Cornerstone Advisors LLC Increases Stake in Chipotle Mexican Grill, Inc. (NYSE:CMG)

Cornerstone Advisors LLC boosted its position in Chipotle Mexican Grill, Inc. (NYSE:CMG) by 1.1% during the 3rd quarter, Holdings Channel reports. The fund owned 75,800 shares of the restaurant operator’s stock after acquiring an additional 800 shares during the quarter. Cornerstone Advisors LLC’s holdings in Chipotle Mexican Grill were worth $4,368,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. American Century Companies Inc. grew its stake in shares of Chipotle Mexican Grill by 4,732.3% during the second quarter. American Century Companies Inc. now owns 20,177,309 shares of the restaurant operator’s stock worth $1,264,109,000 after purchasing an additional 19,759,754 shares in the last quarter. Legal & General Group Plc grew its position in shares of Chipotle Mexican Grill by 5,209.5% in the 2nd quarter. Legal & General Group Plc now owns 10,935,669 shares of the restaurant operator’s stock valued at $685,128,000 after buying an additional 10,729,706 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in Chipotle Mexican Grill by 5,930.8% in the second quarter. Massachusetts Financial Services Co. MA now owns 10,310,132 shares of the restaurant operator’s stock valued at $645,930,000 after acquiring an additional 10,139,174 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Chipotle Mexican Grill by 4,816.1% during the second quarter. Bank of New York Mellon Corp now owns 8,356,173 shares of the restaurant operator’s stock worth $523,514,000 after purchasing an additional 8,186,198 shares in the last quarter. Finally, Marshall Wace LLP lifted its holdings in shares of Chipotle Mexican Grill by 76,617.6% in the 2nd quarter. Marshall Wace LLP now owns 5,904,952 shares of the restaurant operator’s stock valued at $369,945,000 after purchasing an additional 5,897,255 shares during the last quarter. Institutional investors and hedge funds own 91.31% of the company’s stock.

Analysts Set New Price Targets

CMG has been the subject of a number of research reports. TD Cowen boosted their price objective on Chipotle Mexican Grill from $65.00 to $68.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. KeyCorp lowered their price objective on shares of Chipotle Mexican Grill from $68.00 to $66.00 and set an “overweight” rating on the stock in a research report on Thursday, July 25th. Stifel Nicolaus reissued a “buy” rating and set a $70.00 price target on shares of Chipotle Mexican Grill in a report on Wednesday, August 14th. Wells Fargo & Company increased their price objective on Chipotle Mexican Grill from $66.00 to $67.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Finally, Guggenheim lifted their price objective on shares of Chipotle Mexican Grill from $54.50 to $55.00 and gave the company a “neutral” rating in a research report on Wednesday, July 24th. Ten investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $65.27.

Insider Transactions at Chipotle Mexican Grill

In related news, Director Robin S. Hickenlooper sold 1,790 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $56.38, for a total value of $100,920.20. Following the sale, the director now directly owns 41,510 shares of the company’s stock, valued at $2,340,333.80. This represents a 4.13 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Curtis E. Garner sold 15,750 shares of the firm’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $55.02, for a total transaction of $866,565.00. Following the transaction, the insider now directly owns 473,514 shares of the company’s stock, valued at approximately $26,052,740.28. This represents a 3.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 33,290 shares of company stock worth $1,866,023 in the last ninety days. Insiders own 1.02% of the company’s stock.

Chipotle Mexican Grill Stock Performance

CMG stock opened at $58.88 on Thursday. Chipotle Mexican Grill, Inc. has a one year low of $43.66 and a one year high of $69.26. The stock has a market capitalization of $80.23 billion, a P/E ratio of 55.03, a PEG ratio of 2.36 and a beta of 1.26. The company has a 50 day moving average price of $58.26 and a two-hundred day moving average price of $81.10.

Chipotle Mexican Grill (NYSE:CMG) last released its earnings results on Tuesday, October 29th. The restaurant operator reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.02. The firm had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.82 billion. Chipotle Mexican Grill had a net margin of 13.51% and a return on equity of 43.20%. Chipotle Mexican Grill’s revenue was up 13.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.23 earnings per share. Research analysts forecast that Chipotle Mexican Grill, Inc. will post 1.11 earnings per share for the current fiscal year.

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.