KBC Group NV Sells 393,806 Shares of Chipotle Mexican Grill, Inc. $CMG

Key Points

• KBC Group NV cut its Chipotle Mexican Grill stake by 58.3% in the first quarter, selling 393,806 shares and leaving it with 281,809 shares worth about $9.02 million.
• Despite the sale, institutional ownership remains high, with about 91.3% of Chipotle’s stock held by institutional investors overall.
• Wall Street sentiment is still generally positive: analysts have a Moderate Buy consensus on CMG, with an average price target of $43.86, while the stock recently traded around $32.28.

KBC Group NV reduced its stake in Chipotle Mexican Grill, Inc. (NYSE:CMG - Free Report) by 58.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 281,809 shares of the restaurant operator's stock after selling 393,806 shares during the quarter. KBC Group NV's holdings in Chipotle Mexican Grill were worth $9,020,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of CMG. Revolve Wealth Partners LLC raised its position in Chipotle Mexican Grill by 4.7% during the fourth quarter. Revolve Wealth Partners LLC now owns 4,804 shares of the restaurant operator's stock valued at $290,000 after purchasing an additional 214 shares in the last quarter. Bison Wealth LLC purchased a new position in shares of Chipotle Mexican Grill in the 4th quarter worth about $224,000. Empowered Funds LLC increased its position in shares of Chipotle Mexican Grill by 5.5% during the 1st quarter. Empowered Funds LLC now owns 26,460 shares of the restaurant operator's stock valued at $1,329,000 after purchasing an additional 1,368 shares during the last quarter. Osterweis Capital Management Inc. raised its holdings in shares of Chipotle Mexican Grill by 7,176.0% during the 2nd quarter. Osterweis Capital Management Inc. now owns 1,819 shares of the restaurant operator's stock valued at $102,000 after buying an additional 1,794 shares in the last quarter. Finally, Ieq Capital LLC raised its holdings in shares of Chipotle Mexican Grill by 88.8% during the 2nd quarter. Ieq Capital LLC now owns 274,375 shares of the restaurant operator's stock valued at $15,406,000 after buying an additional 129,066 shares in the last quarter. 91.30% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on CMG shares. Guggenheim reduced their price target on shares of Chipotle Mexican Grill from $36.00 to $35.00 and set a "neutral" rating on the stock in a research report on Friday, May 1st. TD Cowen restated a "buy" rating and issued a $44.00 price objective on shares of Chipotle Mexican Grill in a report on Thursday, April 30th. Barclays cut their price objective on shares of Chipotle Mexican Grill from $40.00 to $38.00 and set an "equal weight" rating for the company in a research note on Thursday, April 30th. Piper Sandler reduced their target price on shares of Chipotle Mexican Grill from $44.00 to $42.00 and set an "overweight" rating on the stock in a report on Thursday, April 30th. Finally, BNP Paribas Exane lifted their target price on shares of Chipotle Mexican Grill from $37.00 to $39.00 and gave the stock a "neutral" rating in a research report on Thursday, April 30th. Twenty-three equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $43.86.

Chipotle Mexican Grill Price Performance

Shares of Chipotle Mexican Grill stock opened at $32.28 on Thursday. The business's 50 day simple moving average is $32.64 and its two-hundred day simple moving average is $34.80. The stock has a market capitalization of $41.40 billion, a P/E ratio of 29.61, a price-to-earnings-growth ratio of 2.18 and a beta of 0.97. Chipotle Mexican Grill, Inc. has a one year low of $28.03 and a one year high of $53.03.

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) last released its quarterly earnings data on Wednesday, April 29th. The restaurant operator reported $0.24 earnings per share for the quarter, meeting analysts' consensus estimates of $0.24. Chipotle Mexican Grill had a return on equity of 49.64% and a net margin of 11.96%.The firm had revenue of $3.09 billion during the quarter, compared to analyst estimates of $3.07 billion. During the same quarter in the prior year, the firm posted $0.29 earnings per share. The business's quarterly revenue was up 7.4% compared to the same quarter last year. Sell-side analysts expect that Chipotle Mexican Grill, Inc. will post 1.13 earnings per share for the current fiscal year.

Chipotle Mexican Grill Company Profile

Chipotle Mexican Grill is a fast-casual restaurant company known for its Mexican-inspired menu of burritos, bowls, tacos and salads. Founded in 1993 by Steve Ells, the chain emphasizes fresh, customizable meals made from a limited menu of core ingredients and a focus on ingredient quality. Chipotle operates primarily company-owned restaurants and offers dine-in, takeout, catering and delivery through its own digital platforms and third-party partners.

The company is headquartered in Newport Beach, California, and traces its roots to Denver, Colorado.

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