Fred Alger Management LLC Grows Position in Chipotle Mexican Grill, Inc. (NYSE:CMG)

Fred Alger Management LLC increased its stake in Chipotle Mexican Grill, Inc. (NYSE:CMG - Free Report) by 8.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 209,012 shares of the restaurant operator's stock after buying an additional 15,815 shares during the period. Fred Alger Management LLC's holdings in Chipotle Mexican Grill were worth $12,603,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. Alliancebernstein L.P. grew its holdings in Chipotle Mexican Grill by 29.5% during the 4th quarter. Alliancebernstein L.P. now owns 30,100,520 shares of the restaurant operator's stock worth $1,815,061,000 after acquiring an additional 6,853,470 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Chipotle Mexican Grill by 1.4% in the 4th quarter. Geode Capital Management LLC now owns 28,476,031 shares of the restaurant operator's stock worth $1,712,238,000 after purchasing an additional 395,053 shares during the period. American Century Companies Inc. lifted its position in shares of Chipotle Mexican Grill by 0.8% in the 4th quarter. American Century Companies Inc. now owns 20,236,980 shares of the restaurant operator's stock worth $1,220,290,000 after purchasing an additional 166,767 shares during the period. Norges Bank bought a new position in shares of Chipotle Mexican Grill during the fourth quarter valued at approximately $1,093,345,000. Finally, Northern Trust Corp increased its holdings in Chipotle Mexican Grill by 11.1% during the fourth quarter. Northern Trust Corp now owns 14,443,085 shares of the restaurant operator's stock valued at $870,918,000 after buying an additional 1,438,860 shares during the period. Hedge funds and other institutional investors own 91.31% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CMG. Royal Bank of Canada lowered their target price on Chipotle Mexican Grill from $65.00 to $60.00 and set an "outperform" rating for the company in a report on Thursday, April 24th. Citigroup decreased their price objective on Chipotle Mexican Grill from $70.00 to $62.00 and set a "buy" rating for the company in a research note on Wednesday, April 2nd. Truist Financial dropped their price objective on Chipotle Mexican Grill from $74.00 to $61.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. Wells Fargo & Company cut their target price on Chipotle Mexican Grill from $70.00 to $60.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 22nd. Finally, Raymond James reduced their target price on shares of Chipotle Mexican Grill from $72.00 to $69.00 and set an "outperform" rating for the company in a report on Tuesday, January 28th. 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 company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $61.74.

Chipotle Mexican Grill Stock Performance

NYSE CMG traded down $1.68 during trading hours on Friday, reaching $49.77. The stock had a trading volume of 16,053,658 shares, compared to its average volume of 13,510,594. The stock has a fifty day moving average of $49.67 and a 200 day moving average of $55.66. The stock has a market cap of $67.06 billion, a P/E ratio of 44.83, a price-to-earnings-growth ratio of 2.04 and a beta of 1.11. Chipotle Mexican Grill, Inc. has a 52-week low of $44.46 and a 52-week high of $69.26.

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The restaurant operator reported $0.29 EPS for the quarter, beating analysts' consensus estimates of $0.28 by $0.01. The firm had revenue of $2.88 billion for the quarter, compared to analyst estimates of $2.98 billion. Chipotle Mexican Grill had a return on equity of 42.92% and a net margin of 13.56%. Chipotle Mexican Grill's revenue for the quarter was up 6.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $13.37 earnings per share. On average, equities research analysts forecast that Chipotle Mexican Grill, Inc. will post 1.29 EPS for the current 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.