IFP Advisors Inc Acquires 105,482 Shares of Chipotle Mexican Grill, Inc. $CMG

Key Points

• IFP Advisors increased its Chipotle stake by 322.7% in the third quarter, acquiring 105,482 shares for a total holding of 138,168 shares valued at approximately $4.4 million.
• Institutional investors own 91.30% of Chipotle’s shares, while an insider recently sold 2,675 shares, reducing his position by 11.1%.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $43.59, despite the stock opening at $29.85 and trading near its one-year low.

IFP Advisors Inc increased its stake in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG - Free Report) by 322.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 138,168 shares of the restaurant operator's stock after buying an additional 105,482 shares during the quarter. IFP Advisors Inc's holdings in Chipotle Mexican Grill were worth $4,414,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of CMG. BlackRock Inc. bought a new position in shares of Chipotle Mexican Grill in the 2nd quarter valued at $4,417,475,000. Bank of America Corp DE bought a new stake in shares of Chipotle Mexican Grill in the second quarter worth $383,483,000. Legal & General Group Plc bought a new stake in shares of Chipotle Mexican Grill in the 2nd quarter valued at about $265,887,000. Man Group plc acquired a new stake in shares of Chipotle Mexican Grill in the second quarter valued at about $240,389,000. Finally, Bank of New York Mellon Corp bought a new position in shares of Chipotle Mexican Grill during the second quarter worth about $222,809,000. 91.30% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Chipotle Mexican Grill

In other news, insider Matthew R. Bush sold 2,675 shares of the company's stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $35.75, for a total value of $95,631.25. Following the completion of the transaction, the insider directly owned 21,415 shares in the company, valued at approximately $765,586.25. This represents a 11.10% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.45% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts recently issued reports on CMG shares. Raymond James Financial dropped their target price on shares of Chipotle Mexican Grill from $42.50 to $37.00 and set an "outperform" rating on the stock in a report on Friday. Morgan Stanley lifted their price target on Chipotle Mexican Grill from $39.00 to $40.00 and gave the company an "equal weight" rating in a research note on Thursday, October 15th. Sanford C. Bernstein restated an "outperform" rating on shares of Chipotle Mexican Grill in a report on Friday, July 31st. Mizuho reiterated an "outperform" rating and issued a $43.00 target price on shares of Chipotle Mexican Grill in a research note on Tuesday, September 1st. Finally, BTIG Research reiterated a "buy" rating and issued a $45.00 price objective on shares of Chipotle Mexican Grill in a research note on Wednesday, August 5th. Twenty-two research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $43.59.

Chipotle Mexican Grill Trading Down 0.1%

Chipotle Mexican Grill stock opened at $29.85 on Tuesday. The firm has a market capitalization of $37.77 billion, a price-to-earnings ratio of 26.93, a P/E/G ratio of 1.83 and a beta of 0.96. The firm has a 50 day simple moving average of $33.93 and a 200 day simple moving average of $33.47. Chipotle Mexican Grill, Inc. has a 1-year low of $28.03 and a 1-year high of $42.74.

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The restaurant operator reported $0.33 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.32 by $0.01. Chipotle Mexican Grill had a return on equity of 54.65% and a net margin of 11.43%. The company had revenue of $3.35 billion for the quarter, compared to analyst estimates of $3.33 billion. During the same period in the previous year, the company posted $0.33 EPS. The firm's revenue for the quarter was up 9.3% compared to the same quarter last year. On average, equities research analysts forecast that Chipotle Mexican Grill, Inc. will post 1.14 EPS for the current year.

About Chipotle Mexican Grill

Chipotle Mexican Grill, Inc NYSE: CMG operates a chain of fast-casual restaurants focused on Mexican-inspired food. Its menu includes burritos, burrito bowls, tacos, quesadillas and salads, with options such as chicken, steak, barbacoa, carnitas, sofritas and vegetables. The company emphasizes preparing food in its restaurants from ingredients it describes as responsibly sourced, including meats raised with attention to animal welfare and produce from selected suppliers.

Founded by Steve Ells in 1993, Chipotle opened its first restaurant in Denver, Colorado.

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