Chipotle Mexican Grill, Inc. $CMG Shares Sold by Cigna Investments Inc. New

Cigna Investments Inc. New cut its holdings in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG) by 5.4% in the second quarter, HoldingsChannel reports. The firm owned 13,097 shares of the restaurant operator’s stock after selling 750 shares during the period. Cigna Investments Inc. New’s holdings in Chipotle Mexican Grill were worth $736,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Cloud Capital Management LLC acquired a new position in Chipotle Mexican Grill during the first quarter valued at $25,000. Oliver Lagore Vanvalin Investment Group acquired a new position in Chipotle Mexican Grill during the second quarter valued at $29,000. 1248 Management LLC acquired a new position in Chipotle Mexican Grill during the first quarter valued at $27,000. Saudi Central Bank acquired a new position in Chipotle Mexican Grill during the first quarter valued at $27,000. Finally, HighMark Wealth Management LLC lifted 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 valued at $29,000 after purchasing an additional 371 shares during the period. 91.30% of the stock is currently owned by institutional investors and hedge funds.

Chipotle Mexican Grill Stock Down 0.3%

CMG opened at $39.55 on Thursday. Chipotle Mexican Grill, Inc. has a twelve month low of $38.30 and a twelve month high of $66.74. The company has a 50-day moving average price of $43.03 and a 200 day moving average price of $48.39. The company has a market cap of $53.03 billion, a PE ratio of 35.31, a price-to-earnings-growth ratio of 2.02 and a beta of 1.02.

Chipotle Mexican Grill (NYSE:CMG) last released its quarterly earnings results on Wednesday, July 23rd. The restaurant operator reported $0.33 earnings per share 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 firm had revenue of $3.06 billion during the quarter, compared to the consensus estimate of $3.11 billion. During the same quarter in the prior year, the firm earned $0.34 EPS. The company’s revenue for the quarter was up 3.0% on a year-over-year basis. As a group, sell-side analysts expect that Chipotle Mexican Grill, Inc. will post 1.29 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Piper Sandler upgraded shares of Chipotle Mexican Grill from a “neutral” rating to an “overweight” rating and decreased their target price for the company from $53.00 to $50.00 in a research report on Tuesday, August 12th. Melius began coverage on shares of Chipotle Mexican Grill in a report on Monday, July 14th. They issued a “hold” rating and a $60.00 price objective for the company. TD Securities reaffirmed a “buy” rating and issued a $57.00 price objective on shares of Chipotle Mexican Grill in a report on Wednesday, June 18th. Redburn Atlantic began coverage on shares of Chipotle Mexican Grill in a report on Tuesday, June 10th. They issued a “neutral” rating and a $55.00 price objective for the company. Finally, BMO Capital Markets raised shares of Chipotle Mexican Grill from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $56.00 to $65.00 in a report 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. Based on data from MarketBeat, Chipotle Mexican Grill presently has an average rating of “Moderate Buy” and an average target price of $59.76.

Chipotle Mexican Grill Company 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.