Redwood Investment Management LLC lowered its holdings in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG) by 13.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,159 shares of the restaurant operator’s stock after selling 346 shares during the quarter. Redwood Investment Management LLC’s holdings in Chipotle Mexican Grill were worth $981,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in CMG. Jennison Associates LLC raised its position in shares of Chipotle Mexican Grill by 128.5% during the third quarter. Jennison Associates LLC now owns 830,269 shares of the restaurant operator’s stock worth $377,374,000 after purchasing an additional 466,849 shares during the period. Massachusetts Financial Services Co. MA acquired a new stake in shares of Chipotle Mexican Grill during the third quarter worth about $69,452,000. FMR LLC raised its position in shares of Chipotle Mexican Grill by 10.2% during 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 period. Wells Fargo & Company MN raised its position in shares of Chipotle Mexican Grill by 125.3% during 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 period. Finally, Victory Capital Management Inc. raised its position in shares of Chipotle Mexican Grill by 2,018.2% during 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 period. 92.20% of the stock is currently owned by institutional investors.
CMG stock opened at $471.42 on Friday. The company has a market capitalization of $13.10 billion, a price-to-earnings ratio of 71.43, a P/E/G ratio of 3.12 and a beta of 0.22. Chipotle Mexican Grill, Inc. has a twelve month low of $247.51 and a twelve month high of $530.68.
CMG has been the topic of a number of research analyst reports. Piper Jaffray Companies set a $550.00 price target on Chipotle Mexican Grill and gave the stock a “buy” rating in a research report on Monday, October 22nd. Wells Fargo & Co raised their price target on Chipotle Mexican Grill from $415.00 to $420.00 and gave the stock a “market perform” rating in a research report on Friday, October 26th. Gordon Haskett initiated coverage on Chipotle Mexican Grill in a research report on Thursday, October 18th. They set an “underperform” rating and a $385.00 price target on the stock. Wedbush lowered Chipotle Mexican Grill from a “neutral” rating to an “underperform” rating and dropped their price target for the stock from $450.00 to $445.00 in a research report on Monday, August 27th. Finally, William Blair reissued a “hold” rating on shares of Chipotle Mexican Grill in a research report on Wednesday, August 1st. Nine investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and fourteen have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $431.72.
In other Chipotle Mexican Grill news, Director Pershing Square Capital Manage sold 118,307 shares of the firm’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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 2.19% of the stock is owned by company insiders.
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Chipotle Mexican Grill Profile
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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