Magellan Asset Management Ltd Lowers Holdings in Chipotle Mexican Grill, Inc. (NYSE:CMG)

Magellan Asset Management Ltd decreased its position in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG) by 1.2% in the fourth quarter, HoldingsChannel reports. The firm owned 5,003,786 shares of the restaurant operator’s stock after selling 61,374 shares during the quarter. Chipotle Mexican Grill accounts for approximately 3.3% of Magellan Asset Management Ltd’s investment portfolio, making the stock its 11th largest holding. Magellan Asset Management Ltd’s holdings in Chipotle Mexican Grill were worth $301,728,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of CMG. Golden State Wealth Management LLC bought a new stake in shares of Chipotle Mexican Grill in the 4th quarter valued at approximately $371,000. Raymond James Financial Inc. bought a new stake in Chipotle Mexican Grill during the 4th quarter valued at about $315,220,000. U.S. Capital Wealth Advisors LLC boosted its holdings in shares of Chipotle Mexican Grill by 155.1% in the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 14,918 shares of the restaurant operator’s stock valued at $900,000 after purchasing an additional 9,070 shares during the period. Woodard & Co. Asset Management Group Inc. ADV bought a new position in shares of Chipotle Mexican Grill during the 4th quarter worth $715,000. Finally, Vinva Investment Management Ltd grew its holdings in Chipotle Mexican Grill by 50.6% during the 4th quarter. Vinva Investment Management Ltd now owns 65,069 shares of the restaurant operator’s stock worth $3,910,000 after acquiring an additional 21,864 shares in the last quarter. 91.31% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CMG has been the subject of several recent research reports. Wells Fargo & Company reduced their price target on Chipotle Mexican Grill from $75.00 to $70.00 and set an “overweight” rating for the company in a research report on Wednesday, February 5th. Stephens cut their target price on Chipotle Mexican Grill from $61.00 to $60.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 5th. Sanford C. Bernstein reissued an “outperform” rating and set a $70.00 price target on shares of Chipotle Mexican Grill in a research report on Tuesday, January 28th. Barclays reduced their price objective on Chipotle Mexican Grill from $63.00 to $60.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 5th. Finally, Stifel Nicolaus decreased their target price on shares of Chipotle Mexican Grill from $68.00 to $65.00 and set a “buy” rating for the company in a research note on Wednesday, March 19th. Eight investment analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Chipotle Mexican Grill currently has an average rating of “Moderate Buy” and an average price target of $66.38.

Chipotle Mexican Grill Stock Up 0.7 %

CMG stock opened at $52.04 on Thursday. The company has a market capitalization of $70.53 billion, a P/E ratio of 46.87, a PEG ratio of 2.04 and a beta of 1.27. The company has a 50-day simple moving average of $53.50 and a 200 day simple moving average of $57.46. Chipotle Mexican Grill, Inc. has a fifty-two week low of $47.55 and a fifty-two week high of $69.26.

Chipotle Mexican Grill (NYSE:CMG) last released its earnings results on Tuesday, February 4th. The restaurant operator reported $0.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.01. Chipotle Mexican Grill had a return on equity of 42.92% and a net margin of 13.56%. Equities analysts anticipate that Chipotle Mexican Grill, Inc. will post 1.29 EPS for the current year.

Chipotle Mexican Grill Profile

Chipotle Mexican Grill, Inc, together with its subsidiaries, owns and operates Chipotle Mexican Grill restaurants. It sells food and beverages through offering burritos, burrito bowls, quesadillas, tacos, and salads. The company also provides delivery and related services its app and website. It has operations in the United States, Canada, France, Germany, and the United Kingdom.