Bridgewater Associates LP Sells 833,722 Shares of Chipotle Mexican Grill, Inc. (NYSE:CMG)

Bridgewater Associates LP decreased its stake in Chipotle Mexican Grill, Inc. (NYSE:CMG) by 39.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,256,728 shares of the restaurant operator’s stock after selling 833,722 shares during the period. Bridgewater Associates LP owned about 0.09% of Chipotle Mexican Grill worth $72,413,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Shellback Capital LP raised its stake in shares of Chipotle Mexican Grill by 4,900.0% during the second quarter. Shellback Capital LP now owns 125,000 shares of the restaurant operator’s stock valued at $7,831,000 after acquiring an additional 122,500 shares during the last quarter. Swedbank AB bought a new position in shares of Chipotle Mexican Grill during the first quarter valued at $53,979,000. Optas LLC raised its stake in shares of Chipotle Mexican Grill by 318.5% during the third quarter. Optas LLC now owns 17,160 shares of the restaurant operator’s stock valued at $989,000 after acquiring an additional 13,060 shares during the last quarter. L & S Advisors Inc bought a new position in shares of Chipotle Mexican Grill during the third quarter valued at $3,256,000. Finally, Savvy Advisors Inc. bought a new position in shares of Chipotle Mexican Grill during the third quarter valued at $758,000. Institutional investors own 91.31% of the company’s stock.

Chipotle Mexican Grill Price Performance

CMG opened at $62.70 on Wednesday. The company’s 50-day moving average is $58.62 and its 200 day moving average is $81.14. Chipotle Mexican Grill, Inc. has a fifty-two week low of $43.66 and a fifty-two week high of $69.26. The firm has a market capitalization of $85.43 billion, a P/E ratio of 58.36, a PEG ratio of 2.49 and a beta of 1.26.

Chipotle Mexican Grill (NYSE:CMG) last announced its quarterly earnings data on Tuesday, October 29th. The restaurant operator reported $0.27 EPS for the quarter, topping the consensus estimate of $0.25 by $0.02. Chipotle Mexican Grill had a net margin of 13.51% and a return on equity of 43.20%. The business had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.82 billion. During the same quarter in the previous year, the firm posted $0.23 earnings per share. The company’s revenue for the quarter was up 13.0% on a year-over-year basis. On average, equities research analysts expect that Chipotle Mexican Grill, Inc. will post 1.11 earnings per share for the current year.

Insider Activity at Chipotle Mexican Grill

In other Chipotle Mexican Grill news, insider Curtis E. Garner sold 15,750 shares of the business’s stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $55.02, for a total value of $866,565.00. Following the completion of the transaction, the insider now owns 473,514 shares of the company’s stock, valued at $26,052,740.28. The trade was a 3.22 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robin S. Hickenlooper sold 1,790 shares of the business’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $2,340,333.80. This represents a 4.13 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 33,290 shares of company stock valued at $1,866,023. Corporate insiders own 1.02% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Oppenheimer reiterated an “outperform” rating and set a $65.00 price objective on shares of Chipotle Mexican Grill in a research report on Monday, September 30th. Robert W. Baird increased their price objective on shares of Chipotle Mexican Grill from $62.00 to $70.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Wedbush reiterated an “outperform” rating and set a $69.00 price objective on shares of Chipotle Mexican Grill in a research report on Wednesday, October 30th. Truist Financial increased their price objective on shares of Chipotle Mexican Grill from $71.00 to $72.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Finally, Citigroup decreased their price objective on shares of Chipotle Mexican Grill from $71.00 to $70.00 and set a “buy” rating for the company in a research report on Wednesday, October 30th. Ten equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $65.27.

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.