ING Groep NV Sells 18,550 Shares of Chipotle Mexican Grill, Inc. (NYSE:CMG)

ING Groep NV reduced its holdings in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG) by 9.7% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 172,750 shares of the restaurant operator’s stock after selling 18,550 shares during the quarter. ING Groep NV’s holdings in Chipotle Mexican Grill were worth $9,954,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Empowered Funds LLC boosted its stake in shares of Chipotle Mexican Grill by 27.9% in the 1st quarter. Empowered Funds LLC now owns 344 shares of the restaurant operator’s stock valued at $1,000,000 after purchasing an additional 75 shares in the last quarter. QRG Capital Management Inc. increased its holdings in Chipotle Mexican Grill by 9.7% in the first quarter. QRG Capital Management Inc. now owns 373 shares of the restaurant operator’s stock valued at $1,085,000 after purchasing an additional 33 shares during the period. Kingsview Wealth Management LLC increased its stake in shares of Chipotle Mexican Grill by 41.2% in the first quarter. Kingsview Wealth Management LLC now owns 521 shares of the restaurant operator’s stock valued at $1,514,000 after buying an additional 152 shares during the period. Orion Portfolio Solutions LLC raised its holdings in Chipotle Mexican Grill by 29.9% during the 1st quarter. Orion Portfolio Solutions LLC now owns 1,539 shares of the restaurant operator’s stock worth $4,474,000 after purchasing an additional 354 shares during the last quarter. Finally, Nwam LLC bought a new position in Chipotle Mexican Grill during the first quarter worth $220,000. 91.31% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CMG has been the topic of a number of research reports. Stifel Nicolaus reiterated a “buy” rating and set a $70.00 target price on shares of Chipotle Mexican Grill in a research report on Wednesday, August 14th. Guggenheim raised 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 note on Wednesday, July 24th. Wedbush reaffirmed an “outperform” rating and issued a $69.00 price objective on shares of Chipotle Mexican Grill in a research note on Wednesday, October 30th. Citigroup lowered their target price on shares of Chipotle Mexican Grill from $71.00 to $70.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. Finally, Oppenheimer reiterated an “outperform” rating and set a $65.00 price target on shares of Chipotle Mexican Grill in a research note on Monday, September 30th. Ten research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $64.47.

Chipotle Mexican Grill Stock Performance

Shares of CMG opened at $59.92 on Friday. The stock has a market capitalization of $81.64 billion, a price-to-earnings ratio of 55.77, a price-to-earnings-growth ratio of 2.39 and a beta of 1.26. Chipotle Mexican Grill, Inc. has a 52-week low of $42.98 and a 52-week high of $69.26. The stock’s 50-day simple moving average is $57.78 and its 200 day simple moving average is $81.24.

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

Insider Activity

In related news, insider Curtis E. Garner sold 15,750 shares of the company’s stock in a transaction 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 directly owns 473,514 shares in the company, valued at approximately $26,052,740.28. The trade was a 3.22 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robin S. Hickenlooper sold 1,790 shares of the firm’s stock in a transaction dated 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 owns 41,510 shares in the company, valued at $2,340,333.80. The trade was a 4.13 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 33,290 shares of company stock worth $1,866,023. 1.02% of the stock is currently owned by corporate 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.