Chipotle Mexican Grill, Inc. $CMG Shares Sold by SVB Wealth LLC

SVB Wealth LLC trimmed its position in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG) by 80.6% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,179 shares of the restaurant operator’s stock after selling 34,013 shares during the quarter. SVB Wealth LLC’s holdings in Chipotle Mexican Grill were worth $262,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in CMG. Financial Life Planners acquired a new stake in Chipotle Mexican Grill during the 3rd quarter worth $25,000. Wealth Watch Advisors INC acquired a new stake in shares of Chipotle Mexican Grill in the third quarter valued at about $25,000. MV Capital Management Inc. purchased a new position in shares of Chipotle Mexican Grill in the fourth quarter worth about $26,000. Osbon Capital Management LLC purchased a new position in shares of Chipotle Mexican Grill in the fourth quarter worth about $28,000. Finally, Winthrop Capital Management LLC acquired a new position in Chipotle Mexican Grill during the third quarter worth about $31,000. 91.30% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CMG has been the subject of a number of recent research reports. DA Davidson started coverage on shares of Chipotle Mexican Grill in a report on Friday, March 6th. They issued a “buy” rating and a $51.00 price objective for the company. Royal Bank Of Canada restated an “outperform” rating and issued a $45.00 price target on shares of Chipotle Mexican Grill in a research report on Thursday, April 30th. Weiss Ratings cut Chipotle Mexican Grill from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, May 20th. Barclays reduced their price objective on Chipotle Mexican Grill from $40.00 to $38.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 30th. Finally, Stifel Nicolaus reissued a “buy” rating on shares of Chipotle Mexican Grill in a research note on Monday, March 9th. Twenty-three equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $45.10.

Chipotle Mexican Grill Price Performance

NYSE:CMG opened at $31.69 on Thursday. The firm has a market capitalization of $40.65 billion, a price-to-earnings ratio of 29.08, a PEG ratio of 1.99 and a beta of 0.99. The company’s 50-day moving average is $32.46 and its two-hundred day moving average is $35.10. Chipotle Mexican Grill, Inc. has a 1-year low of $28.03 and a 1-year high of $58.42.

Chipotle Mexican Grill (NYSE:CMG) last announced its quarterly earnings results on Wednesday, April 29th. The restaurant operator reported $0.24 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.24. The business had revenue of $3.09 billion during the quarter, compared to the consensus estimate of $3.07 billion. Chipotle Mexican Grill had a net margin of 11.96% and a return on equity of 49.64%. The business’s revenue was up 7.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.29 EPS. As a group, equities analysts anticipate that Chipotle Mexican Grill, Inc. will post 1.13 earnings per share for the current fiscal year.

Chipotle Mexican Grill Company Profile

Chipotle Mexican Grill is a fast-casual restaurant company known for its Mexican-inspired menu of burritos, bowls, tacos and salads. Founded in 1993 by Steve Ells, the chain emphasizes fresh, customizable meals made from a limited menu of core ingredients and a focus on ingredient quality. Chipotle operates primarily company-owned restaurants and offers dine-in, takeout, catering and delivery through its own digital platforms and third-party partners.

The company is headquartered in Newport Beach, California, and traces its roots to Denver, Colorado.