Chipotle Mexican Grill, Inc. (NYSE:CMG) Shares Sold by LGT Group Foundation

Key Points

• The LGT Group Foundation reduced its stake in Chipotle Mexican Grill by 4.1%, owning 141,724 shares worth approximately $7.12 million after selling 6,111 shares.
• Wall Street analysts have revised their price targets for Chipotle, with the consensus price target now at $60.61, indicating a "Moderate Buy" rating based on 20 buy ratings and 8 hold ratings.
• Chipotle reported earnings of $0.33 per share for the last quarter, slightly beating estimates, with a revenue of $3.06 billion despite falling short of expectations.

LGT Group Foundation trimmed its position in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG - Free Report) by 4.1% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 141,724 shares of the restaurant operator's stock after selling 6,111 shares during the quarter. LGT Group Foundation's holdings in Chipotle Mexican Grill were worth $7,116,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of CMG. Nuveen LLC acquired a new stake in Chipotle Mexican Grill in the 1st quarter worth approximately $535,023,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its holdings in 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 period. Goldman Sachs Group Inc. increased its holdings in shares of Chipotle Mexican Grill by 98.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 9,900,521 shares of the restaurant operator's stock valued at $497,105,000 after purchasing an additional 4,903,969 shares in the last quarter. Voya Investment Management LLC increased its holdings in shares of Chipotle Mexican Grill by 114.2% during the 4th quarter. Voya Investment Management LLC now owns 8,986,971 shares of the restaurant operator's stock valued at $541,914,000 after purchasing an additional 4,790,464 shares in the last quarter. Finally, Montrusco Bolton Investments Inc. grew its stake in Chipotle Mexican Grill by 5,319.7% in the 1st quarter. Montrusco Bolton Investments Inc. now owns 4,848,990 shares of the restaurant operator's stock valued at $235,580,000 after acquiring an additional 4,759,520 shares during the period. 91.31% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider Roger E. Theodoredis sold 113,875 shares of the company's stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $49.70, for a total transaction of $5,659,587.50. Following the transaction, the insider owned 109,815 shares of the company's stock, valued at $5,457,805.50. This represents a 50.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.81% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

CMG has been the topic of a number of research analyst reports. KeyCorp dropped their price target on shares of Chipotle Mexican Grill from $60.00 to $58.00 and set an "overweight" rating on the stock in a research note on Thursday, July 24th. BMO Capital Markets upgraded Chipotle Mexican Grill from a "market perform" rating to an "outperform" rating and upped their price target for the company from $56.00 to $65.00 in a research report on Friday, July 18th. Melius initiated coverage on Chipotle Mexican Grill in a report on Monday, July 14th. They issued a "hold" rating and a $60.00 price target for the company. JPMorgan Chase & Co. cut their target price on Chipotle Mexican Grill from $58.00 to $54.00 and set a "neutral" rating for the company in a research note on Thursday, May 29th. Finally, Robert W. Baird dropped their price objective on shares of Chipotle Mexican Grill from $62.00 to $59.00 and set an "outperform" rating for the company in a report on Thursday, July 24th. Eight research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Chipotle Mexican Grill has a consensus rating of "Moderate Buy" and an average price target of $60.22.

Chipotle Mexican Grill Stock Performance

NYSE CMG traded up $0.87 on Friday, reaching $44.04. The stock had a trading volume of 19,009,831 shares, compared to its average volume of 14,186,140. Chipotle Mexican Grill, Inc. has a 12-month low of $41.18 and a 12-month high of $66.74. The business's 50-day moving average price is $50.54 and its 200 day moving average price is $51.25. The stock has a market cap of $59.05 billion, a P/E ratio of 39.32, a price-to-earnings-growth ratio of 2.21 and a beta of 1.05.

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 business had revenue of $3.06 billion for the quarter, compared to analyst estimates of $3.11 billion. Chipotle Mexican Grill had a return on equity of 43.50% and a net margin of 13.32%. The company's revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.34 earnings per share. On average, sell-side analysts predict that Chipotle Mexican Grill, Inc. will post 1.29 earnings per share for the current year.

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.