Asset Dedication LLC buys 13,707 shares of Chipotle Mexican Grill, Inc. (NYSE:CMG)

Asset Dedication LLC increased its position in Chipotle Mexican Grill, Inc. (NYSE:CMG – Free Report) by 4,809.5% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,992 shares of the restaurant operator’s stock after acquiring an additional 13,707 shares during the quarter. Asset Dedication LLC’s holdings in Chipotle Mexican Grill were worth $877,000 at the end of the most recent reporting period.

Several other institutional investors have added to or reduced their stakes in CMG. Bank of New York Mellon Corp boosted its stake in Chipotle Mexican Grill by 4,816.1% in the second quarter. Bank of New York Mellon Corp now owns 8,356,173 shares of the restaurant operator’s stock worth $523,514,000 after acquiring an additional 8,186,198 shares during the period. Sumitomo Mitsui Trust Holdings Inc. lifted its position in shares of Chipotle Mexican Grill by 4,260.5% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,132,332 shares of the restaurant operator’s stock worth $196,241,000 after acquiring an additional 3,060,498 shares during the period. Allspring Global Investments Holdings LLC lifted its position in shares of Chipotle Mexican Grill by 3,988.6% during the second quarter. Allspring Global Investments Holdings LLC now owns 2,996,492 shares of the restaurant operator’s stock worth $187,730,000 after acquiring an additional 2,923,203 shares during the period. Rhumbline Advisers raised its position in shares of Chipotle Mexican Grill by 4,947.9% during the second quarter. Rhumbline Advisers now owns 2,633,801 shares of the restaurant operator’s stock worth $165,008,000 after acquiring an additional 2,581,625 shares during the period. Finally, National Bank of Canada FI lifted its position in shares of Chipotle Mexican Grill by 24,348.1% during the 2nd quarter. National Bank of Canada FI now owns 1,974,431 shares of the restaurant operator’s stock, valued at $121,993,000 after acquiring an additional 1,966,355 shares during the period. 91.31% of shares are currently owned by institutional investors.

Indoor activity

In other news, insider Curtis E. Garner sold 17,394 shares of the stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $54.68, for a total value of $951,103.92. Following the completion of the sale, the insider now owns 358,300 shares of the company’s stock, valued at $19,591,844. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders hold 1.02% of the company’s shares.

Chipotle Mexican Grill trading rose 1.2%

Shares of CMG stock opened at $53.68 on Monday. The stock has a market cap of $73.72 billion, a price-to-earnings ratio of 57.11, a PEG ratio of 2.34 and a beta of 1.25. The stock has a 50-day moving average of $54.95 and a 200-day moving average of $81.01. Chipotle Mexican Grill, Inc. has a 1 year low of $35.37 and a 1 year high of $69.26.

Chipotle Mexican Grill (NYSE:CMG – Get Your Free Report ) last posted its quarterly earnings results on Wednesday, July 24th. The restaurant operator reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.02. The company had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $2.94 billion. Chipotle Mexican Grill had a return on equity of 44.01% and a net margin of 13.23%. The company’s quarterly revenue was up 18.2% year over year. In the same quarter last year, the company posted earnings of $12.65 per share. Sell-side analysts estimate that Chipotle Mexican Grill, Inc. will post 1.08 earnings per share for the current year.

Changes in Analyst Ratings

CMG has been the subject of several recent analyst reports. Loop Capital cut their price target on Chipotle Mexican Grill from $58.00 to $53.00 and set a “hold” rating for the company in a research report on Thursday, July 25th. Truist Financial reiterated a “buy” rating and set a $69.00 target price on shares of Chipotle Mexican Grill in a research report on Tuesday, August 13th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $67.00 price objective on shares of Chipotle Mexican Grill in a research report on Wednesday, August 14th. Argus boosted their price objective on Chipotle Mexican Grill from $73.36 to $77.76 and gave the stock a “buy” rating in a research report on Tuesday, June 18th. Finally, Raymond James dropped their price objective on Chipotle Mexican Grill from $70.00 to $62.50 and set an “outperform” rating for the company in a research report on Thursday, the 25th July. Ten research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $62.36.

See our latest report on CMG

About Chipotle Mexican Grill

(Free report)

Chipotle Mexican Grill, Inc, together with its subsidiaries, owns and operates Chipotle Mexican Grill restaurants. Sell ​​food and beverages by offering burritos, burrito bowls, quesadillas, tacos and salads. The company also offers delivery and related services, its app and website. It has operations in the United States, Canada, France, Germany and the United Kingdom.

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