Modern Wealth Management LLC Decreases Stock Holdings in Chipotle Mexican Grill, Inc. (NYSE:CMG)

Modern Wealth Management LLC lowered its holdings in Chipotle Mexican Grill, Inc. (NYSE:CMG) by 12.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,267 shares of the restaurant operator’s stock after selling 873 shares during the period. Modern Wealth Management LLC’s holdings in Chipotle Mexican Grill were worth $362,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in CMG. Ethos Financial Group LLC bought a new position in Chipotle Mexican Grill during the fourth quarter valued at about $31,000. Sound Income Strategies LLC grew its position in shares of Chipotle Mexican Grill by 1,110.0% during the 4th quarter. Sound Income Strategies LLC now owns 605 shares of the restaurant operator’s stock valued at $36,000 after acquiring an additional 555 shares during the period. Truvestments Capital LLC purchased a new stake in shares of Chipotle Mexican Grill during the 3rd quarter worth approximately $37,000. Financial Life Planners bought a new stake in shares of Chipotle Mexican Grill in the 4th quarter worth approximately $45,000. Finally, Oakworth Capital Inc. purchased a new position in Chipotle Mexican Grill in the fourth quarter valued at approximately $50,000. 91.31% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. KeyCorp decreased their target price on Chipotle Mexican Grill from $66.00 to $64.00 and set an “overweight” rating for the company in a research report on Wednesday, February 5th. Loop Capital raised Chipotle Mexican Grill from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $58.00 to $65.00 in a report on Friday, March 14th. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $70.00 price objective on shares of Chipotle Mexican Grill in a report on Tuesday, January 28th. Oppenheimer increased their target price on shares of Chipotle Mexican Grill from $65.00 to $69.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 7th. Finally, Evercore ISI boosted their price target on shares of Chipotle Mexican Grill from $70.00 to $72.00 and gave the company an “outperform” rating in a research report on Thursday, December 5th. Eight research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Chipotle Mexican Grill currently has an average rating of “Moderate Buy” and an average target price of $66.67.

Chipotle Mexican Grill Stock Up 1.8 %

CMG opened at $50.98 on Friday. The business’s fifty day simple moving average is $53.97 and its 200 day simple moving average is $57.57. Chipotle Mexican Grill, Inc. has a 52 week low of $47.55 and a 52 week high of $69.26. The stock has a market cap of $69.10 billion, a PE ratio of 45.92, a P/E/G ratio of 2.04 and a beta of 1.27.

Chipotle Mexican Grill (NYSE:CMG) last announced its quarterly earnings data on Tuesday, February 4th. The restaurant operator reported $0.25 EPS for the quarter, beating the consensus estimate of $0.24 by $0.01. Chipotle Mexican Grill had a return on equity of 42.92% and a net margin of 13.56%. As a group, equities 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.