Fred Alger Management LLC Sells 11,124 Shares of Chipotle Mexican Grill, Inc. $CMG

Key Points

• Fred Alger Management LLC reduced its stake in Chipotle Mexican Grill by 5.3%, selling 11,124 shares and holding 197,888 shares valued at approximately $9.94 million at the end of the first quarter.
• Vanguard Group and Price T Rowe Associates increased their holdings in Chipotle by 1.3% and 7.6%, respectively, indicating ongoing institutional interest in the company.
• Chipotle Mexican Grill reported a $0.33 EPS for the last quarter, slightly beating estimates, with a net margin of 13.32% and revenue growth of 3.0% year-over-year despite falling short of revenue expectations.

Fred Alger Management LLC lessened its stake in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG - Free Report) by 5.3% in the first quarter, according to its most recent filing with the SEC. The fund owned 197,888 shares of the restaurant operator's stock after selling 11,124 shares during the period. Fred Alger Management LLC's holdings in Chipotle Mexican Grill were worth $9,936,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Revolve Wealth Partners LLC grew its position in shares of Chipotle Mexican Grill by 4.7% during the 4th quarter. Revolve Wealth Partners LLC now owns 4,804 shares of the restaurant operator's stock worth $290,000 after buying an additional 214 shares during the period. Csenge Advisory Group grew its position in shares of Chipotle Mexican Grill by 5.0% during the 1st quarter. Csenge Advisory Group now owns 4,603 shares of the restaurant operator's stock worth $222,000 after buying an additional 220 shares during the period. Money Concepts Capital Corp grew its position in shares of Chipotle Mexican Grill by 3.0% during the 1st quarter. Money Concepts Capital Corp now owns 7,491 shares of the restaurant operator's stock worth $376,000 after buying an additional 221 shares during the period. Northwest Bank & Trust Co grew its position in shares of Chipotle Mexican Grill by 0.5% during the 4th quarter. Northwest Bank & Trust Co now owns 45,324 shares of the restaurant operator's stock worth $2,788,000 after buying an additional 236 shares during the period. Finally, Covestor Ltd grew its position in shares of Chipotle Mexican Grill by 5.3% during the 1st quarter. Covestor Ltd now owns 4,782 shares of the restaurant operator's stock worth $240,000 after buying an additional 242 shares during the period. Institutional investors and hedge funds own 91.30% of the company's stock.

Chipotle Mexican Grill Stock Performance

CMG traded down $0.31 during trading hours on Friday, reaching $38.65. The company's stock had a trading volume of 22,287,567 shares, compared to its average volume of 14,610,478. Chipotle Mexican Grill, Inc. has a 52 week low of $38.30 and a 52 week high of $66.74. The company's 50-day moving average is $45.91 and its 200-day moving average is $49.23. The firm has a market cap of $51.83 billion, a PE ratio of 34.51, a price-to-earnings-growth ratio of 1.97 and a beta of 1.02.

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) last issued 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. Chipotle Mexican Grill had a return on equity of 43.50% and a net margin of 13.32%.The firm had revenue of $3.06 billion for the quarter, compared to analyst estimates of $3.11 billion. During the same period in the prior year, the firm posted $0.34 EPS. The company's revenue for the quarter was up 3.0% on a year-over-year basis. Equities analysts anticipate that Chipotle Mexican Grill, Inc. will post 1.29 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on CMG shares. Redburn Atlantic started coverage on Chipotle Mexican Grill in a research report on Tuesday, June 10th. They set a "neutral" rating and a $55.00 target price for the company. Truist Financial decreased their target price on 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. Melius initiated coverage on Chipotle Mexican Grill in a research report on Monday, July 14th. They issued a "hold" rating and a $60.00 price objective for the company. BTIG Research reiterated a "buy" rating and issued a $57.00 price objective on shares of Chipotle Mexican Grill in a research report on Friday, September 5th. Finally, BMO Capital Markets upgraded Chipotle Mexican Grill from a "market perform" rating to an "outperform" rating and boosted their target price for the company from $56.00 to $65.00 in a research note on Friday, July 18th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $59.76.

About Chipotle Mexican Grill

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.