Skye Global Management LP Trims Position in Chipotle Mexican Grill, Inc. (NYSE:CMG)

Skye Global Management LP trimmed its stake in Chipotle Mexican Grill, Inc. (NYSE:CMG) by 34.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 164,000 shares of the restaurant operator’s stock after selling 88,000 shares during the period. Chipotle Mexican Grill comprises 0.2% of Skye Global Management LP’s holdings, making the stock its 24th biggest holding. Skye Global Management LP’s holdings in Chipotle Mexican Grill were worth $9,450,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in CMG. American Century Companies Inc. grew its stake in Chipotle Mexican Grill by 4,732.3% in the second quarter. American Century Companies Inc. now owns 20,177,309 shares of the restaurant operator’s stock worth $1,264,109,000 after purchasing an additional 19,759,754 shares in the last quarter. Legal & General Group Plc increased its stake in shares of Chipotle Mexican Grill by 5,209.5% during the second quarter. Legal & General Group Plc now owns 10,935,669 shares of the restaurant operator’s stock valued at $685,128,000 after buying an additional 10,729,706 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in shares of Chipotle Mexican Grill by 5,930.8% in the second quarter. Massachusetts Financial Services Co. MA now owns 10,310,132 shares of the restaurant operator’s stock valued at $645,930,000 after acquiring an additional 10,139,174 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Chipotle Mexican Grill by 4,816.1% in the second quarter. Bank of New York Mellon Corp now owns 8,356,173 shares of the restaurant operator’s stock worth $523,514,000 after acquiring an additional 8,186,198 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Chipotle Mexican Grill by 11.6% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,271,318 shares of the restaurant operator’s stock valued at $476,593,000 after purchasing an additional 858,704 shares during the period. 91.31% of the stock is currently owned by institutional investors.

Chipotle Mexican Grill Stock Performance

Shares of NYSE CMG opened at $62.05 on Friday. The firm has a market cap of $84.55 billion, a PE ratio of 57.75, a PEG ratio of 2.50 and a beta of 1.26. Chipotle Mexican Grill, Inc. has a one year low of $43.66 and a one year high of $69.26. The firm has a fifty day moving average of $58.81 and a 200 day moving average of $80.88.

Chipotle Mexican Grill (NYSE:CMG) last issued its quarterly earnings results on Tuesday, October 29th. The restaurant operator reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.82 billion. During the same period last year, the company posted $0.23 EPS. Chipotle Mexican Grill’s quarterly revenue was up 13.0% compared to the same quarter last year. On average, equities analysts predict that Chipotle Mexican Grill, Inc. will post 1.11 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Wells Fargo & Company increased their price objective on shares of Chipotle Mexican Grill from $66.00 to $67.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Robert W. Baird lifted their target price on Chipotle Mexican Grill from $62.00 to $70.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Loop Capital increased their price target on shares of Chipotle Mexican Grill from $53.00 to $58.00 and gave the company a “hold” rating in a research report on Wednesday, October 30th. Truist Financial lifted 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, Piper Sandler raised their target price on shares of Chipotle Mexican Grill from $59.00 to $60.00 and gave the company a “neutral” rating in a research note 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $65.27.

Insider Buying and Selling 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 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 in the company, valued at $26,115,436.20. The trade was a 3.33 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Robin S. Hickenlooper sold 1,790 shares of the firm’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 sale, the director now owns 41,510 shares of the company’s stock, valued at $2,340,333.80. This represents a 4.13 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 33,290 shares of company stock worth $1,866,023. Corporate insiders own 1.02% of the company’s stock.

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.