SVB Wealth LLC Lowers Stock Position in Chipotle Mexican Grill, Inc. $CMG

SVB Wealth LLC cut its stake in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG) by 80.6% in the first quarter, Holdings Channel.com reports. The fund owned 8,179 shares of the restaurant operator’s stock after selling 34,013 shares during the period. SVB Wealth LLC’s holdings in Chipotle Mexican Grill were worth $262,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Revolve Wealth Partners LLC boosted its position 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 worth $290,000 after purchasing an additional 214 shares during the period. Centurion Wealth Management LLC raised its position in Chipotle Mexican Grill by 3.1% in the fourth quarter. Centurion Wealth Management LLC now owns 8,713 shares of the restaurant operator’s stock valued at $322,000 after purchasing an additional 260 shares during the period. City State Bank raised its position in Chipotle Mexican Grill by 13.4% in the fourth quarter. City State Bank now owns 2,330 shares of the restaurant operator’s stock valued at $86,000 after purchasing an additional 275 shares during the period. Groupama Asset Managment lifted its stake in Chipotle Mexican Grill by 1.9% during the fourth quarter. Groupama Asset Managment now owns 15,596 shares of the restaurant operator’s stock worth $568,000 after purchasing an additional 291 shares in the last quarter. Finally, Cromwell Holdings LLC lifted its stake in Chipotle Mexican Grill by 7.4% during the fourth quarter. Cromwell Holdings LLC now owns 4,295 shares of the restaurant operator’s stock worth $159,000 after purchasing an additional 295 shares in the last quarter. 91.30% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. DA Davidson assumed coverage on Chipotle Mexican Grill in a research note on Friday, March 6th. They issued a “buy” rating and a $51.00 price objective for the company. BNP Paribas Exane increased their target price on Chipotle Mexican Grill from $37.00 to $39.00 and gave the stock a “neutral” rating in a research note on Thursday, April 30th. Raymond James Financial lowered their target price on Chipotle Mexican Grill from $43.00 to $41.00 and set an “outperform” rating for the company in a report on Tuesday, April 21st. Piper Sandler dropped their target price on Chipotle Mexican Grill from $44.00 to $42.00 and set an “overweight” rating for the company in a research report on Thursday, April 30th. Finally, BTIG Research reiterated a “buy” rating and set a $45.00 price target on shares of Chipotle Mexican Grill in a research note on Thursday, April 30th. Twenty-three research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Chipotle Mexican Grill presently has an average rating of “Moderate Buy” and a consensus price target of $45.10.

Chipotle Mexican Grill Price Performance

CMG opened at $31.69 on Thursday. The business has a fifty day moving average price of $32.46 and a 200 day moving average price of $35.10. Chipotle Mexican Grill, Inc. has a 12 month low of $28.03 and a 12 month high of $58.42. The stock 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.

Chipotle Mexican Grill (NYSE:CMG) last announced its quarterly earnings data on Wednesday, April 29th. The restaurant operator reported $0.24 earnings per share (EPS) 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 business had revenue of $3.09 billion during the quarter, compared to analysts’ expectations of $3.07 billion. During the same quarter last year, the business posted $0.29 EPS. The business’s quarterly revenue was up 7.4% compared to the same quarter last year. On average, research analysts anticipate that Chipotle Mexican Grill, Inc. will post 1.13 earnings per share for the current 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.