Chipotle Mexican Grill, Inc. (NYSE:CMG) Shares Sold by Mackenzie Financial Corp

Key Points

• Mackenzie Financial Corp reduced its stake in Chipotle Mexican Grill by 55.8%, selling 236,665 shares during the first quarter, leaving it with 187,531 shares valued at approximately $9.4 million.
• Chipotle received mixed ratings from analysts, with Argus downgrading the stock to a "hold" while BMO Capital Markets upgraded it to "outperform" with a target price increase to $65.
• Insider Roger E. Theodoredis sold 113,875 shares of Chipotle at an average price of $49.70, resulting in a sizeable reduction in his holdings.

Mackenzie Financial Corp reduced its position in Chipotle Mexican Grill, Inc. (NYSE:CMG - Free Report) by 55.8% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 187,531 shares of the restaurant operator's stock after selling 236,665 shares during the quarter. Mackenzie Financial Corp's holdings in Chipotle Mexican Grill were worth $9,416,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Cloud Capital Management LLC acquired a new position in Chipotle Mexican Grill in the 1st quarter valued at $25,000. HighMark Wealth Management LLC boosted its position in shares of Chipotle Mexican Grill by 173.4% during the 1st quarter. HighMark Wealth Management LLC now owns 585 shares of the restaurant operator's stock worth $29,000 after purchasing an additional 371 shares in the last quarter. North Capital Inc. purchased a new stake in shares of Chipotle Mexican Grill during the 1st quarter worth $30,000. ORG Wealth Partners LLC purchased a new stake in shares of Chipotle Mexican Grill during the 1st quarter worth $31,000. Finally, Mechanics Financial Corp purchased a new stake in shares of Chipotle Mexican Grill during the 1st quarter worth $38,000. 91.31% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have commented on CMG shares. Argus lowered shares of Chipotle Mexican Grill from a "buy" rating to a "hold" rating in a research report on Monday, April 28th. BMO Capital Markets upgraded shares of Chipotle Mexican Grill from a "market perform" rating to an "outperform" rating and boosted their target price for the stock from $56.00 to $65.00 in a research report on Friday, July 18th. Morgan Stanley decreased their target price on shares of Chipotle Mexican Grill from $67.00 to $65.00 and set an "overweight" rating on the stock in a research report on Thursday, April 24th. Melius assumed coverage on shares of Chipotle Mexican Grill in a research report on Monday, July 14th. They set a "hold" rating and a $60.00 target price on the stock. Finally, Redburn Atlantic assumed coverage on shares of Chipotle Mexican Grill in a research report on Tuesday, June 10th. They issued a "neutral" rating and a $55.00 price objective on the stock. 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 stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $60.71.

Insider Buying and Selling at Chipotle Mexican Grill

In other news, insider Roger E. Theodoredis sold 113,875 shares of the stock in a transaction dated 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 transaction, the insider directly owned 109,815 shares in the company, valued at $5,457,805.50. This represents a 50.91% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.81% of the stock is currently owned by insiders.

Chipotle Mexican Grill Price Performance

Shares of CMG stock opened at $42.88 on Friday. The firm has a market cap of $57.78 billion, a P/E ratio of 38.29, a PEG ratio of 2.23 and a beta of 1.08. Chipotle Mexican Grill, Inc. has a 1-year low of $42.83 and a 1-year high of $66.74. The firm's 50-day simple moving average is $52.16 and its 200-day simple moving average is $52.26.

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The restaurant operator reported $0.33 earnings per share for the quarter, topping the consensus estimate 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 net margin of 13.32% and a return on equity of 43.50%. The company's revenue was up 3.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.34 EPS. Analysts expect that Chipotle Mexican Grill, Inc. will post 1.29 earnings per share for the current fiscal 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.

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