Needelman Asset Management Inc Lowers stake in Chipotle Mexican Grill (CMG)

Chipotle Mexican Grill (CMG) : Needelman Asset Management Inc reduced its stake in Chipotle Mexican Grill by 0.23% during the most recent quarter end. The investment management company now holds a total of 2,148 shares of Chipotle Mexican Grill which is valued at $880,272 after selling 5 shares in Chipotle Mexican Grill , the firm said in a disclosure report filed with the SEC on Oct 13, 2016.Chipotle Mexican Grill makes up approximately 2.71% of Needelman Asset Management Inc’s portfolio.

Other Hedge Funds, Including , Cutler Group Lp reduced its stake in CMG by selling 100 shares or 50.0% in the most recent quarter. The Hedge Fund company now holds 100 shares of CMG which is valued at $43,788.Raymond James Trust N.a. boosted its stake in CMG in the latest quarter, The investment management firm added 4 additional shares and now holds a total of 885 shares of Chipotle Mexican Grill which is valued at $387,524. Chipotle Mexican Grill makes up approx 0.03% of Raymond James Trust N.a.’s portfolio. First American Trust Fsb sold out all of its stake in CMG during the most recent quarter. The investment firm sold 4,305 shares of CMG which is valued $1,841,851.

Chipotle Mexican Grill closed down -14.86 points or -3.39% at $423.02 with 20,31,257 shares getting traded on Tuesday. Post opening the session at $437.74, the shares hit an intraday low of $418 and an intraday high of $437.74 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

On the company’s financial health, Chipotle Mexican Grill reported $-0.88 EPS for the quarter, beating the analyst consensus estimate by $ 0.17 according to the earnings call on Apr 26, 2016. Analyst had a consensus of $-1.05. The company had revenue of $834.50 million for the quarter, compared to analysts expectations of $863.24 million. The company’s revenue was down -23.4 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $3.88 EPS.

Many Wall Street Analysts have commented on Chipotle Mexican Grill. Shares were Reiterated by Goldman on Sep 21, 2016 to “Neutral” and Lowered the Price Target to $ 395 from a previous price target of $445 .Shares were Reiterated by Piper Jaffray on Sep 8, 2016 to “Overweight” and Lowered the Price Target to $ 483 from a previous price target of $590 .Stifel Downgraded Chipotle Mexican Grill on Jul 26, 2016 to ” Sell”, Price Target of the shares are set at $215.

Chipotle Mexican Grill Inc. (Chipotle) develops and operates Chipotle Mexican Grill restaurants which serve a focused menu of burritos tacos burrito bowls (a burrito without the tortilla) and salads. The Company operates 1755 restaurants in the United States seven in Canada six in England three in France and one in Germany. The Company’s restaurants also include nine ShopHouse Southeast Asian Kitchen restaurants. The Company owns and operates two Pizzeria Locale restaurants a fast casual pizza concept. It also provides a variety of extras such as guacamole salsas and tortilla chips seasoned with fresh lime juice and kosher salt. Its restaurants also offer sodas fruit drinks organic milk beer and margaritas. The average restaurant size is about 2550 square feet and seats about 58 people. The Company’s restaurants also feature outdoor patio space. The Company’s restaurants accept orders by fax online or through an iPhone or Android ordering application.

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