Chipotle Mexican Grill, Inc. $CMG Stake Increased by Canandaigua National Bank & Trust Co.

Canandaigua National Bank & Trust Co. increased its position in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG) by 160.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 122,420 shares of the restaurant operator’s stock after acquiring an additional 75,506 shares during the quarter. Canandaigua National Bank & Trust Co.’s holdings in Chipotle Mexican Grill were worth $3,911,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the stock. MV Capital Management Inc. acquired a new stake in Chipotle Mexican Grill during the 4th quarter worth approximately $26,000. Osbon Capital Management LLC acquired a new position in Chipotle Mexican Grill in the 4th quarter worth about $28,000. Meeder Asset Management Inc. bought a new stake in shares of Chipotle Mexican Grill in the 2nd quarter valued at about $27,000. Kelleher Financial Advisors bought a new stake in shares of Chipotle Mexican Grill in the 2nd quarter valued at about $28,000. Finally, Merkkuri Wealth Advisors LLC bought a new stake in shares of Chipotle Mexican Grill during the 1st quarter valued at about $28,000. 91.30% of the stock is currently owned by institutional investors.

Key Headlines Impacting Chipotle Mexican Grill

Here are the key news stories impacting Chipotle Mexican Grill this week:

• Positive Sentiment: Third-quarter revenue rose 9.6% to $3.29 billion, in line with expectations, while comparable-restaurant sales increased 2.1% and transactions grew for the third consecutive quarter. Value offers and limited-time menu items helped attract diners. Chipotle beats quarterly sales expectations on resilient demand
• Positive Sentiment: Investors responded favorably to signs of a traffic recovery following earlier food-safety concerns. New menu launches, refreshed loyalty benefits and plans to accelerate technology and menu innovation are supporting the turnaround. Chipotle Sales Beat as New Chicken, Chips Bring Diners Back
• Positive Sentiment: Chipotle opened 84 company-owned restaurants during the quarter, and its loyalty program surpassed 24 million members, providing additional long-term growth and customer-engagement potential. Chipotle: 3 Key Takeaways for Long-Term Investors
• Positive Sentiment: Several analysts maintained bullish ratings, including DA Davidson and BTIG Research at $45 targets and Oppenheimer at a $51 target, implying substantial upside based on the supplied reference price. Oppenheimer analyst rating
• Neutral Sentiment: Analyst opinion remains mixed: Citigroup kept a Buy rating while cutting its target to $41, whereas BNP Paribas Exane retained Neutral and reduced its target to $36. Bernstein also lowered its target to $43 from $50. Citigroup price target
• Negative Sentiment: Adjusted earnings were $0.27 per share, below the $0.29 consensus and last year’s $0.29, as higher operating costs, beef prices and increased protein usage pressured margins. Chipotle Q3 earnings miss estimates
• Negative Sentiment: Management’s outlook calls for only modestly higher sales, leaving investors dependent on the fourth-quarter brisket launch, continued traffic gains and successful cost management to sustain the recovery. The rest of Chipotle’s year hinges on brisket

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. DA Davidson reissued a “buy” rating and issued a $45.00 target price on shares of Chipotle Mexican Grill in a research report on Thursday. Oppenheimer reaffirmed an “outperform” rating and set a $51.00 price target on shares of Chipotle Mexican Grill in a research note on Thursday. UBS Group reiterated a “buy” rating on shares of Chipotle Mexican Grill in a report on Friday, October 9th. Robert W. Baird reduced their target price on Chipotle Mexican Grill from $40.00 to $35.00 and set a “neutral” rating on the stock in a report on Friday, October 2nd. Finally, Deutsche Bank Aktiengesellschaft cut their price target on Chipotle Mexican Grill from $51.00 to $45.00 and set a “buy” rating on the stock in a research note on Wednesday, October 21st. Twenty-seven analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $42.47.

Chipotle Mexican Grill Stock Up 9.1%

CMG traded up $2.60 on Thursday, reaching $31.33. The company had a trading volume of 42,432,740 shares, compared to its average volume of 18,084,094. Chipotle Mexican Grill, Inc. has a 1 year low of $27.31 and a 1 year high of $41.42. The stock has a market capitalization of $39.65 billion, a PE ratio of 28.74, a P/E/G ratio of 1.67 and a beta of 0.96. The stock has a 50-day moving average price of $33.20 and a 200-day moving average price of $34.21.

Chipotle Mexican Grill (NYSE:CMG) last issued its earnings results on Wednesday, October 28th. The restaurant operator reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.02). The company had revenue of $3.29 billion for the quarter, compared to analyst estimates of $3.29 billion. Chipotle Mexican Grill had a return on equity of 54.65% and a net margin of 11.43%. The company’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.29 earnings per share. As a group, analysts expect that Chipotle Mexican Grill, Inc. will post 1.14 earnings per share for the current fiscal year.

Insider Activity at Chipotle Mexican Grill

In other Chipotle Mexican Grill news, insider Matthew R. Bush sold 2,675 shares of the business’s stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $35.75, for a total transaction of $95,631.25. Following the sale, the insider directly owned 21,415 shares in the company, valued at approximately $765,586.25. The trade was a 11.10% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.45% of the company’s stock.

About Chipotle Mexican Grill

Chipotle Mexican Grill, Inc (NYSE: CMG) operates a chain of fast-casual restaurants focused on Mexican-inspired food. Its menu includes burritos, burrito bowls, tacos, quesadillas and salads, with options such as chicken, steak, barbacoa, carnitas, sofritas and vegetables. The company emphasizes preparing food in its restaurants from ingredients it describes as responsibly sourced, including meats raised with attention to animal welfare and produce from selected suppliers.

Founded by Steve Ells in 1993, Chipotle opened its first restaurant in Denver, Colorado.