GLOBALT Investments LLC GA Lowers Position in Chipotle Mexican Grill, Inc. $CMG

Key Points

• GLOBALT Investments LLC GA reduced its stake in Chipotle Mexican Grill by 44.6%, now holding 27,167 shares valued at approximately $1.53 million after selling 21,871 shares in the last quarter.
• Several hedge funds have recently increased their positions in Chipotle, indicating strong institutional investor interest, with 91.30% ownership of the company's stock by such investors.
• Chipotle's shares opened at $41.18 and reported earnings slightly above analyst expectations, although revenue fell short of forecasts, with a forecasted 1.29 EPS for the current fiscal year.

GLOBALT Investments LLC GA lessened its stake in Chipotle Mexican Grill, Inc. (NYSE:CMG - Free Report) by 44.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 27,167 shares of the restaurant operator's stock after selling 21,871 shares during the period. GLOBALT Investments LLC GA's holdings in Chipotle Mexican Grill were worth $1,525,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of CMG. Cloud Capital Management LLC purchased a new stake in Chipotle Mexican Grill in the 1st quarter worth approximately $25,000. Saudi Central Bank purchased a new position in shares of Chipotle Mexican Grill during the 1st quarter valued at approximately $27,000. 1248 Management LLC purchased a new position in shares of Chipotle Mexican Grill during the 1st quarter valued at approximately $27,000. Signature Resources Capital Management LLC purchased a new position in shares of Chipotle Mexican Grill during the 2nd quarter valued at approximately $28,000. Finally, HighMark Wealth Management LLC lifted its position 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 valued at $29,000 after buying an additional 371 shares in the last quarter. Hedge funds and other institutional investors own 91.30% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on CMG shares. KeyCorp decreased their target price on Chipotle Mexican Grill from $58.00 to $52.00 and set an "overweight" rating on the stock in a research report on Monday, October 20th. Guggenheim decreased their target price on Chipotle Mexican Grill from $47.00 to $46.00 and set a "neutral" rating on the stock in a research report on Friday, July 25th. Melius began coverage on Chipotle Mexican Grill in a research note on Monday, July 14th. They issued a "hold" rating and a $60.00 price objective for the company. Stephens reissued an "equal weight" rating and issued a $60.00 price objective on shares of Chipotle Mexican Grill in a research note on Monday, September 29th. Finally, Piper Sandler raised Chipotle Mexican Grill from a "neutral" rating to an "overweight" rating and reduced their price objective for the company from $53.00 to $50.00 in a research note on Tuesday, August 12th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and nine have issued a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $56.69.

Chipotle Mexican Grill Stock Down 1.5%

Shares of CMG opened at $41.18 on Friday. Chipotle Mexican Grill, Inc. has a 52-week low of $38.30 and a 52-week high of $66.74. The company has a market capitalization of $55.22 billion, a PE ratio of 36.77, a price-to-earnings-growth ratio of 2.53 and a beta of 0.99. The stock has a fifty day simple moving average of $40.98 and a two-hundred day simple moving average of $47.12.

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

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