Chipotle Mexican Grill, Inc. (NYSE:CMG) Shares Sold by Ithaka Group LLC

Ithaka Group LLC reduced its stake in Chipotle Mexican Grill, Inc. (NYSE:CMG) by 6.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 311,530 shares of the restaurant operator’s stock after selling 20,320 shares during the period. Chipotle Mexican Grill makes up about 3.4% of Ithaka Group LLC’s investment portfolio, making the stock its 11th biggest holding. Ithaka Group LLC’s holdings in Chipotle Mexican Grill were worth $17,950,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in CMG. Clearbridge Investments LLC increased its holdings in Chipotle Mexican Grill by 1.0% in the 1st quarter. Clearbridge Investments LLC now owns 3,422 shares of the restaurant operator’s stock valued at $9,947,000 after purchasing an additional 34 shares in the last quarter. CreativeOne Wealth LLC boosted its position in Chipotle Mexican Grill by 92.4% in the 1st quarter. CreativeOne Wealth LLC now owns 254 shares of the restaurant operator’s stock valued at $738,000 after buying an additional 122 shares during the last quarter. Freestone Capital Holdings LLC boosted its position in Chipotle Mexican Grill by 5.4% in the 1st quarter. Freestone Capital Holdings LLC now owns 136 shares of the restaurant operator’s stock valued at $396,000 after buying an additional 7 shares during the last quarter. Advisors Asset Management Inc. boosted its position in Chipotle Mexican Grill by 53.7% in the 1st quarter. Advisors Asset Management Inc. now owns 455 shares of the restaurant operator’s stock valued at $1,323,000 after buying an additional 159 shares during the last quarter. Finally, Sheaff Brock Investment Advisors LLC boosted its position in Chipotle Mexican Grill by 9.4% in the 1st quarter. Sheaff Brock Investment Advisors LLC now owns 186 shares of the restaurant operator’s stock valued at $541,000 after buying an additional 16 shares during the last quarter. 91.31% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have weighed in on CMG. The Goldman Sachs Group decreased their price objective on shares of Chipotle Mexican Grill from $74.60 to $67.00 and set a “buy” rating for the company in a research report on Thursday, July 25th. Wedbush reaffirmed an “outperform” rating and set a $69.00 price target on shares of Chipotle Mexican Grill in a research report on Wednesday, October 30th. Piper Sandler increased their price target on shares of Chipotle Mexican Grill from $59.00 to $60.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Evercore ISI increased their price target on shares of Chipotle Mexican Grill from $59.00 to $70.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 15th. Finally, Raymond James reduced their price target on shares of Chipotle Mexican Grill from $70.00 to $62.50 and set an “outperform” rating on the stock in a research report on Thursday, July 25th. Ten equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Chipotle Mexican Grill has a consensus rating of “Moderate Buy” and an average price target of $65.27.

Insider Buying and Selling

In related news, insider Curtis E. Garner sold 15,750 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $57.05, for a total value of $898,537.50. Following the completion of the transaction, the insider now owns 457,764 shares of the company’s stock, valued at approximately $26,115,436.20. This trade represents a 3.33 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Robin S. Hickenlooper sold 1,790 shares of Chipotle Mexican Grill stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $56.38, for a total transaction of $100,920.20. Following the sale, the director now directly owns 41,510 shares of the company’s stock, valued at $2,340,333.80. This trade represents a 4.13 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 33,290 shares of company stock worth $1,866,023. Corporate insiders own 1.02% of the company’s stock.

Chipotle Mexican Grill Price Performance

NYSE CMG opened at $60.01 on Friday. Chipotle Mexican Grill, Inc. has a 12 month low of $43.66 and a 12 month high of $69.26. The firm has a market capitalization of $81.77 billion, a PE ratio of 55.85, a P/E/G ratio of 2.36 and a beta of 1.26. The company’s 50 day simple moving average is $58.33 and its 200 day simple moving average is $80.95.

Chipotle Mexican Grill (NYSE:CMG) last issued its 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. The firm had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $2.82 billion. Chipotle Mexican Grill had a net margin of 13.51% and a return on equity of 43.20%. The firm’s revenue for the quarter was up 13.0% compared to the same quarter last year. During the same period last year, the firm posted $0.23 earnings per share. Sell-side analysts anticipate that Chipotle Mexican Grill, Inc. will post 1.11 earnings per share for the current fiscal year.

Chipotle Mexican Grill 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.