Massachusetts Financial Services Co. MA Sells 1,642,423 Shares of Chipotle Mexican Grill, Inc. (NYSE:CMG)

Massachusetts Financial Services Co. MA reduced its position in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG - Free Report) by 16.8% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 8,121,380 shares of the restaurant operator's stock after selling 1,642,423 shares during the quarter. Massachusetts Financial Services Co. MA owned about 0.60% of Chipotle Mexican Grill worth $407,774,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Revolve Wealth Partners LLC grew its stake in shares of Chipotle Mexican Grill by 4.7% during the 4th quarter. Revolve Wealth Partners LLC now owns 4,804 shares of the restaurant operator's stock valued at $290,000 after purchasing an additional 214 shares during the period. Money Concepts Capital Corp grew its position in Chipotle Mexican Grill by 3.0% during the first quarter. Money Concepts Capital Corp now owns 7,491 shares of the restaurant operator's stock valued at $376,000 after buying an additional 221 shares during the period. SlateStone Wealth LLC increased its holdings in Chipotle Mexican Grill by 3.4% during the fourth quarter. SlateStone Wealth LLC now owns 7,196 shares of the restaurant operator's stock valued at $434,000 after buying an additional 235 shares during the last quarter. Northwest Bank & Trust Co boosted its stake in shares of Chipotle Mexican Grill by 0.5% during the 4th quarter. Northwest Bank & Trust Co now owns 45,324 shares of the restaurant operator's stock worth $2,788,000 after acquiring an additional 236 shares during the last quarter. Finally, Linden Thomas Advisory Services LLC grew its position in shares of Chipotle Mexican Grill by 2.6% during the 1st quarter. Linden Thomas Advisory Services LLC now owns 9,728 shares of the restaurant operator's stock valued at $488,000 after acquiring an additional 243 shares during the period. Institutional investors own 91.31% of the company's stock.

Chipotle Mexican Grill Stock Down 2.1%

CMG opened at $54.81 on Tuesday. The firm has a 50-day simple moving average of $52.68 and a two-hundred day simple moving average of $53.02. The company has a market capitalization of $73.85 billion, a PE ratio of 48.51, a price-to-earnings-growth ratio of 2.78 and a beta of 1.08. Chipotle Mexican Grill, Inc. has a 52 week low of $44.46 and a 52 week high of $66.74.

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The restaurant operator reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.01. The firm had revenue of $2.88 billion for the quarter, compared to analysts' expectations of $2.98 billion. Chipotle Mexican Grill had a net margin of 13.59% and a return on equity of 43.29%. The business's revenue was up 6.4% compared to the same quarter last year. During the same period in the prior year, the company earned $13.37 EPS. As a group, sell-side analysts expect that Chipotle Mexican Grill, Inc. will post 1.29 earnings per share for the current year.

Insider Activity

In other 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 transaction of $5,659,587.50. Following the sale, 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.02% of the company's stock.

Wall Street Analyst Weigh In

CMG has been the subject of a number of recent research reports. TD Securities reissued a "buy" rating and set a $57.00 price objective on shares of Chipotle Mexican Grill in a research report on Wednesday, June 18th. Melius initiated coverage on shares of Chipotle Mexican Grill in a research report on Monday. They set a "hold" rating and a $60.00 price objective for the company. Piper Sandler cut their price objective on shares of Chipotle Mexican Grill from $59.00 to $52.00 and set a "neutral" rating for the company in a research report on Thursday, April 24th. Barclays boosted their price objective on shares of Chipotle Mexican Grill from $52.00 to $54.00 and gave the company an "equal weight" rating in a research report on Thursday, June 26th. Finally, Loop Capital cut their price objective on shares of Chipotle Mexican Grill from $65.00 to $63.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. Ten research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Chipotle Mexican Grill presently has an average rating of "Moderate Buy" and an average target price of $61.21.

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.

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