M&T Bank Corp Sells 8,829 Shares of Chipotle Mexican Grill, Inc. (NYSE:CMG)

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

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Cloud Capital Management LLC acquired a new position in Chipotle Mexican Grill in the first quarter valued at about $25,000. HighMark Wealth Management LLC boosted its position in Chipotle Mexican Grill by 173.4% in the first quarter. HighMark Wealth Management LLC now owns 585 shares of the restaurant operator's stock valued at $29,000 after buying an additional 371 shares in the last quarter. North Capital Inc. acquired a new position in shares of Chipotle Mexican Grill during the first quarter worth approximately $30,000. ORG Wealth Partners LLC acquired a new position in shares of Chipotle Mexican Grill during the first quarter worth approximately $31,000. Finally, Murphy & Mullick Capital Management Corp acquired a new position in shares of Chipotle Mexican Grill during the fourth quarter worth approximately $38,000. 91.31% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CMG has been the topic of a number of research reports. Redburn Atlantic initiated coverage on shares of Chipotle Mexican Grill in a research report on Tuesday, June 10th. They set a "neutral" rating and a $55.00 target price on the stock. Citigroup reduced their target price on shares of Chipotle Mexican Grill from $70.00 to $62.00 and set a "buy" rating on the stock in a research report on Wednesday, April 2nd. Truist Financial upped their target price on shares of Chipotle Mexican Grill from $63.00 to $64.00 and gave the stock a "buy" rating in a research report on Wednesday. Guggenheim set a $47.00 target price on shares of Chipotle Mexican Grill in a research report on Friday, April 25th. Finally, Barclays upped their target price on shares of Chipotle Mexican Grill from $52.00 to $54.00 and gave the stock an "equal weight" rating in a research report on Thursday, June 26th. Nine investment 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. According to MarketBeat.com, Chipotle Mexican Grill currently has a consensus rating of "Moderate Buy" and a consensus target price of $61.04.

Chipotle Mexican Grill Price Performance

Shares of Chipotle Mexican Grill stock traded up $0.55 on Wednesday, hitting $56.00. The company had a trading volume of 8,638,628 shares, compared to its average volume of 12,789,801. The firm has a market capitalization of $75.45 billion, a P/E ratio of 49.56, a P/E/G ratio of 2.75 and a beta of 1.08. Chipotle Mexican Grill, Inc. has a twelve month low of $44.46 and a twelve month high of $66.74. The stock has a 50-day moving average of $52.26 and a 200-day moving average of $53.24.

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The restaurant operator reported $0.29 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 business had revenue of $2.88 billion during the quarter, compared to analysts' expectations of $2.98 billion. During the same quarter in the prior year, the company posted $13.37 earnings per share. The firm's revenue was up 6.4% on a year-over-year basis. Equities analysts predict that Chipotle Mexican Grill, Inc. will post 1.29 EPS for the current year.

Insider Buying and Selling

In other Chipotle Mexican Grill news, insider Roger E. Theodoredis sold 113,875 shares of the 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 trade 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 through this link. Insiders own 1.02% of the company's stock.

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.