Candriam S.C.A. Lowers Holdings in Chipotle Mexican Grill, Inc. $CMG

Key Points

• Candriam S.C.A. reduced its holdings in Chipotle Mexican Grill by 10.8% during the first quarter, lowering its shares to 86,295 after selling 10,425 shares, which were valued at approximately $4.33 million.
• Several hedge funds have adjusted their stakes in Chipotle, including Nuveen LLC which acquired a new position worth about $535 million, while DZ BANK AG dramatically increased its stake by over 4,138,574% in the previous quarter.
• Analysts have varied opinions on Chipotle, with the stock receiving ratings ranging from "Strong Buy" to "Hold," resulting in a consensus price target of $60.22.

Candriam S.C.A. trimmed its holdings in Chipotle Mexican Grill, Inc. (NYSE:CMG - Free Report) by 10.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 86,295 shares of the restaurant operator's stock after selling 10,425 shares during the quarter. Candriam S.C.A.'s holdings in Chipotle Mexican Grill were worth $4,333,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Nuveen LLC purchased a new position in shares of Chipotle Mexican Grill in the 1st quarter valued at about $535,023,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its stake in shares of Chipotle Mexican Grill by 4,138,574.1% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 8,318,735 shares of the restaurant operator's stock valued at $501,620,000 after purchasing an additional 8,318,534 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Chipotle Mexican Grill by 98.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 9,900,521 shares of the restaurant operator's stock valued at $497,105,000 after purchasing an additional 4,903,969 shares in the last quarter. Montrusco Bolton Investments Inc. increased its stake in shares of Chipotle Mexican Grill by 5,319.7% in the 1st quarter. Montrusco Bolton Investments Inc. now owns 4,848,990 shares of the restaurant operator's stock valued at $235,580,000 after purchasing an additional 4,759,520 shares in the last quarter. Finally, Manning & Napier Advisors LLC purchased a new position in shares of Chipotle Mexican Grill in the 1st quarter valued at about $127,892,000. 91.30% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CMG has been the subject of several recent analyst reports. TD Securities restated a "buy" rating and issued a $57.00 price target on shares of Chipotle Mexican Grill in a research note on Wednesday, June 18th. Stephens restated an "equal weight" rating and set a $60.00 price target on shares of Chipotle Mexican Grill in a research report on Thursday, July 24th. Robert W. Baird reduced their price target on shares of Chipotle Mexican Grill from $62.00 to $59.00 and set an "outperform" rating for the company in a research report on Thursday, July 24th. Melius initiated coverage on shares of Chipotle Mexican Grill in a research report on Monday, July 14th. They set a "hold" rating and a $60.00 price target for the company. Finally, Truist Financial reduced their price target on shares of Chipotle Mexican Grill from $64.00 to $60.00 and set a "buy" rating for the company in a research report on Friday, July 25th. One research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $60.22.

Chipotle Mexican Grill Trading Up 1.6%

CMG stock opened at $43.58 on Friday. 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, Inc. has a 12 month low of $41.18 and a 12 month high of $66.74. The firm has a 50-day moving average of $49.60 and a two-hundred day moving average of $50.62.

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The restaurant operator reported $0.33 EPS for the quarter, beating analysts' consensus estimates of $0.32 by $0.01. The company had revenue of $3.06 billion during the quarter, compared to the consensus estimate of $3.11 billion. Chipotle Mexican Grill had a net margin of 13.32% and a return on equity of 43.50%. Chipotle Mexican Grill's quarterly revenue was up 3.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.34 EPS. As a group, equities analysts forecast that Chipotle Mexican Grill, Inc. will post 1.29 earnings per share for the current year.

Insider Activity

In other news, insider Roger E. Theodoredis sold 113,875 shares of the firm's stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $49.70, for a total transaction of $5,659,587.50. Following the completion of the sale, the insider owned 109,815 shares in the company, valued at $5,457,805.50. This trade represents a 50.91% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.81% of the stock is owned by corporate insiders.

Chipotle Mexican Grill 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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