Quest Investment Management LLC Takes $1.68 Million Position in Chipotle Mexican Grill, Inc. (NYSE:CMG)

Quest Investment Management LLC acquired a new position in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 26,850 shares of the restaurant operator’s stock, valued at approximately $1,682,000.

Several other institutional investors have also made changes to their positions in the business. American Century Companies Inc. lifted its stake in Chipotle Mexican Grill by 4,732.3% during the second quarter. American Century Companies Inc. now owns 20,177,309 shares of the restaurant operator’s stock worth $1,264,109,000 after purchasing an additional 19,759,754 shares during the period. Massachusetts Financial Services Co. MA lifted its position in shares of Chipotle Mexican Grill by 5,930.8% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 10,310,132 shares of the restaurant operator’s stock worth $645,930,000 after buying an additional 10,139,174 shares during the period. Bank of New York Mellon Corp boosted its stake in Chipotle Mexican Grill by 4,816.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 8,356,173 shares of the restaurant operator’s stock valued at $523,514,000 after buying an additional 8,186,198 shares in the last quarter. William Blair Investment Management LLC grew its position in Chipotle Mexican Grill by 4,565.8% in the second quarter. William Blair Investment Management LLC now owns 5,078,767 shares of the restaurant operator’s stock valued at $318,185,000 after acquiring an additional 4,969,916 shares during the period. Finally, Renaissance Technologies LLC raised its stake in Chipotle Mexican Grill by 3,304.6% during the second quarter. Renaissance Technologies LLC now owns 5,078,100 shares of the restaurant operator’s stock worth $318,143,000 after acquiring an additional 4,928,945 shares in the last quarter. 91.31% of the stock is currently owned by institutional investors and hedge funds.

Chipotle Mexican Grill Stock Performance

CMG opened at $57.23 on Friday. Chipotle Mexican Grill, Inc. has a twelve month low of $35.37 and a twelve month high of $69.26. The firm has a market cap of $78.60 billion, a PE ratio of 60.88, a price-to-earnings-growth ratio of 2.33 and a beta of 1.25. The firm’s fifty day moving average is $54.26 and its two-hundred day moving average is $81.03.

Chipotle Mexican Grill (NYSE:CMG) last posted its earnings results on Wednesday, July 24th. The restaurant operator reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.02. Chipotle Mexican Grill had a return on equity of 44.01% and a net margin of 13.23%. The firm had revenue of $2.97 billion for the quarter, compared to analyst estimates of $2.94 billion. During the same period in the previous year, the company posted $12.65 earnings per share. The company’s revenue for the quarter was up 18.2% on a year-over-year basis. Equities analysts forecast that Chipotle Mexican Grill, Inc. will post 1.08 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Raymond James decreased their price objective on shares of Chipotle Mexican Grill from $70.00 to $62.50 and set an “outperform” rating on the stock in a research note on Thursday, July 25th. Evercore ISI dropped their price target on Chipotle Mexican Grill from $65.00 to $59.00 and set an “outperform” rating for the company in a report on Wednesday, August 14th. Loop Capital decreased their target price on Chipotle Mexican Grill from $58.00 to $53.00 and set a “hold” rating on the stock in a report on Thursday, July 25th. Barclays cut their price target on Chipotle Mexican Grill from $58.00 to $55.00 and set an “equal weight” rating for the company in a report on Thursday, July 25th. Finally, Citigroup decreased their price objective on shares of Chipotle Mexican Grill from $71.00 to $69.00 and set a “buy” rating on the stock in a report on Thursday, July 25th. Ten equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $62.36.

Insider Activity

In related news, insider Curtis E. Garner sold 17,394 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $54.68, for a total transaction of $951,103.92. Following the completion of the sale, the insider now directly owns 358,300 shares of the company’s stock, valued at approximately $19,591,844. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, Director Robin S. Hickenlooper sold 1,790 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $56.38, for a total value of $100,920.20. Following the sale, the director now directly owns 41,510 shares of the company’s stock, valued at approximately $2,340,333.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Curtis E. Garner sold 17,394 shares of the stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $54.68, for a total value of $951,103.92. Following the transaction, the insider now owns 358,300 shares of the company’s stock, valued at approximately $19,591,844. The disclosure for this sale can be found here. Insiders have sold 34,934 shares of company stock worth $1,918,589 in the last 90 days. Corporate insiders own 1.02% of the company’s stock.

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.