Rhumbline Advisers Trims Stake in Chipotle Mexican Grill, Inc. (CMG)

Rhumbline Advisers trimmed its position in Chipotle Mexican Grill, Inc. (NYSE:CMG) by 0.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 48,109 shares of the restaurant operator’s stock after selling 395 shares during the quarter. Rhumbline Advisers owned about 0.17% of Chipotle Mexican Grill worth $21,867,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of CMG. Jennison Associates LLC bought a new stake in shares of Chipotle Mexican Grill in the second quarter worth about $156,768,000. Massachusetts Financial Services Co. MA bought a new stake in shares of Chipotle Mexican Grill in the third quarter worth about $69,452,000. FMR LLC increased its holdings in shares of Chipotle Mexican Grill by 10.2% in the second quarter. FMR LLC now owns 1,620,408 shares of the restaurant operator’s stock worth $698,995,000 after purchasing an additional 149,725 shares during the last quarter. Wells Fargo & Company MN increased its holdings in shares of Chipotle Mexican Grill by 125.3% in the third quarter. Wells Fargo & Company MN now owns 261,869 shares of the restaurant operator’s stock worth $119,025,000 after purchasing an additional 145,631 shares during the last quarter. Finally, Victory Capital Management Inc. increased its holdings in shares of Chipotle Mexican Grill by 2,018.2% in the third quarter. Victory Capital Management Inc. now owns 118,918 shares of the restaurant operator’s stock worth $54,050,000 after purchasing an additional 113,304 shares during the last quarter. 92.20% of the stock is currently owned by hedge funds and other institutional investors.

CMG opened at $471.26 on Friday. The company has a market cap of $13.10 billion, a PE ratio of 71.40, a price-to-earnings-growth ratio of 3.12 and a beta of 0.22. Chipotle Mexican Grill, Inc. has a one year low of $247.51 and a one year high of $530.68.

Chipotle Mexican Grill (NYSE:CMG) last announced its quarterly earnings results on Thursday, October 25th. The restaurant operator reported $2.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.00 by $0.16. The firm had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.23 billion. Chipotle Mexican Grill had a return on equity of 17.14% and a net margin of 3.96%. On average, sell-side analysts forecast that Chipotle Mexican Grill, Inc. will post 8.47 EPS for the current year.

Several brokerages have weighed in on CMG. Canaccord Genuity reissued a “hold” rating on shares of Chipotle Mexican Grill in a research note on Wednesday, November 14th. Citigroup reduced their price objective on Chipotle Mexican Grill from $573.00 to $527.00 and set a “buy” rating on the stock in a research note on Tuesday, October 30th. TheStreet cut Chipotle Mexican Grill from a “b-” rating to a “c” rating in a research note on Thursday, October 25th. Wells Fargo & Co boosted their price objective on Chipotle Mexican Grill from $415.00 to $420.00 and gave the stock a “market perform” rating in a research note on Friday, October 26th. Finally, Barclays boosted their price objective on Chipotle Mexican Grill from $360.00 to $400.00 and gave the stock an “equal weight” rating in a research note on Friday, October 26th. Nine research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and fourteen have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $431.72.

In related news, Director Pershing Square Capital Manage sold 118,307 shares of the business’s stock in a transaction that occurred on Tuesday, November 6th. The stock was sold at an average price of $472.05, for a total value of $55,846,819.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 2.19% of the stock is currently owned by insiders.

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About Chipotle Mexican Grill

Chipotle Mexican Grill, Inc, together with its subsidiaries, operates Chipotle Mexican Grill restaurants. As of September 30, 2018, it operated 2,424 Chipotle restaurants in the United States, as well as 37 international Chipotle restaurants. The company was founded in 1993 and is headquartered in Newport Beach, California.

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

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