Avity Investment Management Inc. Invests $28.60 Million in Chipotle Mexican Grill, Inc. (NYSE:CMG)

Avity Investment Management Inc. acquired a new position in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 474,302 shares of the restaurant operator's stock, valued at approximately $28,600,000. Chipotle Mexican Grill makes up approximately 2.2% of Avity Investment Management Inc.'s holdings, making the stock its 23rd biggest position.

Other institutional investors and hedge funds have also made changes to their positions in the company. Geode Capital Management LLC grew its holdings in shares of Chipotle Mexican Grill by 1.6% during the third quarter. Geode Capital Management LLC now owns 28,080,978 shares of the restaurant operator's stock worth $1,612,682,000 after buying an additional 438,007 shares during the last quarter. Franklin Resources Inc. lifted its holdings in shares of Chipotle Mexican Grill by 2.9% in the third quarter. Franklin Resources Inc. now owns 13,661,937 shares of the restaurant operator's stock valued at $805,692,000 after purchasing an additional 381,873 shares in the last quarter. Legal & General Group Plc grew its holdings in Chipotle Mexican Grill by 5,209.5% during the 2nd quarter. Legal & General Group Plc now owns 10,935,669 shares of the restaurant operator's stock valued at $685,128,000 after buying an additional 10,729,706 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in Chipotle Mexican Grill by 5,930.8% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 10,310,132 shares of the restaurant operator's stock worth $645,930,000 after purchasing an additional 10,139,174 shares in the last quarter. Finally, Janus Henderson Group PLC grew its holdings in shares of Chipotle Mexican Grill by 5.6% during the third quarter. Janus Henderson Group PLC now owns 9,830,644 shares of the restaurant operator's stock worth $566,439,000 after buying an additional 518,521 shares in the last quarter. 91.31% of the stock is owned by institutional investors and hedge funds.

Chipotle Mexican Grill Trading Up 1.6 %

NYSE:CMG traded up $0.92 during trading hours on Wednesday, reaching $57.36. 10,490,168 shares of the company traded hands, compared to its average volume of 8,357,390. The stock has a market capitalization of $78.16 billion, a P/E ratio of 53.39, a P/E/G ratio of 2.64 and a beta of 1.27. The business's 50-day moving average price is $60.94 and its two-hundred day moving average price is $57.91. Chipotle Mexican Grill, Inc. has a 1 year low of $45.50 and a 1 year high of $69.26.

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) last released its quarterly earnings data on Tuesday, October 29th. The restaurant operator reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.02. The firm had revenue of $2.79 billion for the quarter, compared to analysts' expectations of $2.82 billion. Chipotle Mexican Grill had a net margin of 13.51% and a return on equity of 43.20%. The company's revenue for the quarter was up 13.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.23 earnings per share. As a group, equities analysts anticipate that Chipotle Mexican Grill, Inc. will post 1.11 EPS for the current year.

Insiders Place Their Bets

In other news, insider Laurie Schalow sold 4,404 shares of Chipotle Mexican Grill stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $65.01, for a total value of $286,304.04. Following the completion of the transaction, the insider now owns 185,792 shares in the company, valued at approximately $12,078,337.92. The trade was a 2.32 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.02% of the company's stock.

Analysts Set New Price Targets

CMG has been the topic of a number of research analyst reports. Evercore ISI lifted their price target on shares of Chipotle Mexican Grill from $70.00 to $72.00 and gave the company an "outperform" rating in a report on Thursday, December 5th. Royal Bank of Canada raised their price target on shares of Chipotle Mexican Grill from $70.00 to $75.00 and gave the company an "outperform" rating in a report on Tuesday, December 17th. Piper Sandler increased their price objective on shares of Chipotle Mexican Grill from $59.00 to $60.00 and gave the company a "neutral" rating in a research note on Wednesday, October 30th. BMO Capital Markets boosted their price target on Chipotle Mexican Grill from $55.00 to $56.00 and gave the company a "market perform" rating in a report on Wednesday, October 30th. Finally, Citigroup cut their target price on shares of Chipotle Mexican Grill from $71.00 to $70.00 and set a "buy" rating on the stock in a report on Wednesday, October 30th. Ten research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Chipotle Mexican Grill has an average rating of "Moderate Buy" and a consensus price target of $66.81.

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.