Mirae Asset Global Investments Co. Ltd. Sells 343,101 Shares of Chipotle Mexican Grill, Inc. $CMG

Mirae Asset Global Investments Co. Ltd. cut its holdings in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG) by 66.2% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 175,550 shares of the restaurant operator’s stock after selling 343,101 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Chipotle Mexican Grill were worth $6,880,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Operose Advisors LLC purchased a new stake in shares of Chipotle Mexican Grill in the 2nd quarter worth about $25,000. Salomon & Ludwin LLC bought a new position in Chipotle Mexican Grill in the third quarter worth about $26,000. Lavaca Capital LLC purchased a new stake in Chipotle Mexican Grill in the second quarter worth about $28,000. Activest Wealth Management boosted its position in Chipotle Mexican Grill by 109.3% during the 2nd quarter. Activest Wealth Management now owns 517 shares of the restaurant operator’s stock valued at $29,000 after acquiring an additional 270 shares in the last quarter. Finally, Steigerwald Gordon & Koch Inc. bought a new stake in Chipotle Mexican Grill during the 3rd quarter valued at approximately $29,000. Hedge funds and other institutional investors own 91.30% of the company’s stock.

Chipotle Mexican Grill Stock Performance

Shares of NYSE CMG opened at $38.85 on Friday. The firm’s 50 day moving average price is $37.23 and its 200-day moving average price is $39.28. Chipotle Mexican Grill, Inc. has a 52-week low of $29.75 and a 52-week high of $59.19. The company has a market cap of $51.37 billion, a PE ratio of 34.38, a P/E/G ratio of 3.52 and a beta of 0.97.

Chipotle Mexican Grill (NYSE:CMG) last announced its quarterly earnings data on Wednesday, October 29th. The restaurant operator reported $0.29 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.29. Chipotle Mexican Grill had a net margin of 13.04% and a return on equity of 45.39%. The company had revenue of $3 billion during the quarter, compared to analyst estimates of $3.06 billion. During the same period in the previous year, the business earned $0.27 EPS. The firm’s revenue for the quarter was up 7.5% on a year-over-year basis. On average, analysts forecast that Chipotle Mexican Grill, Inc. will post 1.29 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Weiss Ratings restated a “hold (c-)” rating on shares of Chipotle Mexican Grill in a research note on Monday, December 29th. BTIG Research decreased their price objective on Chipotle Mexican Grill from $57.00 to $45.00 and set a “buy” rating for the company in a report on Thursday, October 30th. UBS Group restated a “buy” rating on shares of Chipotle Mexican Grill in a report on Monday, January 26th. Truist Financial upped their target price 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. Finally, BMO Capital Markets reissued an “outperform” rating on shares of Chipotle Mexican Grill in a research report on Thursday, October 30th. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and thirteen have given a Hold rating to the company’s stock. According to MarketBeat.com, Chipotle Mexican Grill presently has a consensus rating of “Moderate Buy” and an average price target of $50.23.

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.