M&T Bank Corp Sells 6,690 Shares of Chipotle Mexican Grill, Inc. (NYSE:CMG)

M&T Bank Corp decreased its position in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG) by 3.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 215,760 shares of the restaurant operator’s stock after selling 6,690 shares during the period. M&T Bank Corp’s holdings in Chipotle Mexican Grill were worth $12,432,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in CMG. NINE MASTS CAPITAL Ltd bought a new stake in shares of Chipotle Mexican Grill in the 2nd quarter worth about $470,000. Blue Trust Inc. lifted its position in shares of Chipotle Mexican Grill by 137.3% during the second quarter. Blue Trust Inc. now owns 674 shares of the restaurant operator’s stock worth $42,000 after purchasing an additional 390 shares during the last quarter. LRI Investments LLC increased its position in shares of Chipotle Mexican Grill by 4,242.3% during the second quarter. LRI Investments LLC now owns 2,258 shares of the restaurant operator’s stock worth $141,000 after acquiring an additional 2,206 shares during the period. Independence Bank of Kentucky raised its position in Chipotle Mexican Grill by 4,130.8% during the 2nd quarter. Independence Bank of Kentucky now owns 550 shares of the restaurant operator’s stock valued at $34,000 after purchasing an additional 537 shares in the last quarter. Finally, Capital Advisors Ltd. LLC lifted its stake in Chipotle Mexican Grill by 5,446.9% in the second quarter. Capital Advisors Ltd. LLC now owns 3,550 shares of the restaurant operator’s stock worth $222,000 after acquiring an additional 3,486 shares during the period. 91.31% of the stock is owned by institutional investors.

Insider Buying and Selling at Chipotle Mexican Grill

In other news, insider Laurie Schalow sold 4,404 shares of the firm’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $65.01, for a total value of $286,304.04. Following the completion of the sale, the insider now owns 185,792 shares in the company, valued at approximately $12,078,337.92. This trade represents a 2.32 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Curtis E. Garner sold 15,750 shares of the company’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $57.05, for a total value of $898,537.50. Following the transaction, the insider now directly owns 457,764 shares in the company, valued at $26,115,436.20. This represents a 3.33 % decrease in their position. The disclosure for this sale can be found here. 1.02% of the stock is owned by company insiders.

Analysts Set New Price Targets

CMG has been the subject of several analyst reports. Robert W. Baird increased their price objective on Chipotle Mexican Grill from $62.00 to $70.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Piper Sandler increased their price target on Chipotle Mexican Grill from $59.00 to $60.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Oppenheimer reaffirmed an “outperform” rating and set a $65.00 target price on shares of Chipotle Mexican Grill in a report on Monday, September 30th. TD Cowen raised their price target on shares of Chipotle Mexican Grill from $65.00 to $68.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Finally, Stephens reiterated an “equal weight” rating and issued a $65.00 price objective on shares of Chipotle Mexican Grill in a research report on Tuesday, November 12th. Ten research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat.com, Chipotle Mexican Grill has a consensus rating of “Moderate Buy” and a consensus price target of $66.55.

Chipotle Mexican Grill Price Performance

NYSE:CMG opened at $61.87 on Friday. The firm has a market capitalization of $84.30 billion, a PE ratio of 57.59, a price-to-earnings-growth ratio of 2.64 and a beta of 1.27. The business’s fifty day moving average price is $60.69 and its 200 day moving average price is $81.09. Chipotle Mexican Grill, Inc. has a 12 month low of $44.08 and a 12 month high of $69.26.

Chipotle Mexican Grill (NYSE:CMG) last posted its earnings results on Tuesday, October 29th. The restaurant operator reported $0.27 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.02. The firm had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.82 billion. Chipotle Mexican Grill had a net margin of 13.51% and a return on equity of 43.20%. The company’s revenue was up 13.0% on a year-over-year basis. During the same period last year, the firm posted $0.23 EPS. As a group, equities analysts anticipate that Chipotle Mexican Grill, Inc. will post 1.11 EPS for the current year.

About Chipotle Mexican Grill

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.