ING Groep NV Sells 64,860 Shares of Chipotle Mexican Grill, Inc. $CMG

ING Groep NV decreased its position in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG) by 25.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 187,165 shares of the restaurant operator’s stock after selling 64,860 shares during the quarter. ING Groep NV’s holdings in Chipotle Mexican Grill were worth $6,925,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of Chipotle Mexican Grill by 14.8% during the 4th quarter. Vanguard Group Inc. now owns 144,588,220 shares of the restaurant operator’s stock worth $5,349,764,000 after buying an additional 18,660,882 shares in the last quarter. Capital World Investors grew its position in shares of Chipotle Mexican Grill by 15.8% during the 4th quarter. Capital World Investors now owns 101,688,010 shares of the restaurant operator’s stock worth $3,762,457,000 after buying an additional 13,843,222 shares in the last quarter. Capital International Investors boosted its position in Chipotle Mexican Grill by 17.7% during the fourth quarter. Capital International Investors now owns 45,294,212 shares of the restaurant operator’s stock valued at $1,675,895,000 after purchasing an additional 6,796,285 shares in the last quarter. Norges Bank bought a new stake in Chipotle Mexican Grill during the fourth quarter valued at about $711,837,000. Finally, Sustainable Growth Advisers LP boosted its position in Chipotle Mexican Grill by 17.5% during the third quarter. Sustainable Growth Advisers LP now owns 12,495,638 shares of the restaurant operator’s stock valued at $489,704,000 after purchasing an additional 1,862,855 shares in the last quarter. Institutional investors own 91.30% of the company’s stock.

Chipotle Mexican Grill Stock Performance

Shares of NYSE CMG opened at $29.27 on Tuesday. The company has a market cap of $37.55 billion, a PE ratio of 26.86, a P/E/G ratio of 1.89 and a beta of 0.99. The business has a 50-day simple moving average of $32.81 and a two-hundred day simple moving average of $35.22. Chipotle Mexican Grill, Inc. has a fifty-two week low of $28.03 and a fifty-two week high of $58.42.

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

Analyst Upgrades and Downgrades

CMG has been the topic of a number of recent research reports. Citigroup raised their price objective on Chipotle Mexican Grill from $44.00 to $46.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. DA Davidson initiated coverage on Chipotle Mexican Grill in a research report on Friday, March 6th. They set a “buy” rating and a $51.00 price objective on the stock. Argus raised Chipotle Mexican Grill from a “hold” rating to a “buy” rating and set a $40.00 price objective on the stock in a research report on Tuesday, May 5th. Zacks Research raised Chipotle Mexican Grill from a “strong sell” rating to a “hold” rating in a research report on Friday, April 17th. Finally, Stephens raised their price objective on Chipotle Mexican Grill from $38.00 to $39.00 and gave the company an “equal weight” rating in a research report on Thursday, April 30th. Twenty-four investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $45.48.

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.