Edgewood Management LLC Sells 1,561,143 Shares of Chipotle Mexican Grill, Inc. (NYSE:CMG)

Edgewood Management LLC trimmed its position in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG) by 7.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,770,476 shares of the restaurant operator’s stock after selling 1,561,143 shares during the period. Chipotle Mexican Grill accounts for approximately 3.4% of Edgewood Management LLC’s investment portfolio, making the stock its 17th biggest position. Edgewood Management LLC owned approximately 1.45% of Chipotle Mexican Grill worth $1,192,160,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Chipotle Mexican Grill in the 4th quarter valued at about $1,093,345,000. Alphinity Investment Management Pty Ltd acquired a new stake in Chipotle Mexican Grill in the 4th quarter valued at about $692,701,000. Alliancebernstein L.P. grew its holdings in Chipotle Mexican Grill by 29.5% during the fourth quarter. Alliancebernstein L.P. now owns 30,100,520 shares of the restaurant operator’s stock worth $1,815,061,000 after purchasing an additional 6,853,470 shares during the period. Raymond James Financial Inc. acquired a new position in Chipotle Mexican Grill during the fourth quarter worth approximately $315,220,000. Finally, Clearbridge Investments LLC increased its position in Chipotle Mexican Grill by 2,145.9% during the fourth quarter. Clearbridge Investments LLC now owns 3,180,051 shares of the restaurant operator’s stock worth $191,757,000 after buying an additional 3,038,460 shares during the last quarter. 91.31% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

CMG has been the subject of a number of recent analyst reports. Loop Capital raised Chipotle Mexican Grill from a “hold” rating to a “buy” rating and raised their price objective for the company from $58.00 to $65.00 in a research report on Friday, March 14th. Raymond James cut their price target on Chipotle Mexican Grill from $72.00 to $69.00 and set an “outperform” rating for the company in a report on Tuesday, January 28th. Sanford C. Bernstein restated an “outperform” rating and set a $70.00 target price on shares of Chipotle Mexican Grill in a research note on Tuesday, January 28th. Oppenheimer increased their price target on shares of Chipotle Mexican Grill from $65.00 to $69.00 and gave the company an “outperform” rating in a report on Tuesday, January 7th. Finally, Stephens reduced their price objective on Chipotle Mexican Grill from $61.00 to $60.00 and set an “equal weight” rating for the company in a report on Wednesday, February 5th. Eight 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 data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $66.38.

Chipotle Mexican Grill Stock Performance

Shares of CMG opened at $47.29 on Friday. Chipotle Mexican Grill, Inc. has a 52-week low of $46.78 and a 52-week high of $69.26. The firm has a market cap of $64.09 billion, a price-to-earnings ratio of 42.59, a PEG ratio of 2.04 and a beta of 1.27. The business’s fifty day moving average is $53.16 and its 200-day moving average is $57.33.

Chipotle Mexican Grill (NYSE:CMG) last issued its earnings results on Tuesday, February 4th. The restaurant operator reported $0.25 EPS for the quarter, topping the consensus estimate of $0.24 by $0.01. Chipotle Mexican Grill had a return on equity of 42.92% and a net margin of 13.56%. As a group, research analysts forecast that Chipotle Mexican Grill, Inc. will post 1.29 EPS for the current fiscal 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.