Dark Forest Capital Management LP Raises Position in Chipotle Mexican Grill, Inc. (NYSE:CMG)

Dark Forest Capital Management LP lifted its stake in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG) by 5,893.5% during the second quarter, Holdings Channel reports. The fund owned 12,886 shares of the restaurant operator’s stock after acquiring an additional 12,671 shares during the period. Dark Forest Capital Management LP’s holdings in Chipotle Mexican Grill were worth $807,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Chipotle Mexican Grill during the 2nd quarter worth about $25,000. Riverview Trust Co grew its position in shares of Chipotle Mexican Grill by 4,900.0% during the second quarter. Riverview Trust Co now owns 400 shares of the restaurant operator’s stock worth $25,000 after buying an additional 392 shares in the last quarter. RiverPark Advisors LLC increased its stake in shares of Chipotle Mexican Grill by 4,900.0% during the second quarter. RiverPark Advisors LLC now owns 400 shares of the restaurant operator’s stock worth $25,000 after buying an additional 392 shares during the period. Archer Investment Corp acquired a new stake in Chipotle Mexican Grill in the second quarter valued at approximately $25,000. Finally, Chilton Capital Management LLC purchased a new position in Chipotle Mexican Grill in the second quarter worth approximately $27,000. 91.31% of the stock is currently owned by institutional investors and hedge funds.

Chipotle Mexican Grill Trading Down 0.6 %

Shares of CMG stock opened at $58.05 on Friday. The company has a market capitalization of $79.50 billion, a P/E ratio of 61.93, a price-to-earnings-growth ratio of 2.43 and a beta of 1.25. The business’s 50 day moving average is $54.36 and its two-hundred day moving average is $81.12. Chipotle Mexican Grill, Inc. has a twelve month low of $35.37 and a twelve month high of $69.26.

Chipotle Mexican Grill (NYSE:CMG) last posted 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%. Chipotle Mexican Grill’s quarterly revenue was up 18.2% on a year-over-year basis. During the same period last year, the firm posted $12.65 EPS. As a group, equities analysts predict that Chipotle Mexican Grill, Inc. will post 1.08 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Curtis E. Garner sold 17,394 shares of the firm’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 sale, the insider now owns 358,300 shares in the company, valued at $19,591,844. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other 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 transaction, the insider now directly owns 358,300 shares of the company’s stock, valued at approximately $19,591,844. The sale was disclosed in a document filed with the SEC, which is accessible 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 completion of the sale, the director now directly owns 41,510 shares of the company’s stock, valued at $2,340,333.80. The disclosure for this sale can be found here. Insiders have sold a total of 34,934 shares of company stock valued at $1,918,589 over the last quarter. Corporate insiders own 1.02% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Stephens reissued an “equal weight” rating and issued a $61.00 price objective on shares of Chipotle Mexican Grill in a research report on Tuesday, August 13th. KeyCorp dropped their target price on Chipotle Mexican Grill from $68.00 to $66.00 and set an “overweight” rating on the stock in a report on Thursday, July 25th. Piper Sandler decreased their price target on Chipotle Mexican Grill from $61.00 to $56.00 and set a “neutral” rating for the company in a report on Thursday, July 25th. TD Cowen reiterated a “buy” rating and issued a $65.00 price objective on shares of Chipotle Mexican Grill in a report on Thursday, September 12th. Finally, 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 note on Thursday, July 25th. Ten equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Chipotle Mexican Grill has an average rating of “Moderate Buy” and a consensus price target of $62.36.

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.