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

Modern Wealth Management LLC reduced its stake in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG) by 12.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,267 shares of the restaurant operator’s stock after selling 873 shares during the quarter. Modern Wealth Management LLC’s holdings in Chipotle Mexican Grill were worth $362,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. Ethos Financial Group LLC bought a new position in Chipotle Mexican Grill during the 4th quarter worth approximately $31,000. Sound Income Strategies LLC lifted its position in Chipotle Mexican Grill by 1,110.0% in the fourth quarter. Sound Income Strategies LLC now owns 605 shares of the restaurant operator’s stock valued at $36,000 after purchasing an additional 555 shares during the last quarter. Truvestments Capital LLC purchased a new stake in shares of Chipotle Mexican Grill during the third quarter valued at approximately $37,000. Financial Life Planners bought a new position in shares of Chipotle Mexican Grill in the fourth quarter worth approximately $45,000. Finally, Oakworth Capital Inc. purchased a new position in shares of Chipotle Mexican Grill in the fourth quarter worth $50,000. Hedge funds and other institutional investors own 91.31% of the company’s stock.

Analyst Ratings Changes

CMG has been the subject of several analyst reports. KeyCorp dropped their price target on shares of 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. Morgan Stanley raised Chipotle Mexican Grill from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $65.00 to $70.00 in a research note on Monday, March 3rd. Piper Sandler lowered their price target on Chipotle Mexican Grill from $60.00 to $59.00 and set a “neutral” rating for the company in a research report on Wednesday, February 5th. Raymond James cut their price objective on Chipotle Mexican Grill from $72.00 to $69.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 28th. Finally, Evercore ISI upped their target price on Chipotle Mexican Grill from $70.00 to $72.00 and gave the company an “outperform” rating in a report on Thursday, December 5th. Eight analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Chipotle Mexican Grill has a consensus rating of “Moderate Buy” and a consensus price target of $66.67.

Chipotle Mexican Grill Trading Up 1.8 %

NYSE CMG opened at $50.98 on Friday. Chipotle Mexican Grill, Inc. has a 12 month low of $47.55 and a 12 month high of $69.26. The stock’s fifty day moving average price is $53.97 and its 200-day moving average price is $57.57. The stock has a market cap of $69.10 billion, a P/E 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 net margin of 13.56% and a return on equity of 42.92%. As a group, analysts forecast that Chipotle Mexican Grill, Inc. will post 1.29 earnings per share for the current fiscal year.

Chipotle Mexican Grill Company 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.