Modern Wealth Management LLC Grows Position in Chipotle Mexican Grill, Inc. $CMG

Modern Wealth Management LLC raised its holdings in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG) by 8.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,790 shares of the restaurant operator’s stock after purchasing an additional 542 shares during the quarter. Modern Wealth Management LLC’s holdings in Chipotle Mexican Grill were worth $341,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of Chipotle Mexican Grill by 1.3% during the first quarter. Vanguard Group Inc. now owns 122,463,327 shares of the restaurant operator’s stock valued at $6,148,884,000 after buying an additional 1,597,287 shares during the period. Price T Rowe Associates Inc. MD grew its position in Chipotle Mexican Grill by 7.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 56,827,332 shares of the restaurant operator’s stock valued at $2,853,302,000 after acquiring an additional 4,027,016 shares during the last quarter. Alliancebernstein L.P. grew its position in Chipotle Mexican Grill by 8.0% during the first quarter. Alliancebernstein L.P. now owns 32,505,318 shares of the restaurant operator’s stock valued at $1,632,092,000 after acquiring an additional 2,404,798 shares during the last quarter. American Century Companies Inc. grew its position in Chipotle Mexican Grill by 2.1% during the first quarter. American Century Companies Inc. now owns 20,662,628 shares of the restaurant operator’s stock valued at $1,037,471,000 after acquiring an additional 425,648 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Chipotle Mexican Grill by 8.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 11,111,416 shares of the restaurant operator’s stock valued at $557,904,000 after acquiring an additional 833,760 shares during the last quarter. 91.30% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Redburn Atlantic assumed coverage on shares of Chipotle Mexican Grill in a report on Tuesday, June 10th. They issued a “neutral” rating and a $55.00 target price on the stock. Stephens reissued an “equal weight” rating and set a $60.00 price objective on shares of Chipotle Mexican Grill in a research report on Thursday. Raymond James Financial lowered their price objective on Chipotle Mexican Grill from $60.00 to $56.00 and set an “outperform” rating for the company in a research report on Friday, August 15th. Truist Financial lowered their price target on Chipotle Mexican Grill from $64.00 to $60.00 and set a “buy” rating for the company in a research report on Friday, July 25th. Finally, BMO Capital Markets upgraded shares of Chipotle Mexican Grill from a “market perform” rating to an “outperform” rating and upped their target price for the company from $56.00 to $65.00 in a research note on Friday, July 18th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $59.76.

Chipotle Mexican Grill Trading Down 0.8%

Shares of NYSE:CMG opened at $38.65 on Monday. The stock has a 50 day moving average of $45.54 and a 200 day moving average of $49.08. Chipotle Mexican Grill, Inc. has a 12-month low of $38.30 and a 12-month high of $66.74. The company has a market cap of $51.83 billion, a PE ratio of 34.51, a price-to-earnings-growth ratio of 1.97 and a beta of 1.02.

Chipotle Mexican Grill (NYSE:CMG) last posted its quarterly earnings results on Wednesday, July 23rd. The restaurant operator reported $0.33 EPS for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $3.11 billion. During the same period in the previous year, the firm earned $0.34 EPS. The firm’s revenue was up 3.0% compared to the same quarter last year. Equities research analysts predict that Chipotle Mexican Grill, Inc. will post 1.29 earnings per share for the current fiscal 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.