Navellier & Associates Inc Reduces Stock Holdings in Chipotle Mexican Grill, Inc. (NYSE:CMG)

Navellier & Associates Inc decreased its position in Chipotle Mexican Grill, Inc. (NYSE:CMG) by 1.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,547 shares of the restaurant operator’s stock after selling 106 shares during the period. Chipotle Mexican Grill comprises approximately 1.2% of Navellier & Associates Inc’s portfolio, making the stock its 16th biggest holding. Navellier & Associates Inc’s holdings in Chipotle Mexican Grill were worth $7,183,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the stock. FMR LLC lifted its position in shares of Chipotle Mexican Grill by 88.7% during the first quarter. FMR LLC now owns 1,143,585 shares of the restaurant operator’s stock worth $812,301,000 after acquiring an additional 537,677 shares in the last quarter. Nuveen Asset Management LLC lifted its position in shares of Chipotle Mexican Grill by 71,232.9% during the second quarter. Nuveen Asset Management LLC now owns 470,797 shares of the restaurant operator’s stock worth $345,037,000 after acquiring an additional 470,137 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of Chipotle Mexican Grill by 22.7% during the second quarter. Renaissance Technologies LLC now owns 1,791,499 shares of the restaurant operator’s stock worth $1,312,954,000 after acquiring an additional 331,100 shares in the last quarter. BlackRock Inc. lifted its position in shares of Chipotle Mexican Grill by 7.7% during the second quarter. BlackRock Inc. now owns 1,699,029 shares of the restaurant operator’s stock worth $1,245,187,000 after acquiring an additional 121,606 shares in the last quarter. Finally, Jennison Associates LLC lifted its position in shares of Chipotle Mexican Grill by 7.6% during the second quarter. Jennison Associates LLC now owns 927,804 shares of the restaurant operator’s stock worth $679,969,000 after acquiring an additional 65,485 shares in the last quarter. Institutional investors and hedge funds own 92.05% of the company’s stock.

In related news, CEO Brian R. Niccol sold 4,392 shares of the stock in a transaction on Monday, September 9th. The stock was sold at an average price of $849.90, for a total value of $3,732,760.80. Following the transaction, the chief executive officer now owns 32,659 shares of the company’s stock, valued at $27,756,884.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CTO Curtis E. Garner sold 1,272 shares of the firm’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $850.00, for a total value of $1,081,200.00. Following the transaction, the chief technology officer now directly owns 7,280 shares in the company, valued at $6,188,000. The disclosure for this sale can be found here. In the last three months, insiders sold 113,531 shares of company stock worth $91,910,364. 2.21% of the stock is owned by insiders.

Several research firms have issued reports on CMG. Morgan Stanley increased their target price on Chipotle Mexican Grill from $700.00 to $706.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 24th. ValuEngine downgraded Chipotle Mexican Grill from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. BMO Capital Markets increased their target price on Chipotle Mexican Grill from $620.00 to $640.00 and gave the stock an “underperform” rating in a research report on Wednesday, July 24th. Stephens increased their price objective on Chipotle Mexican Grill from $650.00 to $700.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 24th. Finally, Mizuho increased their price objective on Chipotle Mexican Grill from $420.00 to $500.00 and gave the stock an “underperform” rating in a research report on Wednesday, July 24th. Five analysts have rated the stock with a sell rating, fourteen have given a hold rating and sixteen have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $732.87.

CMG traded down $3.76 during trading on Wednesday, reaching $822.98. The stock had a trading volume of 173,024 shares, compared to its average volume of 478,820. The stock has a market cap of $23.02 billion, a PE ratio of 90.84, a PEG ratio of 3.36 and a beta of 0.70. The company has a debt-to-equity ratio of 1.65, a quick ratio of 1.48 and a current ratio of 1.52. Chipotle Mexican Grill, Inc. has a one year low of $383.20 and a one year high of $857.90. The business has a 50-day moving average of $824.81 and a 200-day moving average of $755.23.

Chipotle Mexican Grill (NYSE:CMG) last released its earnings results on Tuesday, July 23rd. The restaurant operator reported $3.99 EPS for the quarter, beating the Zacks’ consensus estimate of $3.68 by $0.31. The business had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.41 billion. Chipotle Mexican Grill had a return on equity of 21.50% and a net margin of 4.80%. The firm’s revenue was up 13.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.87 earnings per share. Equities research analysts forecast that Chipotle Mexican Grill, Inc. will post 13.38 EPS for the current fiscal year.

Chipotle Mexican Grill Profile

Chipotle Mexican Grill, Inc, together with its subsidiaries, operates Chipotle Mexican Grill restaurants. As of December 31, 2018, it operated 2,491 restaurants, including 2,452 Chipotle restaurants in the United States, 37 Chipotle restaurants internationally, and two non-Chipotle restaurants. The company was founded in 1993 and is headquartered in Newport Beach, California.

Further Reading: Diversification Important in Investing

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

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