Laffer Tengler Investments Inc. Trims Holdings in Chipotle Mexican Grill, Inc. $CMG

Laffer Tengler Investments Inc. lowered its stake in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG) by 25.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 83,444 shares of the restaurant operator’s stock after selling 29,219 shares during the period. Laffer Tengler Investments Inc.’s holdings in Chipotle Mexican Grill were worth $3,270,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of CMG. Vanguard Group Inc. boosted its position in shares of Chipotle Mexican Grill by 2.0% during the 3rd quarter. Vanguard Group Inc. now owns 125,927,338 shares of the restaurant operator’s stock valued at $4,935,092,000 after acquiring an additional 2,470,213 shares during the last quarter. Alliancebernstein L.P. increased its position in Chipotle Mexican Grill by 1.9% during the second quarter. Alliancebernstein L.P. now owns 33,111,508 shares of the restaurant operator’s stock worth $1,859,211,000 after purchasing an additional 606,190 shares during the last quarter. Geode Capital Management LLC raised its stake in Chipotle Mexican Grill by 1.1% during the second quarter. Geode Capital Management LLC now owns 29,659,508 shares of the restaurant operator’s stock worth $1,657,193,000 after purchasing an additional 325,926 shares during the period. American Century Companies Inc. raised its stake in Chipotle Mexican Grill by 2.9% during the second quarter. American Century Companies Inc. now owns 21,257,666 shares of the restaurant operator’s stock worth $1,193,618,000 after purchasing an additional 595,038 shares during the period. Finally, Norges Bank acquired a new position in Chipotle Mexican Grill in the 2nd quarter valued at about $1,001,668,000. 91.30% of the stock is owned by institutional investors and hedge funds.

Chipotle Mexican Grill Price Performance

CMG opened at $36.91 on Wednesday. Chipotle Mexican Grill, Inc. has a 12 month low of $29.75 and a 12 month high of $58.42. The stock has a market capitalization of $48.07 billion, a price-to-earnings ratio of 32.38, a PEG ratio of 2.26 and a beta of 1.00. The business has a fifty day moving average price of $38.45 and a 200 day moving average price of $37.97.

Chipotle Mexican Grill (NYSE:CMG) last posted its quarterly earnings results on Tuesday, February 3rd. The restaurant operator reported $0.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.01. The company had revenue of $2.98 billion for the quarter, compared to analyst estimates of $2.96 billion. Chipotle Mexican Grill had a return on equity of 47.99% and a net margin of 12.88%.Chipotle Mexican Grill’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.25 EPS. On average, research analysts anticipate that Chipotle Mexican Grill, Inc. will post 1.29 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Sanford C. Bernstein raised their price target on shares of Chipotle Mexican Grill from $40.00 to $50.00 and gave the stock an “outperform” rating in a report on Monday, January 5th. Evercore reiterated an “outperform” rating and issued a $45.00 price objective on shares of Chipotle Mexican Grill in a research report on Friday, December 19th. Argus reissued a “hold” rating on shares of Chipotle Mexican Grill in a research note on Thursday, February 5th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Chipotle Mexican Grill in a research note on Monday, December 29th. Finally, Truist Financial increased their price target on Chipotle Mexican Grill from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Thursday, January 8th. Twenty-two equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $47.24.

Chipotle Mexican Grill Profile

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.