Tocqueville Asset Management L.P. Sells 2,376 Shares of Chipotle Mexican Grill, Inc. (CMG)
Tocqueville Asset Management L.P. cut its holdings in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG) by 5.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 37,675 shares of the restaurant operator’s stock after selling 2,376 shares during the period. Tocqueville Asset Management L.P. owned approximately 0.14% of Chipotle Mexican Grill worth $17,124,000 at the end of the most recent reporting period.
Several other large investors have also bought and sold shares of CMG. Wedbush Securities Inc. grew its position in Chipotle Mexican Grill by 24.2% in the 3rd quarter. Wedbush Securities Inc. now owns 626 shares of the restaurant operator’s stock worth $285,000 after purchasing an additional 122 shares in the last quarter. Renaissance Technologies LLC grew its position in Chipotle Mexican Grill by 255.0% in the 3rd quarter. Renaissance Technologies LLC now owns 792,000 shares of the restaurant operator’s stock worth $359,980,000 after purchasing an additional 568,900 shares in the last quarter. Riverhead Capital Management LLC grew its position in Chipotle Mexican Grill by 31.0% in the 3rd quarter. Riverhead Capital Management LLC now owns 1,480 shares of the restaurant operator’s stock worth $673,000 after purchasing an additional 350 shares in the last quarter. Kepos Capital LP bought a new stake in Chipotle Mexican Grill in the 3rd quarter worth about $3,771,000. Finally, GAM Holding AG bought a new stake in Chipotle Mexican Grill in the 3rd quarter worth about $426,000. 91.40% of the stock is owned by institutional investors.
A number of equities research analysts have issued reports on the stock. Canaccord Genuity reaffirmed a “hold” rating on shares of Chipotle Mexican Grill in a research report on Wednesday, November 14th. Citigroup reduced their price objective on shares of Chipotle Mexican Grill from $573.00 to $527.00 and set a “buy” rating for the company in a research report on Tuesday, October 30th. TheStreet downgraded shares of Chipotle Mexican Grill from a “b-” rating to a “c” rating in a research report on Thursday, October 25th. Wells Fargo & Co upped their price objective on shares of Chipotle Mexican Grill from $415.00 to $420.00 and gave the stock a “market perform” rating in a research report on Friday, October 26th. Finally, Barclays upped their price objective on shares of Chipotle Mexican Grill from $360.00 to $400.00 and gave the stock an “equal weight” rating in a research report on Friday, October 26th. Nine research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and fourteen have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $431.72.
Chipotle Mexican Grill (NYSE:CMG) last announced its quarterly earnings results on Thursday, October 25th. The restaurant operator reported $2.16 EPS for the quarter, beating the Zacks’ consensus estimate of $2.00 by $0.16. The company had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.23 billion. Chipotle Mexican Grill had a net margin of 3.96% and a return on equity of 17.14%. As a group, research analysts predict that Chipotle Mexican Grill, Inc. will post 8.47 earnings per share for the current fiscal year.
In related news, Director Pershing Square Capital Manage sold 118,307 shares of the company’s stock in a transaction that occurred on Tuesday, November 6th. The shares were sold at an average price of $472.05, for a total transaction of $55,846,819.35. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 2.19% of the company’s stock.
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Chipotle Mexican Grill Company Profile
Chipotle Mexican Grill, Inc, together with its subsidiaries, operates Chipotle Mexican Grill restaurants. As of September 30, 2018, it operated 2,424 Chipotle restaurants in the United States, as well as 37 international Chipotle restaurants. The company was founded in 1993 and is headquartered in Newport Beach, California.
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