Sullivan Wood Capital Management LLC Sells 19,850 Shares of Chipotle Mexican Grill, Inc. $CMG

Sullivan Wood Capital Management LLC trimmed its holdings in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG) by 27.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 52,442 shares of the restaurant operator’s stock after selling 19,850 shares during the period. Chipotle Mexican Grill comprises approximately 2.5% of Sullivan Wood Capital Management LLC’s holdings, making the stock its 7th biggest holding. Sullivan Wood Capital Management LLC’s holdings in Chipotle Mexican Grill were worth $1,676,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. MV Capital Management Inc. acquired a new stake in Chipotle Mexican Grill during the 4th quarter valued at $26,000. Osbon Capital Management LLC purchased a new stake in Chipotle Mexican Grill during the 4th quarter worth about $28,000. Meeder Asset Management Inc. acquired a new position in Chipotle Mexican Grill in the 2nd quarter valued at about $27,000. Kelleher Financial Advisors purchased a new position in Chipotle Mexican Grill in the 2nd quarter valued at about $28,000. Finally, Merkkuri Wealth Advisors LLC purchased a new position in Chipotle Mexican Grill in the 1st quarter valued at about $28,000. 91.30% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Matthew R. Bush sold 2,675 shares of the firm’s stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $35.75, for a total value of $95,631.25. Following the sale, the insider owned 21,415 shares of the company’s stock, valued at approximately $765,586.25. This trade represents a 11.10% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.45% of the company’s stock.

Chipotle Mexican Grill Price Performance

NYSE:CMG traded up $0.01 during mid-day trading on Tuesday, reaching $30.41. The stock had a trading volume of 7,188,499 shares, compared to its average volume of 17,697,715. The company has a market capitalization of $38.49 billion, a price-to-earnings ratio of 27.90, a price-to-earnings-growth ratio of 1.93 and a beta of 0.96. The stock’s 50 day simple moving average is $34.24 and its two-hundred day simple moving average is $33.52. Chipotle Mexican Grill, Inc. has a 1-year low of $28.03 and a 1-year high of $42.81.

Chipotle Mexican Grill (NYSE:CMG) last posted its quarterly earnings results on Wednesday, July 29th. The restaurant operator reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.01. The business had revenue of $3.35 billion for the quarter, compared to analyst estimates of $3.33 billion. Chipotle Mexican Grill had a return on equity of 54.65% and a net margin of 11.43%. The business’s revenue was up 9.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.33 EPS. Sell-side analysts anticipate that Chipotle Mexican Grill, Inc. will post 1.14 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. JPMorgan Chase & Co. lowered their price target on shares of Chipotle Mexican Grill from $40.00 to $37.00 and set an “overweight” rating for the company in a report on Tuesday, September 29th. Piper Sandler reduced their target price on Chipotle Mexican Grill from $42.00 to $39.00 and set an “overweight” rating on the stock in a research report on Thursday, July 30th. TD Cowen reissued a “buy” rating and set a $44.00 price objective on shares of Chipotle Mexican Grill in a research note on Thursday, July 30th. Bank of America reissued a “buy” rating and set a $53.00 target price (up from $50.00) on shares of Chipotle Mexican Grill in a research report on Tuesday, September 1st. Finally, Robert W. Baird reissued a “neutral” rating and issued a $40.00 price objective (down from $44.00) on shares of Chipotle Mexican Grill in a research report on Monday, August 24th. Twenty-three analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $43.91.

More Chipotle Mexican Grill News

Here are the key news stories impacting Chipotle Mexican Grill this week:

• Positive Sentiment: Analysts continue to identify Chipotle as a sales-growth stock, citing strong revenue potential, cash flow and relatively favorable valuation metrics as third-quarter earnings season begins. 3 Sales Growth Stocks to Buy as Q3 Earnings Get Underway
• Positive Sentiment: Morningstar’s view that roughly $4 billion in planned capital investment could support long-term growth provides a constructive counterpoint to concerns about margin pressure and near-term spending. CMG Stock Ticks Higher Overnight
• Neutral Sentiment: Chipotle launched a limited-edition, oversized “Big Ass Chipotle Bag” to promote its digital Family Meals offering for four to six people. The campaign may generate attention and engagement, but its direct financial impact is likely limited. Chipotle Goes Big for Family Meals
• Negative Sentiment: Starbucks said it is not buying Chipotle, ending speculation that had lifted CMG shares on hopes of a takeover. The announcement triggered a sharp pullback as merger expectations disappeared. Starbucks Says It Is Not Buying Chipotle

Chipotle Mexican Grill Company Profile

Chipotle Mexican Grill, Inc is a fast-casual restaurant company that specializes in Mexican-inspired food made with a limited number of core ingredients. Its menu includes burritos, burrito bowls, tacos, quesadillas, salads and sides, with options such as chicken, steak, barbacoa, carnitas, sofritas and vegetables. The company also offers beverages, including soft drinks and other drinks, and allows customers to customize meals.

Founded by Steve Ells in 1993, Chipotle operates company-owned restaurants under the Chipotle Mexican Grill brand.