Independence Bank of Kentucky Purchases 2,450 Shares of Chipotle Mexican Grill, Inc. (NYSE:CMG)

Independence Bank of Kentucky increased its holdings in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG) by 151.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,065 shares of the restaurant operator’s stock after acquiring an additional 2,450 shares during the period. Independence Bank of Kentucky’s holdings in Chipotle Mexican Grill were worth $245,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Alpha DNA Investment Management LLC increased its stake in shares of Chipotle Mexican Grill by 1.2% in the third quarter. Alpha DNA Investment Management LLC now owns 13,644 shares of the restaurant operator’s stock valued at $786,000 after buying an additional 168 shares in the last quarter. Lecap Asset Management Ltd. increased its position in Chipotle Mexican Grill by 1.2% in the 3rd quarter. Lecap Asset Management Ltd. now owns 14,625 shares of the restaurant operator’s stock valued at $843,000 after acquiring an additional 175 shares in the last quarter. Connable Office Inc. increased its position in Chipotle Mexican Grill by 0.6% in the 3rd quarter. Connable Office Inc. now owns 31,928 shares of the restaurant operator’s stock valued at $1,840,000 after acquiring an additional 178 shares in the last quarter. Albion Financial Group UT lifted its position in shares of Chipotle Mexican Grill by 14.4% during the third quarter. Albion Financial Group UT now owns 1,430 shares of the restaurant operator’s stock worth $82,000 after purchasing an additional 180 shares in the last quarter. Finally, Traynor Capital Management Inc. increased its holdings in shares of Chipotle Mexican Grill by 2.5% in the fourth quarter. Traynor Capital Management Inc. now owns 7,522 shares of the restaurant operator’s stock valued at $454,000 after purchasing an additional 181 shares in the last quarter. 91.31% of the stock is owned by institutional investors and hedge funds.

Chipotle Mexican Grill Stock Performance

Shares of NYSE CMG opened at $58.34 on Monday. The stock has a 50 day moving average price of $60.50 and a 200 day moving average price of $57.75. The stock has a market capitalization of $79.49 billion, a PE ratio of 54.30, a price-to-earnings-growth ratio of 2.05 and a beta of 1.27. Chipotle Mexican Grill, Inc. has a 52 week low of $47.98 and a 52 week high of $69.26.

Analysts Set New Price Targets

Several research analysts recently weighed in on CMG shares. Barclays boosted their price objective on shares of Chipotle Mexican Grill from $60.00 to $63.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 7th. Stephens reissued an “equal weight” rating and issued a $65.00 price target on shares of Chipotle Mexican Grill in a research note on Tuesday, November 12th. Jefferies Financial Group upped their price objective on Chipotle Mexican Grill from $56.00 to $62.00 and gave the company a “hold” rating in a report on Monday, December 16th. Robert W. Baird raised their target price on Chipotle Mexican Grill from $62.00 to $70.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Finally, Loop Capital increased their price target on shares of Chipotle Mexican Grill from $53.00 to $58.00 and gave the company a “hold” rating in a research report on Wednesday, October 30th. Ten research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $66.88.

Insider Activity

In related news, insider Laurie Schalow sold 4,404 shares of the business’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $65.01, for a total transaction of $286,304.04. Following the transaction, the insider now directly owns 185,792 shares in the company, valued at approximately $12,078,337.92. The trade was a 2.32 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.02% of the stock is currently owned by 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.