Chipotle Mexican Grill, Inc. (NYSE:CMG) Shares Sold by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. lessened its stake in Chipotle Mexican Grill, Inc. (NYSE:CMG) by 52.7% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,132 shares of the restaurant operator’s stock after selling 7,942 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Chipotle Mexican Grill were worth $11,057,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of CMG. Edgewood Management LLC increased its position in Chipotle Mexican Grill by 14.5% in the 1st quarter. Edgewood Management LLC now owns 1,283,830 shares of the restaurant operator’s stock valued at $1,824,091,000 after acquiring an additional 162,430 shares during the period. Bessemer Group Inc. boosted its holdings in Chipotle Mexican Grill by 11,281.2% in the 2nd quarter. Bessemer Group Inc. now owns 114,040 shares of the restaurant operator’s stock valued at $176,800,000 after purchasing an additional 113,038 shares in the last quarter. Zurich Insurance Group Ltd FI purchased a new stake in Chipotle Mexican Grill in the 1st quarter valued at approximately $99,888,000. Arrowstreet Capital Limited Partnership boosted its holdings in Chipotle Mexican Grill by 181.3% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 60,360 shares of the restaurant operator’s stock valued at $85,761,000 after purchasing an additional 38,900 shares in the last quarter. Finally, Fred Alger Management LLC boosted its holdings in Chipotle Mexican Grill by 38.1% in the 1st quarter. Fred Alger Management LLC now owns 134,358 shares of the restaurant operator’s stock valued at $190,899,000 after purchasing an additional 37,045 shares in the last quarter. Hedge funds and other institutional investors own 90.32% of the company’s stock.

In related news, CFO Jack Hartung sold 12,023 shares of the company’s stock in a transaction on Friday, August 27th. The shares were sold at an average price of $1,920.83, for a total transaction of $23,094,139.09. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Pershing Square Capital Manage acquired 25,430 shares of the firm’s stock in a transaction on Tuesday, September 7th. The stock was purchased at an average cost of $1,909.68 per share, with a total value of $48,563,162.40. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 40,408 shares of company stock valued at $72,494,297. Insiders own 1.00% of the company’s stock.

CMG has been the topic of a number of analyst reports. Argus lifted their price objective on Chipotle Mexican Grill from $2,110.00 to $2,200.00 and gave the company a “buy” rating in a report on Friday. Piper Sandler reaffirmed an “overweight” rating and issued a $2,600.00 price objective (up previously from $2,235.00) on shares of Chipotle Mexican Grill in a report on Wednesday, September 15th. They noted that the move was a valuation call. Wedbush lifted their price objective on Chipotle Mexican Grill from $1,800.00 to $2,150.00 and gave the company an “outperform” rating in a report on Tuesday, September 7th. Robert W. Baird reissued a “buy” rating on shares of Chipotle Mexican Grill in a research note on Wednesday, September 15th. Finally, Raymond James lowered Chipotle Mexican Grill from a “strong-buy” rating to an “outperform” rating and boosted their price target for the stock from $1,800.00 to $2,025.00 in a research note on Monday, August 16th. Nine research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to MarketBeat.com, Chipotle Mexican Grill presently has a consensus rating of “Buy” and a consensus target price of $1,822.86.

Shares of CMG opened at $1,937.22 on Friday. The stock has a fifty day moving average of $1,870.48 and a two-hundred day moving average of $1,595.13. The company has a market capitalization of $54.43 billion, a PE ratio of 94.22, a price-to-earnings-growth ratio of 3.73 and a beta of 1.36. Chipotle Mexican Grill, Inc. has a fifty-two week low of $1,172.29 and a fifty-two week high of $1,958.55.

Chipotle Mexican Grill (NYSE:CMG) last released its quarterly earnings data on Monday, July 19th. The restaurant operator reported $7.46 EPS for the quarter, topping analysts’ consensus estimates of $6.52 by $0.94. The business had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.88 billion. Chipotle Mexican Grill had a return on equity of 28.27% and a net margin of 8.57%. The business’s revenue for the quarter was up 38.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.40 EPS. As a group, research analysts anticipate that Chipotle Mexican Grill, Inc. will post 25.48 earnings per share for the current year.

Chipotle Mexican Grill Company Profile

Chipotle Mexican Grill, Inc engages in the development and operation of classically-cooked, real food with wholesome ingredients without artificial colors, flavors or preservatives. It offers focused menu of burritos, tacos, burrito bowls, and salads prepared using classic cooking methods. The company was founded by Steve Ells in 1993 and is headquartered in Newport Beach, CA.

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Institutional Ownership by Quarter for Chipotle Mexican Grill (NYSE:CMG)

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