Sage Private Wealth Group LLC Purchases Shares of 8,079 Chipotle Mexican Grill, Inc. $CMG

Key Points

• Sage Private Wealth Group LLC acquired 8,079 shares of Chipotle Mexican Grill, valued at approximately $454,000, marking a new position in the company.
• Numerous hedge funds, including Nuveen LLC and Goldman Sachs, have also significantly increased their holdings in Chipotle during the first quarter of 2023.
• Chipotle has received various price target adjustments from analysts, with a consensus target price of $57.55 and a current rating of "Moderate Buy."

Sage Private Wealth Group LLC acquired a new position in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG - Free Report) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor acquired 8,079 shares of the restaurant operator's stock, valued at approximately $454,000.

Several other hedge funds have also modified their holdings of CMG. Nuveen LLC purchased a new position in Chipotle Mexican Grill during the first quarter worth approximately $535,023,000. Goldman Sachs Group Inc. grew its stake in shares of Chipotle Mexican Grill by 98.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 9,900,521 shares of the restaurant operator's stock valued at $497,105,000 after buying an additional 4,903,969 shares during the period. Montrusco Bolton Investments Inc. increased its holdings in shares of Chipotle Mexican Grill by 5,319.7% during the 1st quarter. Montrusco Bolton Investments Inc. now owns 4,848,990 shares of the restaurant operator's stock worth $235,580,000 after buying an additional 4,759,520 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Chipotle Mexican Grill by 7.6% during the 1st 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 buying an additional 4,027,016 shares during the last quarter. Finally, Manning & Napier Advisors LLC purchased a new position in shares of Chipotle Mexican Grill in the 1st quarter worth $127,892,000. 91.30% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Piper Sandler raised Chipotle Mexican Grill from a "neutral" rating to an "overweight" rating and lowered their price target for the company from $53.00 to $50.00 in a research report on Tuesday, August 12th. Guggenheim decreased their target price 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. Jefferies Financial Group dropped their target price on shares of Chipotle Mexican Grill from $48.00 to $44.00 and set a "hold" rating for the company in a research report on Monday. Sanford C. Bernstein reduced their price target on shares of Chipotle Mexican Grill from $65.00 to $60.00 and set an "outperform" rating on the stock in a research report on Thursday, October 2nd. Finally, Rothschild Redb upgraded shares of Chipotle Mexican Grill from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, September 3rd. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat.com, Chipotle Mexican Grill presently has a consensus rating of "Moderate Buy" and a consensus target price of $57.55.

Chipotle Mexican Grill Price Performance

NYSE:CMG opened at $41.73 on Friday. The firm has a 50-day moving average of $41.10 and a two-hundred day moving average of $47.41. The stock has a market cap of $55.96 billion, a P/E ratio of 37.26, a PEG ratio of 2.52 and a beta of 0.99. 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 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 business had revenue of $3.06 billion for 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 company's revenue was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.34 earnings per share. As a group, equities 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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