Conning Inc. Has $639,000 Holdings in Chipotle Mexican Grill, Inc. (NYSE:CMG)

Conning Inc. grew its holdings in Chipotle Mexican Grill, Inc. (NYSE:CMG) by 5,185.0% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,200 shares of the restaurant operator’s stock after purchasing an additional 10,007 shares during the period. Conning Inc.’s holdings in Chipotle Mexican Grill were worth $639,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CMG. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Chipotle Mexican Grill in the second quarter valued at approximately $25,000. Riverview Trust Co raised its holdings in shares of Chipotle Mexican Grill by 4,900.0% in the second quarter. Riverview Trust Co now owns 400 shares of the restaurant operator’s stock valued at $25,000 after purchasing an additional 392 shares during the last quarter. RiverPark Advisors LLC raised its holdings in shares of Chipotle Mexican Grill by 4,900.0% in the second quarter. RiverPark Advisors LLC now owns 400 shares of the restaurant operator’s stock valued at $25,000 after purchasing an additional 392 shares during the last quarter. Steph & Co. acquired a new stake in shares of Chipotle Mexican Grill in the first quarter valued at approximately $29,000. Finally, M&R Capital Management Inc. raised its holdings in shares of Chipotle Mexican Grill by 4,900.0% in the second quarter. M&R Capital Management Inc. now owns 500 shares of the restaurant operator’s stock valued at $31,000 after purchasing an additional 490 shares during the last quarter. 91.31% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Loop Capital decreased their target price on shares of Chipotle Mexican Grill from $58.00 to $53.00 and set a “hold” rating for the company in a research note on Thursday, July 25th. TD Cowen decreased their target price on shares of Chipotle Mexican Grill from $72.00 to $65.00 and set a “buy” rating for the company in a research note on Thursday, July 25th. Stephens reissued an “equal weight” rating and issued a $61.00 target price on shares of Chipotle Mexican Grill in a research note on Tuesday, August 13th. Oppenheimer reduced their price objective on shares of Chipotle Mexican Grill from $70.00 to $65.00 and set an “outperform” rating for the company in a research report on Thursday, July 25th. Finally, Evercore ISI reduced their price objective on shares of Chipotle Mexican Grill from $65.00 to $59.00 and set an “outperform” rating for the company in a research report on Wednesday, August 14th. Ten analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $62.36.

Chipotle Mexican Grill Price Performance

CMG stock traded down $0.37 during midday trading on Wednesday, reaching $55.77. The company had a trading volume of 13,715,299 shares, compared to its average volume of 15,113,517. The company has a market capitalization of $76.59 billion, a price-to-earnings ratio of 59.35, a price-to-earnings-growth ratio of 2.23 and a beta of 1.24. The stock has a 50 day moving average price of $121.19 and a 200-day moving average price of $80.84. Chipotle Mexican Grill, Inc. has a 1-year low of $35.37 and a 1-year high of $69.26.

Chipotle Mexican Grill (NYSE:CMG) last posted its quarterly earnings results on Wednesday, July 24th. The restaurant operator reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.02. The business had revenue of $2.97 billion during the quarter, compared to the consensus estimate of $2.94 billion. Chipotle Mexican Grill had a return on equity of 44.01% and a net margin of 13.23%. Chipotle Mexican Grill’s revenue for the quarter was up 18.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $12.65 earnings per share. As a group, research analysts anticipate that Chipotle Mexican Grill, Inc. will post 1.09 earnings per share for the current year.

Insiders Place Their Bets

In other Chipotle Mexican Grill news, insider Curtis E. Garner sold 17,394 shares of the business’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $54.68, for a total transaction of $951,103.92. Following the completion of the transaction, the insider now owns 358,300 shares of the company’s stock, valued at $19,591,844. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.02% of the company’s stock.

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.