Pinnacle Associates Ltd. Has $1.85 Million Stake in Chipotle Mexican Grill, Inc. $CMG

Pinnacle Associates Ltd. reduced its stake in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG) by 31.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 49,925 shares of the restaurant operator’s stock after selling 22,442 shares during the period. Pinnacle Associates Ltd.’s holdings in Chipotle Mexican Grill were worth $1,847,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Revolve Wealth Partners LLC lifted its holdings in shares of Chipotle Mexican Grill by 4.7% in the 4th quarter. Revolve Wealth Partners LLC now owns 4,804 shares of the restaurant operator’s stock valued at $290,000 after buying an additional 214 shares during the period. Centurion Wealth Management LLC grew its holdings in Chipotle Mexican Grill by 3.1% during the fourth quarter. Centurion Wealth Management LLC now owns 8,713 shares of the restaurant operator’s stock worth $322,000 after acquiring an additional 260 shares during the period. City State Bank raised its position in Chipotle Mexican Grill by 13.4% in the fourth quarter. City State Bank now owns 2,330 shares of the restaurant operator’s stock worth $86,000 after acquiring an additional 275 shares in the last quarter. Cromwell Holdings LLC raised its position in Chipotle Mexican Grill by 7.4% in the fourth quarter. Cromwell Holdings LLC now owns 4,295 shares of the restaurant operator’s stock worth $159,000 after acquiring an additional 295 shares in the last quarter. Finally, Catalyst Financial Partners LLC lifted its holdings in Chipotle Mexican Grill by 4.6% in the fourth quarter. Catalyst Financial Partners LLC now owns 6,763 shares of the restaurant operator’s stock valued at $250,000 after acquiring an additional 298 shares during the period. Institutional investors own 91.30% of the company’s stock.

Analyst Ratings Changes

CMG has been the topic of a number of recent analyst reports. Guggenheim lowered their price target on shares of Chipotle Mexican Grill from $36.00 to $35.00 and set a “neutral” rating on the stock in a research note on Friday, May 1st. Raymond James Financial reduced their price objective on shares of Chipotle Mexican Grill from $43.00 to $41.00 and set an “outperform” rating for the company in a research note on Tuesday, April 21st. Citigroup boosted their price objective on shares of Chipotle Mexican Grill from $44.00 to $46.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. Stephens upped their target price on shares of Chipotle Mexican Grill from $38.00 to $39.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 30th. Finally, UBS Group reiterated a “buy” rating on shares of Chipotle Mexican Grill in a research report on Monday, January 26th. Twenty-four equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $46.03.

Chipotle Mexican Grill Trading Up 1.6%

Shares of NYSE CMG opened at $32.59 on Friday. The company’s 50-day moving average price is $33.54 and its 200 day moving average price is $35.36. Chipotle Mexican Grill, Inc. has a 52 week low of $29.75 and a 52 week high of $58.42. The stock has a market cap of $41.81 billion, a price-to-earnings ratio of 29.90, a PEG ratio of 2.10 and a beta of 1.03.

Chipotle Mexican Grill (NYSE:CMG) last announced its earnings results on Wednesday, April 29th. The restaurant operator reported $0.24 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.24. The company had revenue of $3.09 billion during the quarter, compared to analysts’ expectations of $3.07 billion. Chipotle Mexican Grill had a net margin of 11.96% and a return on equity of 49.64%. The firm’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.29 earnings per share. As a group, research analysts expect that Chipotle Mexican Grill, Inc. will post 1.13 earnings per share for the current year.

Chipotle Mexican Grill Company Profile

Chipotle Mexican Grill is a fast-casual restaurant company known for its Mexican-inspired menu of burritos, bowls, tacos and salads. Founded in 1993 by Steve Ells, the chain emphasizes fresh, customizable meals made from a limited menu of core ingredients and a focus on ingredient quality. Chipotle operates primarily company-owned restaurants and offers dine-in, takeout, catering and delivery through its own digital platforms and third-party partners.

The company is headquartered in Newport Beach, California, and traces its roots to Denver, Colorado.