NRI Wealth Management LC Boosts Stock Holdings in Chipotle Mexican Grill, Inc. $CMG

NRI Wealth Management LC grew its stake in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG) by 3.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 49,800 shares of the restaurant operator’s stock after buying an additional 1,475 shares during the quarter. Chipotle Mexican Grill accounts for approximately 1.7% of NRI Wealth Management LC’s portfolio, making the stock its 14th largest holding. NRI Wealth Management LC’s holdings in Chipotle Mexican Grill were worth $2,796,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Cloud Capital Management LLC purchased a new position in Chipotle Mexican Grill in the 1st quarter worth approximately $25,000. Saudi Central Bank purchased a new stake in shares of Chipotle Mexican Grill during the first quarter valued at approximately $27,000. 1248 Management LLC bought a new position in shares of Chipotle Mexican Grill in the first quarter worth approximately $27,000. Signature Resources Capital Management LLC bought a new position in shares of Chipotle Mexican Grill in the second quarter worth approximately $28,000. Finally, HighMark Wealth Management LLC increased its stake in shares of Chipotle Mexican Grill by 173.4% in the first quarter. HighMark Wealth Management LLC now owns 585 shares of the restaurant operator’s stock worth $29,000 after buying an additional 371 shares during the period. Institutional investors own 91.30% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on CMG. TD Cowen reissued a “buy” rating and set a $58.00 price target on shares of Chipotle Mexican Grill in a research report on Friday, September 19th. TD Securities reiterated a “buy” rating and set a $57.00 target price on shares of Chipotle Mexican Grill in a report on Wednesday, June 18th. Wells Fargo & Company cut their target price on Chipotle Mexican Grill from $65.00 to $60.00 and set an “overweight” rating on the stock in a research note on Thursday, July 24th. Piper Sandler raised 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 research report on Tuesday, August 12th. Finally, Rothschild & Co Redburn upgraded Chipotle Mexican Grill from a “neutral” rating to a “buy” rating and set a $55.00 price objective on the stock in a research report on Wednesday, September 3rd. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, Chipotle Mexican Grill currently has a consensus rating of “Moderate Buy” and an average target price of $59.76.

Chipotle Mexican Grill Stock Performance

Chipotle Mexican Grill stock opened at $38.96 on Thursday. Chipotle Mexican Grill, Inc. has a fifty-two week low of $38.30 and a fifty-two week high of $66.74. The stock’s 50 day simple moving average is $41.68 and its two-hundred day simple moving average is $48.04. The stock has a market cap of $52.23 billion, a price-to-earnings ratio of 34.78, a PEG ratio of 2.00 and a beta of 0.99.

Chipotle Mexican Grill (NYSE:CMG) last announced its earnings results on Wednesday, July 23rd. The restaurant operator reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.01. Chipotle Mexican Grill had a return on equity of 43.50% and a net margin of 13.32%.The firm had revenue of $3.06 billion during the quarter, compared to analyst estimates of $3.11 billion. During the same quarter in the prior year, the company earned $0.34 EPS. The business’s revenue was up 3.0% compared to the same quarter last year. On average, 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.