Pacer Advisors Inc. Trims Stake in Chipotle Mexican Grill, Inc. (NYSE:CMG)

Key Points

• Pacer Advisors Inc. reduced its stake in Chipotle Mexican Grill by 35.6%, now owning 71,819 shares worth approximately $3.6 million.
• Various analysts have updated their ratings on Chipotle, with price targets ranging from $58.00 to $63.00, while the overall consensus remains a "Moderate Buy."
• Insider Roger E. Theodoredis sold 113,875 shares of Chipotle, a 50.91% decrease in his ownership, valued at around $5.65 million.

Pacer Advisors Inc. decreased its position in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG - Free Report) by 35.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 71,819 shares of the restaurant operator's stock after selling 39,640 shares during the quarter. Pacer Advisors Inc.'s holdings in Chipotle Mexican Grill were worth $3,606,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its holdings 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 purchasing an additional 8,318,534 shares during the period. Alliancebernstein L.P. grew its holdings in Chipotle Mexican Grill by 29.5% in the fourth quarter. Alliancebernstein L.P. now owns 30,100,520 shares of the restaurant operator's stock valued at $1,815,061,000 after purchasing an additional 6,853,470 shares during the period. Voya Investment Management LLC grew its holdings 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 purchasing an additional 4,790,464 shares during the period. Montrusco Bolton Investments Inc. lifted its position in shares of 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 acquiring an additional 4,759,520 shares in the last quarter. Finally, Clearbridge Investments LLC lifted its position in shares of Chipotle Mexican Grill by 2,145.9% in the fourth quarter. Clearbridge Investments LLC now owns 3,180,051 shares of the restaurant operator's stock valued at $191,757,000 after acquiring an additional 3,038,460 shares in the last quarter. Institutional investors and hedge funds own 91.31% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on CMG shares. Piper Sandler raised their target price on Chipotle Mexican Grill from $52.00 to $53.00 and gave the company a "neutral" rating in a research report on Thursday, July 24th. Argus downgraded Chipotle Mexican Grill from a "buy" rating to a "hold" rating in a research report on Monday, April 28th. Barclays decreased their target price on 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. Redburn Atlantic assumed coverage on Chipotle Mexican Grill in a research report on Tuesday, June 10th. They set a "neutral" rating and a $55.00 price objective on the stock. Finally, Morgan Stanley reduced their price objective on Chipotle Mexican Grill from $67.00 to $65.00 and set an "overweight" rating on the stock in a research report on Thursday, April 24th. 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 stock. According to data from MarketBeat, Chipotle Mexican Grill has a consensus rating of "Moderate Buy" and an average price target of $60.71.

Chipotle Mexican Grill Trading Down 0.8%

CMG traded down $0.36 on Friday, hitting $42.52. 8,863,436 shares of the company were exchanged, compared to its average volume of 13,849,618. Chipotle Mexican Grill, Inc. has a twelve month low of $42.50 and a twelve month high of $66.74. The company has a market cap of $57.29 billion, a price-to-earnings ratio of 37.95, a price-to-earnings-growth ratio of 2.23 and a beta of 1.08. The firm has a 50-day moving average price of $52.16 and a two-hundred day moving average price of $52.26.

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

Insider Buying and Selling

In other Chipotle Mexican Grill news, insider Roger E. Theodoredis sold 113,875 shares of Chipotle Mexican Grill stock in a transaction dated 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 completion of the sale, the insider directly owned 109,815 shares of the company's stock, valued at $5,457,805.50. The trade was a 50.91% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.81% of the stock is owned by insiders.

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.