Ballast Advisors LLC Reduces Stake in Chipotle Mexican Grill, Inc. (NYSE:CMG)

Ballast Advisors LLC trimmed its holdings in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG) by 3.1% during the third quarter, Holdings Channel reports. The fund owned 21,535 shares of the restaurant operator’s stock after selling 695 shares during the quarter. Ballast Advisors LLC’s holdings in Chipotle Mexican Grill were worth $1,241,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. American Century Companies Inc. grew its position in shares of Chipotle Mexican Grill by 4,732.3% in the second quarter. American Century Companies Inc. now owns 20,177,309 shares of the restaurant operator’s stock valued at $1,264,109,000 after purchasing an additional 19,759,754 shares during the last quarter. Legal & General Group Plc increased its stake in shares of 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 worth $685,128,000 after purchasing 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 buying an additional 10,139,174 shares during the period. Bank of New York Mellon Corp increased its stake in Chipotle Mexican Grill by 4,816.1% in the second quarter. Bank of New York Mellon Corp now owns 8,356,173 shares of the restaurant operator’s stock valued at $523,514,000 after acquiring an additional 8,186,198 shares during the last quarter. Finally, Marshall Wace LLP grew its position in Chipotle Mexican Grill by 76,617.6% during the 2nd quarter. Marshall Wace LLP now owns 5,904,952 shares of the restaurant operator’s stock worth $369,945,000 after acquiring an additional 5,897,255 shares during the last quarter. 91.31% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have weighed in on CMG shares. KeyCorp lowered their price objective on shares of Chipotle Mexican Grill from $68.00 to $66.00 and set an “overweight” rating on the stock in a report on Thursday, July 25th. Wells Fargo & Company upped their price target on Chipotle Mexican Grill from $66.00 to $67.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Raymond James lowered their price target on Chipotle Mexican Grill from $70.00 to $62.50 and set an “outperform” rating for the company in a research report on Thursday, July 25th. Robert W. Baird raised their price objective on shares of Chipotle Mexican Grill from $62.00 to $70.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Finally, Truist Financial boosted their target price on Chipotle Mexican Grill from $71.00 to $72.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Ten research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Chipotle Mexican Grill has an average rating of “Moderate Buy” and a consensus target price of $64.47.

Chipotle Mexican Grill Stock Performance

CMG traded up $1.11 during trading hours on Wednesday, reaching $57.29. The company’s stock had a trading volume of 1,164,660 shares, compared to its average volume of 13,938,127. The firm has a market cap of $78.46 billion, a PE ratio of 52.30, a price-to-earnings-growth ratio of 2.37 and a beta of 1.26. The company’s 50-day moving average is $57.31 and its 200-day moving average is $81.44. Chipotle Mexican Grill, Inc. has a 52 week low of $41.13 and a 52 week high of $69.26.

Chipotle Mexican Grill (NYSE:CMG) last issued its earnings results on Tuesday, October 29th. The restaurant operator reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.02. Chipotle Mexican Grill had a return on equity of 43.20% and a net margin of 13.51%. The business had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.82 billion. During the same period in the previous year, the company posted $0.23 earnings per share. The firm’s revenue for the quarter was up 13.0% on a year-over-year basis. Equities analysts anticipate that Chipotle Mexican Grill, Inc. will post 1.1 earnings per share for the current fiscal year.

Insider Activity at Chipotle Mexican Grill

In other news, Director Robin S. Hickenlooper sold 1,790 shares of the firm’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $56.38, for a total value of $100,920.20. Following the transaction, the director now directly owns 41,510 shares in the company, valued at $2,340,333.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, insider Curtis E. Garner sold 15,750 shares of the firm’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $57.05, for a total value of $898,537.50. Following the completion of the transaction, the insider now owns 457,764 shares in the company, valued at $26,115,436.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Robin S. Hickenlooper sold 1,790 shares of the firm’s stock in a transaction dated 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 owns 41,510 shares in the company, valued at $2,340,333.80. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 33,290 shares of company stock worth $1,866,023 in the last ninety days. 1.02% of the stock is owned by company insiders.

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.