Carnegie Investment Counsel Sells 46,804 Shares of Chipotle Mexican Grill, Inc. (NYSE:CMG)

Key Points

• Carnegie Investment Counsel reduced its stake in Chipotle Mexican Grill by 34.1%, selling 46,804 shares, resulting in holdings worth $4,225,000 as of the latest quarter.
• Brokerages have mixed ratings on Chipotle, with Morgan Stanley lowering their target price from $67 to $65, while TD Securities maintains a buy rating and sets a target of $57.
• Insider Roger E. Theodoredis sold 113,875 shares, representing a 50.91% reduction in his stake, indicating significant insider selling activity.

Carnegie Investment Counsel cut its stake in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG - Free Report) by 34.1% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 90,529 shares of the restaurant operator's stock after selling 46,804 shares during the period. Carnegie Investment Counsel's holdings in Chipotle Mexican Grill were worth $4,225,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Revolve Wealth Partners LLC grew its holdings in shares of Chipotle Mexican Grill by 4.7% in the 4th quarter. Revolve Wealth Partners LLC now owns 4,804 shares of the restaurant operator's stock worth $290,000 after acquiring an additional 214 shares during the period. Csenge Advisory Group grew its holdings in Chipotle Mexican Grill by 5.0% during the 1st quarter. Csenge Advisory Group now owns 4,603 shares of the restaurant operator's stock valued at $222,000 after buying an additional 220 shares during the last quarter. Money Concepts Capital Corp grew its holdings in Chipotle Mexican Grill by 3.0% during the 1st quarter. Money Concepts Capital Corp now owns 7,491 shares of the restaurant operator's stock valued at $376,000 after buying an additional 221 shares during the last quarter. Northwest Bank & Trust Co grew its holdings in Chipotle Mexican Grill by 0.5% during the 4th quarter. Northwest Bank & Trust Co now owns 45,324 shares of the restaurant operator's stock valued at $2,788,000 after buying an additional 236 shares during the last quarter. Finally, Linden Thomas Advisory Services LLC grew its holdings in Chipotle Mexican Grill by 2.6% during the 1st quarter. Linden Thomas Advisory Services LLC now owns 9,728 shares of the restaurant operator's stock valued at $488,000 after buying an additional 243 shares during the last quarter. 91.31% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on CMG shares. Robert W. Baird lowered their target price on Chipotle Mexican Grill from $62.00 to $59.00 and set an "outperform" rating on the stock in a report on Thursday. Argus cut Chipotle Mexican Grill from a "buy" rating to a "hold" rating in a report on Monday, April 28th. UBS Group increased their price target on Chipotle Mexican Grill from $60.00 to $65.00 and gave the stock a "buy" rating in a research note on Thursday, July 17th. Barclays reduced their price target on Chipotle Mexican Grill from $55.00 to $53.00 and set an "equal weight" rating on the stock in a research note on Thursday. Finally, Truist Financial reduced their price target on Chipotle Mexican Grill from $64.00 to $60.00 and set a "buy" rating on the stock in a research note on Friday. Nine research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Chipotle Mexican Grill presently has a consensus rating of "Moderate Buy" and an average target price of $60.71.

Chipotle Mexican Grill Stock Down 2.5%

Shares of Chipotle Mexican Grill stock traded down $1.16 on Monday, hitting $45.60. 9,145,923 shares of the company traded hands, compared to its average volume of 13,423,963. The company has a 50-day moving average price of $52.75 and a 200 day moving average price of $52.54. Chipotle Mexican Grill, Inc. has a 12-month low of $44.46 and a 12-month high of $66.74. The company has a market cap of $61.45 billion, a PE ratio of 40.75, a PEG ratio of 2.38 and a beta of 1.08.

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

Insider Activity

In other Chipotle Mexican Grill news, insider Roger E. Theodoredis sold 113,875 shares of the business's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $49.70, for a total transaction of $5,659,587.50. Following the completion of the transaction, the insider owned 109,815 shares of the company's stock, valued at $5,457,805.50. The trade was a 50.91% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.02% of the company's stock.

Chipotle Mexican Grill Company 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.