Algert Global LLC Takes $1.56 Million Position in Chipotle Mexican Grill, Inc. (NYSE:CMG)

Algert Global LLC purchased a new stake in Chipotle Mexican Grill, Inc. (NYSE:CMG) during the third quarter, according to its most recent filing with the SEC. The firm purchased 26,981 shares of the restaurant operator’s stock, valued at approximately $1,555,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Westwood Holdings Group Inc. grew its stake in Chipotle Mexican Grill by 1.1% during the 1st quarter. Westwood Holdings Group Inc. now owns 13,490 shares of the restaurant operator’s stock worth $39,212,000 after buying an additional 149 shares during the last quarter. Lecap Asset Management Ltd. grew its stake in Chipotle Mexican Grill by 1.2% during the 3rd quarter. Lecap Asset Management Ltd. now owns 14,625 shares of the restaurant operator’s stock worth $843,000 after buying an additional 175 shares during the last quarter. Connable Office Inc. grew its stake in Chipotle Mexican Grill by 0.6% during the 3rd quarter. Connable Office Inc. now owns 31,928 shares of the restaurant operator’s stock worth $1,840,000 after buying an additional 178 shares during the last quarter. Albion Financial Group UT grew its stake in Chipotle Mexican Grill by 14.4% during the 3rd quarter. Albion Financial Group UT now owns 1,430 shares of the restaurant operator’s stock worth $82,000 after buying an additional 180 shares during the last quarter. Finally, CVA Family Office LLC grew its stake in Chipotle Mexican Grill by 8.7% during the 3rd quarter. CVA Family Office LLC now owns 2,313 shares of the restaurant operator’s stock worth $133,000 after buying an additional 185 shares during the last quarter. 91.31% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have weighed in on CMG. Wells Fargo & Company boosted their price target on Chipotle Mexican Grill from $66.00 to $67.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Barclays boosted their price objective on Chipotle Mexican Grill from $55.00 to $60.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. 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 report on Wednesday, October 30th. Loop Capital boosted their price objective on Chipotle Mexican Grill from $53.00 to $58.00 and gave the company a “hold” rating in a report on Wednesday, October 30th. Finally, Piper Sandler boosted their price objective on Chipotle Mexican Grill from $59.00 to $60.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Ten analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Chipotle Mexican Grill currently has a consensus rating of “Moderate Buy” and an average price target of $65.27.

Insider Activity

In related news, insider Curtis E. Garner sold 15,750 shares of the stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $57.05, for a total value of $898,537.50. Following the completion of the transaction, the insider now directly owns 457,764 shares in the company, valued at approximately $26,115,436.20. This represents a 3.33 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Robin S. Hickenlooper sold 1,790 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $56.38, for a total value of $100,920.20. Following the completion of the transaction, the director now owns 41,510 shares of the company’s stock, valued at $2,340,333.80. The trade was a 4.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 33,290 shares of company stock worth $1,866,023 over the last ninety days. Corporate insiders own 1.02% of the company’s stock.

Chipotle Mexican Grill Price Performance

CMG stock opened at $62.05 on Friday. The business has a 50 day simple moving average of $58.81 and a 200-day simple moving average of $80.88. The firm has a market capitalization of $84.55 billion, a PE ratio of 57.99, a price-to-earnings-growth ratio of 2.49 and a beta of 1.26. Chipotle Mexican Grill, Inc. has a 1 year low of $43.66 and a 1 year high of $69.26.

Chipotle Mexican Grill (NYSE:CMG) last posted its quarterly 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 business had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.82 billion. Chipotle Mexican Grill had a return on equity of 43.20% and a net margin of 13.51%. The business’s revenue was up 13.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.23 earnings per share. On average, equities research analysts expect that Chipotle Mexican Grill, Inc. will post 1.11 EPS for the current year.

Chipotle Mexican Grill 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.