Connable Office Inc. Reduces Stake in Chipotle Mexican Grill, Inc. (NYSE:CMG)

Connable Office Inc. lowered its holdings in Chipotle Mexican Grill, Inc. (NYSE:CMG) by 1.3% during the fourth quarter, HoldingsChannel reports. The fund owned 31,528 shares of the restaurant operator’s stock after selling 400 shares during the period. Connable Office Inc.’s holdings in Chipotle Mexican Grill were worth $1,901,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Transcendent Capital Group LLC increased its holdings in shares of Chipotle Mexican Grill by 950.0% in the 3rd quarter. Transcendent Capital Group LLC now owns 525 shares of the restaurant operator’s stock valued at $30,000 after acquiring an additional 475 shares during the last quarter. Capital Performance Advisors LLP purchased a new position in Chipotle Mexican Grill during the 3rd quarter worth approximately $33,000. Sound Income Strategies LLC grew its stake in Chipotle Mexican Grill by 1,110.0% during the 4th quarter. Sound Income Strategies LLC now owns 605 shares of the restaurant operator’s stock worth $36,000 after buying an additional 555 shares during the last quarter. Truvestments Capital LLC purchased a new position in Chipotle Mexican Grill during the 3rd quarter worth approximately $37,000. Finally, Financial Life Planners purchased a new position in Chipotle Mexican Grill during the 4th quarter worth approximately $45,000. Hedge funds and other institutional investors own 91.31% of the company’s stock.

Chipotle Mexican Grill Stock Performance

Shares of CMG stock opened at $54.04 on Friday. The stock has a fifty day moving average price of $57.38 and a 200 day moving average price of $58.04. The stock has a market cap of $73.25 billion, a PE ratio of 48.68, a P/E/G ratio of 2.04 and a beta of 1.27. Chipotle Mexican Grill, Inc. has a 1 year low of $47.98 and a 1 year high of $69.26.

Chipotle Mexican Grill (NYSE:CMG) last issued its quarterly earnings data on Tuesday, February 4th. The restaurant operator reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.01. Chipotle Mexican Grill had a return on equity of 42.92% and a net margin of 13.56%. As a group, equities research analysts predict that Chipotle Mexican Grill, Inc. will post 1.29 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on CMG. Jefferies Financial Group raised their price target on Chipotle Mexican Grill from $56.00 to $62.00 and gave the stock a “hold” rating in a research note on Monday, December 16th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $75.00 price objective on shares of Chipotle Mexican Grill in a research report on Tuesday, January 28th. Oppenheimer increased their price objective on Chipotle Mexican Grill from $65.00 to $69.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 7th. Raymond James decreased their price objective on Chipotle Mexican Grill from $72.00 to $69.00 and set an “outperform” rating for the company in a research report on Tuesday, January 28th. Finally, Citigroup increased their price objective on Chipotle Mexican Grill from $69.00 to $70.00 and gave the stock a “buy” rating in a research report on Wednesday, February 5th. Ten equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Chipotle Mexican Grill has a consensus rating of “Moderate Buy” and a consensus price target of $66.31.

Insiders Place Their Bets

In other Chipotle Mexican Grill news, insider Laurie Schalow sold 4,404 shares of the firm’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $65.01, for a total transaction of $286,304.04. Following the completion of the transaction, the insider now owns 185,792 shares of the company’s stock, valued at approximately $12,078,337.92. This trade represents a 2.32 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 1.02% of the stock is currently owned by company insiders.

Chipotle Mexican Grill 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.