Tri Ri Asset Management Corp Buys New Stake in Chipotle Mexican Grill, Inc. (NYSE:CMG)

Tri Ri Asset Management Corp bought a new stake in Chipotle Mexican Grill, Inc. (NYSE:CMG) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 234,200 shares of the restaurant operator’s stock, valued at approximately $13,495,000. Chipotle Mexican Grill makes up about 6.9% of Tri Ri Asset Management Corp’s investment portfolio, making the stock its 4th biggest holding.

A number of other institutional investors and hedge funds have also recently modified their holdings of CMG. Synovus Financial Corp lifted its position in Chipotle Mexican Grill by 2.6% in the third quarter. Synovus Financial Corp now owns 112,484 shares of the restaurant operator’s stock worth $6,481,000 after buying an additional 2,884 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of Chipotle Mexican Grill during the third quarter worth $668,000. Arvest Bank Trust Division bought a new stake in shares of Chipotle Mexican Grill during the third quarter worth $359,000. World Investment Advisors LLC bought a new stake in shares of Chipotle Mexican Grill during the third quarter worth $4,709,000. Finally, Sanctuary Advisors LLC lifted its position in shares of Chipotle Mexican Grill by 5,455.0% during the third quarter. Sanctuary Advisors LLC now owns 165,094 shares of the restaurant operator’s stock worth $10,238,000 after purchasing an additional 162,122 shares during the last quarter. 91.31% of the stock is owned by hedge funds and other institutional investors.

Chipotle Mexican Grill Price Performance

CMG opened at $66.18 on Friday. The business’s 50-day moving average is $60.05 and its two-hundred day moving average is $80.92. Chipotle Mexican Grill, Inc. has a 1 year low of $44.08 and a 1 year high of $69.26. The firm has a market capitalization of $90.18 billion, a PE ratio of 61.60, a price-to-earnings-growth ratio of 2.64 and a beta of 1.27.

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

Insider Transactions at Chipotle Mexican Grill

In other 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 transaction of $286,304.04. Following the sale, the insider now 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Curtis E. Garner sold 15,750 shares of Chipotle Mexican Grill stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $57.05, for a total value of $898,537.50. Following the sale, the insider now directly owns 457,764 shares of the company’s stock, valued at $26,115,436.20. This trade represents a 3.33 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.02% of the company’s stock.

Wall Street Analyst Weigh In

CMG has been the subject of several research analyst reports. Barclays lifted their target price on Chipotle Mexican Grill from $55.00 to $60.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. TD Cowen lifted their target price on Chipotle Mexican Grill from $65.00 to $68.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Evercore ISI lifted their target price on Chipotle Mexican Grill from $70.00 to $72.00 and gave the stock an “outperform” rating in a research report on Thursday, December 5th. Piper Sandler lifted their target price on Chipotle Mexican Grill from $59.00 to $60.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Finally, Wells Fargo & Company lifted their target price on Chipotle Mexican Grill from $67.00 to $75.00 and gave the stock an “overweight” rating in a research report on Thursday. Ten analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $65.71.

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.