Chipotle Mexican Grill, Inc. (NYSE:CMG) Shares Acquired by Contravisory Investment Management Inc.

Contravisory Investment Management Inc. boosted its stake in Chipotle Mexican Grill, Inc. (NYSE:CMG) by 1.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,114 shares of the restaurant operator’s stock after purchasing an additional 41 shares during the quarter. Chipotle Mexican Grill comprises about 2.3% of Contravisory Investment Management Inc.’s holdings, making the stock its 7th biggest position. Contravisory Investment Management Inc.’s holdings in Chipotle Mexican Grill were worth $8,800,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of the stock. Pacific Sun Financial Corp acquired a new stake in Chipotle Mexican Grill in the second quarter worth $342,000. MJP Associates Inc. ADV purchased a new position in Chipotle Mexican Grill during the second quarter worth about $297,000. Occidental Asset Management LLC purchased a new position in Chipotle Mexican Grill during the second quarter worth about $225,000. Y.D. More Investments Ltd boosted its holdings in Chipotle Mexican Grill by 320.0% during the second quarter. Y.D. More Investments Ltd now owns 210 shares of the restaurant operator’s stock worth $449,000 after purchasing an additional 160 shares during the last quarter. Finally, Norway Savings Bank boosted its holdings in Chipotle Mexican Grill by 14.8% during the second quarter. Norway Savings Bank now owns 481 shares of the restaurant operator’s stock worth $1,029,000 after purchasing an additional 62 shares during the last quarter. 91.19% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on CMG shares. Stephens restated an “overweight” rating and set a $2,400.00 price target on shares of Chipotle Mexican Grill in a report on Thursday, July 27th. KeyCorp lowered their price objective on shares of Chipotle Mexican Grill from $2,300.00 to $2,200.00 and set an “overweight” rating on the stock in a research report on Thursday, July 27th. Guggenheim lifted their price objective on shares of Chipotle Mexican Grill from $1,550.00 to $1,950.00 and gave the stock a “neutral” rating in a research report on Friday, July 14th. Morgan Stanley lowered their price objective on shares of Chipotle Mexican Grill from $2,025.00 to $2,010.00 in a research report on Thursday, July 27th. Finally, StockNews.com initiated coverage on shares of Chipotle Mexican Grill in a research report on Thursday, August 17th. They issued a “hold” rating on the stock. Eight analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Chipotle Mexican Grill has an average rating of “Moderate Buy” and a consensus price target of $2,144.71.

Insiders Place Their Bets

In related news, CEO Brian R. Niccol sold 1,058 shares of the stock in a transaction on Friday, September 1st. The shares were sold at an average price of $1,928.16, for a total transaction of $2,039,993.28. Following the transaction, the chief executive officer now owns 23,347 shares of the company’s stock, valued at approximately $45,016,751.52. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CEO Brian R. Niccol sold 1,058 shares of the stock in a transaction on Friday, September 1st. The shares were sold at an average price of $1,928.16, for a total transaction of $2,039,993.28. Following the transaction, the chief executive officer now owns 23,347 shares of the company’s stock, valued at approximately $45,016,751.52. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Brian R. Niccol sold 1,086 shares of the stock in a transaction on 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 transaction, the chief executive officer now directly owns 23,347 shares in the company, valued at approximately $49,915,886. The disclosure for this sale can be found here. Insiders sold a total of 3,207 shares of company stock valued at $6,434,541 in the last quarter. Corporate insiders own 0.96% of the company’s stock.

Chipotle Mexican Grill Price Performance

CMG stock traded up $27.68 during midday trading on Monday, reaching $1,940.18. The company had a trading volume of 84,299 shares, compared to its average volume of 283,646. Chipotle Mexican Grill, Inc. has a 1 year low of $1,344.05 and a 1 year high of $2,175.01. The company has a market capitalization of $53.53 billion, a P/E ratio of 48.34, a P/E/G ratio of 1.66 and a beta of 1.30. The firm has a 50-day moving average price of $1,952.85 and a 200-day moving average price of $1,913.34.

Chipotle Mexican Grill (NYSE:CMG) last released its quarterly earnings results on Wednesday, July 26th. The restaurant operator reported $12.65 EPS for the quarter, topping analysts’ consensus estimates of $12.25 by $0.40. Chipotle Mexican Grill had a net margin of 12.00% and a return on equity of 45.85%. The business had revenue of $2.51 billion during the quarter, compared to analysts’ expectations of $2.53 billion. During the same quarter in the previous year, the company earned $9.30 EPS. The business’s quarterly revenue was up 13.6% compared to the same quarter last year. On average, equities analysts predict that Chipotle Mexican Grill, Inc. will post 43.18 EPS for the current year.

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.