OV Management LLC Acquires 84,770 Shares of Chipotle Mexican Grill, Inc. (NYSE:CMG)

OV Management LLC raised its holdings in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG) by 4,900.0% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 86,500 shares of the restaurant operator’s stock after acquiring an additional 84,770 shares during the quarter. Chipotle Mexican Grill makes up 3.8% of OV Management LLC’s investment portfolio, making the stock its 6th biggest holding. OV Management LLC’s holdings in Chipotle Mexican Grill were worth $5,419,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Chipotle Mexican Grill during the 2nd quarter worth approximately $25,000. Riverview Trust Co grew its position in shares of Chipotle Mexican Grill by 4,900.0% during the second quarter. Riverview Trust Co now owns 400 shares of the restaurant operator’s stock worth $25,000 after acquiring an additional 392 shares during the last quarter. RiverPark Advisors LLC increased its holdings in shares of Chipotle Mexican Grill by 4,900.0% in the 2nd quarter. RiverPark Advisors LLC now owns 400 shares of the restaurant operator’s stock valued at $25,000 after acquiring an additional 392 shares during the period. Archer Investment Corp purchased a new stake in Chipotle Mexican Grill in the 2nd quarter valued at $25,000. Finally, Chilton Capital Management LLC purchased a new stake in Chipotle Mexican Grill in the 2nd quarter valued at $27,000. Hedge funds and other institutional investors own 91.31% of the company’s stock.

Chipotle Mexican Grill Stock Performance

CMG stock opened at $56.12 on Friday. Chipotle Mexican Grill, Inc. has a 1 year low of $35.37 and a 1 year high of $69.26. The firm has a market cap of $76.85 billion, a P/E ratio of 59.88, a price-to-earnings-growth ratio of 2.33 and a beta of 1.25. The stock has a 50-day simple moving average of $54.30 and a 200-day simple moving average of $80.70.

Chipotle Mexican Grill (NYSE:CMG) last posted its earnings results on Wednesday, July 24th. The restaurant operator reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.02. Chipotle Mexican Grill had a return on equity of 44.01% and a net margin of 13.23%. The business had revenue of $2.97 billion during the quarter, compared to analyst estimates of $2.94 billion. During the same quarter last year, the firm earned $12.65 earnings per share. The company’s revenue for the quarter was up 18.2% compared to the same quarter last year. On average, equities research analysts predict that Chipotle Mexican Grill, Inc. will post 1.08 EPS for the current year.

Insider Activity

In other news, insider Curtis E. Garner sold 15,750 shares of the stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $55.02, for a total value of $866,565.00. Following the completion of the sale, the insider now owns 473,514 shares in the company, valued at $26,052,740.28. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Chipotle Mexican Grill news, Director Robin S. Hickenlooper sold 1,790 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the director now owns 41,510 shares in the company, valued at approximately $2,340,333.80. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Curtis E. Garner sold 15,750 shares of the firm’s stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $55.02, for a total value of $866,565.00. Following the sale, the insider now owns 473,514 shares of the company’s stock, valued at approximately $26,052,740.28. The disclosure for this sale can be found here. Over the last quarter, insiders sold 34,934 shares of company stock worth $1,918,589. 1.02% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. KeyCorp dropped their price objective on shares of Chipotle Mexican Grill from $68.00 to $66.00 and set an “overweight” rating on the stock in a research note on Thursday, July 25th. 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 report on Thursday, July 25th. Citigroup dropped their price objective on Chipotle Mexican Grill from $71.00 to $69.00 and set a “buy” rating on the stock in a report on Thursday, July 25th. StockNews.com lowered Chipotle Mexican Grill from a “buy” rating to a “hold” rating in a report on Thursday, July 4th. Finally, Barclays dropped their price objective on Chipotle Mexican Grill from $58.00 to $55.00 and set an “equal weight” rating on the stock in a report on Thursday, July 25th. Ten equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat, Chipotle Mexican Grill presently has an average rating of “Moderate Buy” and an average price target of $62.36.

Chipotle Mexican Grill Company 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.