Bank of Nova Scotia Sells 112,618 Shares of Chipotle Mexican Grill, Inc. (CMG)

Bank of Nova Scotia lessened its holdings in Chipotle Mexican Grill, Inc. (NYSE:CMG) by 78.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 30,454 shares of the restaurant operator’s stock after selling 112,618 shares during the period. Bank of Nova Scotia owned 0.11% of Chipotle Mexican Grill worth $12,672,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. FNY Managed Accounts LLC acquired a new position in shares of Chipotle Mexican Grill in the first quarter valued at approximately $107,000. Korea Investment CORP raised its position in shares of Chipotle Mexican Grill by 140.2% in the second quarter. Korea Investment CORP now owns 269 shares of the restaurant operator’s stock valued at $112,000 after buying an additional 157 shares during the last quarter. Harbour Capital Advisors LLC acquired a new position in shares of Chipotle Mexican Grill in the first quarter valued at approximately $121,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its position in shares of Chipotle Mexican Grill by 15.7% in the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 406 shares of the restaurant operator’s stock valued at $140,000 after buying an additional 55 shares during the last quarter. Finally, OLD Mutual Customised Solutions Proprietary Ltd. raised its position in shares of Chipotle Mexican Grill by 84.5% in the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 369 shares of the restaurant operator’s stock valued at $164,000 after buying an additional 169 shares during the last quarter. 90.04% of the stock is currently owned by institutional investors.

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A number of equities analysts have recently weighed in on CMG shares. Vetr raised shares of Chipotle Mexican Grill from a “buy” rating to a “strong-buy” rating and set a $511.86 price objective for the company in a research report on Thursday, June 15th. Maxim Group reissued a “hold” rating and issued a $440.00 price objective on shares of Chipotle Mexican Grill in a research report on Tuesday, June 20th. BTIG Research reissued a “neutral” rating on shares of Chipotle Mexican Grill in a research report on Tuesday, June 20th. Instinet reissued a “neutral” rating and issued a $480.00 price objective (down previously from $510.00) on shares of Chipotle Mexican Grill in a research report on Tuesday, June 20th. Finally, Canaccord Genuity reissued a “hold” rating and issued a $440.00 price objective on shares of Chipotle Mexican Grill in a research report on Tuesday, June 20th. Seven investment analysts have rated the stock with a sell rating, twenty-three have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $392.13.

Chipotle Mexican Grill, Inc. (CMG) traded up 1.05% during trading on Friday, reaching $317.47. 267,095 shares of the company’s stock traded hands. The firm’s 50 day moving average is $310.60 and its 200-day moving average is $395.62. Chipotle Mexican Grill, Inc. has a 12 month low of $295.11 and a 12 month high of $499.00. The company has a market capitalization of $9.05 billion, a price-to-earnings ratio of 68.24 and a beta of 0.60.

Chipotle Mexican Grill (NYSE:CMG) last released its quarterly earnings results on Tuesday, July 25th. The restaurant operator reported $2.32 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.16 by $0.16. Chipotle Mexican Grill had a return on equity of 10.65% and a net margin of 3.17%. The business had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.19 billion. During the same period in the previous year, the business posted $0.87 earnings per share. The firm’s revenue for the quarter was up 17.1% compared to the same quarter last year. Analysts expect that Chipotle Mexican Grill, Inc. will post $7.47 EPS for the current fiscal year.

Chipotle Mexican Grill Company Profile

Chipotle Mexican Grill, Inc (Chipotle), together with its subsidiaries, operates Chipotle Mexican Grill restaurants. The Company’s Chipotle Mexican Grill restaurants serve a menu of burritos, tacos, burrito bowls (a burrito without the tortilla) and salads. As of December 31, 2016, the Company managed its operations and restaurants based on 11 regions.

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

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