Merit Financial Group LLC Has $3.92 Million Holdings in Chipotle Mexican Grill, Inc. $CMG

Merit Financial Group LLC grew its holdings in Chipotle Mexican Grill, Inc. (NYSE:CMG) by 17.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 69,727 shares of the restaurant operator’s stock after purchasing an additional 10,533 shares during the period. Merit Financial Group LLC’s holdings in Chipotle Mexican Grill were worth $3,915,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in CMG. Ascent Group LLC grew its holdings in shares of Chipotle Mexican Grill by 3.5% during the 2nd quarter. Ascent Group LLC now owns 5,752 shares of the restaurant operator’s stock valued at $323,000 after acquiring an additional 193 shares in the last quarter. E. Ohman J or Asset Management AB boosted its position in Chipotle Mexican Grill by 0.3% during the second quarter. E. Ohman J or Asset Management AB now owns 59,234 shares of the restaurant operator’s stock valued at $3,326,000 after purchasing an additional 194 shares during the last quarter. Occidental Asset Management LLC boosted its position in Chipotle Mexican Grill by 2.8% during the second quarter. Occidental Asset Management LLC now owns 7,257 shares of the restaurant operator’s stock valued at $407,000 after purchasing an additional 195 shares during the last quarter. Perennial Advisors LLC grew its stake in Chipotle Mexican Grill by 3.1% in the second quarter. Perennial Advisors LLC now owns 6,667 shares of the restaurant operator’s stock valued at $374,000 after purchasing an additional 200 shares in the last quarter. Finally, Quent Capital LLC increased its position in Chipotle Mexican Grill by 2.0% in the 2nd quarter. Quent Capital LLC now owns 10,555 shares of the restaurant operator’s stock worth $593,000 after purchasing an additional 208 shares during the last quarter. 91.30% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Guggenheim reduced their price target on Chipotle Mexican Grill from $47.00 to $46.00 and set a “neutral” rating for the company in a report on Friday, July 25th. Piper Sandler upgraded shares of Chipotle Mexican Grill from a “neutral” rating to an “overweight” rating and reduced their target price for the company from $53.00 to $50.00 in a research note on Tuesday, August 12th. TD Cowen reissued a “buy” rating and issued a $58.00 target price on shares of Chipotle Mexican Grill in a research report on Friday, September 19th. Rothschild & Co Redburn upgraded shares of Chipotle Mexican Grill from a “neutral” rating to a “buy” rating and set a $55.00 price target on the stock in a report on Wednesday, September 3rd. Finally, Stephens reaffirmed an “equal weight” rating and issued a $60.00 price objective on shares of Chipotle Mexican Grill in a research note on Monday, September 29th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $59.41.

Chipotle Mexican Grill Price Performance

Shares of CMG opened at $41.69 on Tuesday. Chipotle Mexican Grill, Inc. has a one year low of $38.30 and a one year high of $66.74. The company’s fifty day moving average price is $41.40 and its 200 day moving average price is $47.87. The company has a market capitalization of $55.90 billion, a PE ratio of 37.22, a price-to-earnings-growth ratio of 2.13 and a beta of 0.99.

Chipotle Mexican Grill (NYSE:CMG) last issued its quarterly earnings results on Wednesday, July 23rd. The restaurant operator reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.01. The company had revenue of $3.06 billion for the quarter, compared to the consensus estimate of $3.11 billion. Chipotle Mexican Grill had a return on equity of 43.50% and a net margin of 13.32%.The firm’s revenue was up 3.0% compared to the same quarter last year. During the same period last year, the business posted $0.34 earnings per share. Analysts anticipate that Chipotle Mexican Grill, Inc. will post 1.29 earnings per share for the current year.

About Chipotle Mexican Grill

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.