overweight" rating for the company in a research report on Thursday, July 24th. Truist Financial dropped their price target on shares of Chipotle Mexican Grill from $64.00 to $60.00 and set a "buy" rating for the company in a research report on Friday, July 25th. Evercore ISI dropped their price target on shares of Chipotle Mexican Grill from $64.00 to $57.00 and set an "outperform" rating for the company in a research report on Thursday, April 24th. Finally, Royal Bank Of Canada dropped their price target on shares of Chipotle Mexican Grill from $65.00 to $60.00 and set an "outperform" rating for the company in a research report on Thursday, April 24th. Nine equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $60.71.

Chipotle Mexican Grill Stock Up 0.8%

CMG stock opened at $42.85 on Tuesday. Chipotle Mexican Grill, Inc. has a 52 week low of $42.25 and a 52 week high of $66.74. The company has a fifty day simple moving average of $51.84 and a two-hundred day simple moving average of $51.98. The firm has a market capitalization of $57.46 billion, a P/E ratio of 38.26, a price-to-earnings-growth ratio of 2.16 and a beta of 1.05.

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The restaurant operator reported $0.33 EPS for the quarter, beating the consensus estimate of $0.32 by $0.01. Chipotle Mexican Grill had a net margin of 13.32% and a return on equity of 43.50%. The business had revenue of $3.06 billion during the quarter, compared to analyst estimates of $3.11 billion. During the same quarter last year, the business earned $0.34 earnings per share. Chipotle Mexican Grill's quarterly revenue was up 3.0% compared to the same quarter last year. As a group, analysts anticipate that Chipotle Mexican Grill, Inc. will post 1.29 EPS for the current year.

Insider Activity

In other news, insider Roger E. Theodoredis sold 113,875 shares of the firm's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $49.70, for a total value of $5,659,587.50. Following the completion of the sale, the insider owned 109,815 shares in the company, valued at approximately $5,457,805.50. This trade represents a 50.91% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.02% of the company's stock.

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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