Montrusco Bolton Investments Inc. Makes New Investment in Chipotle Mexican Grill, Inc. (NYSE:CMG)

Montrusco Bolton Investments Inc. acquired a new position in Chipotle Mexican Grill, Inc. (NYSE:CMG) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 72,664 shares of the restaurant operator’s stock, valued at approximately $4,187,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Shellback Capital LP boosted its position in Chipotle Mexican Grill by 4,900.0% in the second quarter. Shellback Capital LP now owns 125,000 shares of the restaurant operator’s stock worth $7,831,000 after purchasing an additional 122,500 shares during the last quarter. Swedbank AB purchased a new position in Chipotle Mexican Grill in the first quarter worth $53,979,000. Optas LLC boosted its position in Chipotle Mexican Grill by 318.5% in the third quarter. Optas LLC now owns 17,160 shares of the restaurant operator’s stock worth $989,000 after purchasing an additional 13,060 shares during the last quarter. L & S Advisors Inc purchased a new position in Chipotle Mexican Grill in the third quarter worth $3,256,000. Finally, Savvy Advisors Inc. purchased a new position in Chipotle Mexican Grill in the third quarter worth $758,000. Hedge funds and other institutional investors own 91.31% of the company’s stock.

Chipotle Mexican Grill Trading Up 3.4 %

Shares of Chipotle Mexican Grill stock opened at $62.02 on Friday. The firm has a market capitalization of $84.51 billion, a PE ratio of 57.73, a price-to-earnings-growth ratio of 2.41 and a beta of 1.26. The business’s 50-day moving average price is $58.45 and its 200-day moving average price is $80.94. Chipotle Mexican Grill, Inc. has a 12 month low of $43.66 and a 12 month high of $69.26.

Chipotle Mexican Grill (NYSE:CMG) last announced its quarterly earnings data on Tuesday, October 29th. The restaurant operator reported $0.27 EPS for the quarter, beating the consensus estimate of $0.25 by $0.02. The firm had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.82 billion. Chipotle Mexican Grill had a return on equity of 43.20% and a net margin of 13.51%. The company’s revenue was up 13.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.23 EPS. As a group, analysts predict that Chipotle Mexican Grill, Inc. will post 1.11 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Robin S. Hickenlooper sold 1,790 shares of the stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $56.38, for a total transaction of $100,920.20. Following the completion of the sale, the director now directly owns 41,510 shares in the company, valued at $2,340,333.80. This represents a 4.13 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Curtis E. Garner sold 15,750 shares of the stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $55.02, for a total value of $866,565.00. Following the sale, the insider now owns 473,514 shares of the company’s stock, valued at $26,052,740.28. This represents a 3.22 % 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 worth $1,866,023. 1.02% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CMG. 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 report on Wednesday, October 30th. Stifel Nicolaus reaffirmed a “buy” rating and set a $70.00 price target on shares of Chipotle Mexican Grill in a research report on Wednesday, August 14th. Oppenheimer reaffirmed an “outperform” rating and set a $65.00 price target on shares of Chipotle Mexican Grill in a research report on Monday, September 30th. Citigroup dropped their price target on Chipotle Mexican Grill from $71.00 to $70.00 and set a “buy” rating on the stock in a research report on Wednesday, October 30th. Finally, Loop Capital upped their price target on 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 given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $65.27.

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.