Chipotle Mexican Grill, Inc. (CMG) Stake Lowered by Kornitzer Capital Management Inc. KS

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Kornitzer Capital Management Inc. KS trimmed its position in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG) by 40.4% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 3,028 shares of the restaurant operator’s stock after selling 2,050 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Chipotle Mexican Grill were worth $1,376,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in CMG. Baillie Gifford & Co. bought a new stake in shares of Chipotle Mexican Grill during the 3rd quarter valued at $229,937,000. Jennison Associates LLC raised its position in shares of Chipotle Mexican Grill by 128.5% during the 3rd quarter. Jennison Associates LLC now owns 830,269 shares of the restaurant operator’s stock valued at $377,374,000 after purchasing an additional 466,849 shares during the period. Massachusetts Financial Services Co. MA bought a new stake in shares of Chipotle Mexican Grill during the 3rd quarter valued at $69,452,000. FMR LLC raised its position in shares of Chipotle Mexican Grill by 10.2% during the 2nd quarter. FMR LLC now owns 1,620,408 shares of the restaurant operator’s stock valued at $698,995,000 after purchasing an additional 149,725 shares during the period. Finally, Wells Fargo & Company MN raised its position in shares of Chipotle Mexican Grill by 125.3% during the 3rd quarter. Wells Fargo & Company MN now owns 261,869 shares of the restaurant operator’s stock valued at $119,025,000 after purchasing an additional 145,631 shares during the period. Hedge funds and other institutional investors own 91.40% of the company’s stock.

Several brokerages have recently commented on CMG. Citigroup raised their price objective on shares of Chipotle Mexican Grill from $506.00 to $573.00 and gave the company a “buy” rating in a research report on Wednesday, August 15th. Wedbush downgraded shares of Chipotle Mexican Grill from a “neutral” rating to an “underperform” rating and decreased their price objective for the company from $450.00 to $445.00 in a research report on Monday, August 27th. William Blair reiterated a “hold” rating on shares of Chipotle Mexican Grill in a report on Thursday, August 23rd. Maxim Group reiterated a “hold” rating and issued a $500.00 price target (up from $430.00) on shares of Chipotle Mexican Grill in a report on Tuesday, August 28th. Finally, Morgan Stanley upgraded shares of Chipotle Mexican Grill from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $413.00 to $600.00 in a report on Wednesday, August 15th. Nine analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and fourteen have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $431.72.

Chipotle Mexican Grill stock opened at $468.35 on Thursday. The stock has a market capitalization of $13.01 billion, a price-to-earnings ratio of 70.96, a P/E/G ratio of 3.10 and a beta of 0.23. Chipotle Mexican Grill, Inc. has a 1 year low of $247.51 and a 1 year high of $530.68.

Chipotle Mexican Grill (NYSE:CMG) last released its quarterly earnings data on Thursday, October 25th. The restaurant operator reported $2.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.00 by $0.16. The company had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.23 billion. Chipotle Mexican Grill had a net margin of 3.96% and a return on equity of 17.14%. As a group, equities research analysts anticipate that Chipotle Mexican Grill, Inc. will post 8.47 earnings per share for the current year.

In other Chipotle Mexican Grill news, Director Pershing Square Capital Manage sold 118,307 shares of the business’s stock in a transaction dated Tuesday, November 6th. The shares were sold at an average price of $472.05, for a total value of $55,846,819.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.19% of the stock is owned by insiders.

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Chipotle Mexican Grill Profile

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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Want to see what other hedge funds are holding CMG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Chipotle Mexican Grill, Inc. (NYSE:CMG).

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

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