Modus Advisors LLC Takes $201,000 Position in Chipotle Mexican Grill, Inc. (NYSE:CMG)

Modus Advisors LLC bought a new position in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 94 shares of the restaurant operator’s stock, valued at approximately $201,000.

Several other large investors also recently modified their holdings of CMG. Versant Capital Management Inc purchased a new position in Chipotle Mexican Grill during the 1st quarter valued at $26,000. Addison Advisors LLC increased its position in shares of Chipotle Mexican Grill by 350.0% during the first quarter. Addison Advisors LLC now owns 18 shares of the restaurant operator’s stock valued at $31,000 after buying an additional 14 shares during the period. Benjamin Edwards Inc. raised its stake in Chipotle Mexican Grill by 90.0% in the first quarter. Benjamin Edwards Inc. now owns 19 shares of the restaurant operator’s stock worth $32,000 after buying an additional 9 shares in the last quarter. Elequin Securities LLC purchased a new stake in Chipotle Mexican Grill in the fourth quarter worth about $28,000. Finally, Heritage Wealth Management LLC boosted its position in Chipotle Mexican Grill by 100.0% during the 4th quarter. Heritage Wealth Management LLC now owns 20 shares of the restaurant operator’s stock valued at $28,000 after acquiring an additional 10 shares in the last quarter. 91.19% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently issued reports on CMG shares. Argus increased their target price on Chipotle Mexican Grill from $2,200.00 to $2,400.00 in a research report on Thursday, June 1st. BMO Capital Markets lowered their price objective on Chipotle Mexican Grill from $1,950.00 to $1,925.00 in a research report on Thursday, July 27th. Stephens reaffirmed an “overweight” rating and issued a $2,400.00 target price on shares of Chipotle Mexican Grill in a research report on Thursday, July 27th. StockNews.com started coverage on shares of Chipotle Mexican Grill in a research report on Thursday, August 17th. They set a “hold” rating for the company. Finally, Bank of America upped their price objective on shares of Chipotle Mexican Grill from $2,200.00 to $2,570.00 and gave the stock a “buy” rating in a report on Friday, July 21st. Eight research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. According to data from MarketBeat, Chipotle Mexican Grill currently has a consensus rating of “Moderate Buy” and a consensus price target of $2,144.71.

Chipotle Mexican Grill Price Performance

Chipotle Mexican Grill stock traded down $0.87 during midday trading on Thursday, reaching $1,932.17. 39,023 shares of the company traded hands, compared to its average volume of 284,113. The business has a 50 day moving average of $1,959.30 and a two-hundred day moving average of $1,904.30. The firm has a market capitalization of $53.30 billion, a price-to-earnings ratio of 48.29, a price-to-earnings-growth ratio of 1.69 and a beta of 1.30. Chipotle Mexican Grill, Inc. has a 12 month low of $1,344.05 and a 12 month high of $2,175.01.

Chipotle Mexican Grill (NYSE:CMG) last posted its quarterly earnings data on Wednesday, July 26th. The restaurant operator reported $12.65 EPS for the quarter, beating analysts’ consensus estimates of $12.25 by $0.40. Chipotle Mexican Grill had a return on equity of 45.85% and a net margin of 12.00%. The company had revenue of $2.51 billion during the quarter, compared to analysts’ expectations of $2.53 billion. During the same quarter in the prior year, the business earned $9.30 earnings per share. Chipotle Mexican Grill’s revenue for the quarter was up 13.6% compared to the same quarter last year. As a group, equities analysts forecast that Chipotle Mexican Grill, Inc. will post 43.06 EPS for the current year.

Insider Activity

In related news, CEO Brian R. Niccol sold 1,063 shares of the firm’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $1,949.84, for a total value of $2,072,679.92. Following the transaction, the chief executive officer now owns 23,347 shares of the company’s stock, valued at $45,522,914.48. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO Brian R. Niccol sold 1,063 shares of the company’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $1,949.84, for a total value of $2,072,679.92. Following the completion of the sale, the chief executive officer now directly owns 23,347 shares in the company, valued at approximately $45,522,914.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Brian R. Niccol sold 1,086 shares of Chipotle Mexican Grill stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $2,138.00, for a total value of $2,321,868.00. Following the transaction, the chief executive officer now owns 23,347 shares in the company, valued at $49,915,886. The disclosure for this sale can be found here. Insiders sold 3,207 shares of company stock valued at $6,434,541 in the last quarter. 0.96% of the stock is currently owned by insiders.

About Chipotle Mexican Grill

Chipotle Mexican Grill, Inc, together with its subsidiaries, owns and operates Chipotle Mexican Grill restaurants. It offers burritos, burrito bowls, quesadillas, tacos, and salads. The company was founded in 1993 and is headquartered in Newport Beach, California.