Chipotle Mexican Grill, Inc. (NYSE:CMG) Shares Sold by Forsta AP Fonden

Key Points

• Forsta AP Fonden reduced its stake in Chipotle Mexican Grill by 9.5%, owning 344,600 shares valued at $17.3 million after selling 36,200 shares in Q1.
• Other institutional investors made significant changes, with Banco Santander S.A. increasing its holdings by 47.6% and Jefferies Financial Group Inc. boosting its stake by 525.5% in the same quarter.
• Chipotle's shares experienced a 2.9% decline, and the company reported earnings of $0.33 per share, which beat analysts' expectations by $0.01.

Forsta AP Fonden cut its stake in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG - Free Report) by 9.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 344,600 shares of the restaurant operator's stock after selling 36,200 shares during the quarter. Forsta AP Fonden's holdings in Chipotle Mexican Grill were worth $17,302,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Cloud Capital Management LLC bought a new position in shares of Chipotle Mexican Grill during the first quarter valued at approximately $25,000. HighMark Wealth Management LLC lifted its stake in shares of 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 buying an additional 371 shares during the period. North Capital Inc. acquired a new stake in shares of Chipotle Mexican Grill during the first quarter worth $30,000. ORG Wealth Partners LLC acquired a new position in Chipotle Mexican Grill during the first quarter valued at $31,000. Finally, Mechanics Financial Corp acquired a new position in Chipotle Mexican Grill during the first quarter valued at $38,000. 91.31% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Citigroup cut their price objective on shares of Chipotle Mexican Grill from $68.00 to $62.00 and set a "buy" rating for the company in a report on Thursday, July 24th. 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 research report on Thursday, July 24th. Stephens reiterated an "equal weight" rating and issued a $60.00 target price on shares of Chipotle Mexican Grill in a report on Thursday, July 24th. Redburn Atlantic assumed coverage on shares of Chipotle Mexican Grill in a report on Tuesday, June 10th. They issued a "neutral" rating and a $55.00 target price on the stock. Finally, TD Securities reissued a "buy" rating and issued a $57.00 price target on shares of Chipotle Mexican Grill in a research note on Wednesday, June 18th. Nine equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Chipotle Mexican Grill presently has a consensus rating of "Moderate Buy" and an average price target of $60.71.

Chipotle Mexican Grill Price Performance

Shares of Chipotle Mexican Grill stock traded down $1.22 during trading hours on Friday, hitting $41.47. The company had a trading volume of 22,568,844 shares, compared to its average volume of 21,007,966. The company's 50-day moving average is $51.21 and its two-hundred day moving average is $51.62. Chipotle Mexican Grill, Inc. has a twelve month low of $41.43 and a twelve month high of $66.74. The company has a market cap of $55.61 billion, a P/E ratio of 37.03, a price-to-earnings-growth ratio of 2.11 and a beta of 1.05.

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

Insiders Place Their Bets

In related 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 transaction 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.81% of the stock is currently owned by corporate insiders.

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.