Shellback Capital LP Grows Position in Chipotle Mexican Grill, Inc. (NYSE:CMG)

Shellback Capital LP increased its stake in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG) by 4,900.0% in the second quarter, Holdings Channel.com reports. The fund owned 125,000 shares of the restaurant operator’s stock after purchasing an additional 122,500 shares during the period. Shellback Capital LP’s holdings in Chipotle Mexican Grill were worth $7,831,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. Steph & Co. purchased a new stake in shares of Chipotle Mexican Grill during the 1st quarter worth approximately $29,000. Semmax Financial Advisors Inc. increased its position in Chipotle Mexican Grill by 225.0% in the first quarter. Semmax Financial Advisors Inc. now owns 13 shares of the restaurant operator’s stock worth $42,000 after purchasing an additional 9 shares during the last quarter. Crewe Advisors LLC purchased a new stake in Chipotle Mexican Grill during the first quarter valued at $44,000. ICA Group Wealth Management LLC purchased a new position in shares of Chipotle Mexican Grill in the 4th quarter worth approximately $37,000. Finally, Westside Investment Management Inc. bought a new position in shares of Chipotle Mexican Grill during the 1st quarter valued at approximately $58,000. 91.31% of the stock is owned by hedge funds and other institutional investors.

Chipotle Mexican Grill Stock Performance

Chipotle Mexican Grill stock opened at $58.05 on Friday. The stock has a 50-day moving average of $54.45 and a two-hundred day moving average of $80.96. The stock has a market cap of $79.50 billion, a PE ratio of 61.94, a price-to-earnings-growth ratio of 2.43 and a beta of 1.25. Chipotle Mexican Grill, Inc. has a one year low of $35.37 and a one year high of $69.26.

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

Analysts Set New Price Targets

CMG has been the subject of several recent analyst reports. Wedbush reaffirmed an “outperform” rating and set a $58.00 price objective on shares of Chipotle Mexican Grill in a research note on Thursday, August 29th. The Goldman Sachs Group decreased their price target on shares of Chipotle Mexican Grill from $74.60 to $67.00 and set a “buy” rating for the company in a research note on Thursday, July 25th. JPMorgan Chase & Co. raised their price objective on Chipotle Mexican Grill from $55.00 to $60.00 and gave the stock a “neutral” rating in a report on Monday, June 3rd. Barclays lowered their target price 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, TD Cowen restated a “buy” rating and set a $65.00 price target on shares of Chipotle Mexican Grill in a research note on Thursday, September 12th. Ten investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $62.36.

Insider Activity

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