Assenagon Asset Management S.A. Sells 1,061,567 Shares of Chipotle Mexican Grill, Inc. $CMG

Key Points

• Assenagon Asset Management S.A. has reduced its holdings in Chipotle Mexican Grill by 26.8%, owning approximately 2.9 million shares after selling over 1 million shares in the second quarter.
• Despite a slight decrease in shares, Chipotle reported a net margin of 13.32% and revenue of $3.06 billion in its most recent quarterly earnings, surpassing EPS estimates.
• Most analysts maintain a Moderate Buy rating for Chipotle, with target prices ranging from $57.00 to $64.00, indicating overall confidence in the company's performance.

Assenagon Asset Management S.A. lowered its position in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG - Free Report) by 26.8% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,904,082 shares of the restaurant operator's stock after selling 1,061,567 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.22% of Chipotle Mexican Grill worth $163,064,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. raised its position in shares of Chipotle Mexican Grill by 5.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 8,979,637 shares of the restaurant operator's stock worth $450,868,000 after acquiring an additional 491,002 shares during the last quarter. Corient IA LLC bought a new stake in shares of Chipotle Mexican Grill during the first quarter worth $753,000. Advisors Asset Management Inc. raised its position in shares of Chipotle Mexican Grill by 32.4% during the first quarter. Advisors Asset Management Inc. now owns 75,368 shares of the restaurant operator's stock worth $3,784,000 after acquiring an additional 18,458 shares during the last quarter. Banco Santander S.A. raised its position in shares of Chipotle Mexican Grill by 47.6% during the first quarter. Banco Santander S.A. now owns 31,764 shares of the restaurant operator's stock worth $1,595,000 after acquiring an additional 10,246 shares during the last quarter. Finally, Community Trust & Investment Co. bought a new stake in shares of Chipotle Mexican Grill during the first quarter worth $7,773,000. Institutional investors own 91.30% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on CMG shares. Guggenheim decreased their price objective on Chipotle Mexican Grill from $47.00 to $46.00 and set a "neutral" rating for the company in a research note on Friday, July 25th. BMO Capital Markets raised Chipotle Mexican Grill from a "market perform" rating to an "outperform" rating and lifted their price objective for the stock from $56.00 to $65.00 in a research note on Friday, July 18th. Raymond James Financial decreased their price objective on Chipotle Mexican Grill from $60.00 to $56.00 and set an "outperform" rating for the company in a research note on Friday, August 15th. TD Securities reaffirmed a "buy" rating and set a $57.00 price objective on shares of Chipotle Mexican Grill in a research note on Wednesday, June 18th. Finally, Stephens reaffirmed an "equal weight" rating and set a $60.00 price objective on shares of Chipotle Mexican Grill in a research note on Thursday, September 11th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and eight have issued a Hold rating to the company's stock. According to data from MarketBeat, Chipotle Mexican Grill has a consensus rating of "Moderate Buy" and a consensus target price of $59.76.

Chipotle Mexican Grill Stock Performance

CMG traded down $0.51 on Friday, hitting $39.30. 36,393,078 shares of the company were exchanged, compared to its average volume of 18,575,692. Chipotle Mexican Grill, Inc. has a 12 month low of $38.30 and a 12 month high of $66.74. The company has a market cap of $52.70 billion, a PE ratio of 35.09, a PEG ratio of 2.00 and a beta of 1.02. The stock's fifty day moving average is $43.88 and its 200-day moving average is $48.61.

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

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.