MidWestOne Financial Group Inc. Reduces Position in Chipotle Mexican Grill, Inc. (NYSE:CMG)

MidWestOne Financial Group Inc. cut its stake in Chipotle Mexican Grill, Inc. (NYSE:CMG) by 3.3% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 16,457 shares of the restaurant operator’s stock after selling 558 shares during the quarter. MidWestOne Financial Group Inc.’s holdings in Chipotle Mexican Grill were worth $992,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Koshinski Asset Management Inc. purchased a new stake in shares of Chipotle Mexican Grill in the 4th quarter valued at $228,000. Ballentine Partners LLC boosted its holdings in Chipotle Mexican Grill by 3.7% in the fourth quarter. Ballentine Partners LLC now owns 15,648 shares of the restaurant operator’s stock valued at $944,000 after purchasing an additional 555 shares in the last quarter. Perpetual Ltd grew its position in shares of Chipotle Mexican Grill by 208.3% in the 4th quarter. Perpetual Ltd now owns 12,793 shares of the restaurant operator’s stock valued at $771,000 after buying an additional 8,643 shares during the last quarter. Atomi Financial Group Inc. grew its holdings in shares of Chipotle Mexican Grill by 14.3% during the fourth quarter. Atomi Financial Group Inc. now owns 30,264 shares of the restaurant operator’s stock worth $1,825,000 after purchasing an additional 3,791 shares during the last quarter. Finally, Bourgeon Capital Management LLC purchased a new position in Chipotle Mexican Grill during the 4th quarter worth approximately $569,000. 91.31% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have weighed in on CMG. Barclays lowered their target price on Chipotle Mexican Grill from $60.00 to $56.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 22nd. KeyCorp dropped their target price on shares of Chipotle Mexican Grill from $60.00 to $58.00 and set an “overweight” rating for the company in a report on Thursday, April 24th. Royal Bank of Canada cut their price target on Chipotle Mexican Grill from $65.00 to $60.00 and set an “outperform” rating for the company in a research note on Thursday, April 24th. Truist Financial reduced their target price on Chipotle Mexican Grill from $74.00 to $61.00 and set a “buy” rating on the stock in a research note on Tuesday, April 22nd. Finally, Wells Fargo & Company reduced their target price on shares of Chipotle Mexican Grill from $70.00 to $60.00 and set an “overweight” rating on the stock in a report on Tuesday, April 22nd. Nine investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $61.74.

Chipotle Mexican Grill Price Performance

Shares of NYSE CMG opened at $50.84 on Thursday. The business has a 50-day moving average of $49.84 and a 200-day moving average of $55.32. The stock has a market capitalization of $68.49 billion, a price-to-earnings ratio of 45.79, a PEG ratio of 2.04 and a beta of 1.11. Chipotle Mexican Grill, Inc. has a fifty-two week low of $44.46 and a fifty-two week high of $69.26.

Chipotle Mexican Grill (NYSE:CMG) last posted its quarterly earnings results on Wednesday, April 23rd. The restaurant operator reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.01. The business had revenue of $2.88 billion for the quarter, compared to analysts’ expectations of $2.98 billion. Chipotle Mexican Grill had a return on equity of 42.92% and a net margin of 13.56%. The firm’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $13.37 EPS. On average, sell-side analysts expect that Chipotle Mexican Grill, Inc. will post 1.29 EPS for the current 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.