Patten Group Inc. Increases Stake in Chipotle Mexican Grill, Inc. (NYSE:CMG)

Patten Group Inc. grew its position in Chipotle Mexican Grill, Inc. (NYSE:CMG) by 9.5% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 42,133 shares of the restaurant operator’s stock after buying an additional 3,638 shares during the period. Patten Group Inc.’s holdings in Chipotle Mexican Grill were worth $2,541,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CMG. Transcendent Capital Group LLC lifted its position in Chipotle Mexican Grill by 950.0% in the 3rd quarter. Transcendent Capital Group LLC now owns 525 shares of the restaurant operator’s stock valued at $30,000 after acquiring an additional 475 shares in the last quarter. Capital Performance Advisors LLP purchased a new position in shares of Chipotle Mexican Grill in the third quarter worth $33,000. Sound Income Strategies LLC lifted its stake in Chipotle Mexican Grill by 1,110.0% during the 4th quarter. Sound Income Strategies LLC now owns 605 shares of the restaurant operator’s stock valued at $36,000 after acquiring an additional 555 shares during the period. Truvestments Capital LLC purchased a new stake in shares of Chipotle Mexican Grill during the 3rd quarter valued at about $37,000. Finally, Financial Life Planners bought a new stake in shares of Chipotle Mexican Grill in the fourth quarter worth approximately $45,000. Institutional investors own 91.31% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Stephens dropped their target price on shares of Chipotle Mexican Grill from $61.00 to $60.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 5th. Royal Bank of Canada restated an “outperform” rating and issued a $75.00 price target on shares of Chipotle Mexican Grill in a research note on Tuesday, January 28th. Wedbush reduced their price objective on Chipotle Mexican Grill from $69.00 to $64.00 and set an “outperform” rating for the company in a research report on Wednesday, February 5th. Wells Fargo & Company dropped their target price on Chipotle Mexican Grill from $75.00 to $70.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 5th. Finally, Stifel Nicolaus cut their price target on Chipotle Mexican Grill from $70.00 to $68.00 and set a “buy” rating for the company in a research note on Wednesday, February 5th. Nine analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $66.60.

Insider Activity

In related news, insider Laurie Schalow sold 4,404 shares of the business’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $65.01, for a total value of $286,304.04. Following the sale, the insider now directly owns 185,792 shares in the company, valued at approximately $12,078,337.92. The trade was a 2.32 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.02% of the company’s stock.

Chipotle Mexican Grill Price Performance

CMG stock opened at $54.34 on Tuesday. The company has a market capitalization of $73.65 billion, a price-to-earnings ratio of 48.95, a PEG ratio of 2.04 and a beta of 1.27. Chipotle Mexican Grill, Inc. has a 1-year low of $47.98 and a 1-year high of $69.26. The business has a 50 day simple moving average of $57.23 and a two-hundred day simple moving average of $58.13.

Chipotle Mexican Grill (NYSE:CMG) last issued its earnings results on Tuesday, February 4th. The restaurant operator reported $0.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.01. Chipotle Mexican Grill had a net margin of 13.56% and a return on equity of 42.92%. Sell-side analysts anticipate that Chipotle Mexican Grill, Inc. will post 1.29 EPS for the current fiscal 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.