Nissay Asset Management Corp Japan Sells 699,132 Shares of Chipotle Mexican Grill, Inc. $CMG

Nissay Asset Management Corp Japan cut its holdings in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG) by 57.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 508,290 shares of the restaurant operator’s stock after selling 699,132 shares during the period. Nissay Asset Management Corp Japan’s holdings in Chipotle Mexican Grill were worth $17,282,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Wealth Watch Advisors INC acquired a new position in shares of Chipotle Mexican Grill during the third quarter worth $25,000. MV Capital Management Inc. bought a new stake in shares of Chipotle Mexican Grill in the fourth quarter worth $26,000. Osbon Capital Management LLC acquired a new stake in Chipotle Mexican Grill in the second quarter valued at $26,000. Meeder Asset Management Inc. acquired a new stake in Chipotle Mexican Grill in the second quarter valued at $27,000. Finally, Merkkuri Wealth Advisors LLC bought a new position in Chipotle Mexican Grill during the 1st quarter worth $28,000. 91.30% of the stock is owned by institutional investors.

Insider Activity

In related news, insider Matthew R. Bush sold 2,675 shares of the stock in a transaction on Friday, August 21st. The stock was sold at an average price of $35.75, for a total value of $95,631.25. Following the transaction, the insider directly owned 21,415 shares in the company, valued at $765,586.25. This trade represents a 11.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.45% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

CMG has been the topic of a number of analyst reports. BTIG Research reiterated a “buy” rating and issued a $45.00 price target on shares of Chipotle Mexican Grill in a research report on Wednesday, August 5th. Argus upped their price objective on shares of Chipotle Mexican Grill from $40.00 to $45.00 and gave the company a “buy” rating in a research note on Tuesday, August 4th. Citigroup lowered their target price on shares of Chipotle Mexican Grill from $46.00 to $45.00 and set a “buy” rating for the company in a research note on Monday, July 13th. TD Cowen restated a “buy” rating and issued a $44.00 target price on shares of Chipotle Mexican Grill in a report on Thursday, July 30th. Finally, DA Davidson upped their price target on shares of Chipotle Mexican Grill from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. Twenty-three analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $43.84.

Chipotle Mexican Grill Trading Up 2.3%

CMG opened at $38.08 on Friday. Chipotle Mexican Grill, Inc. has a 1-year low of $28.03 and a 1-year high of $42.81. The company has a market cap of $48.19 billion, a P/E ratio of 34.94, a price-to-earnings-growth ratio of 2.42 and a beta of 0.94. The company has a fifty day moving average price of $34.33 and a two-hundred day moving average price of $33.94.

Chipotle Mexican Grill (NYSE:CMG) last issued its earnings results on Wednesday, July 29th. The restaurant operator reported $0.33 EPS for the quarter, beating the consensus estimate of $0.32 by $0.01. Chipotle Mexican Grill had a return on equity of 54.65% and a net margin of 11.43%.The company had revenue of $3.35 billion during the quarter, compared to the consensus estimate of $3.33 billion. During the same period last year, the business posted $0.33 EPS. The firm’s revenue for the quarter was up 9.3% compared to the same quarter last year. On average, research analysts forecast that Chipotle Mexican Grill, Inc. will post 1.14 EPS for the current fiscal year.

Chipotle Mexican Grill Company Profile

Chipotle Mexican Grill is a fast-casual restaurant company known for its Mexican-inspired menu of burritos, bowls, tacos and salads. Founded in 1993 by Steve Ells, the chain emphasizes fresh, customizable meals made from a limited menu of core ingredients and a focus on ingredient quality. Chipotle operates primarily company-owned restaurants and offers dine-in, takeout, catering and delivery through its own digital platforms and third-party partners.

The company is headquartered in Newport Beach, California, and traces its roots to Denver, Colorado.