Chipotle Mexican Grill, Inc. (NYSE:CMG) Shares Sold by TD Asset Management Inc

Key Points

• TD Asset Management Inc reduced its ownership in Chipotle Mexican Grill by 22.7%, selling 350,879 shares and now holds a total of 1,198,054 shares valued at approximately $60 million.
• Several hedge funds increased their stakes in Chipotle, with Alliancebernstein L.P. raising its position by 29.5%, bringing its total to over 30 million shares worth $1.81 billion.
• Analysts have mixed ratings for Chipotle, with a consensus strong buy and a target price range, with prices set between $52.00 and $68.00, depending on the firm.

TD Asset Management Inc trimmed its holdings in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG - Free Report) by 22.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,198,054 shares of the restaurant operator's stock after selling 350,879 shares during the quarter. TD Asset Management Inc owned 0.09% of Chipotle Mexican Grill worth $60,154,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Alliancebernstein L.P. increased its position in shares of Chipotle Mexican Grill by 29.5% during the 4th quarter. Alliancebernstein L.P. now owns 30,100,520 shares of the restaurant operator's stock worth $1,815,061,000 after purchasing an additional 6,853,470 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Chipotle Mexican Grill by 1.4% during the 4th quarter. Geode Capital Management LLC now owns 28,476,031 shares of the restaurant operator's stock worth $1,712,238,000 after purchasing an additional 395,053 shares during the last quarter. Northern Trust Corp increased its position in shares of Chipotle Mexican Grill by 11.1% during the 4th quarter. Northern Trust Corp now owns 14,443,085 shares of the restaurant operator's stock worth $870,918,000 after purchasing an additional 1,438,860 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Chipotle Mexican Grill by 24.3% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,277,656 shares of the restaurant operator's stock worth $619,743,000 after purchasing an additional 2,006,338 shares during the last quarter. Finally, Janus Henderson Group PLC increased its position in shares of Chipotle Mexican Grill by 0.6% during the 4th quarter. Janus Henderson Group PLC now owns 9,889,179 shares of the restaurant operator's stock worth $596,333,000 after purchasing an additional 58,535 shares during the last quarter. 91.31% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on CMG shares. Loop Capital cut their price objective on Chipotle Mexican Grill from $65.00 to $63.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. Citigroup dropped their target price on Chipotle Mexican Grill from $68.00 to $62.00 and set a "buy" rating for the company in a research report on Thursday. Piper Sandler lifted their target price on Chipotle Mexican Grill from $52.00 to $53.00 and gave the company a "neutral" rating in a research report on Thursday. UBS Group lifted their target price 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. Finally, Morgan Stanley dropped their target price on Chipotle Mexican Grill from $67.00 to $65.00 and set an "overweight" rating for the company in a research report on Thursday, April 24th. Nine equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $60.71.

Chipotle Mexican Grill Trading Up 2.2%

Shares of NYSE CMG opened at $46.75 on Monday. Chipotle Mexican Grill, Inc. has a twelve month low of $44.46 and a twelve month high of $66.74. The stock has a 50 day moving average of $52.75 and a two-hundred day moving average of $52.54. The stock has a market cap of $62.98 billion, a P/E ratio of 41.74, a P/E/G ratio of 2.38 and a beta of 1.08.

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The restaurant operator reported $0.33 earnings per share for the quarter, beating analysts' consensus estimates 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 company had revenue of $3.06 billion during the quarter, compared to analysts' expectations of $3.11 billion. During the same quarter in the previous year, the business earned $0.34 earnings per share. The firm's revenue for the quarter was up 3.0% on a year-over-year basis. As a group, research analysts predict 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 business's stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $49.70, for a total value of $5,659,587.50. Following the transaction, the insider owned 109,815 shares of the company's stock, valued at approximately $5,457,805.50. The trade was a 50.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.02% of the company's stock.

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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