Magellan Asset Management Ltd Trims Position in Chipotle Mexican Grill, Inc. (NYSE:CMG)

Key Points

• Magellan Asset Management Ltd decreased its position in Chipotle Mexican Grill by 5.3%, holding approximately $237.90 million worth of shares after selling 265,741 shares in the first quarter.
• Shares of Chipotle have seen a 2.9% decline recently and currently have a market cap of $55.61 billion.
• Chipotle reported earnings of $0.33 per share for its last quarter, slightly surpassing analyst expectations and showing a 3% revenue increase compared to the same period last year.

Magellan Asset Management Ltd lowered its holdings in Chipotle Mexican Grill, Inc. (NYSE:CMG - Free Report) by 5.3% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 4,738,045 shares of the restaurant operator's stock after selling 265,741 shares during the quarter. Chipotle Mexican Grill comprises 2.9% of Magellan Asset Management Ltd's investment portfolio, making the stock its 12th biggest holding. Magellan Asset Management Ltd owned about 0.35% of Chipotle Mexican Grill worth $237,897,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Revolve Wealth Partners LLC grew its holdings in Chipotle Mexican Grill by 4.7% in 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 during the last quarter. Csenge Advisory Group boosted its stake in shares of Chipotle Mexican Grill by 5.0% during the first quarter. Csenge Advisory Group now owns 4,603 shares of the restaurant operator's stock valued at $222,000 after acquiring an additional 220 shares during the last quarter. Money Concepts Capital Corp boosted its stake in shares of Chipotle Mexican Grill by 3.0% during the first quarter. Money Concepts Capital Corp now owns 7,491 shares of the restaurant operator's stock valued at $376,000 after acquiring an additional 221 shares during the last quarter. Northwest Bank & Trust Co boosted its stake in shares of Chipotle Mexican Grill by 0.5% during the fourth quarter. Northwest Bank & Trust Co now owns 45,324 shares of the restaurant operator's stock valued at $2,788,000 after acquiring an additional 236 shares during the last quarter. Finally, Covestor Ltd boosted its stake in shares of Chipotle Mexican Grill by 5.3% during the first quarter. Covestor Ltd now owns 4,782 shares of the restaurant operator's stock valued at $240,000 after acquiring an additional 242 shares during the last quarter. Hedge funds and other institutional investors own 91.31% of the company's stock.

Chipotle Mexican Grill Stock Up 0.4%

CMG traded up $0.18 on Monday, hitting $41.62. The company's stock had a trading volume of 17,510,152 shares, compared to its average volume of 21,723,508. The company's 50 day simple moving average is $51.21 and its 200-day simple moving average is $51.57. The firm has a market cap of $55.81 billion, a P/E ratio of 37.16, a price-to-earnings-growth ratio of 2.11 and a beta of 1.05. Chipotle Mexican Grill, Inc. has a 12 month low of $41.18 and a 12 month high of $66.74.

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The restaurant operator reported $0.33 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.32 by $0.01. The company had revenue of $3.06 billion during the quarter, compared to the consensus estimate of $3.11 billion. Chipotle Mexican Grill had a net margin of 13.32% and a return on equity of 43.50%. The firm's revenue was up 3.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.34 EPS. Equities analysts predict that Chipotle Mexican Grill, Inc. will post 1.29 earnings per share for the current fiscal year.

Insider Buying and Selling at Chipotle Mexican Grill

In other news, insider Roger E. Theodoredis sold 113,875 shares of Chipotle Mexican Grill stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $49.70, for a total transaction of $5,659,587.50. Following the sale, 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 position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.02% of the company's stock.

Wall Street Analyst Weigh In

CMG has been the topic of a number of analyst reports. Evercore ISI decreased their price objective on Chipotle Mexican Grill from $64.00 to $57.00 and set an "outperform" rating on the stock in a research note on Thursday, April 24th. Wells Fargo & Company reduced their target price on Chipotle Mexican Grill from $65.00 to $60.00 and set an "overweight" rating on the stock in a research report on Thursday, July 24th. Morgan Stanley reduced their target price on Chipotle Mexican Grill from $67.00 to $65.00 and set an "overweight" rating on the stock in a research report on Thursday, April 24th. Guggenheim lowered their target price on Chipotle Mexican Grill from $47.00 to $46.00 and set a "neutral" rating for the company in a research note on Friday, July 25th. Finally, Royal Bank Of Canada decreased their price target on shares of Chipotle Mexican Grill from $65.00 to $60.00 and set an "outperform" rating for the company in a research report on Thursday, April 24th. Nine research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $60.71.

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.