Norway Savings Bank Increases Stock Position in Chipotle Mexican Grill, Inc. (NYSE:CMG)

Norway Savings Bank grew its position in Chipotle Mexican Grill, Inc. (NYSE:CMG) by 14.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 481 shares of the restaurant operator’s stock after purchasing an additional 62 shares during the period. Norway Savings Bank’s holdings in Chipotle Mexican Grill were worth $1,029,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Versant Capital Management Inc purchased a new stake in shares of Chipotle Mexican Grill in the first quarter valued at about $26,000. Heritage Wealth Management LLC increased its holdings in Chipotle Mexican Grill by 100.0% during the fourth quarter. Heritage Wealth Management LLC now owns 20 shares of the restaurant operator’s stock worth $28,000 after buying an additional 10 shares during the last quarter. Addison Advisors LLC increased its holdings in Chipotle Mexican Grill by 350.0% during the first quarter. Addison Advisors LLC now owns 18 shares of the restaurant operator’s stock worth $31,000 after buying an additional 14 shares during the last quarter. Benjamin Edwards Inc. boosted its position in Chipotle Mexican Grill by 90.0% during the first quarter. Benjamin Edwards Inc. now owns 19 shares of the restaurant operator’s stock worth $32,000 after purchasing an additional 9 shares during the period. Finally, IMA Wealth Inc. boosted its position in Chipotle Mexican Grill by 185.7% during the first quarter. IMA Wealth Inc. now owns 20 shares of the restaurant operator’s stock worth $34,000 after purchasing an additional 13 shares during the period. Hedge funds and other institutional investors own 91.19% of the company’s stock.

Analyst Upgrades and Downgrades

CMG has been the subject of a number of research reports. Morgan Stanley cut their target price on shares of Chipotle Mexican Grill from $2,025.00 to $2,010.00 in a research report on Thursday, July 27th. Robert W. Baird raised their price objective on shares of Chipotle Mexican Grill from $2,200.00 to $2,400.00 and gave the company an “outperform” rating in a research report on Friday, July 21st. Piper Sandler cut their price objective on shares of Chipotle Mexican Grill from $2,075.00 to $1,981.00 in a research report on Thursday, July 27th. Wells Fargo & Company lowered their target price on shares of Chipotle Mexican Grill from $2,400.00 to $2,200.00 in a research note on Thursday, July 27th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $2,200.00 target price on shares of Chipotle Mexican Grill in a research note on Friday, September 8th. Eight investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. According to data from MarketBeat.com, Chipotle Mexican Grill has a consensus rating of “Moderate Buy” and an average target price of $2,144.71.

Chipotle Mexican Grill Trading Down 1.2 %

NYSE:CMG traded down $23.62 during mid-day trading on Friday, reaching $1,912.50. The company’s stock had a trading volume of 247,268 shares, compared to its average volume of 284,788. Chipotle Mexican Grill, Inc. has a 12-month low of $1,344.05 and a 12-month high of $2,175.01. The firm’s fifty day moving average price is $1,952.85 and its two-hundred day moving average price is $1,910.34. The stock has a market cap of $52.76 billion, a P/E ratio of 47.76, a PEG ratio of 1.67 and a beta of 1.30.

Chipotle Mexican Grill (NYSE:CMG) last issued its earnings results on Wednesday, July 26th. The restaurant operator reported $12.65 earnings per share for the quarter, topping 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 business had revenue of $2.51 billion during the quarter, compared to analyst estimates of $2.53 billion. During the same quarter in the previous year, the firm earned $9.30 EPS. Chipotle Mexican Grill’s revenue was up 13.6% on a year-over-year basis. Analysts predict that Chipotle Mexican Grill, Inc. will post 43.06 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Brian R. Niccol sold 1,063 shares of the company’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $1,949.84, for a total transaction of $2,072,679.92. Following the completion of the sale, the chief executive officer now owns 23,347 shares of the company’s stock, valued at approximately $45,522,914.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Brian R. Niccol sold 1,063 shares of the company’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $1,949.84, for a total transaction of $2,072,679.92. Following the completion of the sale, the chief executive officer now owns 23,347 shares of the company’s stock, valued at approximately $45,522,914.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Brian R. Niccol sold 1,086 shares of the company’s stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $2,138.00, for a total transaction of $2,321,868.00. Following the sale, the chief executive officer now directly owns 23,347 shares of the company’s stock, valued at approximately $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.