Chipotle Mexican Grill, Inc. (NYSE:CMG) Shares Sold by Magellan Asset Management Ltd

Magellan Asset Management Ltd trimmed its stake in Chipotle Mexican Grill, Inc. (NYSE:CMG) by 25.3% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 205,655 shares of the restaurant operator’s stock after selling 69,536 shares during the period. Chipotle Mexican Grill accounts for about 3.9% of Magellan Asset Management Ltd’s holdings, making the stock its 10th largest position. Magellan Asset Management Ltd’s holdings in Chipotle Mexican Grill were worth $439,896,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CMG. Horizon Bancorp Inc. IN increased its holdings in Chipotle Mexican Grill by 240.0% in the 2nd quarter. Horizon Bancorp Inc. IN now owns 17 shares of the restaurant operator’s stock valued at $36,000 after buying an additional 12 shares during the period. Addison Advisors LLC increased its stake in Chipotle Mexican Grill by 350.0% in the first quarter. Addison Advisors LLC now owns 18 shares of the restaurant operator’s stock valued at $31,000 after acquiring an additional 14 shares during the period. IMA Wealth Inc. raised its position in Chipotle Mexican Grill by 185.7% in the first quarter. IMA Wealth Inc. now owns 20 shares of the restaurant operator’s stock worth $34,000 after purchasing an additional 13 shares in the last quarter. Tradition Wealth Management LLC raised its position in Chipotle Mexican Grill by 320.0% in the first quarter. Tradition Wealth Management LLC now owns 21 shares of the restaurant operator’s stock worth $37,000 after purchasing an additional 16 shares in the last quarter. Finally, Arlington Partners LLC acquired a new stake in Chipotle Mexican Grill during the second quarter valued at approximately $51,000. 91.19% of the stock is currently owned by institutional investors.

Chipotle Mexican Grill Stock Up 0.6 %

NYSE CMG traded up $12.59 during trading on Tuesday, reaching $2,199.28. 45,413 shares of the stock traded hands, compared to its average volume of 277,092. Chipotle Mexican Grill, Inc. has a fifty-two week low of $1,344.05 and a fifty-two week high of $2,205.00. The firm has a market cap of $60.36 billion, a price-to-earnings ratio of 51.61, a price-to-earnings-growth ratio of 1.89 and a beta of 1.33. The stock’s 50-day moving average price is $1,928.96 and its 200 day moving average price is $1,981.86.

Chipotle Mexican Grill (NYSE:CMG) last announced its quarterly earnings results on Thursday, October 26th. The restaurant operator reported $11.36 earnings per share for the quarter, topping analysts’ consensus estimates of $10.46 by $0.90. Chipotle Mexican Grill had a net margin of 12.27% and a return on equity of 45.26%. The company had revenue of $2.47 billion for the quarter, compared to analysts’ expectations of $2.47 billion. During the same period last year, the firm posted $9.51 earnings per share. The business’s quarterly revenue was up 11.3% compared to the same quarter last year. Analysts anticipate that Chipotle Mexican Grill, Inc. will post 44.04 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on CMG shares. BMO Capital Markets dropped their target price on Chipotle Mexican Grill from $1,950.00 to $1,925.00 in a report on Thursday, July 27th. Morgan Stanley boosted their target price on shares of Chipotle Mexican Grill from $2,010.00 to $2,070.00 and gave the company an “equal weight” rating in a research note on Friday, October 27th. Wells Fargo & Company dropped their target price on shares of Chipotle Mexican Grill from $2,400.00 to $2,200.00 in a research report on Thursday, July 27th. Stifel Nicolaus reduced their price target on shares of Chipotle Mexican Grill from $2,250.00 to $2,150.00 in a research report on Thursday, July 27th. Finally, TD Cowen reaffirmed an “outperform” rating and set a $2,200.00 price objective on shares of Chipotle Mexican Grill in a research note on Friday, October 27th. Seven research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. Based on data from MarketBeat, Chipotle Mexican Grill currently has an average rating of “Moderate Buy” and a consensus target price of $2,161.33.

Insider Buying and Selling at Chipotle Mexican Grill

In other news, Director Patricia Filikrushel sold 57 shares of the firm’s stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $2,049.81, for a total transaction of $116,839.17. Following the sale, the director now owns 686 shares of the company’s stock, valued at $1,406,169.66. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, COO Scott Boatwright sold 1,423 shares of the business’s stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $2,042.02, for a total value of $2,905,794.46. Following the sale, the chief operating officer now directly owns 3,034 shares of the company’s stock, valued at approximately $6,195,488.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Patricia Filikrushel sold 57 shares of the stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $2,049.81, for a total value of $116,839.17. Following the transaction, the director now owns 686 shares of the company’s stock, valued at approximately $1,406,169.66. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,642 shares of company stock valued at $9,041,139. Company insiders own 0.96% of the company’s stock.

Chipotle Mexican Grill Profile

Chipotle Mexican Grill, Inc, together with its subsidiaries, owns and operates Chipotle Mexican Grill restaurants. It offers burritos, burrito bowls, quesadillas, tacos, and salads. The company was founded in 1993 and is headquartered in Newport Beach, California.