Steadfast Capital Management LP Lowers Stake in Chipotle Mexican Grill, Inc. (NYSE:CMG)

Steadfast Capital Management LP cut its position in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG) by 63.6% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 685,074 shares of the restaurant operator’s stock after selling 1,197,326 shares during the quarter. Steadfast Capital Management LP’s holdings in Chipotle Mexican Grill were worth $41,310,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Alliancebernstein L.P. grew its holdings in Chipotle Mexican Grill by 29.5% in the fourth quarter. Alliancebernstein L.P. now owns 30,100,520 shares of the restaurant operator’s stock valued at $1,815,061,000 after purchasing an additional 6,853,470 shares during the period. Geode Capital Management LLC grew its holdings in Chipotle Mexican Grill by 1.4% in the fourth quarter. Geode Capital Management LLC now owns 28,476,031 shares of the restaurant operator’s stock valued at $1,712,238,000 after purchasing an additional 395,053 shares during the period. American Century Companies Inc. grew its holdings in Chipotle Mexican Grill by 0.8% in the fourth quarter. American Century Companies Inc. now owns 20,236,980 shares of the restaurant operator’s stock valued at $1,220,290,000 after purchasing an additional 166,767 shares during the period. Norges Bank purchased a new stake in Chipotle Mexican Grill in the fourth quarter valued at approximately $1,093,345,000. Finally, Northern Trust Corp grew its holdings in Chipotle Mexican Grill by 11.1% in the fourth quarter. Northern Trust Corp now owns 14,443,085 shares of the restaurant operator’s stock valued at $870,918,000 after purchasing an additional 1,438,860 shares during the period. 91.31% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on CMG shares. Stifel Nicolaus lowered their target price on shares of Chipotle Mexican Grill from $68.00 to $65.00 and set a “buy” rating for the company in a report on Wednesday, March 19th. Barclays reduced their price target on shares of Chipotle Mexican Grill from $60.00 to $56.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 22nd. Raymond James reduced their price target on shares of Chipotle Mexican Grill from $72.00 to $69.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 28th. Argus cut shares of Chipotle Mexican Grill from a “buy” rating to a “hold” rating in a research report on Monday, April 28th. Finally, Guggenheim set a $47.00 price target on shares of Chipotle Mexican Grill in a research report on Friday, April 25th. Nine analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Chipotle Mexican Grill currently has an average rating of “Moderate Buy” and an average target price of $61.74.

Chipotle Mexican Grill Price Performance

CMG stock opened at $52.32 on Friday. The firm has a fifty day moving average price of $49.72 and a two-hundred day moving average price of $55.43. The firm has a market cap of $70.49 billion, a price-to-earnings ratio of 47.12, a PEG ratio of 2.04 and a beta of 1.11. Chipotle Mexican Grill, Inc. has a 1-year low of $44.46 and a 1-year high of $69.26.

Chipotle Mexican Grill (NYSE:CMG) last released its quarterly earnings results on Wednesday, April 23rd. The restaurant operator reported $0.29 EPS for the quarter, topping the consensus estimate of $0.28 by $0.01. The business had revenue of $2.88 billion during the quarter, compared to analyst estimates of $2.98 billion. Chipotle Mexican Grill had a net margin of 13.56% and a return on equity of 42.92%. The company’s quarterly revenue was up 6.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $13.37 earnings per share. As a group, analysts expect that Chipotle Mexican Grill, Inc. will post 1.29 EPS for the current fiscal year.

Chipotle Mexican Grill Company Profile

Chipotle Mexican Grill, Inc, together with its subsidiaries, owns and operates Chipotle Mexican Grill restaurants. It sells food and beverages through offering burritos, burrito bowls, quesadillas, tacos, and salads. The company also provides delivery and related services its app and website. It has operations in the United States, Canada, France, Germany, and the United Kingdom.