Focus Partners Wealth Lowers Holdings in Chipotle Mexican Grill, Inc. $CMG

Focus Partners Wealth reduced its position in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG) by 9.8% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 201,945 shares of the restaurant operator’s stock after selling 21,876 shares during the quarter. Focus Partners Wealth’s holdings in Chipotle Mexican Grill were worth $10,140,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Cloud Capital Management LLC purchased a new position in Chipotle Mexican Grill during the first quarter valued at approximately $25,000. Saudi Central Bank purchased a new position in shares of Chipotle Mexican Grill in the 1st quarter valued at $27,000. HighMark Wealth Management LLC raised its position in shares of Chipotle Mexican Grill by 173.4% in the 1st quarter. HighMark Wealth Management LLC now owns 585 shares of the restaurant operator’s stock worth $29,000 after acquiring an additional 371 shares in the last quarter. North Capital Inc. purchased a new stake in shares of Chipotle Mexican Grill during the 1st quarter worth $30,000. Finally, ORG Wealth Partners LLC purchased a new position in Chipotle Mexican Grill in the first quarter valued at about $31,000. 91.30% of the stock is currently owned by hedge funds and other institutional investors.

Chipotle Mexican Grill Price Performance

Shares of NYSE CMG opened at $38.65 on Friday. The stock has a market capitalization of $51.83 billion, a price-to-earnings ratio of 34.51, a PEG ratio of 1.98 and a beta of 1.02. The firm’s 50 day simple moving average is $45.54 and its 200-day simple moving average is $49.10. Chipotle Mexican Grill, Inc. has a 12 month low of $38.30 and a 12 month high of $66.74.

Chipotle Mexican Grill (NYSE:CMG) last announced its quarterly 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. The firm had revenue of $3.06 billion for 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% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.34 earnings per share. Analysts anticipate that Chipotle Mexican Grill, Inc. will post 1.29 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have commented on the stock. Melius initiated coverage on shares of Chipotle Mexican Grill in a research report on Monday, July 14th. They set a “hold” rating and a $60.00 price target for the company. BMO Capital Markets upgraded shares of Chipotle Mexican Grill from a “market perform” rating to an “outperform” rating and raised their target price for the company from $56.00 to $65.00 in a research note on Friday, July 18th. Stephens reaffirmed an “equal weight” rating and set a $60.00 price target on shares of Chipotle Mexican Grill in a research report on Thursday. Robert W. Baird lowered their price objective on Chipotle Mexican Grill from $62.00 to $59.00 and set an “outperform” rating for the company in a research report on Thursday, July 24th. Finally, TD Cowen reduced their target price on Chipotle Mexican Grill from $61.00 to $58.00 and set a “buy” rating on the stock in a research report on Wednesday, July 23rd. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average 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.