Magellan Asset Management Ltd Sells 826,005 Shares of Chipotle Mexican Grill, Inc. $CMG

Magellan Asset Management Ltd trimmed its position in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG) by 17.1% during the 4th quarter, HoldingsChannel.com reports. The firm owned 4,001,695 shares of the restaurant operator’s stock after selling 826,005 shares during the period. Chipotle Mexican Grill makes up about 1.8% of Magellan Asset Management Ltd’s holdings, making the stock its 24th biggest holding. Magellan Asset Management Ltd’s holdings in Chipotle Mexican Grill were worth $148,063,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of CMG. Revolve Wealth Partners LLC grew its position in Chipotle Mexican Grill by 4.7% during the 4th quarter. Revolve Wealth Partners LLC now owns 4,804 shares of the restaurant operator’s stock valued at $290,000 after purchasing an additional 214 shares during the last quarter. Bison Wealth LLC purchased a new stake in Chipotle Mexican Grill during the 4th quarter valued at about $224,000. Empowered Funds LLC grew its position in Chipotle Mexican Grill by 5.5% during the 1st quarter. Empowered Funds LLC now owns 26,460 shares of the restaurant operator’s stock valued at $1,329,000 after purchasing an additional 1,368 shares during the last quarter. Osterweis Capital Management Inc. grew its position in Chipotle Mexican Grill by 7,176.0% during the 2nd quarter. Osterweis Capital Management Inc. now owns 1,819 shares of the restaurant operator’s stock valued at $102,000 after purchasing an additional 1,794 shares during the last quarter. Finally, Ieq Capital LLC grew its position in Chipotle Mexican Grill by 88.8% during the 2nd quarter. Ieq Capital LLC now owns 274,375 shares of the restaurant operator’s stock valued at $15,406,000 after purchasing an additional 129,066 shares during the last quarter. 91.30% of the stock is owned by hedge funds and other institutional investors.

Key Headlines Impacting Chipotle Mexican Grill

Here are the key news stories impacting Chipotle Mexican Grill this week:

• Negative Sentiment: Morgan Stanley downgraded Chipotle to Equal-weight, saying its growth outlook is less attractive than peers and that the company’s sales drivers are unlikely to improve quickly. Morgan Stanley backs Yum Brands, cuts Chipotle rating as growth outlook diverges
• Negative Sentiment: Chipotle hit a new 52-week low as investors continued to sell on consumer-spending headwinds and broader macro pressure. Macro Pressures Drive Chipotle Stock To A New 52-Week Low
• Negative Sentiment: Traders showed a bearish bias in options activity, with put volume more than doubling its typical level, suggesting expectations for more downside or hedging demand.

Chipotle Mexican Grill Stock Down 2.4%

Shares of NYSE CMG opened at $28.05 on Friday. The firm’s 50-day moving average price is $32.93 and its 200-day moving average price is $35.24. The company has a market cap of $35.98 billion, a PE ratio of 25.74, a PEG ratio of 1.85 and a beta of 0.99. Chipotle Mexican Grill, Inc. has a 52-week low of $28.03 and a 52-week high of $58.42.

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

Analyst Upgrades and Downgrades

CMG has been the topic of several recent analyst reports. Citigroup increased their price objective on shares of Chipotle Mexican Grill from $44.00 to $46.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. DA Davidson started coverage on shares of Chipotle Mexican Grill in a research report on Friday, March 6th. They set a “buy” rating and a $51.00 price objective on the stock. Weiss Ratings downgraded shares of Chipotle Mexican Grill from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, May 20th. Wall Street Zen raised shares of Chipotle Mexican Grill from a “sell” rating to a “hold” rating in a report on Saturday, March 7th. Finally, Zacks Research raised shares of Chipotle Mexican Grill from a “strong sell” rating to a “hold” rating in a report on Friday, April 17th. Twenty-three investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $45.65.

Chipotle Mexican Grill 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.