Tritonpoint Wealth LLC Has $4.46 Million Stake in Chipotle Mexican Grill, Inc. $CMG

Key Points

• Tritonpoint Wealth LLC has reduced its stake in Chipotle Mexican Grill, Inc. by 21.3% to a total of 79,407 shares, valued at approximately $4.46 million.
• Chipotle reported a $0.33 EPS for the last quarter, marginally beating estimates, with revenue of $3.06 billion, showing a 3% increase year-over-year.
• The average equity research rating for Chipotle stock is a "Moderate Buy," with a consensus price target of $59.76.

Tritonpoint Wealth LLC lowered its position in Chipotle Mexican Grill, Inc. (NYSE:CMG - Free Report) by 21.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 79,407 shares of the restaurant operator's stock after selling 21,508 shares during the quarter. Tritonpoint Wealth LLC's holdings in Chipotle Mexican Grill were worth $4,459,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of CMG. Cloud Capital Management LLC bought a new position in shares of Chipotle Mexican Grill in the first quarter valued at about $25,000. Saudi Central Bank bought a new position in Chipotle Mexican Grill during the first quarter worth about $27,000. 1248 Management LLC bought a new position in Chipotle Mexican Grill during the first quarter worth about $27,000. Signature Resources Capital Management LLC bought a new position in Chipotle Mexican Grill during the second quarter worth about $28,000. Finally, HighMark Wealth Management LLC increased its position in 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 period. 91.30% of the stock is owned by institutional investors.

Chipotle Mexican Grill Price Performance

NYSE:CMG opened at $40.06 on Friday. The firm's 50 day simple moving average is $42.47 and its 200 day simple moving average is $48.24. Chipotle Mexican Grill, Inc. has a one year low of $38.30 and a one year high of $66.74. The company has a market cap of $53.72 billion, a PE ratio of 35.77, a P/E/G ratio of 2.04 and a beta of 1.02.

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) last posted its 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. Chipotle Mexican Grill had a net margin of 13.32% and a return on equity of 43.50%. The business had revenue of $3.06 billion for the quarter, compared to the consensus estimate of $3.11 billion. During the same period last year, the company earned $0.34 EPS. The firm's revenue was up 3.0% compared to the same quarter last year. Equities research analysts expect that Chipotle Mexican Grill, Inc. will post 1.29 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on CMG shares. Citigroup reduced their price objective on shares of Chipotle Mexican Grill from $68.00 to $62.00 and set a "buy" rating on the stock in a research note on Thursday, July 24th. Piper Sandler upgraded shares of Chipotle Mexican Grill from a "neutral" rating to an "overweight" rating and reduced their price objective for the stock from $53.00 to $50.00 in a research note on Tuesday, August 12th. KeyCorp reduced their price objective 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. BTIG Research reiterated a "buy" rating and set a $57.00 price objective on shares of Chipotle Mexican Grill in a research note on Friday, September 5th. 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 issued a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $59.76.

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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