Chipotle Mexican Grill, Inc. $CMG Position Trimmed by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. decreased its holdings in Chipotle Mexican Grill, Inc. (NYSE:CMG) by 23.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,283,274 shares of the restaurant operator’s stock after selling 983,345 shares during the period. Assenagon Asset Management S.A.’s holdings in Chipotle Mexican Grill were worth $105,098,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in CMG. Bank of Nova Scotia boosted its position in Chipotle Mexican Grill by 11.0% during the third quarter. Bank of Nova Scotia now owns 475,672 shares of the restaurant operator’s stock valued at $18,642,000 after purchasing an additional 47,241 shares during the last quarter. Klein Pavlis & Peasley Financial Inc. purchased a new position in Chipotle Mexican Grill in the fourth quarter valued at about $1,597,000. Norges Bank acquired a new position in Chipotle Mexican Grill in the 4th quarter worth about $711,837,000. Crescent Park Management L.P. acquired a new position in Chipotle Mexican Grill in the 3rd quarter worth about $5,911,000. Finally, Focus Partners Advisor Solutions LLC raised its stake in shares of Chipotle Mexican Grill by 156.9% during the 4th quarter. Focus Partners Advisor Solutions LLC now owns 58,269 shares of the restaurant operator’s stock worth $2,156,000 after purchasing an additional 35,589 shares in the last quarter. 91.30% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CMG has been the subject of several research reports. Stephens lifted their price target on Chipotle Mexican Grill from $38.00 to $39.00 and gave the company an “equal weight” rating in a report on Thursday, April 30th. BTIG Research restated a “buy” rating and issued a $45.00 price objective on shares of Chipotle Mexican Grill in a report on Thursday, April 30th. JPMorgan Chase & Co. raised shares of Chipotle Mexican Grill from a “neutral” rating to an “overweight” rating and cut their price objective for the company from $38.00 to $35.00 in a research report on Friday, June 5th. Zacks Research upgraded shares of Chipotle Mexican Grill from a “strong sell” rating to a “hold” rating in a research note on Friday, April 17th. Finally, Citigroup boosted their target price on shares of Chipotle Mexican Grill from $44.00 to $46.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. Twenty-three equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $45.10.

Chipotle Mexican Grill Price Performance

NYSE CMG opened at $31.69 on Thursday. Chipotle Mexican Grill, Inc. has a fifty-two week low of $28.03 and a fifty-two week high of $58.42. The stock’s 50-day moving average is $32.46 and its two-hundred day moving average is $35.10. The firm has a market cap of $40.65 billion, a P/E ratio of 29.08, a price-to-earnings-growth ratio of 1.99 and a beta of 0.99.

Chipotle Mexican Grill (NYSE:CMG) last released its quarterly earnings results on Wednesday, April 29th. The restaurant operator reported $0.24 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.24. The company had revenue of $3.09 billion during the quarter, compared to the consensus estimate of $3.07 billion. Chipotle Mexican Grill had a return on equity of 49.64% and a net margin of 11.96%.The firm’s revenue was up 7.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.29 EPS. On average, equities analysts expect that Chipotle Mexican Grill, Inc. will post 1.13 EPS for the current year.

Chipotle Mexican Grill Company 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.