Horan Capital Management Reduces Position in Chipotle Mexican Grill, Inc. (CMG)

Horan Capital Management reduced its position in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG) by 24.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,283 shares of the restaurant operator’s stock after selling 2,713 shares during the period. Chipotle Mexican Grill comprises approximately 1.1% of Horan Capital Management’s holdings, making the stock its 25th largest holding. Horan Capital Management’s holdings in Chipotle Mexican Grill were worth $5,883,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the stock. First Hawaiian Bank grew its stake in shares of Chipotle Mexican Grill by 4.5% in the fourth quarter. First Hawaiian Bank now owns 465 shares of the restaurant operator’s stock worth $201,000 after purchasing an additional 20 shares in the last quarter. Bessemer Group Inc. grew its stake in shares of Chipotle Mexican Grill by 4.9% in the fourth quarter. Bessemer Group Inc. now owns 447 shares of the restaurant operator’s stock worth $193,000 after purchasing an additional 21 shares in the last quarter. Huntington National Bank grew its stake in shares of Chipotle Mexican Grill by 19.9% in the fourth quarter. Huntington National Bank now owns 169 shares of the restaurant operator’s stock worth $73,000 after purchasing an additional 28 shares in the last quarter. Emerald Advisers LLC grew its stake in shares of Chipotle Mexican Grill by 1.7% in the fourth quarter. Emerald Advisers LLC now owns 2,454 shares of the restaurant operator’s stock worth $1,060,000 after purchasing an additional 40 shares in the last quarter. Finally, State of Alaska Department of Revenue grew its stake in shares of Chipotle Mexican Grill by 0.7% in the fourth quarter. State of Alaska Department of Revenue now owns 6,270 shares of the restaurant operator’s stock worth $2,705,000 after purchasing an additional 42 shares in the last quarter. 93.07% of the stock is currently owned by institutional investors and hedge funds.

Chipotle Mexican Grill stock traded down $0.17 during mid-day trading on Monday, hitting $712.27. The company’s stock had a trading volume of 267,753 shares, compared to its average volume of 691,963. The company has a market cap of $19.76 billion, a P/E ratio of 78.62, a P/E/G ratio of 3.23 and a beta of 0.68. Chipotle Mexican Grill, Inc. has a 52-week low of $318.11 and a 52-week high of $721.21.

Chipotle Mexican Grill (NYSE:CMG) last posted its quarterly earnings results on Wednesday, February 6th. The restaurant operator reported $1.72 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.38 by $0.34. Chipotle Mexican Grill had a return on equity of 17.64% and a net margin of 3.63%. The company had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.20 billion. During the same period last year, the business earned $1.34 EPS. The business’s quarterly revenue was up 10.4% on a year-over-year basis. Research analysts forecast that Chipotle Mexican Grill, Inc. will post 12.42 earnings per share for the current year.

Several research analysts have recently issued reports on the company. Jefferies Financial Group cut Chipotle Mexican Grill from a “buy” rating to a “hold” rating and increased their price target for the stock from $600.00 to $700.00 in a research note on Thursday. Piper Jaffray Companies increased their price target on Chipotle Mexican Grill from $725.00 to $755.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 10th. Stifel Nicolaus reissued a “hold” rating on shares of Chipotle Mexican Grill in a research note on Monday, April 8th. Robert W. Baird reissued an “outperform” rating and issued a $760.00 price target (up previously from $650.00) on shares of Chipotle Mexican Grill in a research note on Wednesday, March 27th. Finally, Wedbush raised Chipotle Mexican Grill from an “underperform” rating to a “neutral” rating and raised their target price for the company from $500.00 to $640.00 in a research note on Friday, March 22nd. Seven research analysts have rated the stock with a sell rating, sixteen have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. Chipotle Mexican Grill currently has an average rating of “Hold” and an average price target of $554.55.

In other news, Director Pershing Square Capital Manage sold 20,000 shares of the stock in a transaction dated Tuesday, February 12th. The stock was sold at an average price of $594.65, for a total transaction of $11,893,000.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Jack Hartung sold 7,150 shares of the stock in a transaction dated Tuesday, February 12th. The shares were sold at an average price of $606.77, for a total value of $4,338,405.50. Following the transaction, the chief financial officer now directly owns 45,237 shares in the company, valued at approximately $27,448,454.49. The disclosure for this sale can be found here. Insiders have sold a total of 51,788 shares of company stock valued at $31,629,459 over the last ninety days. Company insiders own 2.21% of the company’s stock.

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About Chipotle Mexican Grill

Chipotle Mexican Grill, Inc, together with its subsidiaries, operates Chipotle Mexican Grill restaurants. As of December 31, 2018, it operated approximately 2,500 restaurants in the United States, Canada, the United Kingdom, France, and Germany. 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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