Bessemer Group Inc. Sells 3,768,669 Shares of Chipotle Mexican Grill, Inc. (NYSE:CMG)

Bessemer Group Inc. trimmed its stake in Chipotle Mexican Grill, Inc. (NYSE:CMGFree Report) by 98.4% in the 1st quarter, HoldingsChannel reports. The fund owned 61,296 shares of the restaurant operator’s stock after selling 3,768,669 shares during the quarter. Bessemer Group Inc.’s holdings in Chipotle Mexican Grill were worth $3,078,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of CMG. Norges Bank acquired a new position in shares of Chipotle Mexican Grill in the fourth quarter valued at about $1,093,345,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its position in shares of Chipotle Mexican Grill by 4,138,574.1% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 8,318,735 shares of the restaurant operator’s stock valued at $501,620,000 after acquiring an additional 8,318,534 shares in the last quarter. Alliancebernstein L.P. raised its holdings in shares of Chipotle Mexican Grill by 29.5% during the 4th quarter. Alliancebernstein L.P. now owns 30,100,520 shares of the restaurant operator’s stock worth $1,815,061,000 after acquiring an additional 6,853,470 shares during the period. Raymond James Financial Inc. purchased a new stake in Chipotle Mexican Grill in the fourth quarter valued at $315,220,000. Finally, Voya Investment Management LLC raised its position in Chipotle Mexican Grill by 114.2% in the fourth quarter. Voya Investment Management LLC now owns 8,986,971 shares of the restaurant operator’s stock valued at $541,914,000 after purchasing an additional 4,790,464 shares during the period. Hedge funds and other institutional investors own 91.31% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on CMG shares. Stifel Nicolaus lowered their target price on Chipotle Mexican Grill from $68.00 to $65.00 and set a “buy” rating for the company in a research note on Wednesday, March 19th. Evercore ISI decreased their price target on Chipotle Mexican Grill from $64.00 to $57.00 and set an “outperform” rating for the company in a report on Thursday, April 24th. TD Securities reissued a “buy” rating and issued a $57.00 target price on shares of Chipotle Mexican Grill in a report on Wednesday, June 18th. Piper Sandler reduced their price objective on Chipotle Mexican Grill from $59.00 to $52.00 and set a “neutral” rating for the company in a research note on Thursday, April 24th. Finally, Guggenheim set a $47.00 price objective on Chipotle Mexican Grill in a research note on Friday, April 25th. Ten research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $60.71.

View Our Latest Stock Report on Chipotle Mexican Grill

Insider Buying and Selling at Chipotle Mexican Grill

In related news, insider Roger E. Theodoredis sold 113,875 shares of the stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $49.70, for a total transaction of $5,659,587.50. Following the sale, the insider now owns 109,815 shares in the company, valued at approximately $5,457,805.50. This trade represents a 50.91% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.81% of the company’s stock.

Chipotle Mexican Grill Trading Up 1.4%

CMG opened at $55.04 on Friday. The stock has a market capitalization of $74.15 billion, a P/E ratio of 48.70, a P/E/G ratio of 2.69 and a beta of 1.06. Chipotle Mexican Grill, Inc. has a 12 month low of $44.46 and a 12 month high of $66.74. The firm’s fifty day simple moving average is $51.23 and its 200 day simple moving average is $53.66.

Chipotle Mexican Grill (NYSE:CMGGet Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The restaurant operator reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.01. The company had revenue of $2.88 billion for the quarter, compared to analyst estimates of $2.98 billion. Chipotle Mexican Grill had a net margin of 13.59% and a return on equity of 43.29%. Chipotle Mexican Grill’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same period in the previous year, the business earned $13.37 EPS. On average, equities research analysts predict that Chipotle Mexican Grill, Inc. will post 1.29 EPS for the current fiscal year.

Chipotle Mexican Grill Company Profile

(Free Report)

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.

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

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