Kovitz Investment Group Partners LLC Sells 4,705 Shares of Chipotle Mexican Grill, Inc. (NYSE:CMG)

Kovitz Investment Group Partners LLC lessened its holdings in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG) by 1.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 240,912 shares of the restaurant operator’s stock after selling 4,705 shares during the quarter. Kovitz Investment Group Partners LLC’s holdings in Chipotle Mexican Grill were worth $12,096,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. Cloud Capital Management LLC purchased a new position in shares of Chipotle Mexican Grill during the 1st quarter valued at about $25,000. HighMark Wealth Management LLC raised its holdings in shares of Chipotle Mexican Grill by 173.4% during the 1st quarter. HighMark Wealth Management LLC now owns 585 shares of the restaurant operator’s stock valued at $29,000 after buying an additional 371 shares in the last quarter. North Capital Inc. purchased a new position in shares of Chipotle Mexican Grill during the 1st quarter valued at about $30,000. ORG Wealth Partners LLC purchased a new position in shares of Chipotle Mexican Grill during the 1st quarter valued at about $31,000. Finally, Mascagni Wealth Management Inc. purchased a new position in shares of Chipotle Mexican Grill during the 4th quarter valued at about $45,000. Institutional investors own 91.31% of the company’s stock.

Chipotle Mexican Grill Stock Up 2.0%

NYSE CMG opened at $44.04 on Friday. Chipotle Mexican Grill, Inc. has a twelve month low of $41.18 and a twelve month high of $66.74. The firm has a market capitalization of $59.05 billion, a PE ratio of 39.32, a P/E/G ratio of 2.19 and a beta of 1.05. The stock’s 50 day moving average is $50.37 and its 200 day moving average is $51.15.

Chipotle Mexican Grill (NYSE:CMG) last released its quarterly earnings results on Wednesday, July 23rd. The restaurant operator reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.01. Chipotle Mexican Grill had a return on equity of 43.50% and a net margin of 13.32%. The company had revenue of $3.06 billion for the quarter, compared to analyst estimates of $3.11 billion. During the same period in the previous year, the company posted $0.34 earnings per share. The firm’s revenue was up 3.0% on a year-over-year basis. On average, research analysts anticipate that Chipotle Mexican Grill, Inc. will post 1.29 earnings per share for the current year.

Insider Buying and Selling at Chipotle Mexican Grill

In other Chipotle Mexican Grill news, insider Roger E. Theodoredis sold 113,875 shares of the business’s stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $49.70, for a total value of $5,659,587.50. Following the sale, the insider directly owned 109,815 shares of the company’s stock, valued at approximately $5,457,805.50. The trade was a 50.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.81% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

CMG has been the topic of a number of research reports. BMO Capital Markets raised Chipotle Mexican Grill from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $56.00 to $65.00 in a report on Friday, July 18th. UBS Group raised their price objective on Chipotle Mexican Grill from $60.00 to $65.00 and gave the company a “buy” rating in a report on Thursday, July 17th. Stephens reaffirmed an “equal weight” rating and issued a $60.00 price target on shares of Chipotle Mexican Grill in a research note on Thursday, July 24th. Evercore ISI decreased their price target on Chipotle Mexican Grill from $64.00 to $57.00 and set an “outperform” rating on the stock in a research note on Thursday, April 24th. Finally, Melius started coverage on Chipotle Mexican Grill in a research note on Monday, July 14th. They issued a “hold” rating and a $60.00 price target on the stock. Eight investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $60.22.

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.