Summit X LLC Purchases Shares of 44,555 Chipotle Mexican Grill, Inc. (NYSE:CMG)

Summit X LLC purchased a new stake in Chipotle Mexican Grill, Inc. (NYSE:CMG) during the 4th quarter, Holdings Channel reports. The firm purchased 44,555 shares of the restaurant operator’s stock, valued at approximately $2,686,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP bought a new stake in shares of Chipotle Mexican Grill during the 3rd quarter worth about $33,000. United Bank boosted its holdings in shares of Chipotle Mexican Grill by 13.7% during the 3rd quarter. United Bank now owns 36,851 shares of the restaurant operator’s stock worth $2,123,000 after buying an additional 4,451 shares during the period. Atria Investments Inc boosted its holdings in shares of Chipotle Mexican Grill by 24.1% during the 3rd quarter. Atria Investments Inc now owns 89,160 shares of the restaurant operator’s stock worth $5,137,000 after buying an additional 17,314 shares during the period. Sigma Planning Corp boosted its holdings in shares of Chipotle Mexican Grill by 33.2% during the 3rd quarter. Sigma Planning Corp now owns 40,677 shares of the restaurant operator’s stock worth $2,344,000 after buying an additional 10,137 shares during the period. Finally, Baker Avenue Asset Management LP boosted its holdings in shares of Chipotle Mexican Grill by 51.0% during the 3rd quarter. Baker Avenue Asset Management LP now owns 5,230 shares of the restaurant operator’s stock worth $301,000 after buying an additional 1,767 shares during the period. 91.31% of the stock is currently owned by institutional investors and hedge funds.

Chipotle Mexican Grill Price Performance

CMG stock opened at $49.99 on Wednesday. The company has a 50 day simple moving average of $56.05 and a 200 day simple moving average of $58.06. The stock has a market cap of $67.76 billion, a price-to-earnings ratio of 45.03, a P/E/G ratio of 2.04 and a beta of 1.27. Chipotle Mexican Grill, Inc. has a 1 year low of $47.98 and a 1 year high of $69.26.

Chipotle Mexican Grill (NYSE:CMG) last announced its quarterly earnings results on Tuesday, February 4th. The restaurant operator reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.01. Chipotle Mexican Grill had a net margin of 13.56% and a return on equity of 42.92%. On average, equities research analysts anticipate that Chipotle Mexican Grill, Inc. will post 1.29 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently commented on CMG shares. Cfra raised shares of Chipotle Mexican Grill from a “buy” rating to a “strong-buy” rating and lifted their target price for the stock from $59.00 to $73.00 in a report on Wednesday, February 5th. Stephens cut their price objective on shares of Chipotle Mexican Grill from $61.00 to $60.00 and set an “equal weight” rating for the company in a report on Wednesday, February 5th. Piper Sandler cut their price objective on shares of Chipotle Mexican Grill from $60.00 to $59.00 and set a “neutral” rating for the company in a report on Wednesday, February 5th. Wedbush cut their price objective on shares of Chipotle Mexican Grill from $69.00 to $64.00 and set an “outperform” rating for the company in a report on Wednesday, February 5th. Finally, Morgan Stanley raised shares of Chipotle Mexican Grill from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $65.00 to $70.00 in a report on Monday, March 3rd. Nine research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $66.60.

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.