Connective Portfolio Management LLC Has $1.03 Million Stock Holdings in Chipotle Mexican Grill, Inc. (NYSE:CMG)

Connective Portfolio Management LLC reduced its stake in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG) by 10.0% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 18,000 shares of the restaurant operator’s stock after selling 2,000 shares during the period. Chipotle Mexican Grill makes up 1.1% of Connective Portfolio Management LLC’s investment portfolio, making the stock its 22nd biggest position. Connective Portfolio Management LLC’s holdings in Chipotle Mexican Grill were worth $1,029,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Shellback Capital LP raised its holdings in shares of Chipotle Mexican Grill by 4,900.0% during the 2nd quarter. Shellback Capital LP now owns 125,000 shares of the restaurant operator’s stock worth $7,831,000 after buying an additional 122,500 shares in the last quarter. Swedbank AB acquired a new position in Chipotle Mexican Grill during the first quarter worth about $53,979,000. Transform Wealth LLC lifted its holdings in shares of Chipotle Mexican Grill by 4,760.7% in the second quarter. Transform Wealth LLC now owns 9,527 shares of the restaurant operator’s stock worth $597,000 after acquiring an additional 9,331 shares during the last quarter. First Hawaiian Bank boosted its stake in shares of Chipotle Mexican Grill by 4,731.0% in the 2nd quarter. First Hawaiian Bank now owns 17,150 shares of the restaurant operator’s stock valued at $1,074,000 after purchasing an additional 16,795 shares in the last quarter. Finally, Valeo Financial Advisors LLC grew its holdings in shares of Chipotle Mexican Grill by 4,747.7% during the 2nd quarter. Valeo Financial Advisors LLC now owns 20,409 shares of the restaurant operator’s stock valued at $1,279,000 after purchasing an additional 19,988 shares during the last quarter. Institutional investors own 91.31% of the company’s stock.

Chipotle Mexican Grill Stock Down 0.2 %

CMG traded down $0.13 during midday trading on Wednesday, hitting $57.85. The company had a trading volume of 872,196 shares, compared to its average volume of 14,290,787. The company has a market capitalization of $79.45 billion, a price-to-earnings ratio of 61.69, a PEG ratio of 2.43 and a beta of 1.25. The stock’s 50 day moving average price is $55.31 and its 200 day moving average price is $81.40. Chipotle Mexican Grill, Inc. has a 52 week low of $35.37 and a 52 week high of $69.26.

Chipotle Mexican Grill (NYSE:CMG) last announced its quarterly earnings results on Wednesday, July 24th. The restaurant operator reported $0.34 earnings per share (EPS) 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 business had revenue of $2.97 billion for the quarter, compared to analyst estimates of $2.94 billion. During the same quarter in the prior year, the company earned $12.65 earnings per share. The company’s quarterly revenue was up 18.2% on a year-over-year basis. Research analysts predict that Chipotle Mexican Grill, Inc. will post 1.08 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on CMG shares. StockNews.com downgraded shares of Chipotle Mexican Grill from a “buy” rating to a “hold” rating in a research note on Thursday, July 4th. Piper Sandler reduced their price objective on Chipotle Mexican Grill from $61.00 to $56.00 and set a “neutral” rating on the stock in a research report on Thursday, July 25th. Stephens reiterated an “equal weight” rating and issued a $61.00 target price on shares of Chipotle Mexican Grill in a research report on Tuesday, August 13th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $70.00 price objective on shares of Chipotle Mexican Grill in a research note on Wednesday, August 14th. Finally, TD Cowen reiterated a “buy” rating and set a $65.00 target price on shares of Chipotle Mexican Grill in a research report on Thursday, September 12th. Ten equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to data from MarketBeat, Chipotle Mexican Grill currently has an average rating of “Moderate Buy” and a consensus target price of $62.44.

Insider Buying and Selling

In other Chipotle Mexican Grill news, insider Curtis E. Garner sold 17,394 shares of the company’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $54.68, for a total transaction of $951,103.92. Following the transaction, the insider now owns 358,300 shares in the company, valued at approximately $19,591,844. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, 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 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 $19,591,844. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Robin S. Hickenlooper sold 1,790 shares of the firm’s stock in a transaction dated 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 transaction, the director now directly owns 41,510 shares in the company, valued at approximately $2,340,333.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 50,684 shares of company stock worth $2,817,127 in the last ninety days. Corporate insiders own 1.02% of the company’s stock.

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.