Fred Alger Management LLC Sells 48,387 Shares of Chipotle Mexican Grill, Inc. (NYSE:CMG)

Fred Alger Management LLC decreased its holdings in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG) by 20.0% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 193,197 shares of the restaurant operator’s stock after selling 48,387 shares during the quarter. Fred Alger Management LLC’s holdings in Chipotle Mexican Grill were worth $11,132,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of CMG. Cetera Investment Advisers increased its stake in Chipotle Mexican Grill by 155.1% in the 1st quarter. Cetera Investment Advisers now owns 4,585 shares of the restaurant operator’s stock worth $13,328,000 after buying an additional 2,788 shares during the period. Cetera Advisors LLC grew its stake in Chipotle Mexican Grill by 166.4% in the 1st quarter. Cetera Advisors LLC now owns 1,055 shares of the restaurant operator’s stock worth $3,067,000 after acquiring an additional 659 shares in the last quarter. DekaBank Deutsche Girozentrale increased its position in shares of Chipotle Mexican Grill by 6.1% during the first quarter. DekaBank Deutsche Girozentrale now owns 8,082 shares of the restaurant operator’s stock worth $23,864,000 after acquiring an additional 464 shares during the period. Bank of New Hampshire increased its position in shares of Chipotle Mexican Grill by 5,488.2% during the second quarter. Bank of New Hampshire now owns 1,900 shares of the restaurant operator’s stock worth $119,000 after acquiring an additional 1,866 shares during the period. Finally, Transcend Capital Advisors LLC raised its stake in shares of Chipotle Mexican Grill by 18,792.7% during the second quarter. Transcend Capital Advisors LLC now owns 15,492 shares of the restaurant operator’s stock valued at $971,000 after acquiring an additional 15,410 shares in the last quarter. 91.31% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Chipotle Mexican Grill

In other 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 transaction of $866,565.00. Following the completion of the sale, the insider now owns 473,514 shares of the company’s stock, valued at $26,052,740.28. This represents a 3.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robin S. Hickenlooper sold 1,790 shares of the firm’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $56.38, for a total transaction of $100,920.20. Following the completion of the transaction, the director now directly owns 41,510 shares in the company, valued at approximately $2,340,333.80. This represents a 4.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 33,290 shares of company stock valued at $1,866,023 over the last ninety days. Insiders own 1.02% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Stephens reissued an “equal weight” rating and issued a $65.00 price objective on shares of Chipotle Mexican Grill in a research note on Tuesday, November 12th. 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. Wedbush restated an “outperform” rating and set a $69.00 target price on shares of Chipotle Mexican Grill in a research note on Wednesday, October 30th. Royal Bank of Canada initiated coverage on shares of Chipotle Mexican Grill in a research report on Friday, November 15th. They issued an “outperform” rating and a $70.00 price objective for the company. Finally, Citigroup cut their price target on shares of Chipotle Mexican Grill from $71.00 to $70.00 and set a “buy” rating on the stock in a research note on Wednesday, October 30th. Ten research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat.com, Chipotle Mexican Grill currently has an average rating of “Moderate Buy” and an average price target of $65.27.

Chipotle Mexican Grill Stock Down 0.9 %

Shares of NYSE CMG opened at $61.52 on Friday. The firm has a market cap of $83.83 billion, a price-to-earnings ratio of 57.26, a price-to-earnings-growth ratio of 2.50 and a beta of 1.26. The company’s 50-day simple moving average is $58.89 and its 200-day simple moving average is $80.86. Chipotle Mexican Grill, Inc. has a 52-week low of $43.66 and a 52-week high of $69.26.

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

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.