Pitcairn Co. Lowers Stake in Chipotle Mexican Grill, Inc. (NYSE:CMG)

Pitcairn Co. cut its stake in Chipotle Mexican Grill, Inc. (NYSE:CMG) by 12.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,719 shares of the restaurant operator’s stock after selling 1,085 shares during the quarter. Pitcairn Co.’s holdings in Chipotle Mexican Grill were worth $445,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Shellback Capital LP raised its holdings in Chipotle Mexican Grill by 4,900.0% in the second quarter. Shellback Capital LP now owns 125,000 shares of the restaurant operator’s stock worth $7,831,000 after purchasing an additional 122,500 shares in the last quarter. Swedbank AB bought a new position in shares of Chipotle Mexican Grill during the 1st quarter worth approximately $53,979,000. Optas LLC lifted its position in Chipotle Mexican Grill by 318.5% during the third quarter. Optas LLC now owns 17,160 shares of the restaurant operator’s stock valued at $989,000 after acquiring an additional 13,060 shares during the last quarter. L & S Advisors Inc acquired a new stake in Chipotle Mexican Grill in the third quarter valued at approximately $3,256,000. Finally, Savvy Advisors Inc. purchased a new position in Chipotle Mexican Grill in the third quarter worth $758,000. 91.31% of the stock is owned by institutional investors.

Chipotle Mexican Grill Trading Up 1.1 %

Shares of CMG stock opened at $62.70 on Wednesday. The company has a market capitalization of $85.43 billion, a P/E ratio of 58.36, a P/E/G ratio of 2.49 and a beta of 1.26. Chipotle Mexican Grill, Inc. has a 12-month low of $43.66 and a 12-month high of $69.26. The business’s 50 day moving average is $58.62 and its two-hundred day moving average is $81.14.

Chipotle Mexican Grill (NYSE:CMG) last announced its earnings results on Tuesday, October 29th. The restaurant operator reported $0.27 earnings per share (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 analyst estimates of $2.82 billion. Chipotle Mexican Grill had a return on equity of 43.20% and a net margin of 13.51%. The business’s revenue was up 13.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.23 EPS. On average, research analysts predict that Chipotle Mexican Grill, Inc. will post 1.11 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently commented on CMG shares. Loop Capital increased their price objective on Chipotle Mexican Grill from $53.00 to $58.00 and gave the company a “hold” rating in a report on Wednesday, October 30th. Stephens reaffirmed an “equal weight” rating and issued a $65.00 price target on shares of Chipotle Mexican Grill in a report on Tuesday, November 12th. Wedbush reaffirmed an “outperform” rating and set a $69.00 price target on shares of Chipotle Mexican Grill in a research report on Wednesday, October 30th. Wells Fargo & Company increased their price objective on Chipotle Mexican Grill from $66.00 to $67.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Finally, Royal Bank of Canada assumed coverage on Chipotle Mexican Grill in a report on Friday, November 15th. They set an “outperform” rating and a $70.00 target price for the company. Ten equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $65.27.

Insider Activity

In other Chipotle Mexican Grill news, Director Robin S. Hickenlooper sold 1,790 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was 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 owns 41,510 shares of the company’s stock, valued at $2,340,333.80. This represents a 4.13 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Curtis E. Garner sold 15,750 shares of Chipotle Mexican Grill stock in a transaction that occurred 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 completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 33,290 shares of company stock worth $1,866,023 over the last 90 days. 1.02% of the stock is currently owned by company insiders.

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.