Fred Alger Management LLC Buys 236,695 Shares of Chipotle Mexican Grill, Inc. (NYSE:CMG)

Fred Alger Management LLC grew its stake in Chipotle Mexican Grill, Inc. (NYSE:CMG) by 4,841.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 241,584 shares of the restaurant operator’s stock after acquiring an additional 236,695 shares during the quarter. Fred Alger Management LLC’s holdings in Chipotle Mexican Grill were worth $15,135,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Peloton Wealth Strategists increased its position in shares of Chipotle Mexican Grill by 0.3% during the fourth quarter. Peloton Wealth Strategists now owns 1,451 shares of the restaurant operator’s stock valued at $3,318,000 after acquiring an additional 4 shares in the last quarter. Hazlett Burt & Watson Inc. boosted its stake in Chipotle Mexican Grill by 19.0% during the 1st quarter. Hazlett Burt & Watson Inc. now owns 25 shares of the restaurant operator’s stock valued at $73,000 after purchasing an additional 4 shares during the last quarter. Diversified Trust Co increased its holdings in shares of Chipotle Mexican Grill by 0.9% in the 1st quarter. Diversified Trust Co now owns 474 shares of the restaurant operator’s stock worth $1,378,000 after purchasing an additional 4 shares in the last quarter. Valley National Advisers Inc. raised its stake in shares of Chipotle Mexican Grill by 9.8% in the first quarter. Valley National Advisers Inc. now owns 45 shares of the restaurant operator’s stock worth $131,000 after purchasing an additional 4 shares during the last quarter. Finally, Scott & Selber Inc. lifted its holdings in shares of Chipotle Mexican Grill by 0.6% during the first quarter. Scott & Selber Inc. now owns 720 shares of the restaurant operator’s stock valued at $2,093,000 after purchasing an additional 4 shares in the last quarter. 91.31% of the stock is owned by hedge funds and other institutional investors.

Chipotle Mexican Grill Stock Performance

Shares of Chipotle Mexican Grill stock opened at $58.40 on Thursday. Chipotle Mexican Grill, Inc. has a fifty-two week low of $35.37 and a fifty-two week high of $69.26. The company has a market capitalization of $79.97 billion, a P/E ratio of 62.31, a P/E/G ratio of 2.43 and a beta of 1.25. The company has a fifty day moving average of $54.30 and a 200 day moving average of $81.28.

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

Analysts Set New Price Targets

A number of brokerages have weighed in on CMG. BMO Capital Markets decreased their target price on Chipotle Mexican Grill from $57.00 to $55.00 and set a “market perform” rating for the company in a research report on Thursday, July 25th. Oppenheimer decreased their price objective on shares of Chipotle Mexican Grill from $70.00 to $65.00 and set an “outperform” rating for the company in a report on Thursday, July 25th. Stephens restated an “equal weight” rating and set a $61.00 price objective on shares of Chipotle Mexican Grill in a research report on Tuesday, August 13th. KeyCorp cut their target price on shares of Chipotle Mexican Grill from $68.00 to $66.00 and set an “overweight” rating for the company in a research report on Thursday, July 25th. Finally, TD Cowen reissued a “buy” rating and set a $65.00 price target on shares of Chipotle Mexican Grill in a report on Thursday, September 12th. Ten research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $62.36.

Insiders Place Their Bets

In other news, Director Robin S. Hickenlooper sold 1,790 shares of Chipotle Mexican Grill stock in a transaction that occurred 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 owns 41,510 shares in the company, valued at $2,340,333.80. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, insider Curtis E. Garner sold 15,750 shares of the stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $55.02, for a total transaction of $866,565.00. Following the completion of the transaction, the insider now directly owns 473,514 shares of the company’s stock, valued at $26,052,740.28. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Robin S. Hickenlooper sold 1,790 shares of the firm’s stock in a transaction that occurred 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 transaction, the director now owns 41,510 shares of the company’s stock, valued at approximately $2,340,333.80. The disclosure for this sale can be found here. Insiders sold 34,934 shares of company stock worth $1,918,589 in the last three months. 1.02% of the stock is owned by company insiders.

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.