Algert Global LLC Invests $1.56 Million in Chipotle Mexican Grill, Inc. (NYSE:CMG)

Algert Global LLC purchased a new position in Chipotle Mexican Grill, Inc. (NYSE:CMG) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 26,981 shares of the restaurant operator’s stock, valued at approximately $1,555,000.

Several other hedge funds have also recently modified their holdings of the business. Westwood Holdings Group Inc. raised its stake in shares of Chipotle Mexican Grill by 1.1% in the first quarter. Westwood Holdings Group Inc. now owns 13,490 shares of the restaurant operator’s stock worth $39,212,000 after purchasing an additional 149 shares during the last quarter. Lecap Asset Management Ltd. increased its position in Chipotle Mexican Grill by 1.2% during the third quarter. Lecap Asset Management Ltd. now owns 14,625 shares of the restaurant operator’s stock valued at $843,000 after acquiring an additional 175 shares during the last quarter. Connable Office Inc. lifted its holdings in Chipotle Mexican Grill by 0.6% in the third quarter. Connable Office Inc. now owns 31,928 shares of the restaurant operator’s stock valued at $1,840,000 after acquiring an additional 178 shares during the period. Albion Financial Group UT lifted its holdings in Chipotle Mexican Grill by 14.4% in the third quarter. Albion Financial Group UT now owns 1,430 shares of the restaurant operator’s stock valued at $82,000 after acquiring an additional 180 shares during the period. Finally, CVA Family Office LLC lifted its holdings in Chipotle Mexican Grill by 8.7% in the third quarter. CVA Family Office LLC now owns 2,313 shares of the restaurant operator’s stock valued at $133,000 after acquiring an additional 185 shares during the period. Hedge funds and other institutional investors own 91.31% of the company’s stock.

Chipotle Mexican Grill Price Performance

NYSE CMG opened at $62.05 on Friday. The stock has a market capitalization of $84.55 billion, a PE ratio of 57.99, a P/E/G ratio of 2.49 and a beta of 1.26. The business has a 50 day simple moving average of $58.81 and a two-hundred day simple moving average of $80.88. 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 released its quarterly earnings results on Tuesday, October 29th. The restaurant operator reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.02. The business had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $2.82 billion. Chipotle Mexican Grill had a return on equity of 43.20% and a net margin of 13.51%. The firm’s revenue for the quarter was up 13.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.23 EPS. On average, analysts anticipate that Chipotle Mexican Grill, Inc. will post 1.11 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Citigroup lowered their target price on Chipotle Mexican Grill from $71.00 to $70.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. Royal Bank of Canada assumed coverage on Chipotle Mexican Grill in a report on Friday, November 15th. They issued an “outperform” rating and a $70.00 target price on the stock. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $67.00 target price on shares of Chipotle Mexican Grill in a report on Wednesday, August 14th. Wedbush reissued an “outperform” rating and issued a $69.00 target price on shares of Chipotle Mexican Grill in a report on Wednesday, October 30th. Finally, Robert W. Baird raised their price objective on Chipotle Mexican Grill from $62.00 to $70.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Ten equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat.com, Chipotle Mexican Grill currently has a consensus rating of “Moderate Buy” and a consensus price target of $65.27.

Insider Activity

In other news, insider Curtis E. Garner sold 15,750 shares of the firm’s stock in a transaction that occurred on Wednesday, September 11th. The stock was 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 of the company’s stock, valued at $26,052,740.28. This trade represents a 3.22 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Robin S. Hickenlooper sold 1,790 shares of the firm’s stock in a transaction that occurred on 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. Insiders sold 33,290 shares of company stock valued at $1,866,023 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.