Hartford Investment Management Co. Trims Holdings in Chipotle Mexican Grill, Inc. (NYSE:CMG)

Hartford Investment Management Co. decreased its stake in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG) by 2.2% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 86,177 shares of the restaurant operator’s stock after selling 1,923 shares during the quarter. Hartford Investment Management Co.’s holdings in Chipotle Mexican Grill were worth $4,966,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. American Century Companies Inc. lifted its position in Chipotle Mexican Grill by 4,732.3% during the second quarter. American Century Companies Inc. now owns 20,177,309 shares of the restaurant operator’s stock worth $1,264,109,000 after buying an additional 19,759,754 shares in the last quarter. Legal & General Group Plc raised its position in Chipotle Mexican Grill by 5,209.5% in the second quarter. Legal & General Group Plc now owns 10,935,669 shares of the restaurant operator’s stock valued at $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 second quarter. Massachusetts Financial Services Co. MA now owns 10,310,132 shares of the restaurant operator’s stock valued at $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 second quarter. Bank of New York Mellon Corp now owns 8,356,173 shares of the restaurant operator’s stock valued at $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 second quarter. Marshall Wace LLP now owns 5,904,952 shares of the restaurant operator’s stock valued at $369,945,000 after purchasing an additional 5,897,255 shares during the period. Hedge funds and other institutional investors own 91.31% of the company’s stock.

Analysts Set New Price Targets

CMG has been the topic of a number of research analyst reports. Barclays reduced their target price on Chipotle Mexican Grill from $58.00 to $55.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 25th. Loop Capital reduced their target price on Chipotle Mexican Grill from $58.00 to $53.00 and set a “hold” rating on the stock in a research report on Thursday, July 25th. Raymond James reduced their target price on 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. Oppenheimer reaffirmed an “outperform” rating and issued a $65.00 price objective on shares of Chipotle Mexican Grill in a research note on Monday, September 30th. Finally, Truist Financial lifted their price objective on Chipotle Mexican Grill from $69.00 to $71.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. Ten research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat, Chipotle Mexican Grill presently has a consensus rating of “Moderate Buy” and a consensus target price of $63.03.

Chipotle Mexican Grill Price Performance

Shares of NYSE CMG opened at $59.01 on Thursday. The company has a market capitalization of $81.04 billion, a price-to-earnings ratio of 62.78, a price-to-earnings-growth ratio of 2.41 and a beta of 1.25. The business has a 50-day moving average of $56.52 and a two-hundred day moving average of $81.32. Chipotle Mexican Grill, Inc. has a 1 year low of $35.97 and a 1 year high of $69.26.

Chipotle Mexican Grill (NYSE:CMG) last announced its quarterly earnings results on Wednesday, July 24th. The restaurant operator reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.02. The company had revenue of $2.97 billion during the quarter, compared to the consensus estimate of $2.94 billion. Chipotle Mexican Grill had a return on equity of 44.01% and a net margin of 13.23%. Chipotle Mexican Grill’s revenue for the quarter was up 18.2% on a year-over-year basis. During the same period in the previous year, the business earned $12.65 EPS. As a group, 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 dated Tuesday, August 6th. The stock was sold at an average price of $54.68, for a total value of $951,103.92. Following the completion of the sale, the insider now directly owns 358,300 shares of the company’s stock, valued at approximately $19,591,844. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Curtis E. Garner sold 15,750 shares of the company’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $57.05, for a total value of $898,537.50. Following the completion of the sale, the insider now directly owns 457,764 shares of the company’s stock, valued at $26,115,436.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Curtis E. Garner sold 17,394 shares of the company’s stock in a transaction dated 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 sale, the insider now directly owns 358,300 shares of the company’s stock, valued at approximately $19,591,844. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 50,684 shares of company stock valued at $2,817,127 in the last ninety days. Insiders own 1.02% of the company’s stock.

About Chipotle Mexican Grill

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.