Gagnon Securities LLC Sells 26,153 Shares of Chipotle Mexican Grill, Inc. $CMG

Gagnon Securities LLC trimmed its position in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG) by 17.8% in the third quarter, Holdings Channel reports. The fund owned 120,395 shares of the restaurant operator’s stock after selling 26,153 shares during the quarter. Gagnon Securities LLC’s holdings in Chipotle Mexican Grill were worth $4,718,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. boosted its stake in Chipotle Mexican Grill by 0.8% during the 2nd quarter. Vanguard Group Inc. now owns 123,457,125 shares of the restaurant operator’s stock valued at $6,932,118,000 after purchasing an additional 993,798 shares during the period. Alliancebernstein L.P. increased its position in Chipotle Mexican Grill by 1.9% in the 2nd quarter. Alliancebernstein L.P. now owns 33,111,508 shares of the restaurant operator’s stock worth $1,859,211,000 after buying an additional 606,190 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Chipotle Mexican Grill by 1.1% during the second quarter. Geode Capital Management LLC now owns 29,659,508 shares of the restaurant operator’s stock worth $1,657,193,000 after buying an additional 325,926 shares during the last quarter. American Century Companies Inc. boosted its position in shares of Chipotle Mexican Grill by 2.9% in the second quarter. American Century Companies Inc. now owns 21,257,666 shares of the restaurant operator’s stock valued at $1,193,618,000 after acquiring an additional 595,038 shares during the period. Finally, Norges Bank acquired a new stake in shares of Chipotle Mexican Grill in the second quarter worth $1,001,668,000. 91.30% of the stock is owned by institutional investors and hedge funds.

Chipotle Mexican Grill Trading Down 0.2%

Shares of CMG stock opened at $39.09 on Friday. Chipotle Mexican Grill, Inc. has a 1 year low of $29.75 and a 1 year high of $59.57. The firm’s 50 day moving average is $37.08 and its 200-day moving average is $39.50. The firm has a market capitalization of $51.68 billion, a price-to-earnings ratio of 34.59, a PEG ratio of 3.53 and a beta of 0.97.

Chipotle Mexican Grill (NYSE:CMG) last issued its quarterly earnings results on Wednesday, October 29th. The restaurant operator reported $0.29 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.29. Chipotle Mexican Grill had a net margin of 13.04% and a return on equity of 45.39%. The business had revenue of $3 billion during the quarter, compared to analyst estimates of $3.06 billion. During the same quarter last year, the business posted $0.27 earnings per share. Chipotle Mexican Grill’s revenue for the quarter was up 7.5% compared to the same quarter last year. On average, equities research analysts forecast that Chipotle Mexican Grill, Inc. will post 1.29 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Northcoast Research cut shares of Chipotle Mexican Grill from a “buy” rating to a “neutral” rating in a research note on Friday, October 31st. Robert W. Baird cut their price objective on shares of Chipotle Mexican Grill from $59.00 to $49.00 and set an “outperform” rating for the company in a research report on Friday, October 10th. Evercore ISI reiterated an “outperform” rating and issued a $45.00 target price on shares of Chipotle Mexican Grill in a research note on Friday, December 19th. Telsey Advisory Group assumed coverage on Chipotle Mexican Grill in a report on Friday, January 9th. They issued an “outperform” rating and a $50.00 price target for the company. Finally, Truist Financial lifted their price objective on Chipotle Mexican Grill from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Thursday, January 8th. Two analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and thirteen have assigned a Hold rating to the company. According to MarketBeat.com, Chipotle Mexican Grill currently has a consensus rating of “Moderate Buy” and a consensus price target of $50.23.

Chipotle Mexican Grill Profile

Chipotle Mexican Grill is a fast-casual restaurant company known for its Mexican-inspired menu of burritos, bowls, tacos and salads. Founded in 1993 by Steve Ells, the chain emphasizes fresh, customizable meals made from a limited menu of core ingredients and a focus on ingredient quality. Chipotle operates primarily company-owned restaurants and offers dine-in, takeout, catering and delivery through its own digital platforms and third-party partners.

The company is headquartered in Newport Beach, California, and traces its roots to Denver, Colorado.