Fred Alger Management LLC Increases Holdings in Chipotle Mexican Grill, Inc. (NYSE:CMG)

Fred Alger Management LLC boosted its holdings in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG – Get Rating) by 8,189.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,295 shares of the restaurant operator’s stock after purchasing an additional 7,207 shares during the period. Fred Alger Management LLC’s holdings in Chipotle Mexican Grill were worth $10,963,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of CMG. Magellan Asset Management Ltd boosted its position in Chipotle Mexican Grill by 8,084.9% during the 2nd quarter. Magellan Asset Management Ltd now owns 396,558 shares of the restaurant operator’s stock valued at $518,404,000 after acquiring an additional 391,713 shares in the last quarter. Artisan Partners Limited Partnership boosted its position in Chipotle Mexican Grill by 65.6% during the 2nd quarter. Artisan Partners Limited Partnership now owns 456,355 shares of the restaurant operator’s stock valued at $596,575,000 after acquiring an additional 180,835 shares in the last quarter. Vanguard Group Inc. boosted its position in Chipotle Mexican Grill by 4.6% during the 3rd quarter. Vanguard Group Inc. now owns 2,620,725 shares of the restaurant operator’s stock valued at $3,938,320,000 after acquiring an additional 114,699 shares in the last quarter. Brown Advisory Inc. boosted its position in Chipotle Mexican Grill by 34.1% during the 2nd quarter. Brown Advisory Inc. now owns 201,906 shares of the restaurant operator’s stock valued at $263,944,000 after acquiring an additional 51,360 shares in the last quarter. Finally, Sei Investments Co. boosted its position in Chipotle Mexican Grill by 68.2% during the 2nd quarter. Sei Investments Co. now owns 126,255 shares of the restaurant operator’s stock valued at $164,669,000 after acquiring an additional 51,211 shares in the last quarter. Hedge funds and other institutional investors own 93.26% of the company’s stock.

Chipotle Mexican Grill Trading Up 1.6 %

CMG stock opened at $1,590.76 on Wednesday. The stock has a market capitalization of $43.94 billion, a PE ratio of 49.62, a price-to-earnings-growth ratio of 1.42 and a beta of 1.30. Chipotle Mexican Grill, Inc. has a 12-month low of $1,196.28 and a 12-month high of $1,754.56. The stock’s 50 day simple moving average is $1,557.98 and its 200 day simple moving average is $1,539.49.

Chipotle Mexican Grill (NYSE:CMG – Get Rating) last released its quarterly earnings data on Tuesday, February 7th. The restaurant operator reported $8.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $8.88 by ($0.59). The business had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.23 billion. Chipotle Mexican Grill had a net margin of 10.41% and a return on equity of 40.96%. The business’s revenue was up 11.2% compared to the same quarter last year. During the same period last year, the company posted $5.58 earnings per share. On average, research analysts predict that Chipotle Mexican Grill, Inc. will post 41.38 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Wedbush lifted their price objective on Chipotle Mexican Grill from $1,800.00 to $2,080.00 and gave the company an “outperform” rating in a research report on Wednesday, February 8th. Raymond James lifted their price objective on Chipotle Mexican Grill from $1,750.00 to $1,900.00 and gave the company an “outperform” rating in a research report on Wednesday, February 8th. Citigroup lifted their price objective on Chipotle Mexican Grill from $1,986.00 to $2,084.00 and gave the company a “buy” rating in a research report on Wednesday, February 8th. Credit Suisse Group boosted their price target on Chipotle Mexican Grill from $1,950.00 to $2,050.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 8th. Finally, Stephens reissued an “overweight” rating and issued a $1,760.00 price target on shares of Chipotle Mexican Grill in a research report on Wednesday, February 8th. Six analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $1,844.79.

Insider Buying and Selling at Chipotle Mexican Grill

In other Chipotle Mexican Grill news, CMO Christopher W. Brandt sold 584 shares of the business’s stock in a transaction on Monday, January 23rd. The shares were sold at an average price of $1,595.00, for a total transaction of $931,480.00. Following the completion of the sale, the chief marketing officer now directly owns 7,782 shares in the company, valued at approximately $12,412,290. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Chipotle Mexican Grill news, CMO Christopher W. Brandt sold 584 shares of the business’s stock in a transaction on Monday, January 23rd. The shares were sold at an average price of $1,595.00, for a total transaction of $931,480.00. Following the completion of the sale, the chief marketing officer now directly owns 7,782 shares in the company, valued at approximately $12,412,290. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Brian R. Niccol sold 5,636 shares of the business’s stock in a transaction on Thursday, February 16th. The shares were sold at an average price of $1,646.82, for a total transaction of $9,281,477.52. Following the sale, the chief executive officer now owns 23,347 shares of the company’s stock, valued at $38,448,306.54. The disclosure for this sale can be found here. In the last ninety days, insiders sold 9,404 shares of company stock worth $15,317,901. Insiders own 1.01% of the company’s stock.

Chipotle Mexican Grill Company Profile

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Chipotle Mexican Grill, Inc engages in the development and operation of classically-cooked, real food with wholesome ingredients without artificial colors, flavors or preservatives. It offers a focused menu of burritos, tacos, burrito bowls, and salads prepared using classic cooking methods. The company was founded by Steve Ells in 1993 and is headquartered in Newport Beach, CA.