Avity Investment Management Inc. Lowers Position in Chipotle Mexican Grill, Inc. (NYSE:CMG)

Avity Investment Management Inc. reduced its stake in Chipotle Mexican Grill, Inc. (NYSE:CMG) by 1.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 466,399 shares of the restaurant operator’s stock after selling 7,903 shares during the quarter. Chipotle Mexican Grill makes up 1.9% of Avity Investment Management Inc.’s investment portfolio, making the stock its 26th largest holding. Avity Investment Management Inc.’s holdings in Chipotle Mexican Grill were worth $23,418,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Alliancebernstein L.P. grew its stake in Chipotle Mexican Grill by 29.5% in the 4th quarter. Alliancebernstein L.P. now owns 30,100,520 shares of the restaurant operator’s stock valued at $1,815,061,000 after purchasing an additional 6,853,470 shares during the period. Geode Capital Management LLC grew its stake in Chipotle Mexican Grill by 1.4% in the 4th quarter. Geode Capital Management LLC now owns 28,476,031 shares of the restaurant operator’s stock valued at $1,712,238,000 after purchasing an additional 395,053 shares during the period. American Century Companies Inc. grew its stake in Chipotle Mexican Grill by 0.8% in the 4th quarter. American Century Companies Inc. now owns 20,236,980 shares of the restaurant operator’s stock valued at $1,220,290,000 after purchasing an additional 166,767 shares during the period. Norges Bank bought a new position in Chipotle Mexican Grill in the 4th quarter valued at $1,093,345,000. Finally, Northern Trust Corp grew its stake in Chipotle Mexican Grill by 11.1% in the 4th quarter. Northern Trust Corp now owns 14,443,085 shares of the restaurant operator’s stock valued at $870,918,000 after purchasing an additional 1,438,860 shares during the period. 91.31% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Chipotle Mexican Grill news, insider Roger E. Theodoredis sold 113,875 shares of the firm’s stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $49.70, for a total value of $5,659,587.50. Following the sale, the insider now owns 109,815 shares of the company’s stock, valued at $5,457,805.50. This trade represents a 50.91% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.81% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Morgan Stanley reduced their price objective on Chipotle Mexican Grill from $67.00 to $65.00 and set an “overweight” rating for the company in a research note on Thursday, April 24th. UBS Group reduced their price objective on Chipotle Mexican Grill from $65.00 to $60.00 and set a “buy” rating for the company in a research note on Thursday, April 24th. Truist Financial reduced their price objective on Chipotle Mexican Grill from $74.00 to $61.00 and set a “buy” rating for the company in a research note on Tuesday, April 22nd. KeyCorp cut their price target on Chipotle Mexican Grill from $60.00 to $58.00 and set an “overweight” rating for the company in a research note on Thursday, April 24th. Finally, Royal Bank of Canada cut their price target on Chipotle Mexican Grill from $65.00 to $60.00 and set an “outperform” rating for the company in a research note on Thursday, April 24th. Nine research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $61.60.

Chipotle Mexican Grill Stock Up 0.8%

Shares of NYSE CMG opened at $52.58 on Friday. Chipotle Mexican Grill, Inc. has a 52 week low of $44.46 and a 52 week high of $69.26. The business has a 50-day simple moving average of $50.11 and a two-hundred day simple moving average of $54.73. The company has a market cap of $70.84 billion, a P/E ratio of 47.36, a P/E/G ratio of 2.04 and a beta of 1.06.

Chipotle Mexican Grill (NYSE:CMG) last issued its earnings results on Wednesday, April 23rd. The restaurant operator reported $0.29 EPS for the quarter, topping the consensus estimate of $0.28 by $0.01. Chipotle Mexican Grill had a return on equity of 42.92% and a net margin of 13.56%. The business had revenue of $2.88 billion during the quarter, compared to the consensus estimate of $2.98 billion. During the same quarter last year, the company earned $13.37 EPS. The firm’s revenue was up 6.4% compared to the same quarter last year. Equities research analysts anticipate that Chipotle Mexican Grill, Inc. will post 1.29 EPS for the current year.

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.