Panagora Asset Management Inc. reduced its holdings in Chipotle Mexican Grill, Inc. (NYSE:CMG) by 16.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,082 shares of the restaurant operator’s stock after selling 397 shares during the quarter. Panagora Asset Management Inc.’s holdings in Chipotle Mexican Grill were worth $1,526,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. FMR LLC lifted its holdings in shares of Chipotle Mexican Grill by 88.7% during the 1st quarter. FMR LLC now owns 1,143,585 shares of the restaurant operator’s stock worth $812,301,000 after acquiring an additional 537,677 shares during the period. Jennison Associates LLC increased its position in Chipotle Mexican Grill by 7.6% during the second quarter. Jennison Associates LLC now owns 927,804 shares of the restaurant operator’s stock worth $679,969,000 after purchasing an additional 65,485 shares during the last quarter. Geode Capital Management LLC raised its stake in Chipotle Mexican Grill by 9.6% during the fourth quarter. Geode Capital Management LLC now owns 309,980 shares of the restaurant operator’s stock worth $133,605,000 after purchasing an additional 27,247 shares during the period. Wells Fargo & Company MN raised its stake in Chipotle Mexican Grill by 6.4% during the second quarter. Wells Fargo & Company MN now owns 247,933 shares of the restaurant operator’s stock worth $181,706,000 after purchasing an additional 14,817 shares during the period. Finally, Investec Asset Management LTD boosted its holdings in shares of Chipotle Mexican Grill by 2.2% in the 2nd quarter. Investec Asset Management LTD now owns 137,783 shares of the restaurant operator’s stock valued at $100,978,000 after purchasing an additional 3,009 shares during the last quarter. Hedge funds and other institutional investors own 92.04% of the company’s stock.

In related news, insider Steve Ells sold 28,645 shares of the business’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $802.66, for a total value of $22,992,195.70. Following the transaction, the insider now owns 183,580 shares in the company, valued at $147,352,322.80. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Scott Boatwright sold 1,805 shares of the stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $740.22, for a total value of $1,336,097.10. Following the completion of the transaction, the insider now directly owns 8,869 shares of the company’s stock, valued at approximately $6,565,011.18. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 159,700 shares of company stock valued at $122,057,489. Company insiders own 2.21% of the company’s stock.

Several brokerages have recently issued reports on CMG. Citigroup boosted their price objective on shares of Chipotle Mexican Grill from $695.00 to $797.00 and gave the company a “buy” rating in a research note on Thursday, June 6th. BTIG Research increased their target price on Chipotle Mexican Grill from $790.00 to $845.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. They noted that the move was a valuation call. Wedbush upgraded Chipotle Mexican Grill from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $780.00 to $980.00 in a report on Monday. Telsey Advisory Group reiterated a “market perform” rating and issued a $750.00 target price (up previously from $700.00) on shares of Chipotle Mexican Grill in a report on Wednesday, July 24th. Finally, KeyCorp boosted their price target on Chipotle Mexican Grill from $780.00 to $860.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Seven investment analysts have rated the stock with a sell rating, twelve have given a hold rating and sixteen have assigned a buy rating to the company’s stock. Chipotle Mexican Grill presently has an average rating of “Hold” and a consensus target price of $709.58.

NYSE CMG traded up $9.23 on Wednesday, reaching $797.21. The company had a trading volume of 284,998 shares, compared to its average volume of 331,485. The firm has a market capitalization of $23.28 billion, a PE ratio of 87.99, a P/E/G ratio of 3.35 and a beta of 0.71. Chipotle Mexican Grill, Inc. has a 1 year low of $383.20 and a 1 year high of $857.90. The firm has a 50-day moving average of $811.02 and a 200-day moving average of $723.40. The company has a debt-to-equity ratio of 1.65, a current ratio of 1.52 and a quick ratio of 1.48.

Chipotle Mexican Grill (NYSE:CMG) last posted its quarterly earnings data on Tuesday, July 23rd. The restaurant operator reported $3.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.68 by $0.31. Chipotle Mexican Grill had a net margin of 4.80% and a return on equity of 21.50%. The company had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.41 billion. During the same quarter last year, the firm posted $2.87 earnings per share. The business’s quarterly revenue was up 13.2% on a year-over-year basis. As a group, sell-side analysts expect that Chipotle Mexican Grill, Inc. will post 13.36 EPS for the current fiscal year.

Chipotle Mexican Grill Company Profile

Chipotle Mexican Grill, Inc, together with its subsidiaries, operates Chipotle Mexican Grill restaurants. As of December 31, 2018, it operated 2,491 restaurants, including 2,452 Chipotle restaurants in the United States, 37 Chipotle restaurants internationally, and two non-Chipotle restaurants. The company was founded in 1993 and is headquartered in Newport Beach, California.

Further Reading: Price-Sales Ratio

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Institutional Ownership by Quarter for Chipotle Mexican Grill (NYSE:CMG)

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