Tocqueville Asset Management L.P. Has $24.77 Million Stock Holdings in Chipotle Mexican Grill, Inc. (NYSE:CMG)

Key Points

• Tocqueville Asset Management L.P. reduced its stake in Chipotle Mexican Grill, Inc. by 7.1% during the first quarter, owning 493,403 shares worth approximately $24.77 million after selling 37,943 shares.
• The stock has a market capitalization of $59.05 billion and has experienced a trading price range between $41.18 and $66.74 over the past year.
• Analysts have mixed sentiments on CMG, with target prices ranging from $46.00 to $65.00, and a consensus rating of "Moderate Buy" based on 28 analyst ratings.

Tocqueville Asset Management L.P. lessened its position in Chipotle Mexican Grill, Inc. (NYSE:CMG - Free Report) by 7.1% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 493,403 shares of the restaurant operator's stock after selling 37,943 shares during the period. Tocqueville Asset Management L.P.'s holdings in Chipotle Mexican Grill were worth $24,774,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in CMG. Revolve Wealth Partners LLC boosted its stake in shares of Chipotle Mexican Grill by 4.7% in 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 in the last quarter. Bank Pictet & Cie Europe AG boosted its stake in shares of Chipotle Mexican Grill by 22.5% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 1,518,593 shares of the restaurant operator's stock valued at $91,571,000 after purchasing an additional 279,267 shares in the last quarter. NewEdge Advisors LLC boosted its stake in shares of Chipotle Mexican Grill by 8.7% in the 4th quarter. NewEdge Advisors LLC now owns 132,724 shares of the restaurant operator's stock valued at $8,003,000 after purchasing an additional 10,622 shares in the last quarter. GKV Capital Management Co. Inc. acquired a new stake in shares of Chipotle Mexican Grill in the 4th quarter valued at $60,000. Finally, CANADA LIFE ASSURANCE Co boosted its stake in shares of Chipotle Mexican Grill by 0.6% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 1,445,242 shares of the restaurant operator's stock valued at $87,115,000 after purchasing an additional 8,609 shares in the last quarter. Institutional investors and hedge funds own 91.31% of the company's stock.

Chipotle Mexican Grill Trading Up 2.0%

Shares of NYSE:CMG opened at $44.04 on Friday. The stock has a market capitalization of $59.05 billion, a P/E ratio of 39.32, a P/E/G ratio of 2.19 and a beta of 1.05. Chipotle Mexican Grill, Inc. has a 1-year low of $41.18 and a 1-year high of $66.74. The business has a 50-day moving average price of $50.37 and a two-hundred day moving average price of $51.15.

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

Analysts Set New Price Targets

Several brokerages have recently commented on CMG. Raymond James Financial reduced their target price on shares of Chipotle Mexican Grill from $60.00 to $56.00 and set an "outperform" rating on the stock in a research note on Friday. Guggenheim cut their price target on Chipotle Mexican Grill from $47.00 to $46.00 and set a "neutral" rating for the company in a report on Friday, July 25th. UBS Group lifted their price target on Chipotle Mexican Grill from $60.00 to $65.00 and gave the company a "buy" rating in a report on Thursday, July 17th. Wells Fargo & Company cut their price target on Chipotle Mexican Grill from $65.00 to $60.00 and set an "overweight" rating for the company in a report on Thursday, July 24th. Finally, BMO Capital Markets raised Chipotle Mexican Grill from a "market perform" rating to an "outperform" rating and lifted their price target for the company from $56.00 to $65.00 in a report on Friday, July 18th. Eight equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $60.22.

Insider Activity at Chipotle Mexican Grill

In other news, insider Roger E. Theodoredis sold 113,875 shares of the company's stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $49.70, for a total value 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. This represents a 50.91% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.81% of the stock is currently owned by company insiders.

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.

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