Contravisory Investment Management Inc. Has $10.38 Million Stake in Chipotle Mexican Grill, Inc. (NYSE:CMG)

Contravisory Investment Management Inc. lessened its stake in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG) by 0.8% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 180,206 shares of the restaurant operator’s stock after selling 1,486 shares during the period. Chipotle Mexican Grill accounts for approximately 2.2% of Contravisory Investment Management Inc.’s holdings, making the stock its 8th biggest position. Contravisory Investment Management Inc.’s holdings in Chipotle Mexican Grill were worth $10,383,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in CMG. American Century Companies Inc. raised its position in Chipotle Mexican Grill by 4,732.3% in the 2nd quarter. American Century Companies Inc. now owns 20,177,309 shares of the restaurant operator’s stock worth $1,264,109,000 after purchasing an additional 19,759,754 shares during the period. Legal & General Group Plc raised its position in Chipotle Mexican Grill by 5,209.5% in the 2nd 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 raised its position in Chipotle Mexican Grill by 5,930.8% in the 2nd 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 raised its position in Chipotle Mexican Grill by 4,816.1% in the 2nd 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, Marshall Wace LLP raised its position in Chipotle Mexican Grill by 76,617.6% in the 2nd quarter. Marshall Wace LLP now owns 5,904,952 shares of the restaurant operator’s stock worth $369,945,000 after purchasing an additional 5,897,255 shares during the period. Institutional investors own 91.31% of the company’s stock.

Chipotle Mexican Grill Trading Up 0.7 %

CMG stock opened at $58.33 on Friday. The company has a market cap of $79.88 billion, a P/E ratio of 57.14, a P/E/G ratio of 2.41 and a beta of 1.25. Chipotle Mexican Grill, Inc. has a 52 week low of $35.37 and a 52 week high of $69.26. The company’s 50-day moving average price is $55.38 and its 200 day moving average price is $81.24.

Chipotle Mexican Grill (NYSE:CMG) last released its quarterly earnings data on Wednesday, July 24th. The restaurant operator reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.02. The firm had revenue of $2.97 billion for the quarter, compared to the consensus estimate of $2.94 billion. Chipotle Mexican Grill had a net margin of 13.23% and a return on equity of 44.01%. The firm’s revenue was up 18.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $12.65 earnings per share. On average, equities research analysts expect that Chipotle Mexican Grill, Inc. will post 1.08 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Curtis E. Garner sold 17,394 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $54.68, for a total value of $951,103.92. Following the completion of the transaction, the insider now owns 358,300 shares of the company’s stock, valued at $19,591,844. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, insider Curtis E. Garner sold 17,394 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $54.68, for a total value of $951,103.92. Following the completion of the transaction, the insider now owns 358,300 shares of the company’s stock, valued at $19,591,844. The trade was a 0.00 % 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, insider Curtis E. Garner sold 15,750 shares of the business’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 completion of the transaction, the insider now directly owns 457,764 shares of the company’s stock, valued at approximately $26,115,436.20. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 50,684 shares of company stock worth $2,817,127. Insiders own 1.02% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Evercore ISI reduced their target price on shares of Chipotle Mexican Grill from $65.00 to $59.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 14th. Truist Financial reaffirmed a “buy” rating and set a $69.00 target price on shares of Chipotle Mexican Grill in a research report on Tuesday, August 13th. Raymond James reduced their target price on shares of Chipotle Mexican Grill from $70.00 to $62.50 and set an “outperform” rating on the stock in a research report on Thursday, July 25th. BMO Capital Markets reduced their target price on shares of Chipotle Mexican Grill from $57.00 to $55.00 and set a “market perform” rating on the stock in a research report on Thursday, July 25th. Finally, Piper Sandler reduced their target price on shares of Chipotle Mexican Grill from $61.00 to $56.00 and set a “neutral” rating on the stock in a research report on Thursday, July 25th. Ten investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Chipotle Mexican Grill has an average rating of “Moderate Buy” and an average price target of $62.44.

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.