PNC Financial Services Group Inc. Sells 63,926 Shares of Chipotle Mexican Grill, Inc. (NYSE:CMG)

PNC Financial Services Group Inc. lowered its position in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG) by 14.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 385,538 shares of the restaurant operator’s stock after selling 63,926 shares during the period. PNC Financial Services Group Inc.’s holdings in Chipotle Mexican Grill were worth $22,215,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Chipotle Mexican Grill during the second quarter worth $25,000. Riverview Trust Co boosted its holdings in Chipotle Mexican Grill by 4,900.0% in the 2nd quarter. Riverview Trust Co now owns 400 shares of the restaurant operator’s stock valued at $25,000 after purchasing an additional 392 shares during the period. RiverPark Advisors LLC grew its position in shares of Chipotle Mexican Grill by 4,900.0% during the 2nd quarter. RiverPark Advisors LLC now owns 400 shares of the restaurant operator’s stock worth $25,000 after purchasing an additional 392 shares in the last quarter. Archer Investment Corp acquired a new stake in shares of Chipotle Mexican Grill in the second quarter valued at approximately $25,000. Finally, Oliver Lagore Vanvalin Investment Group boosted its stake in shares of Chipotle Mexican Grill by 4,900.0% in the second quarter. Oliver Lagore Vanvalin Investment Group now owns 400 shares of the restaurant operator’s stock valued at $25,000 after buying an additional 392 shares during the period. 91.31% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling 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 on Wednesday, September 11th. The shares were sold at an average price of $55.02, for a total value of $866,565.00. Following the completion of the sale, the insider now directly owns 473,514 shares in the company, valued at approximately $26,052,740.28. This trade represents a 3.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through 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 4.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 33,290 shares of company stock valued at $1,866,023. 1.02% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several brokerages have weighed in on CMG. Raymond James dropped their price objective on Chipotle Mexican Grill from $70.00 to $62.50 and set an “outperform” rating for the company in a report on Thursday, July 25th. KeyCorp cut their price objective on shares of Chipotle Mexican Grill from $68.00 to $66.00 and set an “overweight” rating for the company in a research report on Thursday, July 25th. Stephens reissued an “equal weight” rating and issued a $65.00 target price on shares of Chipotle Mexican Grill in a report on Tuesday, November 12th. Wells Fargo & Company lifted their price objective on shares of Chipotle Mexican Grill from $66.00 to $67.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Finally, Truist Financial upped their target price on Chipotle Mexican Grill from $71.00 to $72.00 and gave the stock a “buy” rating in a research note 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 data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $65.27.

Chipotle Mexican Grill Price Performance

Shares of CMG opened at $60.01 on Friday. The business has a 50-day moving average of $58.33 and a 200-day moving average of $80.95. The company has a market capitalization of $81.77 billion, a price-to-earnings ratio of 55.85, a price-to-earnings-growth ratio of 2.36 and a beta of 1.26. Chipotle Mexican Grill, Inc. has a 1 year low of $43.66 and a 1 year high of $69.26.

Chipotle Mexican Grill (NYSE:CMG) last issued its quarterly earnings results on Tuesday, October 29th. The restaurant operator reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $2.82 billion. During the same quarter in the previous year, the company earned $0.23 EPS. The company’s revenue for the quarter was up 13.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Chipotle Mexican Grill, Inc. will post 1.11 EPS for the current year.

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.