Summit Global Investments Buys New Holdings in Chipotle Mexican Grill, Inc. (NYSE:CMG)

Summit Global Investments purchased a new position in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 4,950 shares of the restaurant operator’s stock, valued at approximately $310,000.

Other large investors also recently modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Chipotle Mexican Grill in the 2nd quarter valued at $25,000. Riverview Trust Co lifted its holdings in shares of Chipotle Mexican Grill by 4,900.0% in the second quarter. Riverview Trust Co now owns 400 shares of the restaurant operator’s stock valued at $25,000 after purchasing an additional 392 shares in the last quarter. Steph & Co. purchased a new stake in shares of Chipotle Mexican Grill during the first quarter worth about $29,000. M&R Capital Management Inc. grew its holdings in Chipotle Mexican Grill by 4,900.0% in the second quarter. M&R Capital Management Inc. now owns 500 shares of the restaurant operator’s stock valued at $31,000 after purchasing an additional 490 shares during the period. Finally, Versant Capital Management Inc boosted its holdings in Chipotle Mexican Grill by 9,900.0% in the second quarter. Versant Capital Management Inc now owns 500 shares of the restaurant operator’s stock valued at $31,000 after acquiring an additional 495 shares during the last quarter. 91.31% of the stock is owned by hedge funds and other institutional investors.

Chipotle Mexican Grill Trading Up 3.5 %

CMG stock traded up $1.82 during trading on Wednesday, hitting $53.76. The company had a trading volume of 9,480,083 shares, compared to its average volume of 15,171,387. The company has a fifty day moving average price of $122.11 and a two-hundred day moving average price of $80.76. Chipotle Mexican Grill, Inc. has a fifty-two week low of $35.37 and a fifty-two week high of $69.26. The company has a market cap of $73.83 billion, a P/E ratio of 57.07, a P/E/G ratio of 2.23 and a beta of 1.24.

Chipotle Mexican Grill (NYSE:CMG) last posted its earnings results on Wednesday, July 24th. The restaurant operator reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.02. The business had revenue of $2.97 billion for the quarter, compared to analyst estimates of $2.94 billion. Chipotle Mexican Grill had a net margin of 13.23% and a return on equity of 44.01%. The firm’s quarterly revenue was up 18.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $12.65 EPS. On average, analysts expect that Chipotle Mexican Grill, Inc. will post 1.09 earnings per share for the current year.

Insider Activity

In related news, insider Curtis E. Garner sold 17,394 shares of the firm’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $54.68, for a total transaction of $951,103.92. Following the completion of the sale, the insider now directly owns 358,300 shares of the company’s stock, valued at approximately $19,591,844. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.02% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

CMG has been the topic of several analyst reports. Piper Sandler dropped their target price on Chipotle Mexican Grill from $61.00 to $56.00 and set a “neutral” rating on the stock in a report on Thursday, July 25th. Evercore ISI reduced their price target on shares of Chipotle Mexican Grill from $65.00 to $59.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 14th. Citigroup reduced their price target on shares of Chipotle Mexican Grill from $71.00 to $69.00 and set a “buy” rating for the company in a report on Thursday, July 25th. Truist Financial reaffirmed a “buy” rating and set a $69.00 target price on shares of Chipotle Mexican Grill in a research note on Tuesday, August 13th. Finally, Wells Fargo & Company raised their price objective on shares of Chipotle Mexican Grill from $65.70 to $66.00 and gave the company an “overweight” rating in a research note on Thursday, April 25th. Ten research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $62.36.

Chipotle Mexican Grill Profile

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.