Frank Rimerman Advisors LLC Purchases 3,614 Shares of Chipotle Mexican Grill, Inc. $CMG

Frank Rimerman Advisors LLC raised its holdings in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG) by 50.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,777 shares of the restaurant operator’s stock after purchasing an additional 3,614 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in Chipotle Mexican Grill were worth $605,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. Revolve Wealth Partners LLC lifted its stake in Chipotle Mexican Grill by 4.7% during the 4th quarter. Revolve Wealth Partners LLC now owns 4,804 shares of the restaurant operator’s stock valued at $290,000 after acquiring an additional 214 shares in the last quarter. Bison Wealth LLC bought a new position in shares of Chipotle Mexican Grill during the fourth quarter valued at about $224,000. Csenge Advisory Group boosted its holdings in Chipotle Mexican Grill by 5.0% during the first quarter. Csenge Advisory Group now owns 4,603 shares of the restaurant operator’s stock worth $222,000 after purchasing an additional 220 shares during the last quarter. J.W. Cole Advisors Inc. boosted its holdings in Chipotle Mexican Grill by 23.3% during the first quarter. J.W. Cole Advisors Inc. now owns 21,000 shares of the restaurant operator’s stock worth $1,054,000 after purchasing an additional 3,971 shares during the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich grew its position in Chipotle Mexican Grill by 201.5% in the 1st quarter. Bank Julius Baer & Co. Ltd Zurich now owns 39,819 shares of the restaurant operator’s stock worth $1,999,000 after purchasing an additional 26,613 shares in the last quarter. 91.30% of the stock is owned by institutional investors.

Analysts Set New Price Targets

CMG has been the topic of several recent analyst reports. Piper Sandler raised shares of Chipotle Mexican Grill from a “neutral” rating to an “overweight” rating and dropped their target price for the stock from $53.00 to $50.00 in a research report on Tuesday, August 12th. Barclays decreased their price target on Chipotle Mexican Grill from $43.00 to $38.00 and set an “equal weight” rating for the company in a research report on Thursday, October 30th. Wells Fargo & Company dropped their price target on Chipotle Mexican Grill from $55.00 to $45.00 and set an “overweight” rating on the stock in a report on Thursday, October 30th. Evercore ISI reduced their price objective on Chipotle Mexican Grill from $53.00 to $45.00 and set an “outperform” rating for the company in a research note on Thursday, October 30th. Finally, KeyCorp decreased their target price on Chipotle Mexican Grill from $52.00 to $45.00 and set an “overweight” rating for the company in a research report on Thursday, October 30th. Two investment 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 issued a Sell rating to the company’s stock. According to MarketBeat.com, Chipotle Mexican Grill has an average rating of “Moderate Buy” and a consensus target price of $49.81.

Chipotle Mexican Grill Price Performance

CMG opened at $30.98 on Thursday. The firm has a market capitalization of $40.97 billion, a P/E ratio of 27.42, a price-to-earnings-growth ratio of 2.65 and a beta of 0.98. Chipotle Mexican Grill, Inc. has a one year low of $29.75 and a one year high of $66.74. The company has a fifty day moving average price of $37.66 and a 200-day moving average price of $44.98.

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