Connective Portfolio Management LLC Sells 2,000 Shares of Chipotle Mexican Grill, Inc. (NYSE:CMG)

Connective Portfolio Management LLC lessened its stake in Chipotle Mexican Grill, Inc. (NYSE:CMG) by 10.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 18,000 shares of the restaurant operator’s stock after selling 2,000 shares during the quarter. Chipotle Mexican Grill comprises about 1.1% of Connective Portfolio Management LLC’s investment portfolio, making the stock its 22nd largest holding. Connective Portfolio Management LLC’s holdings in Chipotle Mexican Grill were worth $1,029,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in CMG. Royal Fund Management LLC bought a new stake in shares of Chipotle Mexican Grill in the 3rd quarter valued at about $1,962,000. Howard Financial Services LTD. grew its holdings in Chipotle Mexican Grill by 1.3% during the third quarter. Howard Financial Services LTD. now owns 94,000 shares of the restaurant operator’s stock valued at $5,416,000 after purchasing an additional 1,250 shares during the period. Gratus Wealth Advisors LLC increased its stake in Chipotle Mexican Grill by 57.2% in the third quarter. Gratus Wealth Advisors LLC now owns 29,524 shares of the restaurant operator’s stock valued at $1,675,000 after purchasing an additional 10,744 shares in the last quarter. Brookstone Capital Management raised its holdings in Chipotle Mexican Grill by 71.6% in the third quarter. Brookstone Capital Management now owns 46,639 shares of the restaurant operator’s stock worth $2,687,000 after purchasing an additional 19,464 shares during the period. Finally, City Holding Co. boosted its position in shares of Chipotle Mexican Grill by 12.7% during the third quarter. City Holding Co. now owns 84,134 shares of the restaurant operator’s stock worth $4,847,000 after purchasing an additional 9,484 shares in the last quarter. Institutional investors and hedge funds own 91.31% of the company’s stock.

Insider Transactions at Chipotle Mexican Grill

In other Chipotle Mexican Grill news, insider Curtis E. Garner sold 15,750 shares of the stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $57.05, for a total value of $898,537.50. Following the transaction, the insider now directly owns 457,764 shares of the company’s stock, valued at $26,115,436.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Curtis E. Garner sold 15,750 shares of Chipotle Mexican Grill stock in a transaction on Monday, October 7th. The stock was sold at an average price of $57.05, for a total transaction of $898,537.50. Following the completion of the sale, the insider now owns 457,764 shares of the company’s stock, valued at approximately $26,115,436.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robin S. Hickenlooper sold 1,790 shares of the business’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $56.38, for a total transaction of $100,920.20. Following the completion of the sale, the director now directly owns 41,510 shares of the company’s stock, valued at approximately $2,340,333.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 50,684 shares of company stock worth $2,817,127. 1.02% of the stock is owned by insiders.

Analyst Ratings Changes

Several research analysts have weighed in on CMG shares. Citigroup lifted their target price on Chipotle Mexican Grill from $69.00 to $71.00 and gave the stock a “buy” rating in a report on Wednesday, October 2nd. Truist Financial reiterated a “buy” rating and issued a $69.00 price objective on shares of Chipotle Mexican Grill in a research report on Tuesday, August 13th. Stifel Nicolaus restated a “buy” rating and set a $70.00 target price on shares of Chipotle Mexican Grill in a report on Wednesday, August 14th. The Goldman Sachs Group reduced their price target on shares of Chipotle Mexican Grill from $74.60 to $67.00 and set a “buy” rating for the company in a report on Thursday, July 25th. Finally, Stephens restated an “equal weight” rating and set a $61.00 price objective on shares of Chipotle Mexican Grill in a report on Tuesday, August 13th. Ten equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $62.44.

Chipotle Mexican Grill Stock Down 0.2 %

Shares of CMG stock traded down $0.13 on Wednesday, reaching $57.85. The stock had a trading volume of 872,196 shares, compared to its average volume of 14,290,787. The firm’s 50-day moving average is $55.31 and its two-hundred day moving average is $81.40. The firm has a market capitalization of $79.45 billion, a price-to-earnings ratio of 61.69, a P/E/G ratio of 2.43 and a beta of 1.25. Chipotle Mexican Grill, Inc. has a 12 month low of $35.37 and a 12 month high of $69.26.

Chipotle Mexican Grill (NYSE:CMG) last posted its quarterly earnings results on Wednesday, July 24th. The restaurant operator reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates 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 quarter in the prior year, the business earned $12.65 EPS. The firm’s revenue for the quarter was up 18.2% on a year-over-year basis. On average, sell-side analysts forecast that Chipotle Mexican Grill, Inc. will post 1.08 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.