Janney Montgomery Scott LLC Reduces Position in Chipotle Mexican Grill, Inc. $CMG

Janney Montgomery Scott LLC decreased its position in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG) by 9.3% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 192,210 shares of the restaurant operator’s stock after selling 19,749 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Chipotle Mexican Grill were worth $6,153,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bank of Nova Scotia increased its position in Chipotle Mexican Grill by 11.0% in the 3rd quarter. Bank of Nova Scotia now owns 475,672 shares of the restaurant operator’s stock valued at $18,642,000 after acquiring an additional 47,241 shares during the period. Klein Pavlis & Peasley Financial Inc. purchased a new stake in shares of Chipotle Mexican Grill in the fourth quarter valued at approximately $1,597,000. Norges Bank purchased a new stake in shares of Chipotle Mexican Grill in the fourth quarter valued at approximately $711,837,000. Focus Partners Advisor Solutions LLC grew its holdings in Chipotle Mexican Grill by 156.9% during the fourth quarter. Focus Partners Advisor Solutions LLC now owns 58,269 shares of the restaurant operator’s stock worth $2,156,000 after acquiring an additional 35,589 shares during the period. Finally, WINTON GROUP Ltd grew its holdings in Chipotle Mexican Grill by 269.6% during the third quarter. WINTON GROUP Ltd now owns 379,886 shares of the restaurant operator’s stock worth $14,888,000 after acquiring an additional 277,090 shares during the period. Hedge funds and other institutional investors own 91.30% of the company’s stock.

Chipotle Mexican Grill Stock Performance

CMG opened at $35.37 on Friday. The business’s fifty day moving average is $32.28 and its two-hundred day moving average is $35.08. The company has a market cap of $45.37 billion, a price-to-earnings ratio of 32.45, a PEG ratio of 2.29 and a beta of 0.97. Chipotle Mexican Grill, Inc. has a one year low of $28.03 and a one year high of $57.25.

Chipotle Mexican Grill (NYSE:CMG) last posted its earnings results on Wednesday, April 29th. The restaurant operator reported $0.24 earnings per share for the quarter, meeting the consensus estimate of $0.24. Chipotle Mexican Grill had a return on equity of 49.64% and a net margin of 11.96%.The company had revenue of $3.09 billion for the quarter, compared to analyst estimates of $3.07 billion. During the same quarter in the prior year, the company earned $0.29 earnings per share. Chipotle Mexican Grill’s revenue was up 7.4% compared to the same quarter last year. On average, analysts predict that Chipotle Mexican Grill, Inc. will post 1.13 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have commented on CMG. Piper Sandler reduced their target price on Chipotle Mexican Grill from $44.00 to $42.00 and set an “overweight” rating for the company in a report on Thursday, April 30th. Zacks Research raised shares of Chipotle Mexican Grill from a “strong sell” rating to a “hold” rating in a research note on Friday, April 17th. JPMorgan Chase & Co. upgraded shares of Chipotle Mexican Grill from a “neutral” rating to an “overweight” rating and cut their price target for the company from $38.00 to $35.00 in a report on Friday, June 5th. Wall Street Zen upgraded shares of Chipotle Mexican Grill from a “sell” rating to a “hold” rating in a research note on Saturday, March 7th. Finally, BTIG Research reissued a “buy” rating and set a $45.00 price objective on shares of Chipotle Mexican Grill in a report on Thursday, April 30th. Twenty-three research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $45.10.

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.