Summit X LLC Acquires New Shares in Chipotle Mexican Grill, Inc.

Summit X LLC has recently acquired a new position in Chipotle Mexican Grill, Inc. (NYSE:CMG) during the fourth quarter, as disclosed in their latest Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 44,555 shares of the popular restaurant chain, which are valued at approximately $2,686,000.

In addition to Summit X LLC, several other investment firms have also modified their positions in Chipotle Mexican Grill. Ethos Financial Group LLC has established a new position worth about $31,000 in the fourth quarter. In the previous quarter, Capital Performance Advisors LLP acquired shares valued at approximately $33,000. Sound Income Strategies LLC notably increased its holdings by 1,110% during the fourth quarter, ending up with 605 shares worth $36,000 after buying an extra 555 shares recently. Furthermore, Truvestments Capital LLC and Financial Life Planners have also initiated new stakes, with values of about $37,000 and $45,000 respectively, in Chipotle stock. Notably, a substantial 91.31% of Chipotle's shares are owned by institutional investors and hedge funds.

Current Market Performance

The stock of Chipotle Mexican Grill (NYSE:CMG) opened at $49.99 on Wednesday. The company has seen a twelve-month low of $47.98, while its highest mark was $69.26. The fifty-day moving average for the stock stands at $56.05, and the 200-day moving average is at $58.06. Chipotle has a market capitalization of $67.76 billion, a price-to-earnings ratio of 45.03, a P/E/G ratio of 2.04, and a beta of 1.27.

On February 4th, Chipotle Mexican Grill reported its quarterly earnings data; the company announced earnings per share of $0.25, slightly exceeding analysts' expectations of $0.24. At the same time, Chipotle has maintained a net margin of 13.56% and a return on equity of 42.92%. Analysts anticipate that Chipotle will report an average earnings per share of 1.29 for the current fiscal year.

Analyst Ratings and Price Targets

Recently, various analysts have updated their price targets for CMG shares. Oppenheimer has increased their price target from $65.00 to $69.00 while rating the stock as "outperform" on January 7th. Meanwhile, Stephens reduced their price target from $61.00 to $60.00, offering an "equal weight" rating. Piper Sandler followed suit with a new target of $59.00, downgrading their recommendation to "neutral." Stifel Nicolaus set their target at $68.00 with a "buy" rating, while Citigroup revised their target upwards from $69.00 to $70.00, also maintaining a "buy" rating. Currently, nine analysts have a hold rating, nineteen have a buy rating, and one has issued a strong buy rating. MarketBeat reports a consensus rating of "Moderate Buy" with a target price outlook of $66.60.

About Chipotle Mexican Grill

Chipotle Mexican Grill, Inc., together with its subsidiaries, operates Chipotle restaurants, selling a variety of food and beverages, including burritos, burrito bowls, quesadillas, tacos, and salads. The company also facilitates delivery through its app and website. Chipotle has operations across the United States as well as in Canada, France, Germany, and the United Kingdom.

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