Price T Rowe Associates Inc. MD Sells 2,118,983 Shares of Chipotle Mexican Grill, Inc. (NYSE:CMG)

Price T Rowe Associates Inc. MD lessened its stake in Chipotle Mexican Grill, Inc. (NYSE:CMG - Free Report) by 3.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 52,800,316 shares of the restaurant operator's stock after selling 2,118,983 shares during the period. Price T Rowe Associates Inc. MD owned about 3.87% of Chipotle Mexican Grill worth $3,183,860,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in CMG. Norges Bank bought a new stake in Chipotle Mexican Grill in the fourth quarter valued at approximately $1,093,345,000. Alphinity Investment Management Pty Ltd acquired a new stake in shares of Chipotle Mexican Grill during the fourth quarter worth $692,701,000. Alliancebernstein L.P. raised its stake in Chipotle Mexican Grill by 29.5% during the fourth quarter. Alliancebernstein L.P. now owns 30,100,520 shares of the restaurant operator's stock worth $1,815,061,000 after buying an additional 6,853,470 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Chipotle Mexican Grill in the fourth quarter valued at $315,220,000. Finally, Clearbridge Investments LLC lifted its holdings in Chipotle Mexican Grill by 2,145.9% in the fourth quarter. Clearbridge Investments LLC now owns 3,180,051 shares of the restaurant operator's stock valued at $191,757,000 after buying an additional 3,038,460 shares during the period. Institutional investors and hedge funds own 91.31% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CMG. Piper Sandler dropped their price objective on Chipotle Mexican Grill from $60.00 to $59.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 5th. Loop Capital upgraded shares of Chipotle Mexican Grill from a "hold" rating to a "buy" rating and lifted their price objective for the company from $58.00 to $65.00 in a research note on Friday, March 14th. Sanford C. Bernstein reissued an "outperform" rating and set a $70.00 target price on shares of Chipotle Mexican Grill in a research note on Tuesday, January 28th. Wells Fargo & Company decreased their price target on shares of Chipotle Mexican Grill from $70.00 to $60.00 and set an "overweight" rating for the company in a research note on Tuesday. Finally, Raymond James cut their price objective on shares of Chipotle Mexican Grill from $72.00 to $69.00 and set an "outperform" rating on the stock in a research report on Tuesday, January 28th. Eight investment analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Chipotle Mexican Grill has an average rating of "Moderate Buy" and an average target price of $63.99.

Chipotle Mexican Grill Price Performance

NYSE:CMG opened at $47.10 on Wednesday. The company has a market capitalization of $63.84 billion, a P/E ratio of 42.42, a P/E/G ratio of 2.04 and a beta of 1.27. The business has a fifty day simple moving average of $50.48 and a two-hundred day simple moving average of $56.43. Chipotle Mexican Grill, Inc. has a 1 year low of $44.46 and a 1 year high of $69.26.

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) last announced 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 return on equity of 42.92% and a net margin of 13.56%. As a group, analysts anticipate that Chipotle Mexican Grill, Inc. will post 1.29 earnings per share for the current year.

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.

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