Montrusco Bolton Investments Inc. Takes $4.19 Million Position in Chipotle Mexican Grill, Inc. (NYSE:CMG)

Montrusco Bolton Investments Inc. bought a new stake in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG) during the 3rd quarter, Holdings Channel reports. The fund bought 72,664 shares of the restaurant operator’s stock, valued at approximately $4,187,000.

Several other hedge funds have also recently made changes to their positions in the business. American Century Companies Inc. increased its stake in shares of Chipotle Mexican Grill by 4,732.3% during the second quarter. American Century Companies Inc. now owns 20,177,309 shares of the restaurant operator’s stock valued at $1,264,109,000 after buying an additional 19,759,754 shares during the period. Legal & General Group Plc grew its stake in Chipotle Mexican Grill by 5,209.5% in the second quarter. Legal & General Group Plc now owns 10,935,669 shares of the restaurant operator’s stock worth $685,128,000 after purchasing an additional 10,729,706 shares during the period. Massachusetts Financial Services Co. MA grew its stake in 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 worth $645,930,000 after purchasing an additional 10,139,174 shares during the period. Bank of New York Mellon Corp grew 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 purchasing an additional 8,186,198 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in Chipotle Mexican Grill by 1.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 8,200,369 shares of the restaurant operator’s stock worth $472,505,000 after purchasing an additional 132,756 shares during the period. 91.31% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Robin S. Hickenlooper sold 1,790 shares of the 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 sale, the director now owns 41,510 shares in the company, valued at approximately $2,340,333.80. This trade represents a 4.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Curtis E. Garner sold 15,750 shares of the stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $57.05, for a total value of $898,537.50. Following the sale, the insider now owns 457,764 shares of the company’s stock, valued at $26,115,436.20. This represents a 3.33 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 33,290 shares of company stock worth $1,866,023. 1.02% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on CMG shares. Citigroup reduced their price target on 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. Stifel Nicolaus reaffirmed a “buy” rating and issued a $70.00 price target on shares of Chipotle Mexican Grill in a research note on Wednesday, August 14th. Robert W. Baird upped their price target on Chipotle Mexican Grill from $62.00 to $70.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Barclays boosted their target price on Chipotle Mexican Grill from $55.00 to $60.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Finally, Piper Sandler boosted their target price on Chipotle Mexican Grill from $59.00 to $60.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Ten research 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, the stock has an average rating of “Moderate Buy” and an average price target of $65.27.

Chipotle Mexican Grill Stock Up 3.4 %

Shares of CMG opened at $62.02 on Friday. The business has a 50-day simple moving average of $58.45 and a two-hundred day simple moving average of $80.94. The stock has a market cap of $84.51 billion, a price-to-earnings ratio of 57.73, a PEG ratio of 2.41 and a beta of 1.26. 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 issued its quarterly earnings results on Tuesday, October 29th. The restaurant operator reported $0.27 EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $2.82 billion. During the same quarter in the prior year, the business posted $0.23 earnings per share. The business’s quarterly revenue was up 13.0% on a year-over-year basis. On average, equities analysts anticipate that Chipotle Mexican Grill, Inc. will post 1.11 earnings per share 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.