Intech Investment Management LLC Reduces Stock Position in Chipotle Mexican Grill, Inc. (NYSE:CMG)

Intech Investment Management LLC trimmed its position in Chipotle Mexican Grill, Inc. (NYSE:CMG) by 49.7% during the second quarter, Holdings Channel.com reports. The firm owned 3,247 shares of the restaurant operator’s stock after selling 3,214 shares during the period. Intech Investment Management LLC’s holdings in Chipotle Mexican Grill were worth $6,945,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of CMG. Addison Advisors LLC increased its stake in shares of Chipotle Mexican Grill by 350.0% during the 1st quarter. Addison Advisors LLC now owns 18 shares of the restaurant operator’s stock valued at $31,000 after acquiring an additional 14 shares during the last quarter. IMA Wealth Inc. raised its stake 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. Horizon Bancorp Inc. IN boosted its holdings in shares of Chipotle Mexican Grill by 240.0% in the 2nd quarter. Horizon Bancorp Inc. IN now owns 17 shares of the restaurant operator’s stock valued at $36,000 after purchasing an additional 12 shares during the last quarter. Tradition Wealth Management LLC grew its stake in shares of Chipotle Mexican Grill by 320.0% during the 1st quarter. Tradition Wealth Management LLC now owns 21 shares of the restaurant operator’s stock valued at $37,000 after buying an additional 16 shares during the period. Finally, Worth Asset Management LLC acquired a new stake in shares of Chipotle Mexican Grill during the 1st quarter worth $44,000. 91.19% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on CMG shares. Bank of America lifted their target price on Chipotle Mexican Grill from $2,200.00 to $2,570.00 and gave the company a “buy” rating in a report on Friday, July 21st. StockNews.com assumed coverage on shares of Chipotle Mexican Grill in a research note on Thursday, October 5th. They set a “hold” rating for the company. Piper Sandler reduced their target price on shares of Chipotle Mexican Grill from $2,075.00 to $1,981.00 in a report on Thursday, July 27th. Wells Fargo & Company lowered their price target on Chipotle Mexican Grill from $2,400.00 to $2,200.00 in a report on Thursday, July 27th. Finally, Stifel Nicolaus reduced their price objective on Chipotle Mexican Grill from $2,250.00 to $2,150.00 in a research note on Thursday, July 27th. Seven research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Chipotle Mexican Grill has an average rating of “Moderate Buy” and an average price target of $2,161.33.

Chipotle Mexican Grill Stock Up 0.7 %

CMG stock opened at $2,166.02 on Wednesday. Chipotle Mexican Grill, Inc. has a twelve month low of $1,344.05 and a twelve month high of $2,177.07. The company has a market cap of $59.44 billion, a PE ratio of 51.38, a price-to-earnings-growth ratio of 1.89 and a beta of 1.33. The business’s 50-day simple moving average is $1,911.77 and its 200 day simple moving average is $1,978.38.

Chipotle Mexican Grill (NYSE:CMG) last released its quarterly earnings results on Thursday, October 26th. The restaurant operator reported $11.36 EPS for the quarter, topping analysts’ consensus estimates of $10.46 by $0.90. The company had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.47 billion. Chipotle Mexican Grill had a return on equity of 45.26% and a net margin of 12.27%. Chipotle Mexican Grill’s revenue was up 11.3% compared to the same quarter last year. During the same quarter last year, the firm posted $9.51 earnings per share. On average, equities research analysts anticipate that Chipotle Mexican Grill, Inc. will post 43.91 EPS for the current year.

Insiders Place Their Bets

In other news, Director Patricia Filikrushel sold 57 shares of Chipotle Mexican Grill stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $2,049.81, for a total transaction of $116,839.17. Following the completion of the transaction, the director now directly owns 686 shares in the company, valued at approximately $1,406,169.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Brian R. Niccol sold 1,044 shares of the company’s stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $1,830.95, for a total transaction of $1,911,511.80. Following the completion of the transaction, the chief executive officer now directly owns 23,347 shares in the company, valued at approximately $42,747,189.65. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Patricia Filikrushel sold 57 shares of Chipotle Mexican Grill stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $2,049.81, for a total value of $116,839.17. Following the sale, the director now directly owns 686 shares in the company, valued at $1,406,169.66. The disclosure for this sale can be found here. Insiders have sold 4,642 shares of company stock valued at $9,041,139 in the last 90 days. 0.96% of the stock is currently owned by insiders.

Chipotle Mexican Grill Company Profile

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.