Bank Pictet & Cie Europe AG Acquires 19,000 Shares of Chipotle Mexican Grill, Inc. $CMG

Bank Pictet & Cie Europe AG increased its holdings in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG – Free Report) by 2.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 776,327 shares of the restaurant operator’s stock after purchasing an additional 19,000 shares during the period. Bank Pictet & Cie Europe AG’s holdings in Chipotle Mexican Grill were worth $24,804,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. MV Capital Management Inc. purchased a new stake in Chipotle Mexican Grill in the fourth quarter valued at $26,000. Osbon Capital Management LLC acquired a new stake in Chipotle Mexican Grill during the 2nd quarter worth about $26,000. Meeder Asset Management Inc. acquired a new stake in Chipotle Mexican Grill during the 2nd quarter worth about $27,000. Kelleher Financial Advisors purchased a new position in shares of Chipotle Mexican Grill during the 2nd quarter valued at about $28,000. Finally, Merkkuri Wealth Advisors LLC purchased a new position in shares of Chipotle Mexican Grill during the 1st quarter valued at about $28,000. 91.30% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Chipotle Mexican Grill

In other news, insider Matthew R. Bush sold 2,675 shares of Chipotle Mexican Grill stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $35.75, for a total value of $95,631.25. Following the sale, the insider directly owned 21,415 shares of the company’s stock, valued at $765,586.25. The trade was a 11.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.45% of the stock is currently owned by company insiders.

Chipotle Mexican Grill Price Performance

Chipotle Mexican Grill stock traded down $0.18 during midday trading on Tuesday, reaching $29.66. The company had a trading volume of 8,421,168 shares, compared to its average volume of 17,730,889. The company has a market capitalization of $37.54 billion, a P/E ratio of 27.21, a P/E/G ratio of 1.83 and a beta of 0.96. Chipotle Mexican Grill, Inc. has a 12-month low of $28.03 and a 12-month high of $42.74. The firm’s fifty day simple moving average is $33.93 and its 200-day simple moving average is $33.47.

Chipotle Mexican Grill (NYSE:CMG – Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The restaurant operator reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.01. Chipotle Mexican Grill had a return on equity of 54.65% and a net margin of 11.43%. The company had revenue of $3.35 billion for the quarter, compared to analysts’ expectations of $3.33 billion. During the same period in the previous year, the firm posted $0.33 EPS. Chipotle Mexican Grill’s revenue was up 9.3% compared to the same quarter last year. On average, analysts expect that Chipotle Mexican Grill, Inc. will post 1.14 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on CMG. Stephens decreased their price objective on Chipotle Mexican Grill from $40.00 to $38.00 and set an “equal weight” rating for the company in a report on Thursday, October 15th. Morgan Stanley raised their target price on Chipotle Mexican Grill from $39.00 to $40.00 and gave the stock an “equal weight” rating in a report on Thursday, October 15th. DA Davidson raised their target price on Chipotle Mexican Grill from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Evercore reiterated an “outperform” rating and set a $47.00 price target on shares of Chipotle Mexican Grill in a research report on Thursday, July 30th. Finally, Raymond James Financial decreased their price target on Chipotle Mexican Grill from $42.50 to $37.00 and set an “outperform” rating for the company in a report on Friday. Twenty-two research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $43.59.

Get Our Latest Research Report on Chipotle Mexican Grill

Chipotle Mexican Grill Profile

(Free Report)

Chipotle Mexican Grill, Inc (NYSE: CMG) operates a chain of fast-casual restaurants focused on Mexican-inspired food. Its menu includes burritos, burrito bowls, tacos, quesadillas and salads, with options such as chicken, steak, barbacoa, carnitas, sofritas and vegetables. The company emphasizes preparing food in its restaurants from ingredients it describes as responsibly sourced, including meats raised with attention to animal welfare and produce from selected suppliers.

Founded by Steve Ells in 1993, Chipotle opened its first restaurant in Denver, Colorado.

See Also

Want to see what other hedge funds are holding CMG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Chipotle Mexican Grill, Inc. (NYSE:CMG – Free Report).

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

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