Ithaka Group LLC Lowers Stock Holdings in Chipotle Mexican Grill, Inc. (NYSE:CMG)

Ithaka Group LLC trimmed its holdings in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG - Free Report) by 6.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 311,530 shares of the restaurant operator's stock after selling 20,320 shares during the period. Chipotle Mexican Grill makes up about 3.4% of Ithaka Group LLC's portfolio, making the stock its 11th biggest position. Ithaka Group LLC's holdings in Chipotle Mexican Grill were worth $17,950,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in CMG. Clearbridge Investments LLC raised its position in Chipotle Mexican Grill by 1.0% during the first quarter. Clearbridge Investments LLC now owns 3,422 shares of the restaurant operator's stock valued at $9,947,000 after acquiring an additional 34 shares in the last quarter. CreativeOne Wealth LLC increased its holdings in shares of Chipotle Mexican Grill by 92.4% during the 1st quarter. CreativeOne Wealth LLC now owns 254 shares of the restaurant operator's stock valued at $738,000 after purchasing an additional 122 shares in the last quarter. Freestone Capital Holdings LLC boosted its holdings in Chipotle Mexican Grill by 5.4% during the first quarter. Freestone Capital Holdings LLC now owns 136 shares of the restaurant operator's stock worth $396,000 after buying an additional 7 shares in the last quarter. Advisors Asset Management Inc. boosted its holdings in Chipotle Mexican Grill by 53.7% during the first quarter. Advisors Asset Management Inc. now owns 455 shares of the restaurant operator's stock worth $1,323,000 after buying an additional 159 shares in the last quarter. Finally, Sheaff Brock Investment Advisors LLC grew its position in Chipotle Mexican Grill by 9.4% during the first quarter. Sheaff Brock Investment Advisors LLC now owns 186 shares of the restaurant operator's stock valued at $541,000 after buying an additional 16 shares during the period. Institutional investors and hedge funds own 91.31% of the company's stock.

Chipotle Mexican Grill Trading Up 3.4 %

Chipotle Mexican Grill stock traded up $2.03 during midday trading on Friday, hitting $62.01. 11,354,423 shares of the stock were exchanged, compared to its average volume of 13,725,726. The stock's 50-day simple moving average is $58.33 and its 200 day simple moving average is $80.95. Chipotle Mexican Grill, Inc. has a fifty-two week low of $43.66 and a fifty-two week high of $69.26. The stock has a market capitalization of $84.49 billion, a price-to-earnings ratio of 55.85, a PEG ratio of 2.36 and a beta of 1.26.

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The restaurant operator reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.02. The business had revenue of $2.79 billion during 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 business's revenue for the quarter was up 13.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.23 EPS. Equities analysts anticipate that Chipotle Mexican Grill, Inc. will post 1.11 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Robin S. Hickenlooper sold 1,790 shares of the business's stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $56.38, for a total value of $100,920.20. Following the sale, the director now directly owns 41,510 shares of the company's stock, valued at approximately $2,340,333.80. The trade was a 4.13 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Curtis E. Garner sold 15,750 shares of the stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $57.05, for a total transaction of $898,537.50. Following the transaction, the insider now directly owns 457,764 shares of the company's stock, valued at $26,115,436.20. The trade was a 3.33 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 33,290 shares of company stock valued at $1,866,023 over the last quarter. 1.02% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on CMG. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and set a $67.00 target price on shares of Chipotle Mexican Grill in a research note on Wednesday, August 14th. Royal Bank of Canada assumed coverage on Chipotle Mexican Grill in a research report on Friday, November 15th. They issued an "outperform" rating and a $70.00 price objective for the company. Raymond James dropped their price target on shares of Chipotle Mexican Grill from $70.00 to $62.50 and set an "outperform" rating on the stock in a research note on Thursday, July 25th. Truist Financial upped their price objective on shares of Chipotle Mexican Grill from $71.00 to $72.00 and gave the stock a "buy" rating in a research report on Wednesday, October 30th. Finally, TD Cowen lifted their target price on shares of Chipotle Mexican Grill from $65.00 to $68.00 and gave the company a "buy" rating in a research report on Wednesday, October 30th. Ten equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $65.27.

Chipotle Mexican Grill 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.