Wellington Management Group LLP Sells 1,868,785 Shares of Chipotle Mexican Grill, Inc. $CMG

Key Points

• Wellington Management cut its Chipotle stake by 93.2% in the second quarter, selling 1.87 million shares and retaining 136,590 shares valued at approximately $4.64 million.
• Institutional ownership remains high at 91.3%, with major investors including BlackRock, Capital World Investors, T. Rowe Price, Capital International Investors and Norges Bank holding or adding significant positions.
• Analysts maintain a broadly positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $43.84. Chipotle also slightly exceeded quarterly expectations, reporting $0.33 in EPS and $3.35 billion in revenue.

Wellington Management Group LLP lowered its stake in Chipotle Mexican Grill, Inc. (NYSE:CMG - Free Report) by 93.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 136,590 shares of the restaurant operator's stock after selling 1,868,785 shares during the period. Wellington Management Group LLP's holdings in Chipotle Mexican Grill were worth $4,644,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. bought a new position in Chipotle Mexican Grill in the second quarter valued at about $4,417,475,000. Capital World Investors lifted its position in Chipotle Mexican Grill by 15.8% during the 4th quarter. Capital World Investors now owns 101,688,010 shares of the restaurant operator's stock valued at $3,762,457,000 after purchasing an additional 13,843,222 shares during the period. Price T Rowe Associates Inc. MD lifted its position in Chipotle Mexican Grill by 18.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 58,447,867 shares of the restaurant operator's stock valued at $2,162,572,000 after purchasing an additional 9,237,720 shares during the period. Capital International Investors boosted its stake in shares of Chipotle Mexican Grill by 17.7% in the 4th quarter. Capital International Investors now owns 45,294,212 shares of the restaurant operator's stock valued at $1,675,895,000 after purchasing an additional 6,796,285 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of Chipotle Mexican Grill during the 4th quarter worth approximately $711,837,000. Institutional investors own 91.30% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on CMG shares. JPMorgan Chase & Co. upgraded Chipotle Mexican Grill from a "neutral" rating to an "overweight" rating and dropped their price objective for the company from $38.00 to $35.00 in a report on Friday, June 5th. Argus raised their target price on Chipotle Mexican Grill from $40.00 to $45.00 and gave the stock a "buy" rating in a report on Tuesday, August 4th. Mizuho restated an "outperform" rating and set a $43.00 target price on shares of Chipotle Mexican Grill in a research report on Tuesday, September 1st. UBS Group reaffirmed a "buy" rating on shares of Chipotle Mexican Grill in a research note on Friday, July 31st. Finally, Guggenheim reiterated a "neutral" rating and issued a $36.00 price target (up from $35.00) on shares of Chipotle Mexican Grill in a research report on Friday, July 31st. Twenty-three equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat.com, Chipotle Mexican Grill has a consensus rating of "Moderate Buy" and a consensus target price of $43.84.

Insider Buying and Selling at Chipotle Mexican Grill

In other news, insider Matthew R. Bush sold 2,675 shares of Chipotle Mexican Grill stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $35.75, for a total value of $95,631.25. Following the sale, the insider directly owned 21,415 shares in the company, valued at $765,586.25. This trade represents a 11.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.45% of the stock is owned by corporate insiders.

Chipotle Mexican Grill Trading Down 2.6%

Shares of NYSE CMG opened at $36.01 on Thursday. The company has a fifty day moving average price of $35.08 and a 200 day moving average price of $33.90. The firm has a market cap of $45.56 billion, a PE ratio of 33.03, a PEG ratio of 2.26 and a beta of 0.94. Chipotle Mexican Grill, Inc. has a 1-year low of $28.03 and a 1-year high of $42.81.

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The restaurant operator reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.01. The firm had revenue of $3.35 billion for the quarter, compared to the consensus estimate of $3.33 billion. Chipotle Mexican Grill had a return on equity of 54.65% and a net margin of 11.43%.The company's revenue for the quarter was up 9.3% on a year-over-year basis. During the same quarter last year, the business posted $0.33 EPS. Equities research analysts forecast that Chipotle Mexican Grill, Inc. will post 1.15 EPS for the current year.

Chipotle Mexican Grill Company Profile

Chipotle Mexican Grill, Inc is a fast-casual restaurant company that operates restaurants under the Chipotle Mexican Grill brand. Its menu centers on customizable Mexican-inspired food, including burritos, bowls, tacos and salads, along with sides, beverages and children's meals.

The company emphasizes cooking with responsibly sourced ingredients and preparing food in its restaurants. Customers can order meals in person, through digital ordering channels, for pickup or delivery. Chipotle serves customers primarily in the United States, with additional restaurants in Canada, the United Kingdom, France and Germany.

Chipotle was founded in 1993 by Steve Ells in Denver, Colorado.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.