Chevy Chase Trust Holdings LLC Sells 27,478 Shares of Chipotle Mexican Grill, Inc. $CMG

Chevy Chase Trust Holdings LLC cut its holdings in Chipotle Mexican Grill, Inc. (NYSE:CMG) by 3.8% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 694,969 shares of the restaurant operator’s stock after selling 27,478 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in Chipotle Mexican Grill were worth $27,236,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Operose Advisors LLC bought a new stake in Chipotle Mexican Grill during the 2nd quarter worth about $25,000. Financial Life Planners acquired a new stake in Chipotle Mexican Grill in the 3rd quarter valued at about $25,000. Wealth Watch Advisors INC bought a new position in shares of Chipotle Mexican Grill in the third quarter worth about $25,000. Salomon & Ludwin LLC bought a new position in shares of Chipotle Mexican Grill in the third quarter worth about $26,000. Finally, Lavaca Capital LLC acquired a new position in shares of Chipotle Mexican Grill during the second quarter worth approximately $28,000. 91.30% of the stock is owned by institutional investors.

Chipotle Mexican Grill Price Performance

CMG opened at $34.03 on Tuesday. The firm has a 50 day simple moving average of $37.94 and a 200 day simple moving average of $37.44. Chipotle Mexican Grill, Inc. has a fifty-two week low of $29.75 and a fifty-two week high of $58.42. The company has a market cap of $44.32 billion, a price-to-earnings ratio of 29.85, a price-to-earnings-growth ratio of 2.00 and a beta of 1.00.

Chipotle Mexican Grill (NYSE:CMG) last announced its quarterly earnings data on Tuesday, February 3rd. The restaurant operator reported $0.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.01. Chipotle Mexican Grill had a net margin of 12.88% and a return on equity of 47.99%. The firm had revenue of $2.98 billion for the quarter, compared to analysts’ expectations of $2.96 billion. During the same period last year, the firm earned $0.25 earnings per share. The business’s revenue for the quarter was up 4.9% on a year-over-year basis. As a group, analysts expect that Chipotle Mexican Grill, Inc. will post 1.29 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on CMG. Argus reissued a “hold” rating on shares of Chipotle Mexican Grill in a report on Thursday, February 5th. Truist Financial boosted their price objective on shares of Chipotle Mexican Grill from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Thursday, January 8th. Zacks Research lowered Chipotle Mexican Grill from a “hold” rating to a “strong sell” rating in a research report on Friday, February 6th. Telsey Advisory Group lowered their target price on Chipotle Mexican Grill from $50.00 to $48.00 and set an “outperform” rating for the company in a research note on Wednesday, February 4th. Finally, Gordon Haskett downgraded Chipotle Mexican Grill from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 8th. Twenty-three research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $47.37.

About Chipotle Mexican Grill

Chipotle Mexican Grill is a fast-casual restaurant company known for its Mexican-inspired menu of burritos, bowls, tacos and salads. Founded in 1993 by Steve Ells, the chain emphasizes fresh, customizable meals made from a limited menu of core ingredients and a focus on ingredient quality. Chipotle operates primarily company-owned restaurants and offers dine-in, takeout, catering and delivery through its own digital platforms and third-party partners.

The company is headquartered in Newport Beach, California, and traces its roots to Denver, Colorado.