IFP Advisors Inc Cuts Holdings in Chipotle Mexican Grill, Inc. $CMG

IFP Advisors Inc trimmed its holdings in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG - Free Report) by 14.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 50,256 shares of the restaurant operator's stock after selling 8,252 shares during the quarter. IFP Advisors Inc's holdings in Chipotle Mexican Grill were worth $2,840,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Cloud Capital Management LLC acquired a new stake in Chipotle Mexican Grill in the first quarter valued at approximately $25,000. Saudi Central Bank acquired a new stake in Chipotle Mexican Grill in the first quarter valued at approximately $27,000. 1248 Management LLC acquired a new stake in Chipotle Mexican Grill in the first quarter valued at approximately $27,000. Signature Resources Capital Management LLC acquired a new stake in Chipotle Mexican Grill in the second quarter valued at approximately $28,000. Finally, HighMark Wealth Management LLC boosted its stake in Chipotle Mexican Grill by 173.4% in the first 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 in the last quarter. 91.30% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Raymond James Financial lowered their target price on shares of Chipotle Mexican Grill from $60.00 to $56.00 and set an "outperform" rating for the company in a research note on Friday, August 15th. Piper Sandler upgraded shares of Chipotle Mexican Grill from a "neutral" rating to an "overweight" rating and lowered their target price for the company from $53.00 to $50.00 in a research note on Tuesday, August 12th. Sanford C. Bernstein lowered their target price on shares of Chipotle Mexican Grill from $65.00 to $60.00 and set an "outperform" rating for the company in a research note on Thursday, October 2nd. Evercore ISI lowered their price objective on shares of Chipotle Mexican Grill from $57.00 to $53.00 and set an "outperform" rating for the company in a research note on Tuesday. Finally, Stifel Nicolaus lowered their price objective on shares of Chipotle Mexican Grill from $65.00 to $60.00 and set a "buy" rating for the company in a research note on Tuesday, September 9th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $58.93.

Chipotle Mexican Grill Price Performance

NYSE CMG opened at $39.86 on Friday. The company has a market capitalization of $53.45 billion, a PE ratio of 35.59, a P/E/G ratio of 2.09 and a beta of 0.99. The company has a fifty day moving average of $41.18 and a 200 day moving average of $47.65. Chipotle Mexican Grill, Inc. has a 1 year low of $38.30 and a 1 year high of $66.74.

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) last posted 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 company had revenue of $3.06 billion during 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%. The firm's quarterly revenue was up 3.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.34 earnings per share. Research analysts expect 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.

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