TD Asset Management Inc Grows Position in Chipotle Mexican Grill, Inc. $CMG

Key Points

• TD Asset Management increased its Chipotle stake by 139.3% in the fourth quarter, ending with 3,989,230 shares valued at about $147.6 million.
• Several other major institutions also boosted or initiated positions, and 91.3% of Chipotle’s stock is now owned by hedge funds and other institutional investors.
• Sentiment around CMG has weakened: Morgan Stanley downgraded the stock to Equal-weight, shares hit a new 52-week low, and options activity showed a bearish tilt.

TD Asset Management Inc raised its position in Chipotle Mexican Grill, Inc. (NYSE:CMG - Free Report) by 139.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,989,230 shares of the restaurant operator's stock after purchasing an additional 2,322,235 shares during the quarter. TD Asset Management Inc owned 0.31% of Chipotle Mexican Grill worth $147,602,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Capital World Investors raised its holdings in shares of Chipotle Mexican Grill by 122.7% during the 3rd quarter. Capital World Investors now owns 87,844,788 shares of the restaurant operator's stock valued at $3,442,645,000 after buying an additional 48,398,628 shares during the period. Norges Bank purchased a new stake in shares of Chipotle Mexican Grill during the 4th quarter valued at about $711,837,000. Vanguard Group Inc. raised its holdings in shares of Chipotle Mexican Grill by 14.8% during the 4th quarter. Vanguard Group Inc. now owns 144,588,220 shares of the restaurant operator's stock valued at $5,349,764,000 after buying an additional 18,660,882 shares during the period. Capital International Investors raised its holdings in shares of Chipotle Mexican Grill by 42.4% during the 3rd quarter. Capital International Investors now owns 38,497,927 shares of the restaurant operator's stock valued at $1,509,043,000 after buying an additional 11,471,658 shares during the period. Finally, Arrowstreet Capital Limited Partnership raised its holdings in shares of Chipotle Mexican Grill by 24.7% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 11,433,637 shares of the restaurant operator's stock valued at $448,084,000 after buying an additional 2,265,122 shares during the period. 91.30% of the stock is currently owned by hedge funds and other institutional investors.

Key Headlines Impacting Chipotle Mexican Grill

Here are the key news stories impacting Chipotle Mexican Grill this week:

• Negative Sentiment: Morgan Stanley downgraded Chipotle to Equal-weight, saying its growth outlook is less attractive than peers and that the company’s sales drivers are unlikely to improve quickly. Morgan Stanley backs Yum Brands, cuts Chipotle rating as growth outlook diverges
• Negative Sentiment: Chipotle hit a new 52-week low as investors continued to sell on consumer-spending headwinds and broader macro pressure. Macro Pressures Drive Chipotle Stock To A New 52-Week Low
• Negative Sentiment: Traders showed a bearish bias in options activity, with put volume more than doubling its typical level, suggesting expectations for more downside or hedging demand.

Chipotle Mexican Grill Stock Down 2.4%

Shares of NYSE CMG opened at $28.05 on Friday. Chipotle Mexican Grill, Inc. has a fifty-two week low of $28.03 and a fifty-two week high of $58.42. The business has a 50 day moving average price of $32.93 and a two-hundred day moving average price of $35.24. The firm has a market cap of $35.98 billion, a PE ratio of 25.74, a price-to-earnings-growth ratio of 1.85 and a beta of 0.99.

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) last issued 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 last year, the firm earned $0.29 EPS. Chipotle Mexican Grill's quarterly revenue was up 7.4% on a year-over-year basis. On average, analysts anticipate that Chipotle Mexican Grill, Inc. will post 1.13 earnings per share for the current year.

Wall Street Analyst Weigh In

CMG has been the topic of several analyst reports. Morgan Stanley set a $37.00 target price on Chipotle Mexican Grill and gave the company an "equal weight" rating in a report on Wednesday. BNP Paribas Exane raised their target price on Chipotle Mexican Grill from $37.00 to $39.00 and gave the company a "neutral" rating in a report on Thursday, April 30th. DA Davidson initiated coverage on Chipotle Mexican Grill in a report on Friday, March 6th. They set a "buy" rating and a $51.00 target price on the stock. Argus upgraded Chipotle Mexican Grill from a "hold" rating to a "buy" rating and set a $40.00 target price on the stock in a report on Tuesday, May 5th. Finally, Raymond James Financial dropped their target price on Chipotle Mexican Grill from $43.00 to $41.00 and set an "outperform" rating on the stock in a report on Tuesday, April 21st. Twenty-three research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Chipotle Mexican Grill has an average rating of "Moderate Buy" and a consensus target price of $45.65.

About Chipotle Mexican Grill

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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