Carnegie Investment Counsel Invests $4.64 Million in Chipotle Mexican Grill, Inc. (NYSE:CMG)

Carnegie Investment Counsel bought a new stake in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 80,603 shares of the restaurant operator’s stock, valued at approximately $4,644,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Hazlett Burt & Watson Inc. raised its stake in Chipotle Mexican Grill by 19.0% during the 1st quarter. Hazlett Burt & Watson Inc. now owns 25 shares of the restaurant operator’s stock valued at $73,000 after purchasing an additional 4 shares during the period. Diversified Trust Co raised its stake in Chipotle Mexican Grill by 0.9% during the 1st quarter. Diversified Trust Co now owns 474 shares of the restaurant operator’s stock valued at $1,378,000 after purchasing an additional 4 shares during the period. Valley National Advisers Inc. raised its stake in Chipotle Mexican Grill by 9.8% during the 1st quarter. Valley National Advisers Inc. now owns 45 shares of the restaurant operator’s stock valued at $131,000 after purchasing an additional 4 shares during the period. Scott & Selber Inc. raised its stake in Chipotle Mexican Grill by 0.6% during the 1st quarter. Scott & Selber Inc. now owns 720 shares of the restaurant operator’s stock valued at $2,093,000 after purchasing an additional 4 shares during the period. Finally, Quent Capital LLC raised its stake in Chipotle Mexican Grill by 2.0% during the 1st quarter. Quent Capital LLC now owns 206 shares of the restaurant operator’s stock valued at $599,000 after purchasing an additional 4 shares during the period. Institutional investors own 91.31% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. StockNews.com downgraded Chipotle Mexican Grill from a “buy” rating to a “hold” rating in a research note on Thursday, July 4th. Loop Capital reduced their price objective on Chipotle Mexican Grill from $58.00 to $53.00 and set a “hold” rating on the stock in a research note on Thursday, July 25th. Oppenheimer reaffirmed an “outperform” rating and issued a $65.00 price objective on shares of Chipotle Mexican Grill in a research note on Monday, September 30th. Guggenheim lifted their price objective on Chipotle Mexican Grill from $54.50 to $55.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 24th. Finally, Argus lifted their price objective on Chipotle Mexican Grill from $73.36 to $77.76 and gave the stock a “buy” rating in a research note on Tuesday, June 18th. Ten research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat.com, Chipotle Mexican Grill presently has an average rating of “Moderate Buy” and a consensus target price of $62.55.

Chipotle Mexican Grill Stock Up 0.5 %

CMG opened at $58.65 on Monday. The business has a fifty day moving average of $55.60 and a 200 day moving average of $81.40. The stock has a market cap of $80.32 billion, a P/E ratio of 57.46, a PEG ratio of 2.41 and a beta of 1.25. Chipotle Mexican Grill, Inc. has a 52-week low of $35.37 and a 52-week high of $69.26.

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

Insider Buying and Selling at Chipotle Mexican Grill

In other Chipotle Mexican Grill news, insider Curtis E. Garner sold 17,394 shares of Chipotle Mexican Grill stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $54.68, for a total transaction of $951,103.92. Following the completion of the sale, the insider now directly owns 358,300 shares of the company’s stock, valued at $19,591,844. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, insider Curtis E. Garner sold 17,394 shares of the business’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $54.68, for a total value of $951,103.92. Following the completion of the transaction, the insider now directly owns 358,300 shares of the company’s stock, valued at approximately $19,591,844. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Curtis E. Garner sold 15,750 shares of the business’s stock in a transaction on 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 transaction, the insider now directly owns 473,514 shares of the company’s stock, valued at approximately $26,052,740.28. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 50,684 shares of company stock valued at $2,817,127 in the last ninety days. Corporate insiders own 1.02% of the company’s stock.

About Chipotle Mexican Grill

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.