PNC Financial Services Group Inc. Decreases Holdings in Chipotle Mexican Grill, Inc. (NYSE:CMG)

PNC Financial Services Group Inc. cut its stake in Chipotle Mexican Grill, Inc. (NYSE:CMG) by 1.6% in the 1st quarter, HoldingsChannel reports. The firm owned 4,122 shares of the restaurant operator’s stock after selling 66 shares during the period. PNC Financial Services Group Inc.’s holdings in Chipotle Mexican Grill were worth $2,929,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of CMG. Norges Bank bought a new position in Chipotle Mexican Grill in the 4th quarter worth $104,491,000. Massachusetts Financial Services Co. MA grew its position in shares of Chipotle Mexican Grill by 101.1% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 307,230 shares of the restaurant operator’s stock worth $132,659,000 after buying an additional 154,428 shares during the period. Investec Asset Management LTD purchased a new stake in shares of Chipotle Mexican Grill in the 1st quarter worth about $95,731,000. American Century Companies Inc. grew its position in shares of Chipotle Mexican Grill by 42.3% in the 4th quarter. American Century Companies Inc. now owns 443,485 shares of the restaurant operator’s stock worth $191,492,000 after buying an additional 131,803 shares during the period. Finally, Macquarie Group Ltd. grew its position in shares of Chipotle Mexican Grill by 495.5% in the 4th quarter. Macquarie Group Ltd. now owns 127,864 shares of the restaurant operator’s stock worth $55,209,000 after buying an additional 106,394 shares during the period. Institutional investors and hedge funds own 95.08% of the company’s stock.

Shares of NYSE CMG traded up $6.70 during trading on Wednesday, reaching $735.94. 9,575 shares of the company traded hands, compared to its average volume of 670,914. The company has a quick ratio of 1.41, a current ratio of 1.44 and a debt-to-equity ratio of 1.69. The company has a market cap of $20.40 billion, a PE ratio of 81.21, a PEG ratio of 2.85 and a beta of 0.63. Chipotle Mexican Grill, Inc. has a 52-week low of $383.20 and a 52-week high of $730.41.

Chipotle Mexican Grill (NYSE:CMG) last announced its quarterly earnings results on Wednesday, April 24th. The restaurant operator reported $3.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.01 by $0.39. The firm had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.27 billion. Chipotle Mexican Grill had a net margin of 4.08% and a return on equity of 19.78%. The business’s quarterly revenue was up 13.9% compared to the same quarter last year. During the same quarter last year, the firm posted $2.13 EPS. As a group, equities research analysts anticipate that Chipotle Mexican Grill, Inc. will post 13 EPS for the current fiscal year.

A number of research firms have recently weighed in on CMG. Evercore ISI began coverage on shares of Chipotle Mexican Grill in a research report on Tuesday. They issued an “outperform” rating and a $825.00 target price on the stock. Maxim Group reaffirmed a “hold” rating and issued a $650.00 target price (up from $635.00) on shares of Chipotle Mexican Grill in a research report on Tuesday. Citigroup upped their target price on shares of Chipotle Mexican Grill from $695.00 to $797.00 and gave the stock a “buy” rating in a research report on Thursday, June 6th. BMO Capital Markets downgraded shares of Chipotle Mexican Grill from a “market perform” rating to an “underperform” rating and reduced their target price for the stock from $675.00 to $620.00 in a research report on Thursday, May 23rd. They noted that the move was a valuation call. Finally, Piper Jaffray Companies increased their price objective on shares of Chipotle Mexican Grill from $760.00 to $783.00 and gave the company an “overweight” rating in a research report on Monday, May 20th. Six equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $648.66.

In other news, CFO Jack Hartung sold 1,470 shares of the firm’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $680.00, for a total transaction of $999,600.00. Following the sale, the chief financial officer now owns 38,002 shares of the company’s stock, valued at approximately $25,841,360. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In the last ninety days, insiders have sold 7,751 shares of company stock worth $5,112,797. Insiders own 2.21% of the company’s stock.

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Chipotle Mexican Grill Profile

Chipotle Mexican Grill, Inc, together with its subsidiaries, operates Chipotle Mexican Grill restaurants. As of December 31, 2018, it operated 2,491 restaurants, including 2,452 Chipotle restaurants in the United States, 37 Chipotle restaurants internationally, and two non-Chipotle restaurants. The company was founded in 1993 and is headquartered in Newport Beach, California.

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Institutional Ownership by Quarter for Chipotle Mexican Grill (NYSE:CMG)

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