Chipotle Mexican Grill, Inc. $CMG Stock: Lockheed Martin Investment Management Co. Cuts Position

Lockheed Martin Investment Management Co. lessened its stake in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG) by 31.5% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 146,790 shares of the restaurant operator’s stock after selling 67,620 shares during the period. Lockheed Martin Investment Management Co.’s holdings in Chipotle Mexican Grill were worth $4,690,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in CMG. BlackRock Inc. bought a new stake in Chipotle Mexican Grill in the second quarter worth $4,417,475,000. Arrowstreet Capital Limited Partnership increased its holdings in shares of Chipotle Mexican Grill by 19.8% during the first quarter. Arrowstreet Capital Limited Partnership now owns 16,478,248 shares of the restaurant operator’s stock valued at $527,469,000 after acquiring an additional 2,727,762 shares in the last quarter. Amundi increased its holdings in shares of Chipotle Mexican Grill by 23.3% during the first quarter. Amundi now owns 11,980,192 shares of the restaurant operator’s stock valued at $383,486,000 after acquiring an additional 2,266,087 shares in the last quarter. Bank of America Corp DE increased its holdings in shares of Chipotle Mexican Grill by 86.1% during the first quarter. Bank of America Corp DE now owns 11,973,752 shares of the restaurant operator’s stock valued at $383,280,000 after acquiring an additional 5,541,385 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Chipotle Mexican Grill by 30.6% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,845,627 shares of the restaurant operator’s stock worth $368,751,000 after purchasing an additional 2,541,795 shares during the last quarter. Hedge funds and other institutional investors own 91.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on CMG shares. Stephens reiterated an “equal weight” rating and issued a $38.00 price target on shares of Chipotle Mexican Grill in a research note on Thursday, October 29th. Evercore restated an “outperform” rating and set a $47.00 price objective (up from $45.00) on shares of Chipotle Mexican Grill in a research note on Thursday, July 30th. Robert W. Baird decreased their target price on shares of Chipotle Mexican Grill from $40.00 to $35.00 and set a “neutral” rating for the company in a report on Friday, October 2nd. Argus upped their target price on shares of Chipotle Mexican Grill from $40.00 to $45.00 and gave the stock a “buy” rating in a research note on Tuesday, August 4th. Finally, Morgan Stanley upped their target price on shares of Chipotle Mexican Grill from $39.00 to $40.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 15th. Twenty-seven analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $42.36.

Chipotle Mexican Grill Stock Up 3.7%

Shares of CMG stock opened at $35.72 on Tuesday. The company has a 50 day moving average price of $32.70 and a 200-day moving average price of $33.96. Chipotle Mexican Grill, Inc. has a 52 week low of $27.31 and a 52 week high of $41.42. The firm has a market capitalization of $45.18 billion, a PE ratio of 32.29, a P/E/G ratio of 2.32 and a beta of 1.00.

Chipotle Mexican Grill (NYSE:CMG) last issued its quarterly earnings data on Wednesday, October 28th. The restaurant operator reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.02). Chipotle Mexican Grill had a net margin of 10.83% and a return on equity of 57.05%. The company had revenue of $3.29 billion for the quarter, compared to the consensus estimate of $3.29 billion. During the same quarter last year, the company earned $0.29 EPS. The firm’s revenue for the quarter was up 9.6% on a year-over-year basis. Analysts anticipate that Chipotle Mexican Grill, Inc. will post 1.10 earnings per share for the current year.

Insider Activity

In other news, insider Matthew R. Bush sold 2,675 shares of the firm’s stock in a transaction on Friday, August 21st. The stock was sold at an average price of $35.75, for a total value of $95,631.25. Following the transaction, the insider directly owned 21,415 shares in the company, valued at $765,586.25. This trade represents a 11.10% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.45% of the stock is currently owned by company insiders.

Chipotle Mexican Grill Profile

Chipotle Mexican Grill is a fast-casual restaurant company that serves Mexican-inspired food, including burritos, bowls, tacos and salads. Customers can customize meals with ingredients such as rice, beans, meats, vegetables, salsas and guacamole.

Founded by Steve Ells in Denver, Colorado, in 1993, Chipotle built its business around preparing food in restaurant kitchens and emphasizing ingredients it describes as responsibly sourced. The company primarily operates its own restaurants, rather than relying on a franchise model.

Chipotle serves customers in the United States and select international markets, including Canada and the United Kingdom.