Foster Victor Wealth Advisors LLC Grows Stock Holdings in Chipotle Mexican Grill, Inc. $CMG

Key Points

• Foster Victor Wealth Advisors LLC increased its stake in Chipotle Mexican Grill by 5.6%, owning 146,508 shares valued at approximately $8.2 million.
• Several other institutional investors, including Vanguard Group and Price T Rowe Associates, also increased their stakes in Chipotle during the first quarter, demonstrating strong institutional interest in the stock.
• Research analysts maintain a positive outlook on Chipotle, with an average rating of "Moderate Buy" and a consensus price target of $59.76, despite mixed performance on earnings expectations.

Foster Victor Wealth Advisors LLC grew its stake in Chipotle Mexican Grill, Inc. (NYSE:CMG - Free Report) by 5.6% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 146,508 shares of the restaurant operator's stock after purchasing an additional 7,804 shares during the period. Foster Victor Wealth Advisors LLC's holdings in Chipotle Mexican Grill were worth $8,196,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in CMG. Vanguard Group Inc. increased its stake in shares of Chipotle Mexican Grill by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 122,463,327 shares of the restaurant operator's stock worth $6,148,884,000 after acquiring an additional 1,597,287 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in Chipotle Mexican Grill by 7.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 56,827,332 shares of the restaurant operator's stock worth $2,853,302,000 after purchasing an additional 4,027,016 shares during the period. Alliancebernstein L.P. grew its stake in shares of Chipotle Mexican Grill by 8.0% in the 1st quarter. Alliancebernstein L.P. now owns 32,505,318 shares of the restaurant operator's stock valued at $1,632,092,000 after buying an additional 2,404,798 shares during the period. American Century Companies Inc. grew its stake in shares of Chipotle Mexican Grill by 2.1% in the 1st quarter. American Century Companies Inc. now owns 20,662,628 shares of the restaurant operator's stock valued at $1,037,471,000 after buying an additional 425,648 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Chipotle Mexican Grill by 8.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 11,111,416 shares of the restaurant operator's stock worth $557,904,000 after buying an additional 833,760 shares during the last quarter. Hedge funds and other institutional investors own 91.30% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on CMG shares. TD Cowen reiterated a "buy" rating and issued a $58.00 price objective on shares of Chipotle Mexican Grill in a report on Friday, September 19th. Raymond James Financial decreased their price target on Chipotle Mexican Grill from $60.00 to $56.00 and set an "outperform" rating on the stock in a research note on Friday, August 15th. Piper Sandler raised Chipotle Mexican Grill from a "neutral" rating to an "overweight" rating and cut their price objective for the stock from $53.00 to $50.00 in a research report on Tuesday, August 12th. Rothschild & Co Redburn upgraded Chipotle Mexican Grill from a "neutral" rating to a "buy" rating and set a $55.00 price target on the stock in a research note on Wednesday, September 3rd. Finally, KeyCorp cut their price target on shares of Chipotle Mexican Grill from $60.00 to $58.00 and set an "overweight" rating on the stock in a research note on Thursday, July 24th. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, Chipotle Mexican Grill presently has an average rating of "Moderate Buy" and a consensus target price of $59.76.

Chipotle Mexican Grill Stock Performance

CMG opened at $39.69 on Wednesday. The business's 50-day simple moving average is $43.31 and its 200-day simple moving average is $48.46. Chipotle Mexican Grill, Inc. has a one year low of $38.30 and a one year high of $66.74. The stock has a market capitalization of $53.22 billion, a P/E ratio of 35.44, a price-to-earnings-growth ratio of 2.04 and a beta of 1.02.

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The restaurant operator reported $0.33 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 return on equity of 43.50% and a net margin of 13.32%.The business's revenue was up 3.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.34 EPS. On average, equities research analysts forecast 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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