Chipotle Mexican Grill, Inc. (NYSE:CMG) Shares Sold by Connective Portfolio Management LLC

Connective Portfolio Management LLC decreased its position in Chipotle Mexican Grill, Inc. (NYSE:CMG - Free Report) by 28.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,875 shares of the restaurant operator's stock after selling 5,125 shares during the quarter. Chipotle Mexican Grill comprises approximately 2.2% of Connective Portfolio Management LLC's holdings, making the stock its 22nd largest position. Connective Portfolio Management LLC's holdings in Chipotle Mexican Grill were worth $646,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of CMG. Union Bancaire Privee UBP SA acquired a new stake in shares of Chipotle Mexican Grill in the fourth quarter valued at $32,742,000. Revolve Wealth Partners LLC lifted its holdings in shares of Chipotle Mexican Grill by 4.7% in the fourth quarter. Revolve Wealth Partners LLC now owns 4,804 shares of the restaurant operator's stock valued at $290,000 after buying an additional 214 shares during the period. Bank Pictet & Cie Europe AG lifted its holdings in shares of Chipotle Mexican Grill by 22.5% in 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 buying an additional 279,267 shares during the period. Venturi Wealth Management LLC lifted its holdings in shares of Chipotle Mexican Grill by 313.3% in the fourth quarter. Venturi Wealth Management LLC now owns 6,146 shares of the restaurant operator's stock valued at $371,000 after buying an additional 4,659 shares during the period. Finally, Kestra Investment Management LLC acquired a new stake in shares of Chipotle Mexican Grill in the fourth quarter valued at $98,000. Institutional investors and hedge funds own 91.31% of the company's stock.

Chipotle Mexican Grill Price Performance

CMG opened at $52.81 on Friday. Chipotle Mexican Grill, Inc. has a fifty-two week low of $44.46 and a fifty-two week high of $66.74. The business has a 50-day moving average of $50.63 and a 200-day moving average of $54.01. The company has a market capitalization of $71.15 billion, a PE ratio of 46.73, a price-to-earnings-growth ratio of 2.57 and a beta of 1.06.

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

Insider Transactions at Chipotle Mexican Grill

In related news, insider Roger E. Theodoredis sold 113,875 shares of the firm's stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $49.70, for a total value of $5,659,587.50. Following the transaction, the insider now directly owns 109,815 shares of the company's stock, valued at approximately $5,457,805.50. This trade represents a 50.91% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.81% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Piper Sandler cut their price objective on Chipotle Mexican Grill from $59.00 to $52.00 and set a "neutral" rating for the company in a report on Thursday, April 24th. KeyCorp reduced their target price on Chipotle Mexican Grill from $60.00 to $58.00 and set an "overweight" rating for the company in a report on Thursday, April 24th. Stifel Nicolaus reduced their target price on Chipotle Mexican Grill from $68.00 to $65.00 and set a "buy" rating for the company in a report on Wednesday, March 19th. Guggenheim set a $47.00 target price on Chipotle Mexican Grill in a report on Friday, April 25th. Finally, Evercore ISI reduced their target price on Chipotle Mexican Grill from $64.00 to $57.00 and set an "outperform" rating for the company in a report on Thursday, April 24th. Ten research 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's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $60.79.

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.

Want to see what other hedge funds are holding CMG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Chipotle Mexican Grill, Inc. (NYSE:CMG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.