Chipotle Mexican Grill, Inc. $CMG Holdings Cut by Sullivan Wood Capital Management LLC

Sullivan Wood Capital Management LLC cut its stake in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG) by 27.5% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 52,442 shares of the restaurant operator’s stock after selling 19,850 shares during the period. Chipotle Mexican Grill makes up 2.5% of Sullivan Wood Capital Management LLC’s investment portfolio, making the stock its 7th biggest holding. Sullivan Wood Capital Management LLC’s holdings in Chipotle Mexican Grill were worth $1,676,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new position in shares of Chipotle Mexican Grill in the second quarter valued at approximately $4,417,475,000. Bank of America Corp DE acquired a new stake in shares of Chipotle Mexican Grill during the second quarter worth $383,483,000. Legal & General Group Plc acquired a new stake in shares of Chipotle Mexican Grill during the second quarter worth $265,887,000. Man Group plc acquired a new stake in shares of Chipotle Mexican Grill during the second quarter worth $240,389,000. Finally, Bank of New York Mellon Corp purchased a new position in Chipotle Mexican Grill in the 2nd quarter valued at $222,809,000. 91.30% of the stock is owned by institutional investors and hedge funds.

Chipotle Mexican Grill Stock Up 0.0%

Shares of Chipotle Mexican Grill stock traded up $0.01 during trading on Tuesday, reaching $30.41. The company’s stock had a trading volume of 7,188,499 shares, compared to its average volume of 17,697,715. The business has a 50 day moving average price of $34.24 and a 200-day moving average price of $33.52. The company has a market capitalization of $38.49 billion, a P/E ratio of 27.90, a price-to-earnings-growth ratio of 1.93 and a beta of 0.96. Chipotle Mexican Grill, Inc. has a 12-month low of $28.03 and a 12-month high of $42.81.

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

Analyst Ratings Changes

A number of equities analysts have commented on CMG shares. Sanford C. Bernstein restated an “outperform” rating on shares of Chipotle Mexican Grill in a research report on Friday, July 31st. Argus lifted their target price on shares of Chipotle Mexican Grill from $40.00 to $45.00 and gave the company a “buy” rating in a report on Tuesday, August 4th. TD Cowen reiterated a “buy” rating and set a $44.00 price target on shares of Chipotle Mexican Grill in a research note on Thursday, July 30th. Robert W. Baird reiterated a “neutral” rating and set a $40.00 price target (down from $44.00) on shares of Chipotle Mexican Grill in a research note on Monday, August 24th. Finally, Piper Sandler cut their price target on shares of Chipotle Mexican Grill from $42.00 to $39.00 and set an “overweight” rating for the company in a report on Thursday, July 30th. Twenty-three investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $43.91.

Insiders Place Their Bets

In other Chipotle Mexican Grill news, insider Matthew R. Bush sold 2,675 shares of the stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $35.75, for a total value of $95,631.25. Following the completion of the transaction, the insider directly owned 21,415 shares of the company’s stock, valued at approximately $765,586.25. This trade represents a 11.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.45% of the company’s stock.

Trending Headlines about Chipotle Mexican Grill

Here are the key news stories impacting Chipotle Mexican Grill this week:

• Positive Sentiment: Analysts continue to identify Chipotle as a sales-growth stock, citing strong revenue potential, cash flow and relatively favorable valuation metrics as third-quarter earnings season begins. 3 Sales Growth Stocks to Buy as Q3 Earnings Get Underway
• Positive Sentiment: Morningstar’s view that roughly $4 billion in planned capital investment could support long-term growth provides a constructive counterpoint to concerns about margin pressure and near-term spending. CMG Stock Ticks Higher Overnight
• Neutral Sentiment: Chipotle launched a limited-edition, oversized “Big Ass Chipotle Bag” to promote its digital Family Meals offering for four to six people. The campaign may generate attention and engagement, but its direct financial impact is likely limited. Chipotle Goes Big for Family Meals
• Negative Sentiment: Starbucks said it is not buying Chipotle, ending speculation that had lifted CMG shares on hopes of a takeover. The announcement triggered a sharp pullback as merger expectations disappeared. Starbucks Says It Is Not Buying Chipotle

Chipotle Mexican Grill Profile

Chipotle Mexican Grill, Inc is a fast-casual restaurant company that specializes in Mexican-inspired food made with a limited number of core ingredients. Its menu includes burritos, burrito bowls, tacos, quesadillas, salads and sides, with options such as chicken, steak, barbacoa, carnitas, sofritas and vegetables. The company also offers beverages, including soft drinks and other drinks, and allows customers to customize meals.

Founded by Steve Ells in 1993, Chipotle operates company-owned restaurants under the Chipotle Mexican Grill brand.