Matthew Bush Sells 2,675 Shares of Chipotle Mexican Grill (NYSE:CMG) Stock

Chipotle Mexican Grill, Inc. (NYSE:CMG) insider Matthew Bush sold 2,675 shares of the business’s stock in a transaction on Friday, August 21st. The shares were sold at an average price of $35.75, for a total transaction of $95,631.25. Following the completion of the sale, the insider directly owned 21,415 shares in the company, valued at $765,586.25. This trade represents a 11.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Chipotle Mexican Grill Stock Performance

Shares of NYSE:CMG traded up $1.15 during midday trading on Monday, reaching $38.05. 18,190,602 shares of the company’s stock were exchanged, compared to its average volume of 19,702,306. The company’s 50 day simple moving average is $33.91 and its two-hundred day simple moving average is $33.95. The firm has a market capitalization of $48.15 billion, a PE ratio of 34.91, a price-to-earnings-growth ratio of 2.35 and a beta of 0.94. Chipotle Mexican Grill, Inc. has a 12 month low of $28.03 and a 12 month high of $43.59.

Chipotle Mexican Grill (NYSE:CMG) last issued its earnings results on Wednesday, July 29th. The restaurant operator reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.01. Chipotle Mexican Grill had a net margin of 11.43% and a return on equity of 54.65%. The business had revenue of $3.35 billion for the quarter, compared to analyst estimates of $3.33 billion. During the same period in the previous year, the business earned $0.33 EPS. The firm’s revenue was up 9.3% on a year-over-year basis. On average, research analysts anticipate that Chipotle Mexican Grill, Inc. will post 1.14 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. EP Wealth Advisors LLC acquired a new position in Chipotle Mexican Grill in the 2nd quarter valued at $948,000. Callan Family Office LLC acquired a new stake in shares of Chipotle Mexican Grill during the second quarter worth $1,406,000. Norges Bank bought a new stake in shares of Chipotle Mexican Grill in the fourth quarter valued at about $711,837,000. Focus Partners Advisor Solutions LLC boosted its position in shares of Chipotle Mexican Grill by 156.9% in the fourth quarter. Focus Partners Advisor Solutions LLC now owns 58,269 shares of the restaurant operator’s stock valued at $2,156,000 after acquiring an additional 35,589 shares during the period. Finally, PensionDanmark Pensionsforsikringsaktieselskab grew its stake in shares of Chipotle Mexican Grill by 40.2% in the second quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 268,771 shares of the restaurant operator’s stock valued at $9,138,000 after acquiring an additional 77,002 shares in the last quarter. 91.30% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CMG has been the subject of a number of recent research reports. Morgan Stanley increased their target price on Chipotle Mexican Grill from $37.00 to $39.00 and gave the stock an “equal weight” rating in a report on Thursday, July 30th. TD Cowen reiterated a “buy” rating and issued a $44.00 price target on shares of Chipotle Mexican Grill in a research report on Thursday, July 30th. Sanford C. Bernstein reiterated an “outperform” rating on shares of Chipotle Mexican Grill in a research note on Friday, July 31st. Robert W. Baird reiterated a “neutral” rating and set a $40.00 price objective (down from $44.00) on shares of Chipotle Mexican Grill in a research note on Monday. Finally, BNP Paribas Exane lifted their price objective on Chipotle Mexican Grill from $37.00 to $39.00 and gave the company a “neutral” rating in a report on Thursday, April 30th. Twenty-three analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $43.84.

About Chipotle Mexican Grill

Chipotle Mexican Grill is a fast-casual restaurant company known for its Mexican-inspired menu of burritos, bowls, tacos and salads. Founded in 1993 by Steve Ells, the chain emphasizes fresh, customizable meals made from a limited menu of core ingredients and a focus on ingredient quality. Chipotle operates primarily company-owned restaurants and offers dine-in, takeout, catering and delivery through its own digital platforms and third-party partners.

The company is headquartered in Newport Beach, California, and traces its roots to Denver, Colorado.