Stony Point Capital LLC Reduces Stock Holdings in Chipotle Mexican Grill, Inc. $CMG

Key Points

• Stony Point Capital LLC reduced its stake in Chipotle Mexican Grill by 13.8% in the first quarter, selling 26,389 shares and now owning 165,375 shares valued at approximately $8.3 million.
• Various hedge funds have adjusted their positions in Chipotle, with some adding new stakes worth between $25,000 and $31,000, indicating high institutional interest in the stock.
• Wall Street analysts have a consensus target price of $60.22 for Chipotle, with most analysts rating the stock as a Moderate Buy despite some recent price target reductions.

Stony Point Capital LLC reduced its stake in Chipotle Mexican Grill, Inc. (NYSE:CMG - Free Report) by 13.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 165,375 shares of the restaurant operator's stock after selling 26,389 shares during the period. Stony Point Capital LLC's holdings in Chipotle Mexican Grill were worth $8,303,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Cloud Capital Management LLC purchased a new position in Chipotle Mexican Grill in the first quarter valued at approximately $25,000. HighMark Wealth Management LLC grew its position in shares of Chipotle Mexican Grill by 173.4% during the first quarter. HighMark Wealth Management LLC now owns 585 shares of the restaurant operator's stock worth $29,000 after acquiring an additional 371 shares during the last quarter. North Capital Inc. purchased a new position in shares of Chipotle Mexican Grill during the first quarter worth approximately $30,000. ORG Wealth Partners LLC purchased a new position in shares of Chipotle Mexican Grill during the first quarter worth approximately $31,000. Finally, Mascagni Wealth Management Inc. purchased a new position in shares of Chipotle Mexican Grill during the fourth quarter worth approximately $45,000. 91.30% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Guggenheim lowered their target price on shares of 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. KeyCorp lowered their target price on shares of Chipotle Mexican Grill from $60.00 to $58.00 and set an "overweight" rating on the stock in a research report on Thursday, July 24th. TD Securities restated a "buy" rating and set a $57.00 target price on shares of Chipotle Mexican Grill in a research report on Wednesday, June 18th. Wells Fargo & Company decreased their price target on Chipotle Mexican Grill from $65.00 to $60.00 and set an "overweight" rating for the company in a report on Thursday, July 24th. Finally, Truist Financial decreased their price target on Chipotle Mexican Grill from $64.00 to $60.00 and set a "buy" rating for the company in a report on Friday, July 25th. One research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and eight have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $60.22.

Chipotle Mexican Grill Stock Performance

Chipotle Mexican Grill stock opened at $42.39 on Friday. Chipotle Mexican Grill, Inc. has a one year low of $41.18 and a one year high of $66.74. The business has a fifty day moving average of $48.86 and a two-hundred day moving average of $50.21. The company has a market cap of $56.84 billion, a P/E ratio of 37.85, a price-to-earnings-growth ratio of 2.17 and a beta of 1.05.

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) last released its earnings results on Wednesday, July 23rd. The restaurant operator reported $0.33 EPS for the quarter, beating 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 company had revenue of $3.06 billion during the quarter, compared to the consensus estimate of $3.11 billion. During the same quarter last year, the company earned $0.34 earnings per share. Chipotle Mexican Grill's quarterly revenue was up 3.0% compared to the same quarter last year. Sell-side analysts predict 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 Chipotle Mexican Grill stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $49.70, for a total transaction of $5,659,587.50. Following the completion of the transaction, the insider owned 109,815 shares of the company's stock, valued at $5,457,805.50. The trade was a 50.91% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.81% of the stock is owned by company insiders.

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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