Fred Alger Management LLC Sells 48,387 Shares of Chipotle Mexican Grill, Inc. (NYSE:CMG)

Fred Alger Management LLC decreased its stake in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG) by 20.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 193,197 shares of the restaurant operator’s stock after selling 48,387 shares during the period. Fred Alger Management LLC’s holdings in Chipotle Mexican Grill were worth $11,132,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CMG. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Chipotle Mexican Grill during the 2nd quarter valued at about $25,000. Riverview Trust Co boosted its holdings in shares of Chipotle Mexican Grill by 4,900.0% in 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 during the last quarter. RiverPark Advisors LLC grew its position in Chipotle Mexican Grill by 4,900.0% during the second quarter. RiverPark Advisors LLC now owns 400 shares of the restaurant operator’s stock valued at $25,000 after buying an additional 392 shares during the period. Archer Investment Corp purchased a new stake in Chipotle Mexican Grill during the second quarter valued at approximately $25,000. Finally, Oliver Lagore Vanvalin Investment Group increased its holdings in Chipotle Mexican Grill by 4,900.0% during the second quarter. Oliver Lagore Vanvalin Investment Group now owns 400 shares of the restaurant operator’s stock valued at $25,000 after buying an additional 392 shares during the last quarter. Hedge funds and other institutional investors own 91.31% of the company’s stock.

Chipotle Mexican Grill Price Performance

NYSE CMG opened at $61.52 on Friday. Chipotle Mexican Grill, Inc. has a 1-year low of $43.66 and a 1-year high of $69.26. The business has a 50 day simple moving average of $58.89 and a two-hundred day simple moving average of $80.86. The stock has a market capitalization of $83.83 billion, a PE ratio of 57.26, a P/E/G ratio of 2.50 and a beta of 1.26.

Chipotle Mexican Grill (NYSE:CMG) last posted its earnings results on Tuesday, October 29th. The restaurant operator reported $0.27 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.02. Chipotle Mexican Grill had a return on equity of 43.20% and a net margin of 13.51%. The firm had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.82 billion. During the same period in the prior year, the company earned $0.23 EPS. The company’s quarterly revenue was up 13.0% compared to the same quarter last year. On average, analysts anticipate that Chipotle Mexican Grill, Inc. will post 1.11 EPS for the current fiscal year.

Insiders Place Their Bets

In other Chipotle Mexican Grill news, Director Robin S. Hickenlooper sold 1,790 shares of the company’s 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 sale, the director now directly owns 41,510 shares in the company, valued at $2,340,333.80. This represents a 4.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. 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 transaction, the insider now owns 457,764 shares of the company’s stock, valued at approximately $26,115,436.20. This trade represents a 3.33 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 33,290 shares of company stock valued at $1,866,023 in the last three months. Corporate insiders own 1.02% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on CMG. BMO Capital Markets lifted their price target on shares of Chipotle Mexican Grill from $55.00 to $56.00 and gave the stock a “market perform” rating in a research note on Wednesday, October 30th. Oppenheimer reiterated an “outperform” rating and set a $65.00 target price on shares of Chipotle Mexican Grill in a research report on Monday, September 30th. Robert W. Baird upped their price target on Chipotle Mexican Grill from $62.00 to $70.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Piper Sandler raised their price objective on Chipotle Mexican Grill from $59.00 to $60.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Finally, TD Cowen boosted their price objective on Chipotle Mexican Grill from $65.00 to $68.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Ten research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $65.27.

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.