Laffer Tengler Investments Inc. Trims Stake in Chipotle Mexican Grill, Inc. $CMG

Laffer Tengler Investments Inc. cut its stake in Chipotle Mexican Grill, Inc. (NYSE:CMG) by 25.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 83,444 shares of the restaurant operator’s stock after selling 29,219 shares during the quarter. Laffer Tengler Investments Inc.’s holdings in Chipotle Mexican Grill were worth $3,270,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of Chipotle Mexican Grill by 2.0% in the 3rd quarter. Vanguard Group Inc. now owns 125,927,338 shares of the restaurant operator’s stock valued at $4,935,092,000 after purchasing an additional 2,470,213 shares during the period. Alliancebernstein L.P. grew its position in Chipotle Mexican Grill by 1.9% during the second quarter. Alliancebernstein L.P. now owns 33,111,508 shares of the restaurant operator’s stock valued at $1,859,211,000 after buying an additional 606,190 shares during the period. Geode Capital Management LLC increased its holdings in Chipotle Mexican Grill by 1.1% in the second quarter. Geode Capital Management LLC now owns 29,659,508 shares of the restaurant operator’s stock valued at $1,657,193,000 after buying an additional 325,926 shares in the last quarter. American Century Companies Inc. increased its holdings in Chipotle Mexican Grill by 2.9% in the second quarter. American Century Companies Inc. now owns 21,257,666 shares of the restaurant operator’s stock valued at $1,193,618,000 after buying an additional 595,038 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Chipotle Mexican Grill in the second quarter worth about $1,001,668,000. Hedge funds and other institutional investors own 91.30% of the company’s stock.

Chipotle Mexican Grill Stock Up 0.6%

Shares of CMG opened at $36.91 on Wednesday. Chipotle Mexican Grill, Inc. has a 52-week low of $29.75 and a 52-week high of $58.42. The stock has a market cap of $48.07 billion, a PE ratio of 32.38, a price-to-earnings-growth ratio of 2.26 and a beta of 1.00. The firm’s fifty day moving average is $38.45 and its two-hundred day moving average is $37.97.

Chipotle Mexican Grill (NYSE:CMG) last posted its quarterly earnings results on Tuesday, February 3rd. The restaurant operator reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.01. Chipotle Mexican Grill had a net margin of 12.88% and a return on equity of 47.99%. The firm had revenue of $2.98 billion for the quarter, compared to the consensus estimate of $2.96 billion. During the same period last year, the firm posted $0.25 earnings per share. The company’s revenue for the quarter was up 4.9% on a year-over-year basis. As a group, research analysts anticipate that Chipotle Mexican Grill, Inc. will post 1.29 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently commented on CMG shares. Mizuho dropped their target price on Chipotle Mexican Grill from $38.00 to $37.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 4th. Zacks Research downgraded Chipotle Mexican Grill from a “hold” rating to a “strong sell” rating in a research report on Friday, February 6th. BTIG Research restated a “buy” rating and issued a $45.00 price objective on shares of Chipotle Mexican Grill in a research report on Wednesday, February 4th. KeyCorp reduced their target price on Chipotle Mexican Grill from $45.00 to $42.00 and set an “overweight” rating for the company in a research note on Wednesday, February 4th. Finally, Truist Financial increased their target price on Chipotle Mexican Grill from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Thursday, January 8th. Twenty-two investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $47.24.

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.