1832 Asset Management L.P. Sells 413,154 Shares of Chipotle Mexican Grill, Inc. $CMG

Key Points

• 1832 Asset Management L.P. sold 413,154 shares of Chipotle Mexican Grill, reducing its stake by 16.7%, bringing its total ownership to approximately 2,053,600 shares valued at about $103.1 million.
• Several other institutional investors, including Vanguard Group Inc. and Price T Rowe Associates Inc., have also increased their stakes in Chipotle, emphasizing strong interest among institutional shareholders.
• Chipotle's recent earnings report showed earnings per share of $0.33, slightly exceeding estimates, with revenue of $3.06 billion; analysts project a consensus earnings per share of 1.29 for the current year.

1832 Asset Management L.P. cut its position in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG - Free Report) by 16.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,053,600 shares of the restaurant operator's stock after selling 413,154 shares during the period. 1832 Asset Management L.P. owned approximately 0.15% of Chipotle Mexican Grill worth $103,111,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in Chipotle Mexican Grill by 1.3% during the first quarter. Vanguard Group Inc. now owns 122,463,327 shares of the restaurant operator's stock valued at $6,148,884,000 after buying an additional 1,597,287 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in Chipotle Mexican Grill by 7.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 56,827,332 shares of the restaurant operator's stock valued at $2,853,302,000 after purchasing an additional 4,027,016 shares during the period. American Century Companies Inc. raised its position in Chipotle Mexican Grill by 2.1% during the first quarter. American Century Companies Inc. now owns 20,662,628 shares of the restaurant operator's stock valued at $1,037,471,000 after purchasing an additional 425,648 shares during the period. Northern Trust Corp raised its position in Chipotle Mexican Grill by 11.1% during the fourth quarter. Northern Trust Corp now owns 14,443,085 shares of the restaurant operator's stock valued at $870,918,000 after purchasing an additional 1,438,860 shares during the period. Finally, Nuveen LLC purchased a new stake in Chipotle Mexican Grill during the first quarter valued at approximately $535,023,000. 91.30% of the stock is owned by institutional investors.

Chipotle Mexican Grill Stock Performance

Shares of NYSE CMG opened at $43.58 on Friday. The business's 50 day moving average price is $49.60 and its 200-day moving average price is $50.62. Chipotle Mexican Grill, Inc. has a fifty-two week low of $41.18 and a fifty-two week high of $66.74. The company has a market cap of $58.44 billion, a price-to-earnings ratio of 38.91, a PEG ratio of 2.18 and a beta of 1.05.

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The restaurant operator reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.01. The firm had revenue of $3.06 billion for the quarter, compared to the consensus estimate of $3.11 billion. Chipotle Mexican Grill had a return on equity of 43.50% and a net margin of 13.32%.The company's revenue for the quarter was up 3.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.34 earnings per share. Sell-side analysts predict that Chipotle Mexican Grill, Inc. will post 1.29 earnings per share for the current year.

Analyst Ratings Changes

CMG has been the topic of a number of recent research reports. UBS Group upped their price objective on Chipotle Mexican Grill from $60.00 to $65.00 and gave the company a "buy" rating in a research report on Thursday, July 17th. Wells Fargo & Company decreased their price objective on Chipotle Mexican Grill from $65.00 to $60.00 and set an "overweight" rating on the stock in a research report on Thursday, July 24th. Redburn Atlantic initiated coverage on Chipotle Mexican Grill in a research report on Tuesday, June 10th. They set a "neutral" rating and a $55.00 price objective on the stock. TD Securities restated a "buy" rating and set a $57.00 price objective on shares of Chipotle Mexican Grill in a research report on Wednesday, June 18th. Finally, Piper Sandler upgraded Chipotle Mexican Grill from a "neutral" rating to an "overweight" rating and decreased their price objective for the company from $53.00 to $50.00 in a research report on Tuesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $60.22.

Insider Buying and Selling

In other Chipotle Mexican Grill news, insider Roger E. Theodoredis sold 113,875 shares of the firm's stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $49.70, for a total transaction of $5,659,587.50. Following the transaction, the insider directly owned 109,815 shares in the company, valued at $5,457,805.50. This trade represents a 50.91% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.81% of the stock is owned by insiders.

Chipotle Mexican Grill Company Profile

Chipotle Mexican Grill, Inc, together with its subsidiaries, owns and operates Chipotle Mexican Grill restaurants. It sells food and beverages through offering burritos, burrito bowls, quesadillas, tacos, and salads. The company also provides delivery and related services its app and website. It has operations in the United States, Canada, France, Germany, and the United Kingdom.

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