Chipotle Mexican Grill, Inc. (NYSE:CMG) Shares Sold by Federated Hermes Inc.

Key Points

• Federated Hermes Inc. has reduced its stake in Chipotle Mexican Grill, selling 58,710 shares and lowering its ownership to approximately 1,346,144 shares, valued at about $67.59 million.
• In a recent analyst report, BMO Capital Markets upgraded Chipotle's rating from "market perform" to "outperform" with a new price target of $65.00.
• The stock has seen a 52-week high of $66.74 and a low of $44.12, currently trading around $44.45 with a market cap of $59.88 billion.

Federated Hermes Inc. cut its position in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG - Free Report) by 4.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,346,144 shares of the restaurant operator's stock after selling 58,710 shares during the period. Federated Hermes Inc. owned 0.10% of Chipotle Mexican Grill worth $67,590,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cloud Capital Management LLC purchased a new stake in shares of Chipotle Mexican Grill during the 1st quarter worth about $25,000. HighMark Wealth Management LLC boosted its position in Chipotle Mexican Grill by 173.4% during the first 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. acquired a new stake in Chipotle Mexican Grill in the first quarter valued at approximately $30,000. ORG Wealth Partners LLC purchased a new stake in shares of Chipotle Mexican Grill in the first quarter valued at approximately $31,000. Finally, Mechanics Financial Corp acquired a new position in shares of Chipotle Mexican Grill during the 1st quarter worth approximately $38,000. Institutional investors and hedge funds own 91.31% of the company's stock.

Insider Transactions at Chipotle Mexican Grill

In related news, insider Roger E. Theodoredis sold 113,875 shares of Chipotle Mexican Grill 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 transaction, the insider directly owned 109,815 shares in the company, valued at approximately $5,457,805.50. This trade represents a 50.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.81% of the company's stock.

Chipotle Mexican Grill Stock Performance

Shares of NYSE CMG traded down $0.24 during trading on Friday, reaching $42.65. The stock had a trading volume of 2,090,285 shares, compared to its average volume of 13,800,760. Chipotle Mexican Grill, Inc. has a fifty-two week low of $42.50 and a fifty-two week high of $66.74. The business's 50-day moving average price is $52.16 and its 200-day moving average price is $52.26. The company has a market cap of $57.46 billion, a P/E ratio of 38.02, a PEG ratio of 2.23 and a beta of 1.08.

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The restaurant operator reported $0.33 earnings per share for the quarter, beating analysts' consensus estimates of $0.32 by $0.01. Chipotle Mexican Grill had a return on equity of 43.50% and a net margin of 13.32%. The business had revenue of $3.06 billion during the quarter, compared to analysts' expectations of $3.11 billion. During the same period in the previous year, the firm posted $0.34 earnings per share. The company's revenue was up 3.0% on a year-over-year basis. Analysts forecast that Chipotle Mexican Grill, Inc. will post 1.29 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently commented on CMG shares. Piper Sandler boosted their price target on shares of Chipotle Mexican Grill from $52.00 to $53.00 and gave the stock a "neutral" rating in a report on Thursday, July 24th. Royal Bank Of Canada reduced their price target on shares of Chipotle Mexican Grill from $65.00 to $60.00 and set an "outperform" rating for the company in a research report on Thursday, April 24th. Argus cut Chipotle Mexican Grill from a "buy" rating to a "hold" rating in a report on Monday, April 28th. Loop Capital reduced their target price on Chipotle Mexican Grill from $65.00 to $63.00 and set a "buy" rating for the company in a report on Thursday, April 24th. Finally, Redburn Atlantic started coverage on Chipotle Mexican Grill in a research report on Tuesday, June 10th. They issued a "neutral" rating and a $55.00 target price on the stock. Nine equities research 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. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $60.71.

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.