Chipotle Mexican Grill, Inc. (NYSE:CMG) Shares Sold by Accuvest Global Advisors

Key Points

• Accuvest Global Advisors has reduced its stake in Chipotle Mexican Grill by 58.3%, selling 30,128 shares and retaining 21,546 shares, valued at $1,082,000.
• Analysts have mixed views on Chipotle, with price targets ranging from $57.00 to $65.00, and a consensus rating of "Moderate Buy" based on recent performance.
• Insider Roger E. Theodoredis sold 113,875 shares of Chipotle stock for over $5.6 million, indicating a substantial reduction in ownership.

Accuvest Global Advisors trimmed its holdings in Chipotle Mexican Grill, Inc. (NYSE:CMG - Free Report) by 58.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 21,546 shares of the restaurant operator's stock after selling 30,128 shares during the quarter. Chipotle Mexican Grill makes up about 0.9% of Accuvest Global Advisors' holdings, making the stock its 27th biggest position. Accuvest Global Advisors' holdings in Chipotle Mexican Grill were worth $1,082,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Cloud Capital Management LLC acquired a new position in shares of Chipotle Mexican Grill in the 1st quarter valued at $25,000. HighMark Wealth Management LLC increased its holdings in shares of Chipotle Mexican Grill by 173.4% in the 1st quarter. HighMark Wealth Management LLC now owns 585 shares of the restaurant operator's stock valued at $29,000 after acquiring an additional 371 shares during the period. North Capital Inc. purchased a new position in Chipotle Mexican Grill in the 1st quarter valued at $30,000. ORG Wealth Partners LLC purchased a new position in Chipotle Mexican Grill in the 1st quarter valued at $31,000. Finally, Mechanics Financial Corp purchased a new position in Chipotle Mexican Grill in the 1st quarter valued at $38,000. 91.31% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Chipotle Mexican Grill

In other Chipotle Mexican Grill news, insider Roger E. Theodoredis sold 113,875 shares of the company's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $49.70, for a total value of $5,659,587.50. Following the transaction, the insider directly owned 109,815 shares in the company, valued at approximately $5,457,805.50. This represents a 50.91% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.81% of the company's stock.

Chipotle Mexican Grill Price Performance

NYSE:CMG traded down $1.22 on Friday, reaching $41.47. The stock had a trading volume of 22,568,844 shares, compared to its average volume of 21,007,966. The company has a market cap of $55.61 billion, a price-to-earnings ratio of 37.03, a P/E/G ratio of 2.11 and a beta of 1.05. The firm's fifty day moving average is $51.21 and its two-hundred day moving average is $51.64. Chipotle Mexican Grill, Inc. has a 12-month low of $41.43 and a 12-month high of $66.74.

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) last released its earnings results on Wednesday, July 23rd. The restaurant operator reported $0.33 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.32 by $0.01. The company had revenue of $3.06 billion for the quarter, compared to analyst estimates of $3.11 billion. Chipotle Mexican Grill had a net margin of 13.32% and a return on equity of 43.50%. The firm's quarterly revenue was up 3.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.34 EPS. As a group, research analysts forecast that Chipotle Mexican Grill, Inc. will post 1.29 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on CMG. Piper Sandler lifted their price objective on shares of Chipotle Mexican Grill from $52.00 to $53.00 and gave the company a "neutral" rating in a research report on Thursday, July 24th. Melius began coverage on shares of Chipotle Mexican Grill in a research report on Monday, July 14th. They issued a "hold" rating and a $60.00 price objective on the stock. Loop Capital lowered their price objective on shares of Chipotle Mexican Grill from $65.00 to $63.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. Stephens reiterated an "equal weight" rating and issued a $60.00 price objective on shares of Chipotle Mexican Grill in a research report on Thursday, July 24th. Finally, Morgan Stanley lowered their price objective on shares of Chipotle Mexican Grill from $67.00 to $65.00 and set an "overweight" rating on the stock in a research report on Thursday, April 24th. Nine investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $60.71.

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.