Chipotle Mexican Grill, Inc. (NYSE:CMG) Stake Lifted by Synovus Financial Corp

Synovus Financial Corp raised its stake in Chipotle Mexican Grill, Inc. (NYSE:CMG) by 2.6% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 112,484 shares of the restaurant operator’s stock after buying an additional 2,884 shares during the quarter. Synovus Financial Corp’s holdings in Chipotle Mexican Grill were worth $6,481,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Geode Capital Management LLC increased its holdings in shares of Chipotle Mexican Grill by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 28,080,978 shares of the restaurant operator’s stock worth $1,612,682,000 after acquiring an additional 438,007 shares during the period. American Century Companies Inc. increased its stake in shares of Chipotle Mexican Grill by 4,732.3% in the second quarter. American Century Companies Inc. now owns 20,177,309 shares of the restaurant operator’s stock valued at $1,264,109,000 after purchasing an additional 19,759,754 shares during the period. Legal & General Group Plc increased its stake in shares of Chipotle Mexican Grill by 5,209.5% in the second quarter. Legal & General Group Plc now owns 10,935,669 shares of the restaurant operator’s stock valued at $685,128,000 after purchasing an additional 10,729,706 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in shares of Chipotle Mexican Grill by 5,930.8% during the second quarter. Massachusetts Financial Services Co. MA now owns 10,310,132 shares of the restaurant operator’s stock valued at $645,930,000 after buying an additional 10,139,174 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its position in shares of Chipotle Mexican Grill by 5.6% during the third quarter. Janus Henderson Group PLC now owns 9,830,644 shares of the restaurant operator’s stock worth $566,439,000 after buying an additional 518,521 shares during the period. 91.31% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have weighed in on CMG. Truist Financial lifted their target price on Chipotle Mexican Grill from $72.00 to $74.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Citigroup cut their price objective on shares of Chipotle Mexican Grill from $71.00 to $70.00 and set a “buy” rating on the stock in a research note on Wednesday, October 30th. TD Cowen upped their price objective on shares of Chipotle Mexican Grill from $65.00 to $68.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Evercore ISI raised their target price on shares of Chipotle Mexican Grill from $70.00 to $72.00 and gave the company an “outperform” rating in a research note on Thursday, December 5th. Finally, Wells Fargo & Company upped their price target on shares of Chipotle Mexican Grill from $67.00 to $75.00 and gave the stock an “overweight” rating in a research note on Thursday. Ten equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $65.71.

Insider Activity

In other Chipotle Mexican Grill news, insider Laurie Schalow sold 4,404 shares of the stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $65.01, for a total value of $286,304.04. Following the completion of the sale, the insider now owns 185,792 shares in the company, valued at $12,078,337.92. This represents a 2.32 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Curtis E. Garner sold 15,750 shares of the business’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $57.05, for a total transaction of $898,537.50. Following the transaction, the insider now owns 457,764 shares in the company, valued at approximately $26,115,436.20. This represents a 3.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.02% of the stock is currently owned by corporate insiders.

Chipotle Mexican Grill Price Performance

Shares of CMG opened at $64.62 on Friday. Chipotle Mexican Grill, Inc. has a one year low of $44.08 and a one year high of $69.26. The company has a 50-day moving average of $60.20 and a two-hundred day moving average of $80.93. The stock has a market cap of $88.05 billion, a price-to-earnings ratio of 60.39, a PEG ratio of 2.64 and a beta of 1.27.

Chipotle Mexican Grill (NYSE:CMG) last posted its quarterly earnings data on Tuesday, October 29th. The restaurant operator reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.02. Chipotle Mexican Grill had a net margin of 13.51% and a return on equity of 43.20%. The firm had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.82 billion. During the same quarter last year, the business posted $0.23 EPS. The company’s revenue was up 13.0% on a year-over-year basis. Analysts anticipate that Chipotle Mexican Grill, Inc. will post 1.11 earnings per share for the current year.

About Chipotle Mexican Grill

Chipotle Mexican Grill, Inc, together with its subsidiaries, owns and operates Chipotle Mexican Grill restaurants. It sells food and beverages through offering burritos, burrito bowls, quesadillas, tacos, and salads. The company also provides delivery and related services its app and website. It has operations in the United States, Canada, France, Germany, and the United Kingdom.