M&T Bank Corp Cuts Holdings in Chipotle Mexican Grill, Inc. (NYSE:CMG)

M&T Bank Corp reduced its position in Chipotle Mexican Grill, Inc. (NYSE:CMG - Free Report) by 3.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 237,443 shares of the restaurant operator's stock after selling 8,829 shares during the quarter. M&T Bank Corp's holdings in Chipotle Mexican Grill were worth $11,921,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vinva Investment Management Ltd increased its position in shares of Chipotle Mexican Grill by 50.6% during the fourth quarter. Vinva Investment Management Ltd now owns 65,069 shares of the restaurant operator's stock worth $3,910,000 after acquiring an additional 21,864 shares during the period. Community Trust & Investment Co. purchased a new stake in shares of Chipotle Mexican Grill in the 1st quarter worth $7,773,000. Headlands Technologies LLC purchased a new stake in shares of Chipotle Mexican Grill in the 4th quarter worth $488,000. Valicenti Advisory Services Inc. purchased a new stake in shares of Chipotle Mexican Grill in the 1st quarter worth $3,317,000. Finally, Interval Partners LP purchased a new stake in shares of Chipotle Mexican Grill in the 4th quarter worth $51,811,000. 91.31% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Chipotle Mexican Grill news, insider Roger E. Theodoredis sold 113,875 shares of Chipotle Mexican Grill 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 transaction, the insider owned 109,815 shares of the company's stock, valued at approximately $5,457,805.50. The trade was a 50.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.81% of the stock is currently owned by company insiders.

Chipotle Mexican Grill Stock Performance

Shares of Chipotle Mexican Grill stock traded down $0.41 during trading on Friday, hitting $56.00. 8,282,822 shares of the company's stock were exchanged, compared to its average volume of 12,674,862. The business has a 50-day simple moving average of $52.58 and a 200-day simple moving average of $53.12. Chipotle Mexican Grill, Inc. has a 52-week low of $44.46 and a 52-week high of $66.74. The stock has a market capitalization of $75.45 billion, a price-to-earnings ratio of 49.56, a PEG ratio of 2.77 and a beta of 1.08.

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

Wall Street Analyst Weigh In

CMG has been the subject of several research reports. TD Securities reiterated a "buy" rating and issued a $57.00 target price on shares of Chipotle Mexican Grill in a report on Wednesday, June 18th. KeyCorp dropped their price objective 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, April 24th. Barclays increased their price objective on shares of Chipotle Mexican Grill from $52.00 to $54.00 and gave the company an "equal weight" rating in a research note on Thursday, June 26th. Truist Financial increased their price objective on shares of Chipotle Mexican Grill from $63.00 to $64.00 and gave the company a "buy" rating in a research note on Wednesday. Finally, Guggenheim set a $47.00 price objective on shares of Chipotle Mexican Grill in a research note on Friday, April 25th. Nine research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $61.25.

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.