Cim LLC Decreases Stake in Chipotle Mexican Grill, Inc. $CMG

Cim LLC lessened its position in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG) by 37.6% in the 1st quarter, HoldingsChannel reports. The fund owned 266,691 shares of the restaurant operator’s stock after selling 160,661 shares during the period. Chipotle Mexican Grill accounts for about 1.2% of Cim LLC’s portfolio, making the stock its 25th biggest holding. Cim LLC’s holdings in Chipotle Mexican Grill were worth $8,536,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of CMG. Wealth Watch Advisors INC purchased a new stake in shares of Chipotle Mexican Grill during the 3rd quarter worth $25,000. MV Capital Management Inc. purchased a new position in Chipotle Mexican Grill in the fourth quarter valued at $26,000. Osbon Capital Management LLC purchased a new position in Chipotle Mexican Grill in the fourth quarter valued at $28,000. Merkkuri Wealth Advisors LLC acquired a new stake in Chipotle Mexican Grill in the first quarter valued at $28,000. Finally, Rule One Partners LLC acquired a new stake in Chipotle Mexican Grill in the first quarter valued at $32,000. 91.30% of the stock is currently owned by institutional investors and hedge funds.

Chipotle Mexican Grill News Summary

Here are the key news stories impacting Chipotle Mexican Grill this week:

• Positive Sentiment: Quarterly results beat expectations: Chipotle reported adjusted earnings of $0.33 per share, above the $0.32 consensus estimate, while revenue rose 9.3% year over year to $3.35 billion, slightly exceeding expectations. Chipotle: Q2 Earnings Snapshot
• Positive Sentiment: Comparable sales momentum improved: Comparable restaurant sales grew 2.2%, marking a second consecutive quarter of improving transaction trends. Value offers, menu updates and the company’s “Recipe for Growth” strategy helped attract diners in a competitive market. Chipotle raises annual sales forecast
• Positive Sentiment: Full-year outlook was raised: Chipotle increased its comparable-sales guidance, signaling that management expects the second-quarter improvement to continue. The company also opened 100 restaurants during the quarter, supporting long-term revenue growth. Chipotle raises full-year comparable sales guidance
• Neutral Sentiment: Food-safety concerns may be temporary: The company said it was not involved in the reported cyclospora outbreak, although fears related to a lettuce-linked illness reportedly reduced traffic in the second half of July. Chipotle lifts its sales forecast despite outbreak concerns
• Negative Sentiment: Margins remain a risk: Although sales and earnings exceeded estimates, investors continue to monitor labor costs, restaurant-level margins and whether late-July traffic softness persists. Chipotle’s earnings were roughly flat from the prior-year quarter at $0.33 per share. Chipotle stock rises after earnings edge past estimates

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on CMG. BTIG Research reaffirmed a “buy” rating and set a $45.00 price objective on shares of Chipotle Mexican Grill in a research report on Thursday, April 30th. Zacks Research raised Chipotle Mexican Grill from a “strong sell” rating to a “hold” rating in a research report on Friday, April 17th. Argus raised Chipotle Mexican Grill from a “hold” rating to a “buy” rating and set a $40.00 target price on the stock in a research report on Tuesday, May 5th. Morgan Stanley set a $37.00 target price on Chipotle Mexican Grill and gave the stock an “equal weight” rating in a research note on Wednesday, June 3rd. Finally, Raymond James Financial lowered their price target on Chipotle Mexican Grill from $43.00 to $41.00 and set an “outperform” rating for the company in a report on Tuesday, April 21st. Twenty-three equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Chipotle Mexican Grill currently has an average rating of “Moderate Buy” and an average target price of $43.86.

Chipotle Mexican Grill Price Performance

NYSE CMG opened at $34.32 on Thursday. Chipotle Mexican Grill, Inc. has a 1 year low of $28.03 and a 1 year high of $44.54. The company has a market capitalization of $44.02 billion, a PE ratio of 31.49, a P/E/G ratio of 2.19 and a beta of 0.97. The company has a fifty day moving average of $32.65 and a two-hundred day moving average of $34.61.

Chipotle Mexican Grill (NYSE:CMG) last issued its quarterly earnings data on Wednesday, July 29th. The restaurant operator reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.01. Chipotle Mexican Grill had a return on equity of 49.64% and a net margin of 11.96%.The company had revenue of $3.35 billion for the quarter, compared to analyst estimates of $3.33 billion. During the same quarter last year, the company posted $0.33 earnings per share. The business’s quarterly revenue was up 9.3% compared to the same quarter last year. On average, research analysts expect that Chipotle Mexican Grill, Inc. will post 1.13 earnings per share for the current year.

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.