ING Groep NV Sells 188,040 Shares of Chipotle Mexican Grill, Inc. (NYSE:CMG)

Key Points

• ING Groep NV reduced its stake in Chipotle Mexican Grill by 35.9%, selling 188,040 shares, leaving them with 336,092 shares valued at approximately $16.87 million.
• Several institutional investors have drastically increased their holdings in Chipotle, with DZ BANK AG purchasing over 8.3 million shares, raising their ownership stake significantly during the last quarter.
• Chipotle's stock has a market capitalization of $57.46 billion, a PE ratio of 38.26, and reported a net margin of 13.32% in its latest quarterly earnings.

ING Groep NV lowered its stake in Chipotle Mexican Grill, Inc. (NYSE:CMG - Free Report) by 35.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 336,092 shares of the restaurant operator's stock after selling 188,040 shares during the quarter. ING Groep NV's holdings in Chipotle Mexican Grill were worth $16,875,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of CMG. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its stake in Chipotle Mexican Grill by 4,138,574.1% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 8,318,735 shares of the restaurant operator's stock valued at $501,620,000 after buying an additional 8,318,534 shares in the last quarter. Voya Investment Management LLC lifted its stake in Chipotle Mexican Grill by 114.2% in the fourth quarter. Voya Investment Management LLC now owns 8,986,971 shares of the restaurant operator's stock valued at $541,914,000 after buying an additional 4,790,464 shares in the last quarter. Montrusco Bolton Investments Inc. lifted its stake in Chipotle Mexican Grill by 5,319.7% in the first quarter. Montrusco Bolton Investments Inc. now owns 4,848,990 shares of the restaurant operator's stock valued at $235,580,000 after buying an additional 4,759,520 shares in the last quarter. Manning & Napier Advisors LLC bought a new position in Chipotle Mexican Grill in the first quarter valued at approximately $127,892,000. Finally, Sarasin & Partners LLP lifted its stake in Chipotle Mexican Grill by 1,016.6% in the first quarter. Sarasin & Partners LLP now owns 2,482,333 shares of the restaurant operator's stock valued at $124,638,000 after buying an additional 2,260,016 shares in the last quarter. Institutional investors own 91.31% of the company's stock.

Chipotle Mexican Grill Stock Performance

CMG stock opened at $42.85 on Tuesday. The company's 50-day simple moving average is $51.84 and its 200 day simple moving average is $51.98. Chipotle Mexican Grill, Inc. has a 52 week low of $42.25 and a 52 week high of $66.74. The company has a market capitalization of $57.46 billion, a PE ratio of 38.26, a price-to-earnings-growth ratio of 2.16 and a beta of 1.05.

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The restaurant operator reported $0.33 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 for the quarter, compared to the consensus estimate of $3.11 billion. During the same period in the prior year, the company posted $0.34 earnings per share. Chipotle Mexican Grill's revenue was up 3.0% compared to the same quarter last year. On average, analysts forecast that Chipotle Mexican Grill, Inc. will post 1.29 EPS for the current year.

Insider Activity at Chipotle Mexican Grill

In related news, insider Roger E. Theodoredis sold 113,875 shares of the company's stock in a transaction dated 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 transaction, the insider directly owned 109,815 shares in the company, valued at approximately $5,457,805.50. This represents a 50.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.02% of the company's stock.

Analyst Ratings Changes

A number of brokerages have weighed in on CMG. Argus lowered shares of Chipotle Mexican Grill from a "buy" rating to a "hold" rating in a research note on Monday, April 28th. Melius assumed coverage on shares of Chipotle Mexican Grill in a research report on Monday, July 14th. They issued a "hold" rating and a $60.00 price objective on the stock. Barclays cut their price objective on shares of Chipotle Mexican Grill from $55.00 to $53.00 and set an "equal weight" rating on the stock in a research report on Thursday, July 24th. Wells Fargo & Company cut their price objective on shares of Chipotle Mexican Grill from $65.00 to $60.00 and set an "overweight" rating on the stock in a research report on Thursday, July 24th. Finally, Truist Financial cut their price objective on shares of Chipotle Mexican Grill from $64.00 to $60.00 and set a "buy" rating on the stock in a research report on Friday, July 25th. Nine investment 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. According to MarketBeat, Chipotle Mexican Grill has a consensus rating of "Moderate Buy" and a consensus price target of $60.71.

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.

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