Cerro Pacific Wealth Advisors LLC Boosts Stock Position in Chipotle Mexican Grill, Inc. $CMG

Cerro Pacific Wealth Advisors LLC increased its stake in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG) by 8.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,388 shares of the restaurant operator’s stock after purchasing an additional 599 shares during the quarter. Cerro Pacific Wealth Advisors LLC’s holdings in Chipotle Mexican Grill were worth $415,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CMG. Nuveen LLC purchased a new stake in Chipotle Mexican Grill during the 1st quarter worth about $535,023,000. Goldman Sachs Group Inc. grew its holdings in Chipotle Mexican Grill by 98.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 9,900,521 shares of the restaurant operator’s stock valued at $497,105,000 after buying an additional 4,903,969 shares during the period. Montrusco Bolton Investments Inc. grew its holdings in Chipotle Mexican Grill by 5,319.7% in the 1st quarter. Montrusco Bolton Investments Inc. now owns 4,848,990 shares of the restaurant operator’s stock valued at $235,580,000 after buying an additional 4,759,520 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in Chipotle Mexican Grill by 7.6% in the 1st 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 buying an additional 4,027,016 shares during the period. Finally, Manning & Napier Advisors LLC purchased a new stake in Chipotle Mexican Grill in the 1st quarter valued at about $127,892,000. Hedge funds and other institutional investors own 91.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Piper Sandler upgraded Chipotle Mexican Grill from a “neutral” rating to an “overweight” rating and lowered their price target for the company from $53.00 to $50.00 in a report on Tuesday, August 12th. Weiss Ratings restated a “hold (c)” rating on shares of Chipotle Mexican Grill in a report on Wednesday. Melius assumed coverage on Chipotle Mexican Grill in a report on Monday, July 14th. They issued a “hold” rating and a $60.00 price target for the company. Barclays lowered their price target on Chipotle Mexican Grill from $55.00 to $53.00 and set an “equal weight” rating for the company in a report on Thursday, July 24th. Finally, BTIG Research restated a “buy” rating and issued a $57.00 price target on shares of Chipotle Mexican Grill in a report on Friday, September 5th. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $58.93.

Chipotle Mexican Grill Stock Performance

Shares of NYSE:CMG opened at $39.86 on Friday. Chipotle Mexican Grill, Inc. has a 1 year low of $38.30 and a 1 year high of $66.74. The stock has a market capitalization of $53.45 billion, a P/E ratio of 35.59, a PEG ratio of 2.03 and a beta of 0.99. The stock has a 50-day simple moving average of $41.18 and a 200-day simple moving average of $47.63.

Chipotle Mexican Grill (NYSE:CMG) last issued its 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 business had revenue of $3.06 billion during the quarter, compared to analysts’ expectations of $3.11 billion. Chipotle Mexican Grill had a return on equity of 43.50% and a net margin of 13.32%.The company’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.34 EPS. Analysts predict that Chipotle Mexican Grill, Inc. will post 1.29 earnings per share for the current year.

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.