Nordea Investment Management AB Sells 284,633 Shares of Chipotle Mexican Grill, Inc. $CMG

Nordea Investment Management AB decreased its holdings in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG) by 11.1% in the 2nd quarter, Holdings Channel.com reports. The firm owned 2,290,764 shares of the restaurant operator’s stock after selling 284,633 shares during the quarter. Nordea Investment Management AB’s holdings in Chipotle Mexican Grill were worth $128,168,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in CMG. Nuveen LLC bought a new stake in Chipotle Mexican Grill during the 1st quarter valued at approximately $535,023,000. Goldman Sachs Group Inc. lifted its position in shares of Chipotle Mexican Grill by 98.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 9,900,521 shares of the restaurant operator’s stock worth $497,105,000 after acquiring an additional 4,903,969 shares during the period. Montrusco Bolton Investments Inc. lifted its position in shares of Chipotle Mexican Grill by 5,319.7% in the 1st quarter. Montrusco Bolton Investments Inc. now owns 4,848,990 shares of the restaurant operator’s stock worth $235,580,000 after acquiring an additional 4,759,520 shares during the period. Price T Rowe Associates Inc. MD lifted its position in shares of Chipotle Mexican Grill by 7.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 56,827,332 shares of the restaurant operator’s stock worth $2,853,302,000 after acquiring an additional 4,027,016 shares during the period. Finally, Manning & Napier Advisors LLC bought a new stake in shares of Chipotle Mexican Grill in the 1st quarter worth approximately $127,892,000. Institutional investors own 91.30% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on the company. Stifel Nicolaus reduced their price objective on Chipotle Mexican Grill from $65.00 to $60.00 and set a “buy” rating for the company in a research report on Tuesday, September 9th. BTIG Research reiterated a “buy” rating and issued a $57.00 price objective on shares of Chipotle Mexican Grill in a research report on Friday, September 5th. Melius assumed coverage on Chipotle Mexican Grill in a research report on Monday, July 14th. They issued a “hold” rating and a $60.00 price objective for the company. Piper Sandler upgraded Chipotle Mexican Grill from a “neutral” rating to an “overweight” rating and reduced their price objective for the stock from $53.00 to $50.00 in a research report on Tuesday, August 12th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Chipotle Mexican Grill in a research report on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $57.55.

Chipotle Mexican Grill Trading Up 0.4%

Shares of CMG opened at $41.93 on Friday. Chipotle Mexican Grill, Inc. has a 1 year low of $38.30 and a 1 year high of $66.74. The stock has a 50 day simple moving average of $41.11 and a 200-day simple moving average of $47.35. The stock has a market cap of $56.22 billion, a PE ratio of 37.43, a PEG ratio of 2.52 and a beta of 0.99.

Chipotle Mexican Grill (NYSE:CMG) last issued its earnings results on Wednesday, July 23rd. The restaurant operator reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.01. Chipotle Mexican Grill had a return on equity of 43.50% and a net margin of 13.32%.The business had revenue of $3.06 billion during the quarter, compared to analysts’ expectations of $3.11 billion. During the same period in the prior year, the firm posted $0.34 EPS. Chipotle Mexican Grill’s quarterly revenue was up 3.0% compared to the same quarter last year. On average, sell-side analysts forecast that Chipotle Mexican Grill, Inc. will post 1.29 EPS for the current fiscal year.

About Chipotle Mexican Grill

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.