Magellan Asset Management Ltd Sells 61,374 Shares of Chipotle Mexican Grill, Inc. (NYSE:CMG)

Magellan Asset Management Ltd cut its stake in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG - Free Report) by 1.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,003,786 shares of the restaurant operator's stock after selling 61,374 shares during the quarter. Chipotle Mexican Grill comprises approximately 3.3% of Magellan Asset Management Ltd's portfolio, making the stock its 11th biggest position. Magellan Asset Management Ltd owned approximately 0.37% of Chipotle Mexican Grill worth $301,728,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the company. Pitcairn Co. raised its stake in Chipotle Mexican Grill by 4.7% during the fourth quarter. Pitcairn Co. now owns 8,082 shares of the restaurant operator's stock valued at $487,000 after purchasing an additional 363 shares in the last quarter. Spahn Wealth & Retirement LLC bought a new stake in shares of Chipotle Mexican Grill in the fourth quarter valued at about $3,220,000. Arete Wealth Advisors LLC lifted its position in shares of Chipotle Mexican Grill by 36.8% in the 4th quarter. Arete Wealth Advisors LLC now owns 9,534 shares of the restaurant operator's stock worth $575,000 after purchasing an additional 2,566 shares during the period. Motley Fool Asset Management LLC lifted its stake in shares of Chipotle Mexican Grill by 31.6% during the 4th quarter. Motley Fool Asset Management LLC now owns 72,528 shares of the restaurant operator's stock worth $4,373,000 after purchasing an additional 17,414 shares during the last quarter. Finally, World Investment Advisors raised its stake in shares of Chipotle Mexican Grill by 92.9% during the 4th quarter. World Investment Advisors now owns 157,655 shares of the restaurant operator's stock worth $9,507,000 after acquiring an additional 75,928 shares in the last quarter. Hedge funds and other institutional investors own 91.31% of the company's stock.

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Chipotle Mexican Grill Price Performance

NYSE CMG traded down $2.80 on Friday, reaching $47.29. The company had a trading volume of 17,904,945 shares, compared to its average volume of 13,317,790. Chipotle Mexican Grill, Inc. has a fifty-two week low of $46.78 and a fifty-two week high of $69.26. The business has a 50 day moving average of $53.16 and a two-hundred day moving average of $57.33. The firm has a market cap of $64.09 billion, a price-to-earnings ratio of 42.59, a P/E/G ratio of 2.04 and a beta of 1.27.

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) last released its quarterly earnings data on Tuesday, February 4th. The restaurant operator reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.01. Chipotle Mexican Grill had a net margin of 13.56% and a return on equity of 42.92%. As a group, research analysts predict that Chipotle Mexican Grill, Inc. will post 1.29 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on CMG. Citigroup dropped their price target on Chipotle Mexican Grill from $70.00 to $62.00 and set a "buy" rating on the stock in a research note on Wednesday. Barclays cut their price target on Chipotle Mexican Grill from $63.00 to $60.00 and set an "equal weight" rating on the stock in a research report on Wednesday, February 5th. Loop Capital upgraded Chipotle Mexican Grill from a "hold" rating to a "buy" rating and increased their price target for the stock from $58.00 to $65.00 in a research report on Friday, March 14th. Wedbush cut their target price on shares of Chipotle Mexican Grill from $69.00 to $64.00 and set an "outperform" rating for the company in a research note on Wednesday, February 5th. Finally, Raymond James decreased their price target on shares of Chipotle Mexican Grill from $72.00 to $69.00 and set an "outperform" rating on the stock in a research note on Tuesday, January 28th. Eight research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $66.38.

Chipotle Mexican Grill Profile

Chipotle Mexican Grill, Inc, together with its subsidiaries, owns and operates Chipotle Mexican Grill restaurants. It sells food and beverages through offering burritos, burrito bowls, quesadillas, tacos, and salads. The company also provides delivery and related services its app and website. It has operations in the United States, Canada, France, Germany, and the United Kingdom.