MAI Capital Management Reduces Holdings in Chipotle Mexican Grill, Inc. (NYSE:CMG)

MAI Capital Management cut its holdings in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG) by 3.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 63,067 shares of the restaurant operator’s stock after selling 2,226 shares during the period. MAI Capital Management’s holdings in Chipotle Mexican Grill were worth $3,634,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. O Shaughnessy Asset Management LLC grew its stake in Chipotle Mexican Grill by 19.7% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 1,990 shares of the restaurant operator’s stock valued at $5,784,000 after purchasing an additional 327 shares in the last quarter. Clearbridge Investments LLC grew its position in shares of Chipotle Mexican Grill by 1.0% during the first quarter. Clearbridge Investments LLC now owns 3,422 shares of the restaurant operator’s stock worth $9,947,000 after buying an additional 34 shares in the last quarter. Lake Street Advisors Group LLC increased its stake in shares of Chipotle Mexican Grill by 33.1% in the first quarter. Lake Street Advisors Group LLC now owns 241 shares of the restaurant operator’s stock worth $701,000 after buying an additional 60 shares during the last quarter. Pitcairn Co. raised its holdings in Chipotle Mexican Grill by 8.4% in the first quarter. Pitcairn Co. now owns 168 shares of the restaurant operator’s stock valued at $488,000 after acquiring an additional 13 shares in the last quarter. Finally, InterOcean Capital Group LLC grew its holdings in Chipotle Mexican Grill by 42.1% during the 1st quarter. InterOcean Capital Group LLC now owns 216 shares of the restaurant operator’s stock worth $628,000 after acquiring an additional 64 shares in the last quarter. 91.31% of the stock is owned by hedge funds and other institutional investors.

Chipotle Mexican Grill Stock Performance

Chipotle Mexican Grill stock opened at $58.75 on Wednesday. Chipotle Mexican Grill, Inc. has a 1 year low of $43.20 and a 1 year high of $69.26. The firm’s 50 day moving average price is $58.20 and its two-hundred day moving average price is $81.25. The firm has a market cap of $80.05 billion, a price-to-earnings ratio of 54.91, a price-to-earnings-growth ratio of 2.36 and a beta of 1.26.

Chipotle Mexican Grill (NYSE:CMG) last announced its earnings results on Tuesday, October 29th. The restaurant operator reported $0.27 EPS for the quarter, beating the consensus estimate of $0.25 by $0.02. The business had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.82 billion. Chipotle Mexican Grill had a return on equity of 43.20% and a net margin of 13.51%. Chipotle Mexican Grill’s revenue was up 13.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.23 earnings per share. As a group, equities analysts predict that Chipotle Mexican Grill, Inc. will post 1.11 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Robin S. Hickenlooper sold 1,790 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $56.38, for a total value of $100,920.20. Following the completion of the sale, the director now owns 41,510 shares in the company, valued at $2,340,333.80. This represents a 4.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Curtis E. Garner sold 15,750 shares of Chipotle Mexican Grill stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $55.02, for a total value of $866,565.00. Following the transaction, the insider now owns 473,514 shares in the company, valued at $26,052,740.28. This represents a 3.22 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 33,290 shares of company stock worth $1,866,023 over the last ninety days. 1.02% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

CMG has been the topic of a number of recent analyst reports. Evercore ISI upped their target price on shares of Chipotle Mexican Grill from $59.00 to $70.00 and gave the company an “outperform” rating in a research note on Tuesday, October 15th. KeyCorp decreased their target price on Chipotle Mexican Grill from $68.00 to $66.00 and set an “overweight” rating for the company in a research report on Thursday, July 25th. Loop Capital upped their price target on Chipotle Mexican Grill from $53.00 to $58.00 and gave the company a “hold” rating in a research report on Wednesday, October 30th. Robert W. Baird lifted their price objective on shares of Chipotle Mexican Grill from $62.00 to $70.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $70.00 price objective on shares of Chipotle Mexican Grill in a research report on Wednesday, August 14th. Ten 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, Chipotle Mexican Grill has an average rating of “Moderate Buy” and an average target price of $65.27.

Chipotle Mexican Grill Company Profile

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.