Brown Capital Management LLC Trims Position in Chipotle Mexican Grill, Inc. (NYSE:CMG)

Brown Capital Management LLC decreased its holdings in Chipotle Mexican Grill, Inc. (NYSE:CMG) by 51.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 41,697 shares of the restaurant operator’s stock after selling 43,331 shares during the quarter. Brown Capital Management LLC’s holdings in Chipotle Mexican Grill were worth $2,403,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of CMG. American Century Companies Inc. raised its holdings in Chipotle Mexican Grill by 4,732.3% in the second quarter. American Century Companies Inc. now owns 20,177,309 shares of the restaurant operator’s stock valued at $1,264,109,000 after buying an additional 19,759,754 shares during the period. Legal & General Group Plc raised its holdings in Chipotle Mexican Grill by 5,209.5% in the second quarter. Legal & General Group Plc now owns 10,935,669 shares of the restaurant operator’s stock valued at $685,128,000 after acquiring an additional 10,729,706 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Chipotle Mexican Grill by 5,930.8% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 10,310,132 shares of the restaurant operator’s stock valued at $645,930,000 after purchasing an additional 10,139,174 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in Chipotle Mexican Grill by 4,816.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 8,356,173 shares of the restaurant operator’s stock worth $523,514,000 after buying an additional 8,186,198 shares during the last quarter. Finally, Marshall Wace LLP lifted its stake in Chipotle Mexican Grill by 76,617.6% during the second quarter. Marshall Wace LLP now owns 5,904,952 shares of the restaurant operator’s stock worth $369,945,000 after purchasing an additional 5,897,255 shares during the last quarter. Institutional investors and hedge funds own 91.31% of the company’s stock.

Insider Activity 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 that occurred on Monday, October 7th. The stock was sold at an average price of $57.05, for a total value of $898,537.50. Following the completion of the sale, the insider now owns 457,764 shares in the company, valued at approximately $26,115,436.20. This trade represents a 3.33 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robin S. Hickenlooper sold 1,790 shares of Chipotle Mexican Grill stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $56.38, for a total transaction of $100,920.20. Following the sale, the director now owns 41,510 shares in the company, valued at $2,340,333.80. This represents a 4.13 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 33,290 shares of company stock worth $1,866,023 in the last ninety days. 1.02% of the stock is currently owned by insiders.

Chipotle Mexican Grill Price Performance

CMG stock opened at $58.88 on Thursday. The company has a 50-day moving average of $58.26 and a two-hundred day moving average of $81.10. The stock has a market capitalization of $80.23 billion, a price-to-earnings ratio of 54.80, a price-to-earnings-growth ratio of 2.36 and a beta of 1.26. Chipotle Mexican Grill, Inc. has a 52-week low of $43.66 and a 52-week 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 EPS for the quarter, topping the consensus estimate of $0.25 by $0.02. Chipotle Mexican Grill had a return on equity of 43.20% and a net margin of 13.51%. The company had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.82 billion. During the same period in the previous year, the business posted $0.23 EPS. The company’s revenue for the quarter was up 13.0% on a year-over-year basis. Equities analysts expect that Chipotle Mexican Grill, Inc. will post 1.11 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Barclays raised their target price on shares of Chipotle Mexican Grill from $55.00 to $60.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Oppenheimer reiterated an “outperform” rating and issued a $65.00 target price on shares of Chipotle Mexican Grill in a research report on Monday, September 30th. Raymond James dropped their price objective on Chipotle Mexican Grill from $70.00 to $62.50 and set an “outperform” rating on the stock in a research note on Thursday, July 25th. TD Cowen boosted their target price on shares of Chipotle Mexican Grill from $65.00 to $68.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Finally, Stephens reaffirmed an “equal weight” rating and set a $65.00 target price on shares of Chipotle Mexican Grill in a report on Tuesday, November 12th. Ten investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat, Chipotle Mexican Grill presently has an average rating of “Moderate Buy” and a consensus price target of $65.27.

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.