Kornitzer Capital Management Inc. KS Sells 30,285 Shares of Chipotle Mexican Grill, Inc. $CMG

Kornitzer Capital Management Inc. KS lessened its stake in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG) by 68.5% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 13,945 shares of the restaurant operator’s stock after selling 30,285 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in Chipotle Mexican Grill were worth $547,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. Sarasin & Partners LLP lifted its stake in shares of Chipotle Mexican Grill by 1.1% in the 3rd quarter. Sarasin & Partners LLP now owns 2,565,111 shares of the restaurant operator’s stock valued at $102,348,000 after acquiring an additional 27,366 shares during the last quarter. Rexford Capital Inc. lifted its stake in Chipotle Mexican Grill by 3,266.1% in the third quarter. Rexford Capital Inc. now owns 14,676 shares of the restaurant operator’s stock worth $575,000 after acquiring an additional 14,240 shares during the period. Union Bancaire Privee UBP SA lifted its position in shares of Chipotle Mexican Grill by 76.3% in the 3rd quarter. Union Bancaire Privee UBP SA now owns 356,986 shares of the restaurant operator’s stock worth $13,333,000 after purchasing an additional 154,512 shares during the period. Hilltop National Bank purchased a new stake in Chipotle Mexican Grill in the second quarter worth about $2,579,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Chipotle Mexican Grill by 7.1% during the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,596,483 shares of the restaurant operator’s stock valued at $145,793,000 after purchasing an additional 171,466 shares in the last quarter. 91.30% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Sanford C. Bernstein lifted their price target on shares of Chipotle Mexican Grill from $40.00 to $50.00 and gave the company an “outperform” rating in a research report on Monday, January 5th. Wells Fargo & Company boosted their price target on Chipotle Mexican Grill from $45.00 to $50.00 and gave the stock an “overweight” rating in a research note on Thursday, January 22nd. KeyCorp decreased their price objective on shares of Chipotle Mexican Grill from $52.00 to $45.00 and set an “overweight” rating for the company in a report on Thursday, October 30th. BTIG Research reduced their price target on shares of Chipotle Mexican Grill from $57.00 to $45.00 and set a “buy” rating for the company in a research report on Thursday, October 30th. Finally, Barclays raised their target price on Chipotle Mexican Grill from $38.00 to $44.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 7th. Two analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and thirteen have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $50.23.

Chipotle Mexican Grill Price Performance

Shares of NYSE CMG opened at $39.14 on Thursday. The stock has a market cap of $51.76 billion, a PE ratio of 34.64, a price-to-earnings-growth ratio of 3.57 and a beta of 0.97. Chipotle Mexican Grill, Inc. has a 1 year low of $29.75 and a 1 year high of $59.57. The firm has a fifty day moving average price of $36.91 and a 200-day moving average price of $39.50.

Chipotle Mexican Grill (NYSE:CMG) last issued its earnings results on Wednesday, October 29th. The restaurant operator reported $0.29 earnings per share for the quarter, hitting the consensus estimate of $0.29. Chipotle Mexican Grill had a net margin of 13.04% and a return on equity of 45.39%. The company had revenue of $3 billion during the quarter, compared to the consensus estimate of $3.06 billion. During the same quarter in the prior year, the firm posted $0.27 EPS. Chipotle Mexican Grill’s quarterly revenue was up 7.5% compared to the same quarter last year. On average, research analysts expect that Chipotle Mexican Grill, Inc. will post 1.29 EPS for the current year.

Chipotle Mexican Grill Profile

Chipotle Mexican Grill is a fast-casual restaurant company known for its Mexican-inspired menu of burritos, bowls, tacos and salads. Founded in 1993 by Steve Ells, the chain emphasizes fresh, customizable meals made from a limited menu of core ingredients and a focus on ingredient quality. Chipotle operates primarily company-owned restaurants and offers dine-in, takeout, catering and delivery through its own digital platforms and third-party partners.

The company is headquartered in Newport Beach, California, and traces its roots to Denver, Colorado.