PNC Financial Services Group Inc. Reduces Stock Holdings in Chipotle Mexican Grill, Inc. $CMG

PNC Financial Services Group Inc. cut its stake in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG) by 14.7% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 310,629 shares of the restaurant operator’s stock after selling 53,666 shares during the period. PNC Financial Services Group Inc.’s holdings in Chipotle Mexican Grill were worth $12,174,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Norges Bank acquired a new stake in Chipotle Mexican Grill during the 2nd quarter valued at $1,001,668,000. Sustainable Growth Advisers LP purchased a new position in Chipotle Mexican Grill in the 2nd quarter valued at about $597,031,000. BlueSpruce Investments LP grew its stake in shares of Chipotle Mexican Grill by 24,760.7% during the second quarter. BlueSpruce Investments LP now owns 3,930,732 shares of the restaurant operator’s stock valued at $220,711,000 after acquiring an additional 3,914,921 shares in the last quarter. Marshall Wace LLP increased its position in shares of Chipotle Mexican Grill by 2,705.6% during the second quarter. Marshall Wace LLP now owns 2,126,682 shares of the restaurant operator’s stock worth $119,413,000 after acquiring an additional 2,050,882 shares during the last quarter. Finally, Winslow Capital Management LLC increased its position in shares of Chipotle Mexican Grill by 20.1% during the second quarter. Winslow Capital Management LLC now owns 10,705,985 shares of the restaurant operator’s stock worth $601,141,000 after acquiring an additional 1,794,175 shares during the last quarter. Institutional investors and hedge funds own 91.30% of the company’s stock.

Chipotle Mexican Grill Stock Performance

NYSE CMG opened at $38.77 on Thursday. Chipotle Mexican Grill, Inc. has a one year low of $29.75 and a one year high of $58.42. The company has a 50-day simple moving average of $38.37 and a 200-day simple moving average of $38.35. The firm has a market capitalization of $50.49 billion, a PE ratio of 34.01, a price-to-earnings-growth ratio of 2.31 and a beta of 0.99.

Chipotle Mexican Grill (NYSE:CMG) last issued its earnings results on Tuesday, February 3rd. The restaurant operator reported $0.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.01. The firm had revenue of $2.98 billion for the quarter, compared to analysts’ expectations of $2.96 billion. Chipotle Mexican Grill had a net margin of 12.88% and a return on equity of 47.99%. Chipotle Mexican Grill’s revenue was up 4.9% on a year-over-year basis. During the same quarter last year, the company posted $0.25 earnings per share. Equities analysts forecast that Chipotle Mexican Grill, Inc. will post 1.29 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on CMG. Royal Bank Of Canada reduced their price target on Chipotle Mexican Grill from $58.00 to $40.00 and set an “outperform” rating for the company in a report on Thursday, October 30th. Zacks Research downgraded shares of Chipotle Mexican Grill from a “hold” rating to a “strong sell” rating in a research report on Friday, February 6th. Gordon Haskett lowered shares of Chipotle Mexican Grill from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 8th. Northcoast Research downgraded shares of Chipotle Mexican Grill from a “buy” rating to a “neutral” rating in a research note on Friday, October 31st. Finally, UBS Group reissued a “buy” rating on shares of Chipotle Mexican Grill in a report on Monday, January 26th. Twenty-two equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Chipotle Mexican Grill currently has an average rating of “Moderate Buy” and a consensus price target of $47.24.

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.