CIBC Private Wealth Group LLC Lowers Stock Position in Chipotle Mexican Grill, Inc. $CMG

CIBC Private Wealth Group LLC cut its stake in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG) by 71.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 954,366 shares of the restaurant operator’s stock after selling 2,442,174 shares during the period. CIBC Private Wealth Group LLC owned approximately 0.07% of Chipotle Mexican Grill worth $37,402,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Bank of Nova Scotia grew its stake in shares of Chipotle Mexican Grill by 11.0% in the third quarter. Bank of Nova Scotia now owns 475,672 shares of the restaurant operator’s stock valued at $18,642,000 after buying an additional 47,241 shares in the last quarter. Sarasin & Partners LLP boosted its holdings in Chipotle Mexican Grill by 1.1% during the 3rd quarter. Sarasin & Partners LLP now owns 2,565,111 shares of the restaurant operator’s stock valued at $102,348,000 after acquiring an additional 27,366 shares during the period. Rexford Capital Inc. grew its position in Chipotle Mexican Grill by 3,266.1% in the 3rd quarter. Rexford Capital Inc. now owns 14,676 shares of the restaurant operator’s stock valued at $575,000 after acquiring an additional 14,240 shares in the last quarter. Union Bancaire Privee UBP SA grew its position in Chipotle Mexican Grill by 76.3% in the 3rd quarter. Union Bancaire Privee UBP SA now owns 356,986 shares of the restaurant operator’s stock valued at $13,333,000 after acquiring an additional 154,512 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its stake in Chipotle Mexican Grill by 34.2% during the third quarter. Allspring Global Investments Holdings LLC now owns 283,407 shares of the restaurant operator’s stock worth $11,044,000 after purchasing an additional 72,167 shares during the period. 91.30% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Gordon Haskett cut shares of Chipotle Mexican Grill from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 8th. Wells Fargo & Company dropped their price objective on shares of Chipotle Mexican Grill from $50.00 to $45.00 and set an “overweight” rating for the company in a report on Wednesday, February 4th. BTIG Research reiterated a “buy” rating and set a $45.00 target price on shares of Chipotle Mexican Grill in a report on Wednesday, February 4th. DA Davidson began coverage on shares of Chipotle Mexican Grill in a research report on Friday, March 6th. They issued a “buy” rating and a $51.00 price target for the company. Finally, KeyCorp dropped their price target on shares of Chipotle Mexican Grill from $45.00 to $42.00 and set an “overweight” rating for the company in a research note on Wednesday, February 4th. Twenty-three equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $47.37.

Chipotle Mexican Grill Stock Performance

Shares of Chipotle Mexican Grill stock opened at $32.96 on Friday. The business has a 50-day simple moving average of $37.61 and a 200-day simple moving average of $37.32. Chipotle Mexican Grill, Inc. has a one year low of $29.75 and a one year high of $58.42. The company has a market cap of $42.93 billion, a PE ratio of 28.92, a P/E/G ratio of 2.00 and a beta of 1.00.

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