Avity Investment Management Inc. Sells 7,903 Shares of Chipotle Mexican Grill, Inc. (NYSE:CMG)

Avity Investment Management Inc. decreased its stake in Chipotle Mexican Grill, Inc. (NYSE:CMG - Free Report) by 1.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 466,399 shares of the restaurant operator's stock after selling 7,903 shares during the period. Chipotle Mexican Grill comprises about 1.9% of Avity Investment Management Inc.'s investment portfolio, making the stock its 26th biggest position. Avity Investment Management Inc.'s holdings in Chipotle Mexican Grill were worth $23,418,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in CMG. Norges Bank bought a new position in shares of Chipotle Mexican Grill in the 4th quarter worth $1,093,345,000. Alphinity Investment Management Pty Ltd bought a new position in shares of Chipotle Mexican Grill in the 4th quarter worth $692,701,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its holdings in shares of Chipotle Mexican Grill by 4,138,574.1% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 8,318,735 shares of the restaurant operator's stock worth $501,620,000 after buying an additional 8,318,534 shares during the last quarter. Alliancebernstein L.P. increased its holdings in shares of Chipotle Mexican Grill by 29.5% in the 4th quarter. Alliancebernstein L.P. now owns 30,100,520 shares of the restaurant operator's stock worth $1,815,061,000 after buying an additional 6,853,470 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of Chipotle Mexican Grill in the 4th quarter worth $315,220,000. Institutional investors own 91.31% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on CMG. Loop Capital reduced their target price on shares of Chipotle Mexican Grill from $65.00 to $63.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. TD Securities reduced their target price on shares of Chipotle Mexican Grill from $60.00 to $57.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. Barclays reduced their target price on shares of Chipotle Mexican Grill from $60.00 to $56.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 22nd. Robert W. Baird reduced their target price on shares of Chipotle Mexican Grill from $62.00 to $56.00 and set an "outperform" rating on the stock in a report on Thursday, April 24th. Finally, Evercore ISI reduced their target price on shares of Chipotle Mexican Grill from $64.00 to $57.00 and set an "outperform" rating on the stock in a report on Thursday, April 24th. Nine investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $61.60.

Insider Activity at Chipotle Mexican Grill

In other news, insider Roger E. Theodoredis sold 113,875 shares of the company's stock in a transaction that occurred on 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 now owns 109,815 shares in the company, valued at approximately $5,457,805.50. This represents a 50.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.81% of the stock is currently owned by corporate insiders.

Chipotle Mexican Grill Price Performance

NYSE CMG traded down $1.35 during trading hours on Monday, reaching $51.15. 10,201,904 shares of the company's stock traded hands, compared to its average volume of 13,465,520. Chipotle Mexican Grill, Inc. has a 52-week low of $44.46 and a 52-week high of $69.26. The firm has a market cap of $68.91 billion, a PE ratio of 46.07, a PEG ratio of 2.04 and a beta of 1.06. The firm has a 50-day simple moving average of $50.12 and a 200 day simple moving average of $54.62.

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The restaurant operator reported $0.29 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.28 by $0.01. Chipotle Mexican Grill had a net margin of 13.56% and a return on equity of 42.92%. The company had revenue of $2.88 billion during the quarter, compared to analysts' expectations of $2.98 billion. During the same period last year, the company posted $13.37 EPS. Chipotle Mexican Grill's revenue was up 6.4% on a year-over-year basis. Sell-side analysts forecast that Chipotle Mexican Grill, Inc. will post 1.29 EPS for the current fiscal year.

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.