Chipotle Mexican Grill, Inc. $CMG Stock: Montrusco Bolton Investments Inc. Cuts Position

Montrusco Bolton Investments Inc. trimmed its holdings in Chipotle Mexican Grill, Inc. (NYSE:CMG) by 20.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,462,514 shares of the restaurant operator’s stock after selling 632,840 shares during the period. Chipotle Mexican Grill accounts for about 1.3% of Montrusco Bolton Investments Inc.’s investment portfolio, making the stock its 24th largest position. Montrusco Bolton Investments Inc. owned about 0.19% of Chipotle Mexican Grill worth $78,677,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. MV Capital Management Inc. purchased a new position in Chipotle Mexican Grill in the fourth quarter valued at approximately $26,000. Osbon Capital Management LLC bought a new stake in Chipotle Mexican Grill in the second quarter valued at $26,000. Meeder Asset Management Inc. bought a new stake in shares of Chipotle Mexican Grill during the second quarter valued at about $27,000. Merkkuri Wealth Advisors LLC purchased a new position in Chipotle Mexican Grill in the 1st quarter worth about $28,000. Finally, Kelleher Financial Advisors purchased a new position in Chipotle Mexican Grill in the 2nd quarter worth about $28,000. 91.30% of the stock is currently owned by hedge funds and other institutional investors.

Chipotle Mexican Grill Trading Up 9.1%

Shares of CMG traded up $2.60 on Thursday, reaching $31.33. 42,432,740 shares of the company’s stock traded hands, compared to its average volume of 18,084,094. Chipotle Mexican Grill, Inc. has a 52-week low of $27.31 and a 52-week high of $41.42. The stock’s 50 day simple moving average is $33.20 and its two-hundred day simple moving average is $34.21. The stock has a market cap of $39.65 billion, a PE ratio of 28.74, a PEG ratio of 1.67 and a beta of 0.96.

Chipotle Mexican Grill (NYSE:CMG) last issued its quarterly earnings results on Wednesday, October 28th. The restaurant operator reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.02). The firm had revenue of $3.29 billion for the quarter, compared to the consensus estimate of $3.29 billion. Chipotle Mexican Grill had a return on equity of 54.65% and a net margin of 11.43%. The company’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same period last year, the firm earned $0.29 EPS. Analysts forecast that Chipotle Mexican Grill, Inc. will post 1.14 earnings per share for the current year.

Chipotle Mexican Grill News Roundup

Here are the key news stories impacting Chipotle Mexican Grill this week:

• Positive Sentiment: Third-quarter revenue rose 9.6% to $3.29 billion, in line with expectations, while comparable-restaurant sales increased 2.1% and transactions grew for the third consecutive quarter. Value offers and limited-time menu items helped attract diners. Chipotle beats quarterly sales expectations on resilient demand
• Positive Sentiment: Investors responded favorably to signs of a traffic recovery following earlier food-safety concerns. New menu launches, refreshed loyalty benefits and plans to accelerate technology and menu innovation are supporting the turnaround. Chipotle Sales Beat as New Chicken, Chips Bring Diners Back
• Positive Sentiment: Chipotle opened 84 company-owned restaurants during the quarter, and its loyalty program surpassed 24 million members, providing additional long-term growth and customer-engagement potential. Chipotle: 3 Key Takeaways for Long-Term Investors
• Positive Sentiment: Several analysts maintained bullish ratings, including DA Davidson and BTIG Research at $45 targets and Oppenheimer at a $51 target, implying substantial upside based on the supplied reference price. Oppenheimer analyst rating
• Neutral Sentiment: Analyst opinion remains mixed: Citigroup kept a Buy rating while cutting its target to $41, whereas BNP Paribas Exane retained Neutral and reduced its target to $36. Bernstein also lowered its target to $43 from $50. Citigroup price target
• Negative Sentiment: Adjusted earnings were $0.27 per share, below the $0.29 consensus and last year’s $0.29, as higher operating costs, beef prices and increased protein usage pressured margins. Chipotle Q3 earnings miss estimates
• Negative Sentiment: Management’s outlook calls for only modestly higher sales, leaving investors dependent on the fourth-quarter brisket launch, continued traffic gains and successful cost management to sustain the recovery. The rest of Chipotle’s year hinges on brisket

Insider Buying and Selling

In other Chipotle Mexican Grill news, insider Matthew R. Bush sold 2,675 shares of the firm’s stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $35.75, for a total transaction of $95,631.25. Following the sale, the insider directly owned 21,415 shares of the company’s stock, valued at $765,586.25. This trade represents a 11.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.45% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on CMG shares. BTIG Research reissued a “buy” rating and issued a $45.00 price target on shares of Chipotle Mexican Grill in a research note on Thursday. Wells Fargo & Company lowered their price target on Chipotle Mexican Grill from $45.00 to $40.00 and set an “overweight” rating for the company in a research note on Wednesday, October 21st. Robert W. Baird lowered their price target on Chipotle Mexican Grill from $40.00 to $35.00 and set a “neutral” rating for the company in a research note on Friday, October 2nd. Bank of America reiterated a “buy” rating and issued a $53.00 price target (up from $50.00) on shares of Chipotle Mexican Grill in a research report on Tuesday, September 1st. Finally, Oppenheimer reissued an “outperform” rating and issued a $51.00 target price on shares of Chipotle Mexican Grill in a research note on Thursday. Twenty-seven investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat.com, Chipotle Mexican Grill has a consensus rating of “Moderate Buy” and an average target price of $42.47.

About Chipotle Mexican Grill

Chipotle Mexican Grill, Inc (NYSE: CMG) operates a chain of fast-casual restaurants focused on Mexican-inspired food. Its menu includes burritos, burrito bowls, tacos, quesadillas and salads, with options such as chicken, steak, barbacoa, carnitas, sofritas and vegetables. The company emphasizes preparing food in its restaurants from ingredients it describes as responsibly sourced, including meats raised with attention to animal welfare and produce from selected suppliers.

Founded by Steve Ells in 1993, Chipotle opened its first restaurant in Denver, Colorado.