Savoie Capital LLC Takes Position in Chipotle Mexican Grill, Inc. (NYSE:CMG)

Savoie Capital LLC bought a new position in Chipotle Mexican Grill, Inc. (NYSE:CMG) in the third quarter, according to the company in its most recent disclosure with the SEC. The fund bought 22,300 shares of the restaurant operator’s stock, valued at approximately $1,285,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. 3Chopt Investment Partners LLC lifted its holdings in Chipotle Mexican Grill by 192.9% in the third quarter. 3Chopt Investment Partners LLC now owns 28,501 shares of the restaurant operator’s stock valued at $1,642,000 after acquiring an additional 18,769 shares during the period. Vestcor Inc boosted its holdings in shares of Chipotle Mexican Grill by 73.0% in the third quarter. Vestcor Inc now owns 46,890 shares of the restaurant operator’s stock worth $2,702,000 after buying an additional 19,790 shares during the last quarter. Conway Capital Management Inc. purchased a new position in shares of Chipotle Mexican Grill during the 3rd quarter worth $873,000. Resources Management Corp CT ADV grew its stake in shares of Chipotle Mexican Grill by 8.0% during the 3rd quarter. Resources Management Corp CT ADV now owns 27,805 shares of the restaurant operator’s stock valued at $1,602,000 after acquiring an additional 2,055 shares during the period. Finally, Continuum Advisory LLC increased its holdings in Chipotle Mexican Grill by 50.9% in the 3rd quarter. Continuum Advisory LLC now owns 1,432 shares of the restaurant operator’s stock worth $86,000 after acquiring an additional 483 shares in the last quarter. 91.31% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Chipotle Mexican Grill

In other news, insider Curtis E. Garner sold 15,750 shares of the firm’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $57.05, for a total transaction of $898,537.50. Following the completion of the transaction, the insider now directly owns 457,764 shares in the company, valued at $26,115,436.20. This trade represents a 3.33 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Robin S. Hickenlooper sold 1,790 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $56.38, for a total value of $100,920.20. Following the transaction, the director now owns 41,510 shares of the company’s stock, valued at $2,340,333.80. This trade 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 90 days. 1.02% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

CMG has been the topic of several research analyst reports. 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 research report on Wednesday, October 30th. Loop Capital lifted their price objective 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. Wells Fargo & Company raised their target price 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. BMO Capital Markets increased their price objective on shares of Chipotle Mexican Grill from $55.00 to $56.00 and gave the company a “market perform” rating in a report on Wednesday, October 30th. Finally, TD Cowen raised their price target on Chipotle Mexican Grill from $65.00 to $68.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Ten research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $65.42.

Chipotle Mexican Grill Stock Performance

CMG stock opened at $64.58 on Tuesday. Chipotle Mexican Grill, Inc. has a one year low of $44.08 and a one year high of $69.26. The firm has a market cap of $88.00 billion, a PE ratio of 60.36, a PEG ratio of 2.63 and a beta of 1.27. The firm’s 50 day moving average price is $59.55 and its 200-day moving average price is $81.11.

Chipotle Mexican Grill (NYSE:CMG) last announced its quarterly earnings results on Tuesday, October 29th. The restaurant operator reported $0.27 EPS for the quarter, beating the consensus estimate of $0.25 by $0.02. The business had revenue of $2.79 billion for 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 company’s quarterly revenue was up 13.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.23 EPS. Equities research analysts predict that Chipotle Mexican Grill, Inc. will post 1.11 EPS for the current fiscal year.

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.