Keybank National Association OH Reduces Holdings in Chipotle Mexican Grill, Inc. $CMG

Keybank National Association OH reduced its position in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG) by 12.0% during the first quarter, HoldingsChannel reports. The firm owned 124,106 shares of the restaurant operator’s stock after selling 16,884 shares during the quarter. Keybank National Association OH’s holdings in Chipotle Mexican Grill were worth $3,973,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Financial Life Planners acquired a new stake in Chipotle Mexican Grill during the 3rd quarter valued at $25,000. Wealth Watch Advisors INC acquired a new position in Chipotle Mexican Grill in the 3rd quarter worth $25,000. MV Capital Management Inc. acquired a new position in Chipotle Mexican Grill in the 4th quarter worth $26,000. Osbon Capital Management LLC purchased a new position in Chipotle Mexican Grill in the 4th quarter valued at about $28,000. Finally, Merkkuri Wealth Advisors LLC purchased a new position in Chipotle Mexican Grill in the 1st quarter valued at about $28,000. 91.30% of the stock is currently owned by hedge funds and other institutional investors.

Chipotle Mexican Grill Stock Performance

NYSE:CMG opened at $35.37 on Friday. The company has a market capitalization of $45.37 billion, a price-to-earnings ratio of 32.45, a price-to-earnings-growth ratio of 2.29 and a beta of 0.97. Chipotle Mexican Grill, Inc. has a one year low of $28.03 and a one year high of $57.25. The stock has a 50-day simple moving average of $32.28 and a 200 day simple moving average of $35.08.

Chipotle Mexican Grill (NYSE:CMG) last announced its quarterly earnings data on Wednesday, April 29th. The restaurant operator reported $0.24 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.24. Chipotle Mexican Grill had a return on equity of 49.64% and a net margin of 11.96%.The firm had revenue of $3.09 billion for the quarter, compared to analysts’ expectations of $3.07 billion. During the same quarter in the prior year, the firm posted $0.29 earnings per share. Chipotle Mexican Grill’s revenue for the quarter was up 7.4% compared to the same quarter last year. On average, equities research analysts forecast that Chipotle Mexican Grill, Inc. will post 1.13 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Argus raised Chipotle Mexican Grill from a “hold” rating to a “buy” rating and set a $40.00 target price on the stock in a research report on Tuesday, May 5th. TD Cowen reissued a “buy” rating and issued a $44.00 price target on shares of Chipotle Mexican Grill in a report on Thursday, April 30th. BNP Paribas Exane raised their price objective on Chipotle Mexican Grill from $37.00 to $39.00 and gave the company a “neutral” rating in a research note on Thursday, April 30th. Guggenheim dropped their price objective on Chipotle Mexican Grill from $36.00 to $35.00 and set a “neutral” rating on the stock in a report on Friday, May 1st. Finally, Piper Sandler cut their target price on Chipotle Mexican Grill from $44.00 to $42.00 and set an “overweight” rating on the stock in a research report on Thursday, April 30th. Twenty-three research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. Based on data from MarketBeat.com, Chipotle Mexican Grill has an average rating of “Moderate Buy” and a consensus price target of $45.10.

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.