JPMorgan Chase & Co. Sells 88,925 Shares of Chipotle Mexican Grill, Inc. (NYSE:CMG)

JPMorgan Chase & Co. trimmed its holdings in Chipotle Mexican Grill, Inc. (NYSE:CMG) by 11.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 673,236 shares of the restaurant operator’s stock after selling 88,925 shares during the quarter. JPMorgan Chase & Co. owned 2.39% of Chipotle Mexican Grill worth $956,548,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Alpha DNA Investment Management LLC acquired a new position in Chipotle Mexican Grill during the 4th quarter valued at $27,000. Grandview Asset Management LLC bought a new stake in shares of Chipotle Mexican Grill in the first quarter valued at about $29,000. GPS Wealth Strategies Group LLC acquired a new stake in Chipotle Mexican Grill during the first quarter worth about $31,000. Childress Capital Advisors LLC bought a new position in Chipotle Mexican Grill during the fourth quarter valued at about $40,000. Finally, Safeguard Investment Advisory Group LLC acquired a new position in Chipotle Mexican Grill in the 4th quarter valued at approximately $41,000. Institutional investors and hedge funds own 89.54% of the company’s stock.

NYSE:CMG traded up $5.60 on Friday, hitting $1,350.29. 3,311 shares of the stock were exchanged, compared to its average volume of 283,895. The firm has a market capitalization of $38.01 billion, a PE ratio of 94.36, a price-to-earnings-growth ratio of 2.92 and a beta of 1.35. Chipotle Mexican Grill, Inc. has a 52 week low of $964.50 and a 52 week high of $1,579.52. The business has a 50-day moving average of $1,420.42.

Chipotle Mexican Grill (NYSE:CMG) last posted its quarterly earnings results on Tuesday, April 20th. The restaurant operator reported $5.36 earnings per share for the quarter, topping the Zacks’ consensus estimate of $4.92 by $0.44. Chipotle Mexican Grill had a net margin of 6.44% and a return on equity of 19.45%. The business had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.74 billion. During the same period in the previous year, the firm posted $3.08 earnings per share. Chipotle Mexican Grill’s revenue for the quarter was up 23.4% compared to the same quarter last year. Equities research analysts expect that Chipotle Mexican Grill, Inc. will post 24.54 EPS for the current fiscal year.

In related news, CMO Christopher W. Brandt sold 1,331 shares of Chipotle Mexican Grill stock in a transaction that occurred on Tuesday, March 16th. The shares were sold at an average price of $1,478.00, for a total transaction of $1,967,218.00. Also, insider Scott Boatwright sold 1,763 shares of the business’s stock in a transaction that occurred on Monday, April 12th. The shares were sold at an average price of $1,559.84, for a total transaction of $2,749,997.92. Following the transaction, the insider now owns 17,271 shares of the company’s stock, valued at approximately $26,939,996.64. The disclosure for this sale can be found here. Insiders sold 5,998 shares of company stock worth $8,970,361 in the last three months. Insiders own 1.00% of the company’s stock.

CMG has been the topic of a number of research reports. Piper Sandler boosted their price objective on Chipotle Mexican Grill from $2,000.00 to $2,100.00 and gave the company an “overweight” rating in a research report on Thursday, May 13th. Cowen dropped their price objective on shares of Chipotle Mexican Grill from $1,900.00 to $1,850.00 and set an “outperform” rating for the company in a research note on Thursday, April 22nd. Truist Securiti lifted their target price on shares of Chipotle Mexican Grill from $1,700.00 to $1,750.00 in a research report on Tuesday, April 6th. Raymond James upgraded shares of Chipotle Mexican Grill from a “market perform” rating to an “outperform” rating and set a $1,800.00 price target for the company in a research note on Monday, April 12th. Finally, JPMorgan Chase & Co. upped their price objective on Chipotle Mexican Grill from $1,350.00 to $1,460.00 and gave the company a “neutral” rating in a research note on Monday, April 12th. They noted that the move was a valuation call. Eight investment analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $1,665.77.

Chipotle Mexican Grill Company Profile

Chipotle Mexican Grill, Inc, together with its subsidiaries, owns and operates Chipotle Mexican Grill restaurants. As of December 31, 2020, it owned and operated 2,724 Chipotle restaurants in the United States, 40 international Chipotle restaurants, and 4 non-Chipotle restaurants. The company was founded in 1993 and is headquartered in Newport Beach, California.

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Institutional Ownership by Quarter for Chipotle Mexican Grill (NYSE:CMG)

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