Alkeon Capital Management LLC Sells 1,875,000 Shares of Chipotle Mexican Grill, Inc. (NYSE:CMG)

Alkeon Capital Management LLC lowered its holdings in Chipotle Mexican Grill, Inc. (NYSE:CMG) by 65.2% during the third quarter, HoldingsChannel.com reports. The fund owned 1,001,250 shares of the restaurant operator’s stock after selling 1,875,000 shares during the period. Alkeon Capital Management LLC’s holdings in Chipotle Mexican Grill were worth $57,692,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in CMG. American Century Companies Inc. grew its stake in shares of Chipotle Mexican Grill by 4,732.3% in 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 during the period. Legal & General Group Plc boosted its stake in Chipotle Mexican Grill by 5,209.5% in the 2nd 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 in the last quarter. Massachusetts Financial Services Co. MA grew its position in Chipotle Mexican Grill by 5,930.8% in the second quarter. Massachusetts Financial Services Co. MA now owns 10,310,132 shares of the restaurant operator’s stock valued at $645,930,000 after acquiring an additional 10,139,174 shares during the period. Bank of New York Mellon Corp raised its stake in Chipotle Mexican Grill by 4,816.1% during the second 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 in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Chipotle Mexican Grill by 11.6% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,271,318 shares of the restaurant operator’s stock valued at $476,593,000 after acquiring an additional 858,704 shares during the period. Institutional investors and hedge funds own 91.31% of the company’s stock.

Chipotle Mexican Grill Price Performance

Chipotle Mexican Grill stock opened at $62.05 on Friday. The firm has a market capitalization of $84.55 billion, a price-to-earnings ratio of 57.99, a PEG ratio of 2.49 and a beta of 1.26. The company’s 50 day simple moving average is $58.81 and its 200 day simple moving average is $80.88. Chipotle Mexican Grill, Inc. has a fifty-two week low of $43.66 and a fifty-two week high of $69.26.

Chipotle Mexican Grill (NYSE:CMG) last announced its quarterly earnings results on Tuesday, October 29th. The restaurant operator reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.82 billion. During the same period last year, the firm posted $0.23 earnings per share. The business’s quarterly revenue was up 13.0% compared to the same quarter last year. As a group, analysts predict that Chipotle Mexican Grill, Inc. will post 1.11 EPS for the current fiscal year.

Analyst Ratings Changes

CMG has been the topic of several analyst reports. Oppenheimer reaffirmed an “outperform” rating and issued a $65.00 target price on shares of Chipotle Mexican Grill in a report on Monday, September 30th. Truist Financial raised their price objective on shares of Chipotle Mexican Grill from $71.00 to $72.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Stifel Nicolaus restated a “buy” rating and set a $70.00 price target on shares of Chipotle Mexican Grill in a research report on Wednesday, August 14th. BMO Capital Markets boosted their price objective on Chipotle Mexican Grill from $55.00 to $56.00 and gave the stock a “market perform” rating in a research note on Wednesday, October 30th. Finally, Loop Capital raised their target price on Chipotle Mexican Grill from $53.00 to $58.00 and gave the company a “hold” rating in a research note on Wednesday, October 30th. Ten investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $65.27.

Insiders Place Their Bets

In related news, Director Robin S. Hickenlooper sold 1,790 shares of the firm’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $56.38, for a total transaction of $100,920.20. Following the sale, the director now directly owns 41,510 shares in the company, valued at $2,340,333.80. This trade represents a 4.13 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Curtis E. Garner sold 15,750 shares of the company’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $57.05, for a total transaction of $898,537.50. Following the completion of the transaction, the insider now directly owns 457,764 shares of the company’s stock, valued at approximately $26,115,436.20. The trade was a 3.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 33,290 shares of company stock worth $1,866,023. Corporate insiders own 1.02% of the company’s stock.

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.