Chipotle Mexican Grill, Inc. (NYSE:CMG) Shares Bought by SouthState Corp

SouthState Corp raised its position in Chipotle Mexican Grill, Inc. (NYSE:CMG) by 8,650.0% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 700 shares of the restaurant operator’s stock after purchasing an additional 692 shares during the quarter. SouthState Corp’s holdings in Chipotle Mexican Grill were worth $44,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Evermay Wealth Management LLC lifted its position in Chipotle Mexican Grill by 1.8% during the fourth quarter. Evermay Wealth Management LLC now owns 231 shares of the restaurant operator’s stock valued at $528,000 after buying an additional 4 shares in the last quarter. Peloton Wealth Strategists lifted its holdings in shares of Chipotle Mexican Grill by 0.3% during the 4th quarter. Peloton Wealth Strategists now owns 1,451 shares of the restaurant operator’s stock valued at $3,318,000 after acquiring an additional 4 shares in the last quarter. Hazlett Burt & Watson Inc. boosted its position in Chipotle Mexican Grill by 19.0% during the 1st quarter. Hazlett Burt & Watson Inc. now owns 25 shares of the restaurant operator’s stock worth $73,000 after purchasing an additional 4 shares during the period. Diversified Trust Co increased its holdings in Chipotle Mexican Grill by 0.9% in the 1st quarter. Diversified Trust Co now owns 474 shares of the restaurant operator’s stock valued at $1,378,000 after purchasing an additional 4 shares in the last quarter. Finally, Valley National Advisers Inc. raised its position in Chipotle Mexican Grill by 9.8% in the first quarter. Valley National Advisers Inc. now owns 45 shares of the restaurant operator’s stock valued at $131,000 after purchasing an additional 4 shares during the period. 91.31% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Curtis E. Garner sold 17,394 shares of the stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $54.68, for a total value of $951,103.92. Following the sale, the insider now owns 358,300 shares of the company’s stock, valued at approximately $19,591,844. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.02% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on CMG. Guggenheim increased their target price on Chipotle Mexican Grill from $54.50 to $55.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. Stephens reaffirmed an “equal weight” rating and issued a $61.00 price objective on shares of Chipotle Mexican Grill in a research report on Tuesday, August 13th. Evercore ISI reduced their target price on shares of Chipotle Mexican Grill from $65.00 to $59.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 14th. Argus raised their price target on shares of Chipotle Mexican Grill from $73.36 to $77.76 and gave the company a “buy” rating in a report on Tuesday, June 18th. Finally, Robert W. Baird cut their price objective on shares of Chipotle Mexican Grill from $74.00 to $62.00 and set an “outperform” rating on the stock in a report on Wednesday, August 14th. Ten research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $62.36.

Chipotle Mexican Grill Stock Up 1.2 %

CMG opened at $53.69 on Friday. The company’s 50-day moving average price is $54.95 and its 200 day moving average price is $80.60. Chipotle Mexican Grill, Inc. has a fifty-two week low of $35.37 and a fifty-two week high of $69.26. The firm has a market cap of $73.74 billion, a price-to-earnings ratio of 57.12, a price-to-earnings-growth ratio of 2.34 and a beta of 1.25.

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

Chipotle Mexican Grill 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.