Congress Asset Management Co. Takes Position in Chipotle Mexican Grill, Inc. (NYSE:CMG)

Congress Asset Management Co. bought a new position in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 1,898,575 shares of the restaurant operator’s stock, valued at approximately $109,396,000. Congress Asset Management Co. owned 0.14% of Chipotle Mexican Grill at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the business. Catalyst Financial Partners LLC grew its holdings in Chipotle Mexican Grill by 12.9% in the third quarter. Catalyst Financial Partners LLC now owns 6,526 shares of the restaurant operator’s stock worth $376,000 after purchasing an additional 745 shares during the period. E Fund Management Hong Kong Co. Ltd. acquired a new stake in Chipotle Mexican Grill in the third quarter valued at approximately $127,000. Financial Advocates Investment Management increased its holdings in shares of Chipotle Mexican Grill by 3.4% during the third quarter. Financial Advocates Investment Management now owns 14,306 shares of the restaurant operator’s stock valued at $824,000 after acquiring an additional 466 shares in the last quarter. Cornerstone Wealth Group LLC raised its position in shares of Chipotle Mexican Grill by 10.6% during the third quarter. Cornerstone Wealth Group LLC now owns 3,551 shares of the restaurant operator’s stock worth $205,000 after purchasing an additional 341 shares during the period. Finally, Oak Harvest Investment Services lifted its holdings in shares of Chipotle Mexican Grill by 66.1% in the 3rd quarter. Oak Harvest Investment Services now owns 39,664 shares of the restaurant operator’s stock worth $2,285,000 after purchasing an additional 15,782 shares in the last quarter. 91.31% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. The Goldman Sachs Group decreased their price target on shares of Chipotle Mexican Grill from $74.60 to $67.00 and set a “buy” rating for the company in a research note on Thursday, July 25th. Citigroup decreased their target price on shares of Chipotle Mexican Grill from $71.00 to $70.00 and set a “buy” rating for the company in a research report on Wednesday. StockNews.com lowered Chipotle Mexican Grill from a “buy” rating to a “hold” rating in a report on Thursday, July 4th. TD Cowen boosted their price target on shares of Chipotle Mexican Grill from $65.00 to $68.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Piper Sandler lifted their target price on shares of Chipotle Mexican Grill from $59.00 to $60.00 and gave the company a “neutral” rating in a report on Wednesday. Ten equities 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, Chipotle Mexican Grill currently has a consensus rating of “Moderate Buy” and a consensus target price of $64.47.

Chipotle Mexican Grill Stock Performance

NYSE CMG traded up $1.56 during trading hours on Thursday, reaching $57.29. The stock had a trading volume of 3,628,340 shares, compared to its average volume of 13,952,707. Chipotle Mexican Grill, Inc. has a 52-week low of $38.01 and a 52-week high of $69.26. The stock has a fifty day moving average of $57.14 and a 200 day moving average of $81.32. The stock has a market cap of $78.46 billion, a P/E ratio of 55.84, a price-to-earnings-growth ratio of 2.41 and a beta of 1.25.

Chipotle Mexican Grill (NYSE:CMG) last issued its earnings results on Tuesday, October 29th. The restaurant operator reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.02. Chipotle Mexican Grill had a net margin of 13.23% and a return on equity of 44.01%. The firm had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $2.82 billion. During the same quarter last year, the company posted $0.23 earnings per share. The firm’s revenue was up 13.0% compared to the same quarter last year. On average, equities research analysts forecast that Chipotle Mexican Grill, Inc. will post 1.08 EPS for the current year.

Insiders Place Their Bets

In other Chipotle Mexican Grill news, Director Robin S. Hickenlooper sold 1,790 shares of the 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 completion of the transaction, the director now owns 41,510 shares of the company’s stock, valued at $2,340,333.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Chipotle Mexican Grill news, insider Curtis E. Garner sold 17,394 shares of the company’s stock in a transaction 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 in the company, valued at $19,591,844. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Robin S. Hickenlooper sold 1,790 shares of the business’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 completion of the sale, the director now directly owns 41,510 shares of the company’s stock, valued at $2,340,333.80. The trade was a 0.00 % decrease in their ownership of the stock. 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. Company insiders own 1.02% of the company’s stock.

Chipotle Mexican Grill Company 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.