Patten Group Inc. Has $1.78 Million Stock Position in Chipotle Mexican Grill, Inc. $CMG

Patten Group Inc. trimmed its holdings in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG) by 11.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 31,636 shares of the restaurant operator’s stock after selling 4,101 shares during the period. Patten Group Inc.’s holdings in Chipotle Mexican Grill were worth $1,776,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the business. Vanguard Group Inc. raised its position in Chipotle Mexican Grill by 1.3% during the first quarter. Vanguard Group Inc. now owns 122,463,327 shares of the restaurant operator’s stock valued at $6,148,884,000 after buying an additional 1,597,287 shares during the period. Price T Rowe Associates Inc. MD raised its position in Chipotle Mexican Grill by 7.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 56,827,332 shares of the restaurant operator’s stock valued at $2,853,302,000 after buying an additional 4,027,016 shares during the period. Alliancebernstein L.P. increased its position in Chipotle Mexican Grill by 8.0% in the 1st quarter. Alliancebernstein L.P. now owns 32,505,318 shares of the restaurant operator’s stock worth $1,632,092,000 after purchasing an additional 2,404,798 shares during the last quarter. American Century Companies Inc. increased its position in Chipotle Mexican Grill by 2.1% in the 1st quarter. American Century Companies Inc. now owns 20,662,628 shares of the restaurant operator’s stock worth $1,037,471,000 after purchasing an additional 425,648 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Chipotle Mexican Grill by 8.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 11,111,416 shares of the restaurant operator’s stock worth $557,904,000 after purchasing an additional 833,760 shares during the last quarter. 91.30% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have weighed in on CMG. BMO Capital Markets raised Chipotle Mexican Grill from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $56.00 to $65.00 in a research report on Friday, July 18th. Rothschild & Co Redburn raised Chipotle Mexican Grill from a “neutral” rating to a “buy” rating and set a $55.00 target price on the stock in a research report on Wednesday, September 3rd. Rothschild Redb raised Chipotle Mexican Grill from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, September 3rd. Citigroup dropped their target price on Chipotle Mexican Grill from $68.00 to $62.00 and set a “buy” rating on the stock in a research report on Thursday, July 24th. Finally, KeyCorp dropped their target price on Chipotle Mexican Grill from $58.00 to $52.00 and set an “overweight” rating on the stock in a research report on Monday. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $57.03.

Chipotle Mexican Grill Stock Performance

CMG opened at $42.37 on Wednesday. The company has a market cap of $56.81 billion, a PE ratio of 37.83, a price-to-earnings-growth ratio of 2.52 and a beta of 0.99. The stock has a 50-day moving average of $41.10 and a 200-day moving average of $47.22. Chipotle Mexican Grill, Inc. has a 52-week low of $38.30 and a 52-week high of $66.74.

Chipotle Mexican Grill (NYSE:CMG) last released its quarterly earnings results on Wednesday, July 23rd. The restaurant operator reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.01. The company had revenue of $3.06 billion during the quarter, compared to the consensus estimate of $3.11 billion. Chipotle Mexican Grill had a return on equity of 43.50% and a net margin of 13.32%.The firm’s revenue was up 3.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.34 EPS. On average, research analysts predict that Chipotle Mexican Grill, Inc. will post 1.29 earnings per share for the current year.

Chipotle Mexican Grill 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.