Voya Investment Management LLC Reduces Stock Holdings in Chipotle Mexican Grill, Inc. $CMG

Key Points

• Voya Investment Management LLC sold 1,169,965 shares of Chipotle Mexican Grill, reducing its holdings by 13.0% during the first quarter, bringing its total shares to 7,817,006.
• Chipotle Mexican Grill reported $0.33 EPS for the latest quarter, beating analysts' expectations by $0.01, with a revenue of $3.06 billion, which was slightly below estimates.
• Equities research analysts have mixed opinions on Chipotle, with ratings ranging from Strong Buy to Hold, and an average price target of $59.76.

Voya Investment Management LLC trimmed its stake in Chipotle Mexican Grill, Inc. (NYSE:CMG - Free Report) by 13.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,817,006 shares of the restaurant operator's stock after selling 1,169,965 shares during the period. Voya Investment Management LLC owned approximately 0.58% of Chipotle Mexican Grill worth $392,492,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Nuveen LLC purchased a new position in Chipotle Mexican Grill in the 1st quarter worth approximately $535,023,000. Goldman Sachs Group Inc. lifted its holdings in shares of Chipotle Mexican Grill by 98.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 9,900,521 shares of the restaurant operator's stock worth $497,105,000 after acquiring an additional 4,903,969 shares during the last quarter. Montrusco Bolton Investments Inc. lifted its holdings in shares of Chipotle Mexican Grill by 5,319.7% during the 1st quarter. Montrusco Bolton Investments Inc. now owns 4,848,990 shares of the restaurant operator's stock worth $235,580,000 after acquiring an additional 4,759,520 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in Chipotle Mexican Grill by 7.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 56,827,332 shares of the restaurant operator's stock worth $2,853,302,000 after acquiring an additional 4,027,016 shares in the last quarter. Finally, Manning & Napier Advisors LLC bought a new position in Chipotle Mexican Grill in the first quarter valued at $127,892,000. 91.30% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have issued reports on CMG. Citigroup dropped their price target on Chipotle Mexican Grill from $68.00 to $62.00 and set a "buy" rating for the company in a research note on Thursday, July 24th. Stifel Nicolaus dropped their target price on Chipotle Mexican Grill from $65.00 to $60.00 and set a "buy" rating for the company in a research report on Tuesday, September 9th. BTIG Research reaffirmed a "buy" rating and issued a $57.00 target price on shares of Chipotle Mexican Grill in a research note on Friday, September 5th. JPMorgan Chase & Co. decreased their price target on shares of Chipotle Mexican Grill from $58.00 to $54.00 and set a "neutral" rating on the stock in a research note on Thursday, May 29th. Finally, Raymond James Financial lowered their price objective on shares of Chipotle Mexican Grill from $60.00 to $56.00 and set an "outperform" rating for the company in a report on Friday, August 15th. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $59.76.

Chipotle Mexican Grill Stock Performance

Shares of NYSE CMG traded down $0.31 during mid-day trading on Friday, hitting $38.65. The stock had a trading volume of 22,287,567 shares, compared to its average volume of 17,157,708. Chipotle Mexican Grill, Inc. has a 1 year low of $38.30 and a 1 year high of $66.74. The business has a 50 day moving average price of $45.54 and a two-hundred day moving average price of $49.08. The firm has a market cap of $51.83 billion, a P/E ratio of 34.51, a price-to-earnings-growth ratio of 1.97 and a beta of 1.02.

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The restaurant operator reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.01. The business had revenue of $3.06 billion during the quarter, compared to analysts' expectations 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 for the quarter was up 3.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.34 EPS. Equities research analysts predict that Chipotle Mexican Grill, Inc. will post 1.29 EPS for the current fiscal year.

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.