Avity Investment Management Inc. Takes $28.60 Million Position in Chipotle Mexican Grill, Inc. (NYSE:CMG)

Avity Investment Management Inc. bought a new position in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 474,302 shares of the restaurant operator’s stock, valued at approximately $28,600,000. Chipotle Mexican Grill makes up about 2.2% of Avity Investment Management Inc.’s investment portfolio, making the stock its 23rd biggest position.

A number of other hedge funds also recently modified their holdings of CMG. Geode Capital Management LLC lifted its position in Chipotle Mexican Grill by 1.6% during the third quarter. Geode Capital Management LLC now owns 28,080,978 shares of the restaurant operator’s stock worth $1,612,682,000 after purchasing an additional 438,007 shares during the period. Franklin Resources Inc. raised its position in shares of Chipotle Mexican Grill by 2.9% in the 3rd quarter. Franklin Resources Inc. now owns 13,661,937 shares of the restaurant operator’s stock valued at $805,692,000 after buying an additional 381,873 shares in the last quarter. Legal & General Group Plc lifted its holdings in shares of Chipotle Mexican Grill by 5,209.5% during the 2nd quarter. Legal & General Group Plc now owns 10,935,669 shares of the restaurant operator’s stock worth $685,128,000 after acquiring an additional 10,729,706 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in shares of Chipotle Mexican Grill by 5,930.8% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 10,310,132 shares of the restaurant operator’s stock worth $645,930,000 after acquiring an additional 10,139,174 shares during the period. Finally, Janus Henderson Group PLC boosted its position in shares of Chipotle Mexican Grill by 5.6% during the 3rd quarter. Janus Henderson Group PLC now owns 9,830,644 shares of the restaurant operator’s stock worth $566,439,000 after acquiring an additional 518,521 shares in the last quarter. Institutional investors own 91.31% of the company’s stock.

Insider Transactions at Chipotle Mexican Grill

In related news, insider Laurie Schalow sold 4,404 shares of the business’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $65.01, for a total transaction of $286,304.04. Following the transaction, the insider now owns 185,792 shares in the company, valued at $12,078,337.92. The trade was a 2.32 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.02% of the company’s stock.

Chipotle Mexican Grill Stock Performance

Shares of NYSE CMG opened at $56.35 on Wednesday. The company’s 50 day moving average price is $60.94 and its 200-day moving average price is $57.91. Chipotle Mexican Grill, Inc. has a 52-week low of $45.50 and a 52-week high of $69.26. The company has a market capitalization of $76.78 billion, a P/E ratio of 52.45, a price-to-earnings-growth ratio of 2.64 and a beta of 1.27.

Chipotle Mexican Grill (NYSE:CMG) last released its 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 business had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $2.82 billion. During the same quarter last year, the firm posted $0.23 earnings per share. The firm’s revenue was up 13.0% on a year-over-year basis. Analysts forecast that Chipotle Mexican Grill, Inc. will post 1.11 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Robert W. Baird boosted their price objective on shares of Chipotle Mexican Grill from $62.00 to $70.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. BMO Capital Markets boosted their price target on Chipotle Mexican Grill from $55.00 to $56.00 and gave the stock a “market perform” rating in a report on Wednesday, October 30th. Raymond James upped their price objective on Chipotle Mexican Grill from $66.00 to $72.00 and gave the stock an “outperform” rating in a research report on Monday, December 16th. Stephens reiterated an “equal weight” rating and issued a $65.00 target price on shares of Chipotle Mexican Grill in a research report on Tuesday, November 12th. Finally, Piper Sandler raised their price target on shares of Chipotle Mexican Grill from $59.00 to $60.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Ten equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat, Chipotle Mexican Grill currently has a consensus rating of “Moderate Buy” and a consensus price target of $66.81.

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.