Summit Financial LLC Lowers Stake in Chipotle Mexican Grill, Inc. (NYSE:CMG)

Summit Financial LLC cut its holdings in Chipotle Mexican Grill, Inc. (NYSE:CMG) by 79.0% during the fourth quarter, HoldingsChannel reports. The firm owned 251,958 shares of the restaurant operator’s stock after selling 949,463 shares during the period. Chipotle Mexican Grill comprises about 0.5% of Summit Financial LLC’s investment portfolio, making the stock its 29th biggest holding. Summit Financial LLC’s holdings in Chipotle Mexican Grill were worth $15,193,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Tortoise Investment Management LLC increased its stake in Chipotle Mexican Grill by 14.0% in the 4th quarter. Tortoise Investment Management LLC now owns 1,436 shares of the restaurant operator’s stock valued at $87,000 after buying an additional 176 shares during the period. Traynor Capital Management Inc. boosted its holdings in shares of Chipotle Mexican Grill by 2.5% in the fourth quarter. Traynor Capital Management Inc. now owns 7,522 shares of the restaurant operator’s stock valued at $454,000 after acquiring an additional 181 shares in the last quarter. BTC Capital Management Inc. increased its stake in shares of Chipotle Mexican Grill by 1.9% during the fourth quarter. BTC Capital Management Inc. now owns 9,969 shares of the restaurant operator’s stock worth $601,000 after acquiring an additional 184 shares during the period. Revolve Wealth Partners LLC raised its holdings in Chipotle Mexican Grill by 4.7% during the fourth quarter. Revolve Wealth Partners LLC now owns 4,804 shares of the restaurant operator’s stock worth $290,000 after purchasing an additional 214 shares in the last quarter. Finally, Confluence Wealth Services Inc. lifted its position in Chipotle Mexican Grill by 4.2% in the fourth quarter. Confluence Wealth Services Inc. now owns 5,391 shares of the restaurant operator’s stock valued at $310,000 after purchasing an additional 218 shares during the period. 91.31% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CMG has been the topic of several recent analyst reports. Stephens dropped their target price on Chipotle Mexican Grill from $61.00 to $60.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 5th. Oppenheimer increased their price objective on Chipotle Mexican Grill from $65.00 to $69.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 7th. Citigroup boosted their target price on shares of Chipotle Mexican Grill from $69.00 to $70.00 and gave the stock a “buy” rating in a research report on Wednesday, February 5th. Stifel Nicolaus cut their price target on shares of Chipotle Mexican Grill from $68.00 to $65.00 and set a “buy” rating for the company in a report on Wednesday, March 19th. Finally, Evercore ISI boosted their price objective on shares of Chipotle Mexican Grill from $70.00 to $72.00 and gave the stock an “outperform” rating in a report on Thursday, December 5th. Eight research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $66.67.

Chipotle Mexican Grill Stock Down 2.0 %

Shares of NYSE:CMG opened at $49.91 on Monday. The company has a market cap of $67.64 billion, a P/E ratio of 44.95, a P/E/G ratio of 2.04 and a beta of 1.27. The business has a fifty day simple moving average of $53.81 and a 200-day simple moving average of $57.57. Chipotle Mexican Grill, Inc. has a 52 week low of $47.55 and a 52 week high of $69.26.

Chipotle Mexican Grill (NYSE:CMG) last posted its quarterly earnings data on Tuesday, February 4th. The restaurant operator reported $0.25 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.01. Chipotle Mexican Grill had a net margin of 13.56% and a return on equity of 42.92%. Sell-side analysts expect that Chipotle Mexican Grill, Inc. will post 1.29 earnings per share for the current fiscal 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.