Bank of New York Mellon Corp Lowers Holdings in Chipotle Mexican Grill, Inc. $CMG

Bank of New York Mellon Corp lowered its stake in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG) by 3.5% in the first quarter, HoldingsChannel reports. The fund owned 6,858,274 shares of the restaurant operator’s stock after selling 247,766 shares during the quarter. Bank of New York Mellon Corp’s holdings in Chipotle Mexican Grill were worth $219,533,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of CMG. Wealth Watch Advisors INC acquired a new stake in shares of Chipotle Mexican Grill in the third quarter worth approximately $25,000. MV Capital Management Inc. acquired a new position in Chipotle Mexican Grill during the fourth quarter worth approximately $26,000. Osbon Capital Management LLC acquired a new position in Chipotle Mexican Grill during the fourth quarter worth approximately $28,000. Merkkuri Wealth Advisors LLC purchased a new position in Chipotle Mexican Grill during the first quarter worth approximately $28,000. Finally, Ankerstar Wealth LLC purchased a new position in Chipotle Mexican Grill during the fourth quarter worth approximately $33,000. 91.30% of the stock is currently owned by hedge funds and other institutional investors.

Key Chipotle Mexican Grill News

Here are the key news stories impacting Chipotle Mexican Grill this week:

• Positive Sentiment: Chipotle and Wendy’s said their restaurants were not affected by the cyclosporiasis outbreak linked to lettuce at some Taco Bell locations, easing fears that the issue would spread to other fast-casual chains. Reuters article on cyclosporiasis outbreak
• Positive Sentiment: Chipotle opened its first restaurant in Mexico, a long-awaited international debut that could expand the brand’s growth runway and support sentiment around future store growth. Reuters article on Mexico debut
• Neutral Sentiment: Several analysts and market commentary pieces framed CMG as having improving traffic and rewards growth, but also noted that valuation and margin pressure remain key debates for the stock. Yahoo Finance comparison article
• Neutral Sentiment: Some commentary said Chipotle still looks fully priced after its recent decline, suggesting valuation may limit upside even after the recent rebound. Yahoo Finance valuation article
• Negative Sentiment: At least one market update said Chipotle underperformed peers on Thursday, reinforcing that the stock has been volatile and is still recovering from a sharp year-to-date slide. MarketWatch underperformance article

Chipotle Mexican Grill Stock Up 0.8%

Chipotle Mexican Grill stock opened at $34.47 on Friday. The firm has a fifty day moving average of $32.60 and a 200-day moving average of $34.90. Chipotle Mexican Grill, Inc. has a 52-week low of $28.03 and a 52-week high of $54.29. The firm has a market capitalization of $44.22 billion, a P/E ratio of 31.63, a PEG ratio of 2.23 and a beta of 0.97.

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

Analyst Ratings Changes

CMG has been the subject of several research reports. BNP Paribas Exane boosted their price objective on shares of Chipotle Mexican Grill from $37.00 to $39.00 and gave the company a “neutral” rating in a research note on Thursday, April 30th. TD Cowen reaffirmed a “buy” rating and issued a $44.00 target price on shares of Chipotle Mexican Grill in a research report on Thursday, April 30th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $45.00 target price on shares of Chipotle Mexican Grill in a report on Thursday, April 30th. Morgan Stanley set a $37.00 price target on Chipotle Mexican Grill and gave the company an “equal weight” rating in a research report on Wednesday, June 3rd. Finally, Weiss Ratings upgraded Chipotle Mexican Grill from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, June 25th. Twenty-three equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $43.86.

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.