Wellington Management Group LLP Sells 1,868,785 Shares of Chipotle Mexican Grill, Inc. $CMG

Wellington Management Group LLP lessened its stake in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG) by 93.2% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 136,590 shares of the restaurant operator’s stock after selling 1,868,785 shares during the period. Wellington Management Group LLP’s holdings in Chipotle Mexican Grill were worth $4,644,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of CMG. Wealth Watch Advisors INC acquired a new stake in shares of Chipotle Mexican Grill in the 3rd quarter valued at approximately $25,000. MV Capital Management Inc. bought a new stake in Chipotle Mexican Grill during the fourth quarter worth $26,000. Osbon Capital Management LLC bought a new stake in Chipotle Mexican Grill during the second quarter worth $26,000. Meeder Asset Management Inc. acquired a new stake in Chipotle Mexican Grill in the second quarter valued at $27,000. Finally, Merkkuri Wealth Advisors LLC acquired a new stake in Chipotle Mexican Grill in the first quarter valued at $28,000. 91.30% of the stock is owned by institutional investors and hedge funds.

Chipotle Mexican Grill Stock Performance

NYSE CMG opened at $36.01 on Thursday. The stock has a market cap of $45.56 billion, a PE ratio of 33.03, a P/E/G ratio of 2.26 and a beta of 0.94. The firm has a 50-day moving average of $35.08 and a 200-day moving average of $33.90. Chipotle Mexican Grill, Inc. has a 52-week low of $28.03 and a 52-week high of $42.81.

Chipotle Mexican Grill (NYSE:CMG) last announced its quarterly earnings results on Wednesday, July 29th. The restaurant operator reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.01. The business had revenue of $3.35 billion for the quarter, compared to analyst estimates of $3.33 billion. Chipotle Mexican Grill had a net margin of 11.43% and a return on equity of 54.65%. Chipotle Mexican Grill’s quarterly revenue was up 9.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.33 EPS. As a group, analysts predict that Chipotle Mexican Grill, Inc. will post 1.15 EPS for the current fiscal year.

Insider Activity

In other news, insider Matthew R. Bush sold 2,675 shares of the business’s stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $35.75, for a total transaction of $95,631.25. Following the completion of the sale, the insider owned 21,415 shares in the company, valued at $765,586.25. The trade was a 11.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.45% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on CMG shares. Morgan Stanley boosted their price objective on shares of Chipotle Mexican Grill from $37.00 to $39.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 30th. Bank of America reiterated a “buy” rating and set a $53.00 price target (up from $50.00) on shares of Chipotle Mexican Grill in a report on Tuesday, September 1st. UBS Group reissued a “buy” rating on shares of Chipotle Mexican Grill in a research report on Friday, July 31st. Argus upped their price objective on Chipotle Mexican Grill from $40.00 to $45.00 and gave the company a “buy” rating in a research note on Tuesday, August 4th. Finally, Guggenheim reaffirmed a “neutral” rating and issued a $36.00 price objective (up from $35.00) on shares of Chipotle Mexican Grill in a research report on Friday, July 31st. Twenty-three analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $43.84.

Chipotle Mexican Grill Company Profile

Chipotle Mexican Grill, Inc is a fast-casual restaurant company that operates restaurants under the Chipotle Mexican Grill brand. Its menu centers on customizable Mexican-inspired food, including burritos, bowls, tacos and salads, along with sides, beverages and children’s meals.

The company emphasizes cooking with responsibly sourced ingredients and preparing food in its restaurants. Customers can order meals in person, through digital ordering channels, for pickup or delivery. Chipotle serves customers primarily in the United States, with additional restaurants in Canada, the United Kingdom, France and Germany.

Chipotle was founded in 1993 by Steve Ells in Denver, Colorado.