Neo Ivy Capital Management Buys 57,283 Shares of Chipotle Mexican Grill, Inc. (NYSE:CMG)

Key Points

• Neo Ivy Capital Management increased its position in Chipotle Mexican Grill by 961.9% in the first quarter, now holding 63,238 shares valued at approximately $3.17 million.
• Insider Roger E. Theodoredis sold 113,875 shares of Chipotle stock, reducing their ownership by over 50% amid significant trades by several other hedge funds.
• Chipotle's recent quarterly earnings report showed $0.33 earnings per share, surpassing analyst expectations, while revenue increased by 3.0% year-over-year, totaling $3.06 billion.

Neo Ivy Capital Management boosted its position in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG - Free Report) by 961.9% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 63,238 shares of the restaurant operator's stock after buying an additional 57,283 shares during the quarter. Chipotle Mexican Grill accounts for approximately 1.0% of Neo Ivy Capital Management's investment portfolio, making the stock its 13th largest position. Neo Ivy Capital Management's holdings in Chipotle Mexican Grill were worth $3,175,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Cloud Capital Management LLC acquired a new position in shares of Chipotle Mexican Grill in the 1st quarter valued at $25,000. HighMark Wealth Management LLC boosted its position in shares of Chipotle Mexican Grill by 173.4% in the 1st quarter. HighMark Wealth Management LLC now owns 585 shares of the restaurant operator's stock valued at $29,000 after purchasing an additional 371 shares during the period. North Capital Inc. acquired a new position in shares of Chipotle Mexican Grill in the 1st quarter valued at $30,000. ORG Wealth Partners LLC acquired a new position in shares of Chipotle Mexican Grill in the 1st quarter valued at $31,000. Finally, Murphy & Mullick Capital Management Corp acquired a new position in shares of Chipotle Mexican Grill in the 4th quarter valued at $38,000. Institutional investors own 91.31% of the company's stock.

Chipotle Mexican Grill Stock Down 2.8%

NYSE:CMG traded down $1.32 on Monday, hitting $45.45. The stock had a trading volume of 11,327,589 shares, compared to its average volume of 13,434,788. The company has a market cap of $61.23 billion, a PE ratio of 40.59, a P/E/G ratio of 2.38 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. The business's fifty day moving average is $52.75 and its 200 day moving average is $52.54.

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

Insider Activity 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 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 trade represents a 50.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.02% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on CMG shares. Barclays reduced their price objective on Chipotle Mexican Grill from $55.00 to $53.00 and set an "equal weight" rating for the company in a research note on Thursday. TD Cowen reduced their price objective on Chipotle Mexican Grill from $61.00 to $58.00 and set a "buy" rating for the company in a research note on Wednesday, July 23rd. Truist Financial reduced their price objective on Chipotle Mexican Grill from $64.00 to $60.00 and set a "buy" rating for the company in a research note on Friday. Piper Sandler increased their price objective on Chipotle Mexican Grill from $52.00 to $53.00 and gave the stock a "neutral" rating in a research note on Thursday. Finally, Raymond James Financial reaffirmed an "outperform" rating and set a $60.00 price target (down from $62.00) on shares of Chipotle Mexican Grill in a research note on Thursday. Nine equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $60.71.

Chipotle Mexican Grill Company 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.