Lazard Asset Management LLC Lowers Stock Position in Chipotle Mexican Grill, Inc. (NYSE:CMG)

Lazard Asset Management LLC cut its position in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG) by 7.9% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 13,265 shares of the restaurant operator’s stock after selling 1,134 shares during the quarter. Lazard Asset Management LLC’s holdings in Chipotle Mexican Grill were worth $38,557,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in CMG. Norges Bank purchased a new stake in Chipotle Mexican Grill during the fourth quarter worth $805,529,000. International Assets Investment Management LLC lifted its holdings in Chipotle Mexican Grill by 220,249.6% during the fourth quarter. International Assets Investment Management LLC now owns 301,879 shares of the restaurant operator’s stock valued at $6,903,850,000 after purchasing an additional 301,742 shares in the last quarter. Global Assets Advisory LLC purchased a new position in Chipotle Mexican Grill during the first quarter valued at $167,256,000. 1832 Asset Management L.P. purchased a new position in Chipotle Mexican Grill during the fourth quarter valued at $100,535,000. Finally, DSM Capital Partners LLC lifted its holdings in Chipotle Mexican Grill by 139.2% during the fourth quarter. DSM Capital Partners LLC now owns 68,736 shares of the restaurant operator’s stock valued at $157,196,000 after purchasing an additional 40,000 shares in the last quarter. 91.31% of the stock is owned by hedge funds and other institutional investors.

Chipotle Mexican Grill Stock Down 1.9 %

Shares of CMG traded down $0.99 during trading on Friday, reaching $49.83. 24,611,086 shares of the company traded hands, compared to its average volume of 19,298,044. Chipotle Mexican Grill, Inc. has a twelve month low of $35.37 and a twelve month high of $69.26. The stock has a market cap of $68.43 billion, a PE ratio of 53.17, a price-to-earnings-growth ratio of 2.00 and a beta of 1.24. The stock has a 50-day simple moving average of $125.36 and a 200-day simple moving average of $79.76.

Chipotle Mexican Grill (NYSE:CMG) last announced its quarterly earnings results on Wednesday, July 24th. The restaurant operator reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.02. Chipotle Mexican Grill had a net margin of 13.23% and a return on equity of 44.01%. The business had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $2.94 billion. During the same period last year, the business earned $12.65 earnings per share. The business’s revenue for the quarter was up 18.2% on a year-over-year basis. On average, equities research analysts predict that Chipotle Mexican Grill, Inc. will post 1.09 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have issued reports on CMG. Evercore ISI decreased their price objective on shares of Chipotle Mexican Grill from $72.00 to $65.00 and set an “outperform” rating on the stock in a report on Thursday. The Goldman Sachs Group decreased their price objective on shares of Chipotle Mexican Grill from $74.60 to $67.00 and set a “buy” rating on the stock in a report on Thursday. UBS Group increased their price objective on shares of Chipotle Mexican Grill from $68.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, April 25th. Jefferies Financial Group increased their price objective on shares of Chipotle Mexican Grill from $47.00 to $54.00 and gave the company a “hold” rating in a report on Tuesday, April 16th. Finally, Argus raised their price target on shares of Chipotle Mexican Grill from $73.36 to $77.76 and gave the stock a “buy” rating in a research note on Tuesday, June 18th. Eleven analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat, Chipotle Mexican Grill presently has a consensus rating of “Moderate Buy” and a consensus target price of $62.88.

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.