Midwest Trust Co Sells 39,232 Shares of Chipotle Mexican Grill, Inc. $CMG

Midwest Trust Co reduced its stake in Chipotle Mexican Grill, Inc. (NYSE:CMG) by 18.2% during the third quarter, HoldingsChannel.com reports. The firm owned 175,805 shares of the restaurant operator’s stock after selling 39,232 shares during the quarter. Midwest Trust Co’s holdings in Chipotle Mexican Grill were worth $6,890,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in CMG. Revolve Wealth Partners LLC boosted its holdings in shares of 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 during the last quarter. Bison Wealth LLC bought a new stake in Chipotle Mexican Grill in the 4th quarter worth approximately $224,000. Empowered Funds LLC boosted its position in shares of Chipotle Mexican Grill by 5.5% in the first quarter. Empowered Funds LLC now owns 26,460 shares of the restaurant operator’s stock worth $1,329,000 after purchasing an additional 1,368 shares during the period. Johnson Investment Counsel Inc. raised its position in shares of Chipotle Mexican Grill by 84.3% during the 2nd quarter. Johnson Investment Counsel Inc. now owns 13,378 shares of the restaurant operator’s stock valued at $751,000 after purchasing an additional 6,120 shares during the period. Finally, Concurrent Investment Advisors LLC lifted its stake in shares of Chipotle Mexican Grill by 41.3% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 51,097 shares of the restaurant operator’s stock valued at $2,869,000 after buying an additional 14,939 shares in the last quarter. Hedge funds and other institutional investors own 91.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CMG. Barclays decreased their target price on Chipotle Mexican Grill from $44.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 4th. Zacks Research cut Chipotle Mexican Grill from a “hold” rating to a “strong sell” rating in a report on Friday, February 6th. Gordon Haskett lowered Chipotle Mexican Grill from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 8th. KeyCorp decreased their target price on Chipotle Mexican Grill from $45.00 to $42.00 and set an “overweight” rating for the company in a research report on Wednesday, February 4th. Finally, Piper Sandler lowered their target price on shares of Chipotle Mexican Grill from $47.00 to $44.00 and set an “overweight” rating for the company in a research note on Wednesday, February 4th. Twenty-two research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $47.24.

Chipotle Mexican Grill Stock Performance

NYSE CMG opened at $38.43 on Wednesday. Chipotle Mexican Grill, Inc. has a one year low of $29.75 and a one year high of $58.42. The company has a market capitalization of $50.05 billion, a price-to-earnings ratio of 33.71, a price-to-earnings-growth ratio of 2.42 and a beta of 0.99. The company’s 50-day simple moving average is $37.98 and its two-hundred day simple moving average is $38.59.

Chipotle Mexican Grill (NYSE:CMG) last announced its quarterly earnings data on Tuesday, February 3rd. The restaurant operator reported $0.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.01. The business had revenue of $2.98 billion for the quarter, compared to analyst estimates of $2.96 billion. Chipotle Mexican Grill had a return on equity of 47.99% and a net margin of 12.88%.The company’s revenue was up 4.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.25 earnings per share. Equities analysts expect that Chipotle Mexican Grill, Inc. will post 1.29 earnings per share for the current fiscal year.

Chipotle Mexican Grill 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.