JPMorgan Chase & Co. Cuts Stake in Chipotle Mexican Grill, Inc. (NYSE:CMG)

JPMorgan Chase & Co. trimmed its position in Chipotle Mexican Grill, Inc. (NYSE:CMG) by 11.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 673,236 shares of the restaurant operator’s stock after selling 88,925 shares during the quarter. JPMorgan Chase & Co.’s holdings in Chipotle Mexican Grill were worth $956,548,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in CMG. Price T Rowe Associates Inc. MD increased its holdings in Chipotle Mexican Grill by 3.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,403,185 shares of the restaurant operator’s stock worth $3,332,521,000 after acquiring an additional 78,320 shares during the period. BlackRock Inc. increased its holdings in shares of Chipotle Mexican Grill by 0.6% in the first quarter. BlackRock Inc. now owns 1,968,073 shares of the restaurant operator’s stock worth $2,796,276,000 after purchasing an additional 12,673 shares during the period. Edgewood Management LLC purchased a new stake in shares of Chipotle Mexican Grill in the fourth quarter worth $1,555,057,000. Wells Fargo & Company MN boosted its stake in Chipotle Mexican Grill by 9.7% during the fourth quarter. Wells Fargo & Company MN now owns 444,662 shares of the restaurant operator’s stock valued at $616,617,000 after buying an additional 39,383 shares during the period. Finally, Norges Bank purchased a new position in Chipotle Mexican Grill during the fourth quarter worth about $355,121,000. Institutional investors own 89.54% of the company’s stock.

Shares of CMG stock traded up $5.60 during mid-day trading on Friday, reaching $1,350.29. 3,311 shares of the company’s stock traded hands, compared to its average volume of 283,895. Chipotle Mexican Grill, Inc. has a 12 month low of $964.50 and a 12 month high of $1,579.52. The firm’s 50 day moving average price is $1,420.42. The stock has a market cap of $38.01 billion, a price-to-earnings ratio of 94.36, a PEG ratio of 2.92 and a beta of 1.35.

Chipotle Mexican Grill (NYSE:CMG) last released its quarterly earnings results on Tuesday, April 20th. The restaurant operator reported $5.36 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $4.92 by $0.44. The business had revenue of $1.74 billion during the quarter, compared to analyst estimates of $1.74 billion. Chipotle Mexican Grill had a return on equity of 19.45% and a net margin of 6.44%. Chipotle Mexican Grill’s revenue for the quarter was up 23.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.08 earnings per share. On average, analysts forecast that Chipotle Mexican Grill, Inc. will post 24.54 EPS for the current year.

CMG has been the subject of a number of research analyst reports. Robert W. Baird reissued a “buy” rating on shares of Chipotle Mexican Grill in a report on Thursday, May 13th. Royal Bank of Canada raised their price objective on shares of Chipotle Mexican Grill from $1,730.00 to $1,750.00 and gave the company an “outperform” rating in a research report on Tuesday, April 27th. Morgan Stanley upped their target price on shares of Chipotle Mexican Grill from $1,476.00 to $1,602.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 22nd. Evercore ISI boosted their price objective on shares of Chipotle Mexican Grill from $1,650.00 to $1,725.00 and gave the stock an “outperform” rating in a report on Thursday, April 22nd. Finally, BMO Capital Markets boosted their price target on shares of Chipotle Mexican Grill from $1,415.00 to $1,460.00 and gave the stock a “market perform” rating in a research note on Thursday, April 22nd. Eight analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $1,665.77.

In related news, Director Robin S. Hickenlooper sold 109 shares of the company’s stock in a transaction on Wednesday, May 19th. The shares were sold at an average price of $1,300.00, for a total transaction of $141,700.00. Following the sale, the director now owns 944 shares of the company’s stock, valued at $1,227,200. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CMO Christopher W. Brandt sold 1,331 shares of the stock in a transaction on Tuesday, March 16th. The shares were sold at an average price of $1,478.00, for a total transaction of $1,967,218.00. Insiders sold a total of 5,998 shares of company stock valued at $8,970,361 in the last quarter. 1.00% of the stock is currently owned by company insiders.

Chipotle Mexican Grill Profile

Chipotle Mexican Grill, Inc, together with its subsidiaries, owns and operates Chipotle Mexican Grill restaurants. As of December 31, 2020, it owned and operated 2,724 Chipotle restaurants in the United States, 40 international Chipotle restaurants, and 4 non-Chipotle restaurants. The company was founded in 1993 and is headquartered in Newport Beach, California.

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

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