KBC Group NV Reduces Holdings in Chipotle Mexican Grill, Inc. (NYSE:CMG)

KBC Group NV reduced its position in Chipotle Mexican Grill, Inc. (NYSE:CMG - Free Report) by 2.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 636,872 shares of the restaurant operator's stock after selling 17,068 shares during the period. KBC Group NV's holdings in Chipotle Mexican Grill were worth $31,977,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Raymond James Financial Inc. acquired a new position in shares of Chipotle Mexican Grill in the fourth quarter worth about $315,220,000. Vinva Investment Management Ltd raised its position in shares of Chipotle Mexican Grill by 50.6% in the 4th quarter. Vinva Investment Management Ltd now owns 65,069 shares of the restaurant operator's stock valued at $3,910,000 after purchasing an additional 21,864 shares in the last quarter. Community Trust & Investment Co. purchased a new position in shares of Chipotle Mexican Grill during the 1st quarter valued at approximately $7,773,000. Headlands Technologies LLC acquired a new stake in shares of Chipotle Mexican Grill during the fourth quarter worth approximately $488,000. Finally, Interval Partners LP bought a new stake in shares of Chipotle Mexican Grill in the fourth quarter worth $51,811,000. 91.31% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have commented on CMG. Wells Fargo & Company reduced their price objective on shares of Chipotle Mexican Grill from $70.00 to $60.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 22nd. Redburn Atlantic initiated coverage on Chipotle Mexican Grill in a research note on Tuesday, June 10th. They issued a "neutral" rating and a $55.00 price target for the company. Argus cut Chipotle Mexican Grill from a "buy" rating to a "hold" rating in a research note on Monday, April 28th. Stephens reiterated an "equal weight" rating and issued a $49.00 target price on shares of Chipotle Mexican Grill in a research report on Monday, June 9th. Finally, Citigroup reduced their price objective on Chipotle Mexican Grill from $70.00 to $62.00 and set a "buy" rating on the stock in a research note on Wednesday, April 2nd. Ten research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $60.71.

Chipotle Mexican Grill Price Performance

Shares of CMG opened at $55.04 on Monday. The business's 50-day moving average is $51.23 and its 200-day moving average is $53.49. The company has a market capitalization of $74.15 billion, a price-to-earnings ratio of 48.70, a P/E/G ratio of 2.73 and a beta of 1.06. Chipotle Mexican Grill, Inc. has a fifty-two week low of $44.46 and a fifty-two week high of $66.74.

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The restaurant operator reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.01. Chipotle Mexican Grill had a net margin of 13.59% and a return on equity of 43.29%. The firm had revenue of $2.88 billion for the quarter, compared to analyst estimates of $2.98 billion. During the same quarter in the prior year, the business earned $13.37 EPS. The company's revenue for the quarter was up 6.4% compared to the same quarter last year. Equities research analysts expect that Chipotle Mexican Grill, Inc. will post 1.29 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Roger E. Theodoredis sold 113,875 shares of Chipotle Mexican Grill stock in a transaction dated Monday, June 2nd. The stock was 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 now directly owns 109,815 shares in the company, valued at $5,457,805.50. The trade was a 50.91% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.02% of the stock is currently owned by corporate insiders.

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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