Bridgewater Associates LP Sells 833,722 Shares of Chipotle Mexican Grill, Inc. (NYSE:CMG)

Bridgewater Associates LP trimmed its holdings in Chipotle Mexican Grill, Inc. (NYSE:CMG) by 39.9% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 1,256,728 shares of the restaurant operator’s stock after selling 833,722 shares during the quarter. Bridgewater Associates LP’s holdings in Chipotle Mexican Grill were worth $72,413,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Freedom Investment Management Inc. raised its holdings in Chipotle Mexican Grill by 10.0% during the 3rd quarter. Freedom Investment Management Inc. now owns 4,727 shares of the restaurant operator’s stock valued at $272,000 after buying an additional 431 shares during the last quarter. Cynosure Group LLC bought a new position in Chipotle Mexican Grill in the 3rd quarter worth $380,000. Townsquare Capital LLC raised its holdings in Chipotle Mexican Grill by 5.4% in the 3rd quarter. Townsquare Capital LLC now owns 26,253 shares of the restaurant operator’s stock worth $1,513,000 after purchasing an additional 1,338 shares in the last quarter. Transamerica Financial Advisors Inc. bought a new position in Chipotle Mexican Grill in the 3rd quarter worth $4,177,000. Finally, Brooklyn Investment Group raised its holdings in Chipotle Mexican Grill by 4,873.4% in the 3rd quarter. Brooklyn Investment Group now owns 7,659 shares of the restaurant operator’s stock worth $441,000 after purchasing an additional 7,505 shares in the last quarter. 91.31% of the stock is currently owned by institutional investors.

Insider Transactions at Chipotle Mexican Grill

In other Chipotle Mexican Grill news, insider Curtis E. Garner sold 15,750 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $57.05, for a total transaction of $898,537.50. Following the sale, the insider now owns 457,764 shares in the company, valued at approximately $26,115,436.20. This trade represents a 3.33 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robin S. Hickenlooper sold 1,790 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $56.38, for a total transaction of $100,920.20. Following the sale, the director now owns 41,510 shares in the company, valued at approximately $2,340,333.80. The trade was a 4.13 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 33,290 shares of company stock worth $1,866,023 in the last quarter. Company insiders own 1.02% of the company’s stock.

Analysts Set New Price Targets

CMG has been the subject of several research reports. Wells Fargo & Company upped their price objective on shares of Chipotle Mexican Grill from $66.00 to $67.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Piper Sandler upped their price objective on shares of Chipotle Mexican Grill from $59.00 to $60.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. BMO Capital Markets upped their target price on shares of Chipotle Mexican Grill from $55.00 to $56.00 and gave the stock a “market perform” rating in a research report on Wednesday, October 30th. TD Cowen upped their target price on shares of Chipotle Mexican Grill from $65.00 to $68.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Finally, Truist Financial upped their target price on shares of Chipotle Mexican Grill from $71.00 to $72.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Ten investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $65.27.

Chipotle Mexican Grill Stock Up 1.1 %

Shares of NYSE CMG opened at $62.70 on Wednesday. The firm’s 50-day moving average price is $58.62 and its 200-day moving average price is $81.14. The company has a market cap of $85.43 billion, a PE ratio of 58.36, a PEG ratio of 2.49 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 data on Tuesday, October 29th. The restaurant operator reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.02. Chipotle Mexican Grill had a net margin of 13.51% and a return on equity of 43.20%. The firm had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.82 billion. During the same quarter in the prior year, the business earned $0.23 EPS. The business’s quarterly revenue was up 13.0% on a year-over-year basis. As a group, equities research analysts anticipate that Chipotle Mexican Grill, Inc. will post 1.11 EPS for the current fiscal year.

Chipotle Mexican Grill 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.