Seven Eight Capital LP Purchases 71,338 Shares of Chipotle Mexican Grill, Inc. (NYSE:CMG)

Seven Eight Capital LP grew its stake in Chipotle Mexican Grill, Inc. (NYSE:CMG) by 4,461.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 72,937 shares of the restaurant operator’s stock after buying an additional 71,338 shares during the period. Chipotle Mexican Grill accounts for 0.5% of Seven Eight Capital LP’s holdings, making the stock its 28th biggest position. Seven Eight Capital LP’s holdings in Chipotle Mexican Grill were worth $4,570,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in CMG. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Chipotle Mexican Grill in the second quarter worth $25,000. Riverview Trust Co raised its holdings in shares of Chipotle Mexican Grill by 4,900.0% in the second quarter. Riverview Trust Co now owns 400 shares of the restaurant operator’s stock worth $25,000 after buying an additional 392 shares during the last quarter. RiverPark Advisors LLC raised its holdings in shares of Chipotle Mexican Grill by 4,900.0% in the second quarter. RiverPark Advisors LLC now owns 400 shares of the restaurant operator’s stock worth $25,000 after buying an additional 392 shares during the last quarter. Archer Investment Corp purchased a new position in shares of Chipotle Mexican Grill in the second quarter worth $25,000. Finally, Chilton Capital Management LLC purchased a new position in shares of Chipotle Mexican Grill in the second quarter worth $27,000. Hedge funds and other institutional investors own 91.31% of the company’s stock.

Insider Transactions at Chipotle Mexican Grill

In other news, Director Robin S. Hickenlooper sold 1,790 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $56.38, for a total transaction of $100,920.20. Following the completion of the transaction, the director now directly owns 41,510 shares in the company, valued at approximately $2,340,333.80. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, insider Curtis E. Garner sold 17,394 shares of the stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $54.68, for a total transaction of $951,103.92. Following the transaction, the insider now owns 358,300 shares of the company’s stock, valued at approximately $19,591,844. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Robin S. Hickenlooper sold 1,790 shares of the stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $56.38, for a total value of $100,920.20. Following the transaction, the director now directly owns 41,510 shares in the company, valued at approximately $2,340,333.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 34,934 shares of company stock worth $1,918,589. 1.02% of the stock is currently owned by company insiders.

Chipotle Mexican Grill Price Performance

Shares of Chipotle Mexican Grill stock opened at $58.50 on Wednesday. The stock has a market cap of $80.34 billion, a P/E ratio of 62.23, a P/E/G ratio of 2.33 and a beta of 1.25. The stock’s 50 day simple moving average is $54.29 and its 200-day simple moving average is $81.15. Chipotle Mexican Grill, Inc. has a 1-year low of $35.37 and a 1-year high of $69.26.

Chipotle Mexican Grill (NYSE:CMG) last issued its earnings results on Wednesday, July 24th. The restaurant operator reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.02. Chipotle Mexican Grill had a return on equity of 44.01% and a net margin of 13.23%. The business had revenue of $2.97 billion for the quarter, compared to analysts’ expectations of $2.94 billion. During the same period in the previous year, the firm posted $12.65 EPS. The business’s revenue for the quarter was up 18.2% compared to the same quarter last year. As a group, research analysts expect that Chipotle Mexican Grill, Inc. will post 1.08 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Stephens reaffirmed an “equal weight” rating and set a $61.00 price target on shares of Chipotle Mexican Grill in a research report on Tuesday, August 13th. Raymond James cut their target price on shares of Chipotle Mexican Grill from $70.00 to $62.50 and set an “outperform” rating for the company in a report on Thursday, July 25th. Truist Financial reissued a “buy” rating and set a $69.00 price target on shares of Chipotle Mexican Grill in a report on Tuesday, August 13th. Robert W. Baird cut their price objective on shares of Chipotle Mexican Grill from $74.00 to $62.00 and set an “outperform” rating for the company in a report on Wednesday, August 14th. Finally, Citigroup lowered their target price on shares of Chipotle Mexican Grill from $71.00 to $69.00 and set a “buy” rating on the stock in a research note on Thursday, July 25th. Ten investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $62.36.

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.