Tradition Wealth Management LLC Increases Holdings in Chipotle Mexican Grill, Inc. (NYSE:CMG)

Tradition Wealth Management LLC lifted its stake in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG) by 8.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,702 shares of the restaurant operator’s stock after purchasing an additional 280 shares during the quarter. Tradition Wealth Management LLC’s holdings in Chipotle Mexican Grill were worth $213,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. American Century Companies Inc. grew its position in shares of Chipotle Mexican Grill by 4,732.3% during the 2nd quarter. American Century Companies Inc. now owns 20,177,309 shares of the restaurant operator’s stock valued at $1,264,109,000 after purchasing an additional 19,759,754 shares in the last quarter. Legal & General Group Plc boosted its stake in Chipotle Mexican Grill by 5,209.5% during the second quarter. Legal & General Group Plc now owns 10,935,669 shares of the restaurant operator’s stock valued at $685,128,000 after buying an additional 10,729,706 shares during the period. Massachusetts Financial Services Co. MA grew its position in Chipotle Mexican Grill by 5,930.8% during the second quarter. Massachusetts Financial Services Co. MA now owns 10,310,132 shares of the restaurant operator’s stock worth $645,930,000 after buying an additional 10,139,174 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Chipotle Mexican Grill by 4,816.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 8,356,173 shares of the restaurant operator’s stock worth $523,514,000 after acquiring an additional 8,186,198 shares during the last quarter. Finally, Marshall Wace LLP raised its holdings in shares of Chipotle Mexican Grill by 76,617.6% in the 2nd quarter. Marshall Wace LLP now owns 5,904,952 shares of the restaurant operator’s stock valued at $369,945,000 after acquiring an additional 5,897,255 shares in the last quarter. Hedge funds and other institutional investors own 91.31% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on CMG. Royal Bank of Canada initiated coverage on Chipotle Mexican Grill in a report on Friday, November 15th. They set an “outperform” rating and a $70.00 price objective for the company. BMO Capital Markets increased their price target on shares of Chipotle Mexican Grill from $55.00 to $56.00 and gave the stock a “market perform” rating in a report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $67.00 price objective on shares of Chipotle Mexican Grill in a research report on Wednesday, August 14th. Evercore ISI upped their target price on shares of Chipotle Mexican Grill from $59.00 to $70.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 15th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $70.00 target price on shares of Chipotle Mexican Grill in a research note on Wednesday, August 14th. Ten investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat.com, Chipotle Mexican Grill presently has a consensus rating of “Moderate Buy” and an average price target of $65.27.

Chipotle Mexican Grill Stock Down 1.6 %

Shares of CMG stock opened at $60.54 on Tuesday. The firm has a market capitalization of $82.49 billion, a price-to-earnings ratio of 56.58, a PEG ratio of 2.48 and a beta of 1.26. The stock has a fifty day moving average of $58.94 and a 200 day moving average of $81.09. Chipotle Mexican Grill, Inc. has a 52 week low of $44.08 and a 52 week high of $69.26.

Chipotle Mexican Grill (NYSE:CMG) last posted 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 net margin of 13.51% and a return on equity of 43.20%. The firm had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $2.82 billion. During the same period last year, the company posted $0.23 EPS. The company’s quarterly revenue was up 13.0% compared to the same quarter last year. Equities research analysts anticipate that Chipotle Mexican Grill, Inc. will post 1.11 earnings per share for the current year.

Insider Buying and Selling at Chipotle Mexican Grill

In other news, insider Curtis E. Garner sold 15,750 shares of the firm’s stock in a transaction that occurred 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 owns 473,514 shares in the company, valued at $26,052,740.28. This trade represents a 3.22 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Robin S. Hickenlooper sold 1,790 shares of the company’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $56.38, for a total value of $100,920.20. Following the completion of the sale, the director now directly owns 41,510 shares in the company, valued at approximately $2,340,333.80. The trade was a 4.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 33,290 shares of company stock valued at $1,866,023. 1.02% of the stock is currently owned by corporate insiders.

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.