Secure Asset Management LLC Takes $448,000 Position in Chipotle Mexican Grill, Inc. (NYSE:CMG)

Secure Asset Management LLC bought a new position in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG) in the 2nd quarter, HoldingsChannel.com reports. The firm bought 7,150 shares of the restaurant operator’s stock, valued at approximately $448,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Chipotle Mexican Grill in the second quarter worth approximately $25,000. Riverview Trust Co increased its holdings in shares of Chipotle Mexican Grill by 4,900.0% in the 2nd quarter. Riverview Trust Co now owns 400 shares of the restaurant operator’s stock worth $25,000 after buying an additional 392 shares during the last quarter. Steph & Co. purchased a new stake in shares of Chipotle Mexican Grill during the 1st quarter valued at $29,000. M&R Capital Management Inc. lifted its holdings in shares of Chipotle Mexican Grill by 4,900.0% during the 2nd quarter. M&R Capital Management Inc. now owns 500 shares of the restaurant operator’s stock worth $31,000 after acquiring an additional 490 shares during the last quarter. Finally, Versant Capital Management Inc grew its position 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 worth $31,000 after acquiring an additional 495 shares in the last quarter. Hedge funds and other institutional investors own 91.31% of the company’s stock.

Analysts Set New Price Targets

CMG has been the topic of a number of research reports. Robert W. Baird lowered their price target on Chipotle Mexican Grill from $74.00 to $62.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 14th. Wedbush upgraded Chipotle Mexican Grill from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $54.00 to $58.00 in a research report on Wednesday, August 14th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $67.00 price target on shares of Chipotle Mexican Grill in a research report on Wednesday, August 14th. Raymond James lowered their price objective on shares of Chipotle Mexican Grill from $70.00 to $62.50 and set an “outperform” rating for the company in a report on Thursday, July 25th. Finally, TD Cowen reduced their target price on shares of Chipotle Mexican Grill from $72.00 to $65.00 and set a “buy” rating on the stock in a report on Thursday, July 25th. Ten research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $62.36.

Insider Buying and Selling at Chipotle Mexican Grill

In other news, insider Curtis E. Garner sold 17,394 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $54.68, for a total value of $951,103.92. Following the sale, the insider now directly owns 358,300 shares of the company’s stock, valued at approximately $19,591,844. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 1.02% of the company’s stock.

Chipotle Mexican Grill Price Performance

CMG stock traded up $0.26 during midday trading on Friday, hitting $53.71. The stock had a trading volume of 9,928,362 shares, compared to its average volume of 15,141,147. The business has a 50-day moving average of $121.44 and a two-hundred day moving average of $80.41. The firm has a market cap of $73.76 billion, a price-to-earnings ratio of 57.15, a price-to-earnings-growth ratio of 2.23 and a beta of 1.24. Chipotle Mexican Grill, Inc. has a 52-week low of $35.37 and a 52-week high of $69.26.

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

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.