Pinnacle Associates Ltd. Reduces Stock Position in Chipotle Mexican Grill, Inc. $CMG

Pinnacle Associates Ltd. decreased its position in Chipotle Mexican Grill, Inc. (NYSE:CMG) by 31.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 49,925 shares of the restaurant operator’s stock after selling 22,442 shares during the quarter. Pinnacle Associates Ltd.’s holdings in Chipotle Mexican Grill were worth $1,847,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Revolve Wealth Partners LLC increased its position in Chipotle Mexican Grill by 4.7% during the fourth quarter. Revolve Wealth Partners LLC now owns 4,804 shares of the restaurant operator’s stock worth $290,000 after purchasing an additional 214 shares during the last quarter. Centurion Wealth Management LLC raised its stake in Chipotle Mexican Grill by 3.1% during the fourth quarter. Centurion Wealth Management LLC now owns 8,713 shares of the restaurant operator’s stock worth $322,000 after purchasing an additional 260 shares during the period. City State Bank boosted its holdings in shares of Chipotle Mexican Grill by 13.4% in the 4th quarter. City State Bank now owns 2,330 shares of the restaurant operator’s stock valued at $86,000 after purchasing an additional 275 shares during the last quarter. Cromwell Holdings LLC grew its stake in shares of Chipotle Mexican Grill by 7.4% during the 4th quarter. Cromwell Holdings LLC now owns 4,295 shares of the restaurant operator’s stock valued at $159,000 after buying an additional 295 shares during the period. Finally, Catalyst Financial Partners LLC increased its holdings in shares of Chipotle Mexican Grill by 4.6% during the 4th quarter. Catalyst Financial Partners LLC now owns 6,763 shares of the restaurant operator’s stock worth $250,000 after buying an additional 298 shares during the last quarter. 91.30% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. KeyCorp reduced their target price on Chipotle Mexican Grill from $45.00 to $42.00 and set an “overweight” rating on the stock in a report on Wednesday, February 4th. Stephens boosted their target price on Chipotle Mexican Grill from $38.00 to $39.00 and gave the stock an “equal weight” rating in a report on Thursday, April 30th. BTIG Research restated a “buy” rating and issued a $45.00 price target on shares of Chipotle Mexican Grill in a report on Thursday, April 30th. Royal Bank Of Canada reiterated an “outperform” rating and set a $45.00 price objective on shares of Chipotle Mexican Grill in a research note on Thursday, April 30th. Finally, Wall Street Zen raised shares of Chipotle Mexican Grill from a “sell” rating to a “hold” rating in a research report on Saturday, March 7th. Twenty-four investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. Based on data from MarketBeat, Chipotle Mexican Grill presently has a consensus rating of “Moderate Buy” and a consensus price target of $46.03.

Chipotle Mexican Grill Stock Performance

Shares of NYSE:CMG opened at $32.59 on Friday. The business’s 50-day simple moving average is $33.54 and its 200 day simple moving average is $35.36. The company has a market cap of $41.81 billion, a P/E ratio of 29.90, a PEG ratio of 2.10 and a beta of 1.03. Chipotle Mexican Grill, Inc. has a one year low of $29.75 and a one year high of $58.42.

Chipotle Mexican Grill (NYSE:CMG) last released its quarterly earnings results on Wednesday, April 29th. The restaurant operator reported $0.24 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.24. The firm had revenue of $3.09 billion during the quarter, compared to analysts’ expectations of $3.07 billion. Chipotle Mexican Grill had a return on equity of 49.64% and a net margin of 11.96%.Chipotle Mexican Grill’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.29 EPS. Analysts predict that Chipotle Mexican Grill, Inc. will post 1.13 earnings per share for the current year.

About Chipotle Mexican Grill

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.