Lakeshore Capital Group Inc. Raises Stock Position in Chipotle Mexican Grill, Inc. $CMG

Lakeshore Capital Group Inc. raised its stake in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG) by 18.4% during the second quarter, Holdings Channel reports. The firm owned 14,360 shares of the restaurant operator’s stock after buying an additional 2,227 shares during the quarter. Lakeshore Capital Group Inc.’s holdings in Chipotle Mexican Grill were worth $806,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Nuveen LLC purchased a new stake in shares of Chipotle Mexican Grill in the 1st quarter worth about $535,023,000. Goldman Sachs Group Inc. grew its position in shares of Chipotle Mexican Grill by 98.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 9,900,521 shares of the restaurant operator’s stock worth $497,105,000 after buying an additional 4,903,969 shares during the period. Montrusco Bolton Investments Inc. grew its position in shares of Chipotle Mexican Grill by 5,319.7% in the 1st quarter. Montrusco Bolton Investments Inc. now owns 4,848,990 shares of the restaurant operator’s stock worth $235,580,000 after buying an additional 4,759,520 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of Chipotle Mexican Grill by 7.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 56,827,332 shares of the restaurant operator’s stock worth $2,853,302,000 after buying an additional 4,027,016 shares during the period. Finally, Manning & Napier Advisors LLC purchased a new stake in shares of Chipotle Mexican Grill in the 1st quarter worth about $127,892,000. 91.30% of the stock is owned by hedge funds and other institutional investors.

Chipotle Mexican Grill Stock Performance

Shares of CMG stock opened at $40.94 on Wednesday. Chipotle Mexican Grill, Inc. has a one year low of $38.30 and a one year high of $66.74. The company’s 50-day moving average is $41.33 and its 200 day moving average is $47.83. The company has a market capitalization of $54.89 billion, a price-to-earnings ratio of 36.55, a price-to-earnings-growth ratio of 2.12 and a beta of 0.99.

Chipotle Mexican Grill (NYSE:CMG) last announced its quarterly earnings results on Wednesday, July 23rd. The restaurant operator reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.01. The firm had revenue of $3.06 billion for the quarter, compared to the consensus estimate of $3.11 billion. Chipotle Mexican Grill had a net margin of 13.32% and a return on equity of 43.50%. The business’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.34 EPS. As a group, research analysts predict that Chipotle Mexican Grill, Inc. will post 1.29 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Robert W. Baird reduced their target price on shares of Chipotle Mexican Grill from $62.00 to $59.00 and set an “outperform” rating on the stock in a research report on Thursday, July 24th. Truist Financial reduced their target price on shares of Chipotle Mexican Grill from $64.00 to $60.00 and set a “buy” rating on the stock in a research report on Friday, July 25th. Citigroup reduced their target price on shares of Chipotle Mexican Grill from $68.00 to $62.00 and set a “buy” rating on the stock in a research report on Thursday, July 24th. KeyCorp cut their price objective on shares of Chipotle Mexican Grill from $60.00 to $58.00 and set an “overweight” rating on the stock in a research report on Thursday, July 24th. Finally, BTIG Research reissued a “buy” rating and set a $57.00 price objective on shares of Chipotle Mexican Grill in a research report on Friday, September 5th. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat, Chipotle Mexican Grill has an average rating of “Moderate Buy” and a consensus price target of $59.28.

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.