Wellington Management Group LLP Sells 3,935,660 Shares of Chipotle Mexican Grill, Inc. $CMG

Key Points

• Wellington Management Group LLP has reduced its stake in Chipotle Mexican Grill by 27.0%, selling 3,935,660 shares and owning approximately 10.6 million shares worth $533.8 million at the end of the reporting period.
• Several institutional investors, including Vanguard Group and American Century Companies, have increased their positions in Chipotle, with institutional ownership now at 91.30%.
• Chipotle's stock recently opened at $43.38, experiencing a 1.5% decline, and it reported earnings of $0.33 per share for the last quarter, slightly above expectations.

Wellington Management Group LLP lowered its position in Chipotle Mexican Grill, Inc. (NYSE:CMG - Free Report) by 27.0% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 10,631,763 shares of the restaurant operator's stock after selling 3,935,660 shares during the period. Wellington Management Group LLP owned about 0.79% of Chipotle Mexican Grill worth $533,821,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Cloud Capital Management LLC bought a new stake in shares of Chipotle Mexican Grill during the first quarter valued at approximately $25,000. HighMark Wealth Management LLC lifted its stake in Chipotle Mexican Grill by 173.4% in the 1st quarter. HighMark Wealth Management LLC now owns 585 shares of the restaurant operator's stock worth $29,000 after purchasing an additional 371 shares in the last quarter. North Capital Inc. purchased a new stake in Chipotle Mexican Grill in the 1st quarter worth $30,000. ORG Wealth Partners LLC purchased a new stake in Chipotle Mexican Grill in the 1st quarter worth $31,000. Finally, Mascagni Wealth Management Inc. purchased a new stake in Chipotle Mexican Grill in the 4th quarter worth $45,000. Institutional investors own 91.30% of the company's stock.

Analyst Ratings Changes

CMG has been the topic of several research analyst reports. Truist Financial decreased their price target on shares of Chipotle Mexican Grill from $64.00 to $60.00 and set a "buy" rating on the stock in a research note on Friday, July 25th. Melius initiated coverage on shares of Chipotle Mexican Grill in a research note on Monday, July 14th. They issued a "hold" rating and a $60.00 price target on the stock. BMO Capital Markets upgraded shares of Chipotle Mexican Grill from a "market perform" rating to an "outperform" rating and boosted their price target for the stock from $56.00 to $65.00 in a research note on Friday, July 18th. Redburn Atlantic started coverage on shares of Chipotle Mexican Grill in a report on Tuesday, June 10th. They issued a "neutral" rating and a $55.00 target price on the stock. Finally, Citigroup reduced their target price on shares of Chipotle Mexican Grill from $68.00 to $62.00 and set a "buy" rating on the stock in a report on Thursday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $60.22.

Chipotle Mexican Grill Trading Up 1.7%

Shares of CMG stock traded up $0.7450 during trading hours on Friday, reaching $43.6550. 7,686,685 shares of the stock were exchanged, compared to its average volume of 14,170,991. Chipotle Mexican Grill, Inc. has a 12-month low of $41.18 and a 12-month high of $66.74. The company's 50-day moving average price is $49.73 and its 200-day moving average price is $50.73. The firm has a market capitalization of $58.54 billion, a price-to-earnings ratio of 38.97, a price-to-earnings-growth ratio of 2.19 and a beta of 1.05.

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

Insider Transactions at Chipotle Mexican Grill

In other Chipotle Mexican Grill news, insider Roger E. Theodoredis sold 113,875 shares of the business's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $49.70, for a total value of $5,659,587.50. Following the completion of the sale, the insider directly owned 109,815 shares of the company's stock, valued at $5,457,805.50. The trade was a 50.91% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.81% of the stock is currently owned by company insiders.

About Chipotle Mexican Grill

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.