Traders Sell Chipotle Mexican Grill (CMG) on Strength on Insider Selling
Traders sold shares of Chipotle Mexican Grill, Inc. (NYSE:CMG) on strength during trading hours on Thursday following insider selling activity. $68.92 million flowed into the stock on the tick-up and $87.43 million flowed out of the stock on the tick-down, for a money net flow of $18.51 million out of the stock. Of all stocks tracked, Chipotle Mexican Grill had the 0th highest net out-flow for the day. Chipotle Mexican Grill traded up $4.81 for the day and closed at $604.43Specifically, Director Pershing Square Capital Manage sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, February 12th. The stock was sold at an average price of $594.65, for a total transaction of $11,893,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Jack Hartung sold 7,150 shares of the firm’s stock in a transaction dated Tuesday, February 12th. The stock was sold at an average price of $606.77, for a total value of $4,338,405.50. Following the sale, the chief financial officer now directly owns 45,237 shares of the company’s stock, valued at $27,448,454.49. The disclosure for this sale can be found here. Insiders have sold a total of 39,130 shares of company stock valued at $23,448,757 over the last ninety days. Company insiders own 2.19% of the company’s stock.
A number of equities research analysts have recently weighed in on CMG shares. Robert W. Baird reaffirmed a “buy” rating and set a $525.00 price target on shares of Chipotle Mexican Grill in a research note on Thursday, January 3rd. Piper Jaffray Companies set a $550.00 price target on Chipotle Mexican Grill and gave the stock a “buy” rating in a research note on Monday, October 22nd. Wells Fargo & Co raised their price target on Chipotle Mexican Grill from $415.00 to $420.00 and gave the stock a “market perform” rating in a research note on Friday, October 26th. Wedbush reaffirmed an “underperform” rating and set a $500.00 price target (up from $440.00) on shares of Chipotle Mexican Grill in a research note on Thursday, February 7th. Finally, KeyCorp raised their price target on Chipotle Mexican Grill from $525.00 to $625.00 and gave the stock an “overweight” rating in a research note on Thursday, February 7th. Nine analysts have rated the stock with a sell rating, fifteen have issued a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. Chipotle Mexican Grill currently has an average rating of “Hold” and an average target price of $505.29.
The company has a market cap of $16.82 billion, a price-to-earnings ratio of 66.88, a P/E/G ratio of 2.79 and a beta of 0.60.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc grew its holdings in Chipotle Mexican Grill by 1.9% in the 3rd quarter. Vanguard Group Inc now owns 2,590,430 shares of the restaurant operator’s stock valued at $1,177,403,000 after buying an additional 47,822 shares during the last quarter. FMR LLC grew its holdings in Chipotle Mexican Grill by 10.2% in the 2nd quarter. FMR LLC now owns 1,620,408 shares of the restaurant operator’s stock valued at $698,995,000 after buying an additional 149,725 shares during the last quarter. BlackRock Inc. grew its holdings in Chipotle Mexican Grill by 4.2% in the 4th quarter. BlackRock Inc. now owns 1,615,632 shares of the restaurant operator’s stock valued at $697,615,000 after buying an additional 64,606 shares during the last quarter. Jennison Associates LLC grew its holdings in Chipotle Mexican Grill by 128.5% in the 3rd quarter. Jennison Associates LLC now owns 830,269 shares of the restaurant operator’s stock valued at $377,374,000 after buying an additional 466,849 shares during the last quarter. Finally, Renaissance Technologies LLC grew its holdings in Chipotle Mexican Grill by 255.0% in the 3rd quarter. Renaissance Technologies LLC now owns 792,000 shares of the restaurant operator’s stock valued at $359,980,000 after buying an additional 568,900 shares during the last quarter. 91.25% of the stock is currently owned by hedge funds and other institutional investors.
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About Chipotle Mexican Grill (NYSE:CMG)
Chipotle Mexican Grill, Inc, together with its subsidiaries, operates Chipotle Mexican Grill restaurants. As of September 30, 2018, it operated 2,424 Chipotle restaurants in the United States, as well as 37 international Chipotle restaurants. The company was founded in 1993 and is headquartered in Newport Beach, California.
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