Connective Portfolio Management LLC Sells 5,125 Shares of Chipotle Mexican Grill, Inc. (NYSE:CMG)

Connective Portfolio Management LLC trimmed its stake in Chipotle Mexican Grill, Inc. (NYSE:CMG) by 28.5% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 12,875 shares of the restaurant operator’s stock after selling 5,125 shares during the period. Chipotle Mexican Grill accounts for about 2.2% of Connective Portfolio Management LLC’s investment portfolio, making the stock its 22nd largest position. Connective Portfolio Management LLC’s holdings in Chipotle Mexican Grill were worth $646,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the stock. Raymond James Financial Inc. bought a new position in Chipotle Mexican Grill in the 4th quarter worth approximately $315,220,000. Vinva Investment Management Ltd increased its position in Chipotle Mexican Grill by 50.6% in the 4th quarter. Vinva Investment Management Ltd now owns 65,069 shares of the restaurant operator’s stock worth $3,910,000 after buying an additional 21,864 shares during the period. Community Trust & Investment Co. bought a new position in Chipotle Mexican Grill in the 1st quarter worth approximately $7,773,000. K.J. Harrison & Partners Inc increased its position in Chipotle Mexican Grill by 46.7% in the 4th quarter. K.J. Harrison & Partners Inc now owns 50,250 shares of the restaurant operator’s stock worth $3,009,000 after buying an additional 16,000 shares during the period. Finally, Prakash Investment Advisors LLC bought a new position in Chipotle Mexican Grill in the 4th quarter worth approximately $434,000. 91.31% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on CMG shares. Truist Financial dropped their price target on Chipotle Mexican Grill from $74.00 to $61.00 and set a “buy” rating on the stock in a research report on Tuesday, April 22nd. Morgan Stanley dropped their price target on Chipotle Mexican Grill from $67.00 to $65.00 and set an “overweight” rating on the stock in a research report on Thursday, April 24th. Stephens reaffirmed an “equal weight” rating and issued a $49.00 price target on shares of Chipotle Mexican Grill in a research report on Monday, June 9th. TD Securities restated a “buy” rating and set a $57.00 price objective on shares of Chipotle Mexican Grill in a research report on Wednesday. Finally, UBS Group lowered their price objective on Chipotle Mexican Grill from $65.00 to $60.00 and set a “buy” rating on the stock in a research report on Thursday, April 24th. Ten investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Chipotle Mexican Grill has a consensus rating of “Moderate Buy” and an average price target of $60.79.

Insider Transactions at Chipotle Mexican Grill

In other news, insider Roger E. Theodoredis sold 113,875 shares of the business’s stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $49.70, for a total transaction of $5,659,587.50. Following the completion of the sale, the insider now owns 109,815 shares in the company, valued at $5,457,805.50. The trade was a 50.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.81% of the stock is currently owned by corporate insiders.

Chipotle Mexican Grill Stock Performance

Chipotle Mexican Grill stock opened at $52.81 on Friday. The firm has a market cap of $71.15 billion, a P/E ratio of 46.73, a P/E/G ratio of 2.57 and a beta of 1.06. The business’s fifty day moving average is $50.63 and its two-hundred day moving average is $54.01. Chipotle Mexican Grill, Inc. has a 52 week low of $44.46 and a 52 week high of $66.74.

Chipotle Mexican Grill (NYSE:CMG) last posted its quarterly earnings data on Wednesday, April 23rd. The restaurant operator reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.01. The company had revenue of $2.88 billion for the quarter, compared to analyst estimates of $2.98 billion. Chipotle Mexican Grill had a return on equity of 43.29% and a net margin of 13.59%. The business’s revenue was up 6.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $13.37 earnings per share. On average, equities research analysts predict that Chipotle Mexican Grill, Inc. will post 1.29 earnings per share for the current year.

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.