Nippon Life Global Investors Americas Inc. Reduces Position in Chipotle Mexican Grill, Inc. (NYSE:CMG)

Nippon Life Global Investors Americas Inc. lessened its holdings in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG) by 19.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,750 shares of the restaurant operator’s stock after selling 3,900 shares during the period. Nippon Life Global Investors Americas Inc. owned about 0.06% of Chipotle Mexican Grill worth $11,542,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. FMR LLC boosted its holdings in shares of Chipotle Mexican Grill by 88.7% in the first quarter. FMR LLC now owns 1,143,585 shares of the restaurant operator’s stock valued at $812,301,000 after purchasing an additional 537,677 shares during the period. Norges Bank purchased a new stake in shares of Chipotle Mexican Grill in the fourth quarter valued at approximately $104,491,000. Investec Asset Management LTD purchased a new stake in shares of Chipotle Mexican Grill in the first quarter valued at approximately $95,731,000. Banco Santander S.A. boosted its holdings in shares of Chipotle Mexican Grill by 169.1% in the first quarter. Banco Santander S.A. now owns 117,755 shares of the restaurant operator’s stock valued at $83,642,000 after purchasing an additional 74,001 shares during the period. Finally, Jennison Associates LLC boosted its holdings in shares of Chipotle Mexican Grill by 6.6% in the first quarter. Jennison Associates LLC now owns 862,319 shares of the restaurant operator’s stock valued at $612,514,000 after purchasing an additional 53,501 shares during the period. Institutional investors and hedge funds own 94.99% of the company’s stock.

CMG has been the subject of a number of research reports. Jefferies Financial Group lowered Chipotle Mexican Grill from a “buy” rating to a “hold” rating and boosted their price target for the company from $600.00 to $700.00 in a report on Thursday, April 11th. TheStreet upgraded Chipotle Mexican Grill from a “c+” rating to a “b” rating in a report on Wednesday, April 24th. ValuEngine lowered Chipotle Mexican Grill from a “strong-buy” rating to a “buy” rating in a report on Thursday. Citigroup boosted their price target on Chipotle Mexican Grill from $695.00 to $797.00 and gave the company a “buy” rating in a report on Thursday, June 6th. Finally, Credit Suisse Group boosted their price target on Chipotle Mexican Grill from $870.00 to $880.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Seven investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and fifteen have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $700.26.

Chipotle Mexican Grill stock traded down $0.08 during mid-day trading on Friday, reaching $790.35. 44,687 shares of the company were exchanged, compared to its average volume of 509,541. The firm’s fifty day moving average is $747.35. The company has a debt-to-equity ratio of 1.65, a quick ratio of 1.48 and a current ratio of 1.52. The firm has a market cap of $21.92 billion, a price-to-earnings ratio of 87.23, a P/E/G ratio of 3.25 and a beta of 0.67. Chipotle Mexican Grill, Inc. has a 12-month low of $383.20 and a 12-month high of $811.95.

Chipotle Mexican Grill (NYSE:CMG) last posted its earnings results on Tuesday, July 23rd. The restaurant operator reported $3.99 earnings per share for the quarter, topping analysts’ consensus estimates of $3.68 by $0.31. The company had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.41 billion. Chipotle Mexican Grill had a return on equity of 21.50% and a net margin of 4.80%. Chipotle Mexican Grill’s revenue was up 13.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.87 earnings per share. As a group, equities research analysts predict that Chipotle Mexican Grill, Inc. will post 13.2 EPS for the current fiscal year.

In other news, CTO Curtis E. Garner sold 9,276 shares of the company’s stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $738.02, for a total transaction of $6,845,873.52. Following the transaction, the chief technology officer now directly owns 15,780 shares of the company’s stock, valued at $11,645,955.60. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Steve Ells sold 28,645 shares of the company’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $802.66, for a total value of $22,992,195.70. Following the transaction, the insider now directly owns 183,580 shares in the company, valued at $147,352,322.80. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 124,175 shares of company stock worth $92,812,691. Insiders own 2.21% of the company’s stock.

Chipotle Mexican Grill Company 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.

Further Reading: Economic Bubble

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

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