Magellan Asset Management Ltd Sells 826,005 Shares of Chipotle Mexican Grill, Inc. $CMG

Magellan Asset Management Ltd reduced its position in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG) by 17.1% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,001,695 shares of the restaurant operator’s stock after selling 826,005 shares during the quarter. Chipotle Mexican Grill makes up about 1.8% of Magellan Asset Management Ltd’s holdings, making the stock its 24th biggest holding. Magellan Asset Management Ltd owned about 0.31% of Chipotle Mexican Grill worth $148,063,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wealth Watch Advisors INC bought a new stake in Chipotle Mexican Grill during the 3rd quarter valued at $25,000. Financial Life Planners bought a new position in Chipotle Mexican Grill in the 3rd quarter worth $25,000. Murphy & Mullick Capital Management Corp raised its holdings in Chipotle Mexican Grill by 106.7% in the 3rd quarter. Murphy & Mullick Capital Management Corp now owns 775 shares of the restaurant operator’s stock worth $30,000 after purchasing an additional 400 shares in the last quarter. Winthrop Capital Management LLC bought a new position in Chipotle Mexican Grill in the 3rd quarter worth $31,000. Finally, Ameriflex Group Inc. raised its holdings in Chipotle Mexican Grill by 109.4% in the 3rd quarter. Ameriflex Group Inc. now owns 890 shares of the restaurant operator’s stock worth $35,000 after purchasing an additional 465 shares in the last quarter. 91.30% of the stock is currently owned by institutional investors.

Chipotle Mexican Grill Price Performance

Shares of Chipotle Mexican Grill stock opened at $28.05 on Friday. The company has a 50-day moving average of $32.93 and a 200 day moving average of $35.24. The firm has a market cap of $35.98 billion, a price-to-earnings ratio of 25.74, a PEG ratio of 1.85 and a beta of 0.99. Chipotle Mexican Grill, Inc. has a 1 year low of $28.03 and a 1 year high of $58.42.

Chipotle Mexican Grill (NYSE:CMG) last issued its quarterly earnings results on Wednesday, April 29th. The restaurant operator reported $0.24 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.24. The company had revenue of $3.09 billion during the quarter, compared to analyst estimates of $3.07 billion. Chipotle Mexican Grill had a net margin of 11.96% and a return on equity of 49.64%. Chipotle Mexican Grill’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same period last year, the business earned $0.29 EPS. On average, equities analysts anticipate that Chipotle Mexican Grill, Inc. will post 1.13 EPS for the current year.

Chipotle Mexican Grill News Roundup

Here are the key news stories impacting Chipotle Mexican Grill this week:

• Negative Sentiment: Morgan Stanley downgraded Chipotle to Equal-weight, saying its growth outlook is less attractive than peers and that the company’s sales drivers are unlikely to improve quickly. Morgan Stanley backs Yum Brands, cuts Chipotle rating as growth outlook diverges
• Negative Sentiment: Chipotle hit a new 52-week low as investors continued to sell on consumer-spending headwinds and broader macro pressure. Macro Pressures Drive Chipotle Stock To A New 52-Week Low
• Negative Sentiment: Traders showed a bearish bias in options activity, with put volume more than doubling its typical level, suggesting expectations for more downside or hedging demand.

Wall Street Analysts Forecast Growth

Several brokerages have commented on CMG. Stifel Nicolaus restated a “buy” rating on shares of Chipotle Mexican Grill in a report on Monday, March 9th. Weiss Ratings lowered shares of Chipotle Mexican Grill from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, May 20th. Wall Street Zen upgraded shares of Chipotle Mexican Grill from a “sell” rating to a “hold” rating in a report on Saturday, March 7th. Argus upgraded shares of Chipotle Mexican Grill from a “hold” rating to a “buy” rating and set a $40.00 price objective for the company in a report on Tuesday, May 5th. Finally, TD Cowen restated a “buy” rating and issued a $44.00 price objective on shares of Chipotle Mexican Grill in a report on Thursday, April 30th. Twenty-three analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Chipotle Mexican Grill has an average rating of “Moderate Buy” and a consensus target price of $45.65.

Chipotle Mexican Grill Company 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.