91,460 Chipotle Mexican Grill, Inc. $CMG Shares Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA reduced its holdings in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG) by 11.2% during the third quarter, HoldingsChannel reports. The firm owned 724,587 shares of the restaurant operator’s stock after selling 91,460 shares during the period. Pictet Asset Management Holding SA’s holdings in Chipotle Mexican Grill were worth $23,151,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Parallel Advisors LLC lifted its stake in Chipotle Mexican Grill by 51.1% during the 3rd quarter. Parallel Advisors LLC now owns 14,091 shares of the restaurant operator’s stock valued at $450,000 after acquiring an additional 4,768 shares during the period. United Advisor Group LLC boosted its holdings in shares of Chipotle Mexican Grill by 9.7% during the 3rd quarter. United Advisor Group LLC now owns 11,157 shares of the restaurant operator’s stock valued at $356,000 after acquiring an additional 987 shares during the last quarter. Waycross Partners LLC bought a new stake in shares of Chipotle Mexican Grill in the third quarter worth approximately $1,073,000. International Assets Investment Management LLC grew its stake in shares of Chipotle Mexican Grill by 69.6% in the third quarter. International Assets Investment Management LLC now owns 10,436 shares of the restaurant operator’s stock worth $337,000 after acquiring an additional 4,283 shares during the period. Finally, Heritage Family Offices LLP bought a new stake in shares of Chipotle Mexican Grill in the third quarter worth approximately $26,000. 91.30% of the stock is owned by hedge funds and other institutional investors.

Chipotle Mexican Grill Trading Up 1.8%

CMG opened at $36.57 on Thursday. The firm’s 50 day simple moving average is $32.64 and its two-hundred day simple moving average is $33.92. The company has a market capitalization of $46.26 billion, a PE ratio of 34.18, a PEG ratio of 2.37 and a beta of 1.00. Chipotle Mexican Grill, Inc. has a 1-year low of $27.31 and a 1-year high of $41.42.

Chipotle Mexican Grill (NYSE:CMG) last issued its quarterly earnings data on Wednesday, October 28th. The restaurant operator reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.02). The business had revenue of $3.29 billion for the quarter, compared to the consensus estimate of $3.29 billion. Chipotle Mexican Grill had a net margin of 10.83% and a return on equity of 57.05%. The company’s revenue was up 9.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.29 EPS. Equities analysts forecast that Chipotle Mexican Grill, Inc. will post 1.10 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Chipotle Mexican Grill news, insider Matthew R. Bush sold 2,675 shares of the business’s stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $35.75, for a total transaction of $95,631.25. Following the completion of the sale, the insider owned 21,415 shares of the company’s stock, valued at approximately $765,586.25. The trade was a 11.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.45% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CMG. UBS Group reissued a “buy” rating on shares of Chipotle Mexican Grill in a report on Friday, October 9th. Bank of America restated a “buy” rating and issued a $53.00 target price (up from $50.00) on shares of Chipotle Mexican Grill in a report on Tuesday, September 1st. DA Davidson reaffirmed a “buy” rating and issued a $45.00 target price on shares of Chipotle Mexican Grill in a research report on Thursday, October 29th. Raymond James Financial reaffirmed an “outperform” rating on shares of Chipotle Mexican Grill in a research report on Thursday, October 29th. Finally, Argus boosted their target price on shares of Chipotle Mexican Grill from $40.00 to $45.00 and gave the company a “buy” rating in a research note on Tuesday, August 4th. Twenty-seven research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $42.36.

Chipotle Mexican Grill Company Profile

Chipotle Mexican Grill is a fast-casual restaurant company that serves Mexican-inspired food, including burritos, bowls, tacos and salads. Customers can customize meals with ingredients such as rice, beans, meats, vegetables, salsas and guacamole. Founded by Steve Ells in Denver, Colorado, in 1993, Chipotle built its business around preparing food in restaurant kitchens and emphasizing ingredients it describes as responsibly sourced. The company primarily operates its own restaurants, rather than relying on a franchise model.