308,409 Chipotle Mexican Grill, Inc. $CMG Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. trimmed its position in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG) by 10.1% during the third quarter, HoldingsChannel reports. The fund owned 2,741,998 shares of the restaurant operator’s stock after selling 308,409 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Chipotle Mexican Grill were worth $87,607,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the company. Osbon Capital Management LLC acquired a new stake in Chipotle Mexican Grill in the second quarter valued at about $26,000. Meeder Asset Management Inc. purchased a new stake in Chipotle Mexican Grill in the 2nd quarter valued at approximately $27,000. Kelleher Financial Advisors purchased a new stake in Chipotle Mexican Grill in the 2nd quarter valued at approximately $28,000. Bell Investment Advisors Inc acquired a new position in Chipotle Mexican Grill during the 2nd quarter worth approximately $32,000. Finally, Rule One Partners LLC acquired a new position in Chipotle Mexican Grill during the 1st quarter worth approximately $32,000. 91.30% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CMG has been the subject of a number of analyst reports. Mizuho cut their target price on Chipotle Mexican Grill from $43.00 to $37.00 and set an “outperform” rating for the company in a research note on Friday, October 23rd. TD Cowen restated a “hold” rating and issued a $32.00 price target on shares of Chipotle Mexican Grill in a research note on Thursday, October 29th. Wells Fargo & Company decreased their price target on Chipotle Mexican Grill from $45.00 to $40.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 21st. Stephens reaffirmed an “equal weight” rating and set a $38.00 price objective on shares of Chipotle Mexican Grill in a report on Thursday, October 29th. Finally, Evercore reiterated an “outperform” rating and issued a $47.00 price objective (up from $45.00) on shares of Chipotle Mexican Grill in a research report on Thursday, July 30th. Twenty-seven equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Chipotle Mexican Grill has a consensus rating of “Moderate Buy” and an average price target of $42.36.

Insider Activity at Chipotle Mexican Grill

In other news, insider Matthew R. Bush sold 2,675 shares of the business’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 transaction of $95,631.25. Following the sale, the insider owned 21,415 shares of the company’s stock, valued at $765,586.25. The trade was a 11.10% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.45% of the stock is owned by company insiders.

Chipotle Mexican Grill Trading Up 3.1%

CMG stock opened at $32.88 on Tuesday. The company has a market cap of $41.61 billion, a P/E ratio of 30.73, a P/E/G ratio of 1.75 and a beta of 0.96. Chipotle Mexican Grill, Inc. has a 52 week low of $27.31 and a 52 week high of $41.42. The company’s 50-day moving average price is $32.99 and its 200 day moving average price is $34.09.

Chipotle Mexican Grill (NYSE:CMG) last issued its earnings results on Wednesday, October 28th. The restaurant operator reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.02). Chipotle Mexican Grill had a net margin of 10.83% and a return on equity of 56.91%. The company had revenue of $3.29 billion during the quarter, compared to analysts’ expectations of $3.29 billion. During the same period last year, the business posted $0.29 earnings per share. The company’s quarterly revenue was up 9.6% on a year-over-year basis. On average, equities research analysts expect that Chipotle Mexican Grill, Inc. will post 1.10 earnings per share for the current year.

About Chipotle Mexican Grill

Chipotle Mexican Grill, Inc (NYSE: CMG) operates a chain of fast-casual restaurants focused on Mexican-inspired food. Its menu includes burritos, burrito bowls, tacos, quesadillas and salads, with options such as chicken, steak, barbacoa, carnitas, sofritas and vegetables. The company emphasizes preparing food in its restaurants from ingredients it describes as responsibly sourced, including meats raised with attention to animal welfare and produce from selected suppliers.

Founded by Steve Ells in 1993, Chipotle opened its first restaurant in Denver, Colorado.