Banque Pictet & Cie SA Trims Holdings in Chipotle Mexican Grill, Inc. (NYSE:CMG)

Banque Pictet & Cie SA reduced its position in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG - Free Report) by 7.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 955,228 shares of the restaurant operator's stock after selling 74,540 shares during the period. Banque Pictet & Cie SA owned 0.07% of Chipotle Mexican Grill worth $47,962,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in CMG. Revolve Wealth Partners LLC increased its position in shares of Chipotle Mexican Grill by 4.7% during the fourth quarter. Revolve Wealth Partners LLC now owns 4,804 shares of the restaurant operator's stock valued at $290,000 after acquiring an additional 214 shares during the last quarter. Bank Pictet & Cie Europe AG increased its position in shares of Chipotle Mexican Grill by 22.5% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 1,518,593 shares of the restaurant operator's stock valued at $91,571,000 after acquiring an additional 279,267 shares during the last quarter. Proficio Capital Partners LLC increased its position in shares of Chipotle Mexican Grill by 100.5% during the fourth quarter. Proficio Capital Partners LLC now owns 6,998 shares of the restaurant operator's stock valued at $422,000 after acquiring an additional 3,507 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Chipotle Mexican Grill during the fourth quarter valued at about $366,000. Finally, PNC Financial Services Group Inc. increased its position in shares of Chipotle Mexican Grill by 1.4% during the fourth quarter. PNC Financial Services Group Inc. now owns 390,894 shares of the restaurant operator's stock valued at $23,571,000 after acquiring an additional 5,356 shares during the last quarter. 91.31% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Roger E. Theodoredis sold 113,875 shares of the company's stock in a transaction 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 completion of the sale, the insider owned 109,815 shares in the company, valued at $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 available through the SEC website. 0.81% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages recently weighed in on CMG. Stifel Nicolaus dropped their price objective on shares of Chipotle Mexican Grill from $68.00 to $65.00 and set a "buy" rating for the company in a report on Wednesday, March 19th. Robert W. Baird lifted their price objective on shares of Chipotle Mexican Grill from $58.00 to $62.00 and gave the company an "outperform" rating in a report on Wednesday, July 2nd. Morgan Stanley dropped their price objective on shares of Chipotle Mexican Grill from $67.00 to $65.00 and set an "overweight" rating for the company in a report on Thursday, April 24th. Royal Bank Of Canada dropped their price objective on shares of Chipotle Mexican Grill from $65.00 to $60.00 and set an "outperform" rating for the company in a report on Thursday, April 24th. Finally, KeyCorp dropped their price objective on shares of Chipotle Mexican Grill from $60.00 to $58.00 and set an "overweight" rating for the company in a 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 given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $61.25.

Chipotle Mexican Grill Price Performance

Shares of NYSE:CMG traded down $0.41 during trading on Friday, hitting $56.00. 8,282,822 shares of the company were exchanged, compared to its average volume of 12,674,862. The stock has a market capitalization of $75.45 billion, a P/E ratio of 49.56, a PEG ratio of 2.77 and a beta of 1.08. Chipotle Mexican Grill, Inc. has a 12-month low of $44.46 and a 12-month high of $66.74. The firm's 50 day moving average price is $52.58 and its 200-day moving average price is $53.12.

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The restaurant operator reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.01. The business had revenue of $2.88 billion during the quarter, compared to the consensus estimate of $2.98 billion. Chipotle Mexican Grill had a net margin of 13.59% and a return on equity of 43.29%. The company's revenue was up 6.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $13.37 EPS. As a group, equities research analysts anticipate that Chipotle Mexican Grill, Inc. will post 1.29 EPS for the current year.

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.