Chipotle Mexican Grill, Inc. $CMG Position Lessened by Raymond James Financial Inc.

Key Points

• Raymond James Financial Inc. reduced its stake in Chipotle Mexican Grill by 2.1%, owning 5,117,169 shares worth approximately $256.9 million after selling 110,374 shares in the first quarter.
• Insider Roger E. Theodoredis sold 113,875 shares at an average price of $49.70, resulting in a significant decline of 50.91% in his ownership of the stock.
• Analysts are mixed, with Evercore ISI and Raymond James lowering their price targets on Chipotle shares, while the consensus rating remains a "Moderate Buy" with an average target price of $60.22.

Raymond James Financial Inc. cut its position in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG - Free Report) by 2.1% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 5,117,169 shares of the restaurant operator's stock after selling 110,374 shares during the quarter. Raymond James Financial Inc. owned 0.38% of Chipotle Mexican Grill worth $256,933,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently added to or reduced their stakes in the business. Roanoke Asset Management Corp NY increased its stake in Chipotle Mexican Grill by 0.5% in the first quarter. Roanoke Asset Management Corp NY now owns 90,130 shares of the restaurant operator's stock valued at $4,525,000 after purchasing an additional 470 shares during the last quarter. American Century Companies Inc. boosted its position in shares of Chipotle Mexican Grill by 2.1% in the first quarter. American Century Companies Inc. now owns 20,662,628 shares of the restaurant operator's stock worth $1,037,471,000 after buying an additional 425,648 shares during the period. Martin Currie Ltd. boosted its position in shares of Chipotle Mexican Grill by 8.1% in the first quarter. Martin Currie Ltd. now owns 599,440 shares of the restaurant operator's stock worth $30,098,000 after buying an additional 45,100 shares during the period. Aberdeen Group plc boosted its position in shares of Chipotle Mexican Grill by 106.6% in the first quarter. Aberdeen Group plc now owns 960,162 shares of the restaurant operator's stock worth $47,466,000 after buying an additional 495,311 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in shares of Chipotle Mexican Grill by 1.6% in the first quarter. Dimensional Fund Advisors LP now owns 5,823,892 shares of the restaurant operator's stock worth $292,370,000 after buying an additional 91,988 shares during the period. 91.30% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Royal Bank Of Canada cut their price target on Chipotle Mexican Grill from $65.00 to $60.00 and set an "outperform" rating on the stock in a research note on Thursday, April 24th. Morgan Stanley cut their price objective on Chipotle Mexican Grill from $67.00 to $65.00 and set an "overweight" rating on the stock in a research note on Thursday, April 24th. Loop Capital cut their price objective on Chipotle Mexican Grill from $65.00 to $63.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. Evercore ISI cut their price objective on Chipotle Mexican Grill from $64.00 to $57.00 and set an "outperform" rating on the stock in a research note on Thursday, April 24th. Finally, TD Cowen dropped their price target on Chipotle Mexican Grill from $61.00 to $58.00 and set a "buy" rating on the stock in a research report on Wednesday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $60.22.

Insider Activity

In other news, insider Roger E. Theodoredis sold 113,875 shares of the stock in a transaction 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 completion of the sale, the insider owned 109,815 shares in the company, valued at $5,457,805.50. This represents a 50.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.81% of the stock is owned by insiders.

Chipotle Mexican Grill Stock Down 0.4%

Shares of CMG traded down $0.1750 during mid-day trading on Thursday, reaching $42.8950. The company's stock had a trading volume of 5,217,572 shares, compared to its average volume of 14,173,980. The business has a fifty day moving average of $49.89 and a 200 day moving average of $50.84. The company has a market cap of $57.52 billion, a price-to-earnings ratio of 38.28, a price-to-earnings-growth ratio of 2.20 and a beta of 1.05. Chipotle Mexican Grill, Inc. has a 1 year low of $41.18 and a 1 year high of $66.74.

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 company had revenue of $3.06 billion during 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% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.34 earnings per share. On average, 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.