Creative Planning Sells 45,894 Shares of Chipotle Mexican Grill, Inc. $CMG

Creative Planning cut its position in Chipotle Mexican Grill, Inc. (NYSE:CMG) by 11.2% during the 2nd quarter, HoldingsChannel reports. The firm owned 362,484 shares of the restaurant operator’s stock after selling 45,894 shares during the quarter. Creative Planning’s holdings in Chipotle Mexican Grill were worth $20,353,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in CMG. Signature Resources Capital Management LLC bought a new stake in shares of Chipotle Mexican Grill in the 2nd quarter valued at $28,000. Activest Wealth Management lifted its holdings in Chipotle Mexican Grill by 109.3% during the second quarter. Activest Wealth Management now owns 517 shares of the restaurant operator’s stock worth $29,000 after acquiring an additional 270 shares in the last quarter. Oliver Lagore Vanvalin Investment Group acquired a new position in Chipotle Mexican Grill in the second quarter valued at about $29,000. 1248 Management LLC bought a new stake in shares of Chipotle Mexican Grill in the first quarter worth about $27,000. Finally, Saudi Central Bank acquired a new stake in shares of Chipotle Mexican Grill during the first quarter worth about $27,000. Institutional investors and hedge funds own 91.30% of the company’s stock.

Chipotle Mexican Grill Price Performance

Chipotle Mexican Grill stock opened at $31.55 on Monday. The company has a market cap of $41.71 billion, a price-to-earnings ratio of 27.92, a P/E/G ratio of 2.65 and a beta of 0.98. The firm has a 50-day moving average of $38.17 and a 200-day moving average of $45.36. Chipotle Mexican Grill, Inc. has a one year low of $29.75 and a one year high of $66.74.

Chipotle Mexican Grill (NYSE:CMG) last released its earnings results on Wednesday, October 29th. The restaurant operator reported $0.29 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.29. The business had revenue of $3 billion for the quarter, compared to analyst estimates of $3.06 billion. Chipotle Mexican Grill had a return on equity of 44.32% and a net margin of 13.04%.Chipotle Mexican Grill’s revenue was up 7.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.27 earnings per share. As a group, sell-side analysts expect that Chipotle Mexican Grill, Inc. will post 1.29 earnings per share for the current year.

Analysts Set New Price Targets

CMG has been the subject of several research analyst reports. Truist Financial decreased their price objective on Chipotle Mexican Grill from $53.00 to $45.00 and set a “buy” rating for the company in a research report on Thursday, October 30th. Barclays reduced their price target on shares of Chipotle Mexican Grill from $43.00 to $38.00 and set an “equal weight” rating for the company in a report on Thursday, October 30th. Robert W. Baird lowered their price objective on shares of Chipotle Mexican Grill from $59.00 to $49.00 and set an “outperform” rating for the company in a research report on Friday, October 10th. Rothschild Redb raised shares of Chipotle Mexican Grill from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, September 3rd. Finally, Citigroup lowered their target price on Chipotle Mexican Grill from $68.00 to $62.00 and set a “buy” rating for the company in a report on Thursday, July 24th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Chipotle Mexican Grill presently has a consensus rating of “Moderate Buy” and an average target price of $49.81.

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.