Intech Investment Management LLC Sells 281,871 Shares of Chipotle Mexican Grill, Inc. $CMG

Key Points

• Intech Investment Management LLC has reduced its stake in Chipotle Mexican Grill by 16.3%, now holding approximately 1,450,323 shares after selling 281,871 shares in the first quarter.
• Several institutional investors, including Nuveen LLC, Goldman Sachs, and Montrusco Bolton Investments, have significantly increased their positions in Chipotle, with Goldman Sachs boosting its stake by 98.1%.
• Chipotle's stock is currently rated as "Moderate Buy" by analysts, with a consensus price target of $59.76, while the company recently reported earnings per share of $0.33, slightly above analyst expectations.

Intech Investment Management LLC trimmed its holdings in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG - Free Report) by 16.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,450,323 shares of the restaurant operator's stock after selling 281,871 shares during the period. Chipotle Mexican Grill comprises approximately 0.8% of Intech Investment Management LLC's portfolio, making the stock its 18th largest position. Intech Investment Management LLC owned about 0.11% of Chipotle Mexican Grill worth $72,821,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position 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 period. Price T Rowe Associates Inc. MD boosted 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 buying an additional 4,027,016 shares during the period. Alliancebernstein L.P. boosted its position in Chipotle Mexican Grill by 8.0% during the first quarter. Alliancebernstein L.P. now owns 32,505,318 shares of the restaurant operator's stock valued at $1,632,092,000 after buying an additional 2,404,798 shares during the period. American Century Companies Inc. boosted its holdings in shares of 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 worth $1,037,471,000 after purchasing an additional 425,648 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Chipotle Mexican Grill by 8.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 11,111,416 shares of the restaurant operator's stock worth $557,904,000 after purchasing an additional 833,760 shares during the period. 91.30% of the stock is currently owned by hedge funds and other institutional investors.

Chipotle Mexican Grill Price Performance

NYSE CMG traded down $0.31 during mid-day trading on Friday, reaching $38.65. The stock had a trading volume of 22,287,567 shares, compared to its average volume of 16,994,430. Chipotle Mexican Grill, Inc. has a 1 year low of $38.30 and a 1 year high of $66.74. The stock has a market cap of $51.83 billion, a PE ratio of 34.51, a price-to-earnings-growth ratio of 1.98 and a beta of 1.02. The company has a fifty day moving average price of $45.54 and a 200 day moving average price of $49.13.

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The restaurant operator reported $0.33 earnings per share for the quarter, topping analysts' consensus estimates of $0.32 by $0.01. Chipotle Mexican Grill had a net margin of 13.32% and a return on equity of 43.50%. The company had revenue of $3.06 billion during the quarter, compared to analyst estimates of $3.11 billion. During the same period in the previous year, the business earned $0.34 EPS. The firm's revenue for the quarter 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 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. BTIG Research reiterated a "buy" rating and set a $57.00 target price on shares of Chipotle Mexican Grill in a report on Friday, September 5th. KeyCorp dropped their price target on Chipotle Mexican Grill from $60.00 to $58.00 and set an "overweight" rating for the company in a research note on Thursday, July 24th. Raymond James Financial dropped their price target 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. JPMorgan Chase & Co. dropped their price target on Chipotle Mexican Grill from $58.00 to $54.00 and set a "neutral" rating for the company in a research note on Thursday, May 29th. Finally, Rothschild & Co Redburn raised Chipotle Mexican Grill from a "neutral" rating to a "buy" rating and set a $55.00 price target for the company in a research note on Wednesday, September 3rd. Two analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and eight have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price 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.