Parnassus Investments 13F: Exits CMG Stake
Key Points
- Parnassus Investments filed a Form 13F on October 22, 2026, revealing a complete exit from its 1,286,063-share stake in Chipotle Mexican Grill, Inc. (CMG).
- Other large institutional managers adjusted their holdings during the period, with Sustainable Growth Advisers cutting 2,321,577 shares to finish with 4,549,581 shares worth about $145.4 million.
- Chipotle shares recently traded around $28.13 on October 23, 2026, down from an event-day close of $28.14 on October 22.
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Parnassus Investments closed out its position in Chipotle Mexican Grill, Inc. (CMG), selling its entire holding of 1,286,063 shares. The exit appeared in a Form 13F filing with the U.S. Securities and Exchange Commission on October 22, 2026.
CMG
Chipotle Mexican Grill, Inc.
What Ended in Parnassus Investments' Chipotle Position
The fund held 1,286,063 shares of the restaurant chain before the reported quarter. By the end of the filing period, that number dropped to zero, marking a complete exit from the stock.
Other Institutional Activity in Chipotle
Other large funds also shifted their positions in the burrito chain during recent months. Sustainable Growth Advisers reduced its holdings by 2,321,577 shares, ending with 4,549,581 shares valued at about $145.4 million. Montrusco Bolton Investments cut its stake by 632,840 shares, leaving it with 2,462,514 shares worth roughly $78.7 million. Caption Management trimmed 537,580 shares to hold 82,420 shares valued at about $2.8 million. On the other side, Trexquant Investment grew its holdings by 2,410,548 shares for a total of 2,471,562 shares worth about $82.6 million. Ninety One UK opened a new position by acquiring 3,731,207 shares valued at about $119.2 million.
Chipotle Mexican Grill, Inc. Stock Down 5.1%
The stock closed at $28.14 on October 22, 2026, and recently traded around $28.13 on October 23. The shares sit near their 52-week low of $27.87 and well below their 52-week high of $42.38.
Recent Earnings
The company posted trailing-twelve-month revenue of $12.42 billion and earnings of $1.09 per share. Its next earnings report is scheduled for October 28, 2026.
Earnings drift grade
Outlook vs expectations on the last report — not price action.
-
Forward outlook
3 target cuts vs 2 raises.
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EPS & revenue
EPS met estimates. Revenue met estimates.
-
Profit surprise
EBITDA met by 0 percent. Operating income met by 1 percent.
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Pre-earnings setup
Expectations were about average.
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Analyst signal
1 upgrade, 2 target raises, 3 target cuts.
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Earnings quality
Gross margin up 42.2 points. Operating margin down 4.3 points. Positive free cash flow.
Earnings Call Summary
Chipotle reported first-quarter revenue of $3.1 billion, up seven point four percent year over year, with comparable sales growing zero point five percent driven by positive transaction growth. The company benefited from menu innovations including high-protein offerings, Chicken Al Pastor and cilantro-lime sauce, which together contributed meaningful sales lift. Management highlighted strong momentum continuing into April fueled by the new rewards program launch and menu innovation, while noting that the high-efficiency equipment rollout across now over 600 restaurants is generating hundreds of basis points of comparable sales outperformance in those locations.
Guidance Management reaffirmed their full-year comparable sales guidance at about flat but guided the second quarter toward positive one percent comparable sales growth. They expect continued pressure on restaurant margins from ingredient inflation in the second quarter but anticipate that pressure to ease in the second half of the year.
Negative report. Results or guidance disappointed and expectations are likely to move lower.
Dividend
The company does not pay a dividend, maintaining a dividend yield and payout ratio of zero.
Insider Buying and Selling at Chipotle Mexican Grill, Inc.
Company insiders executed several sales earlier in the year. President Curtis Evander Garner III sold 61,077 shares on February 6, 2026, at an average price of $40.01 for a total value of about $2.44 million. Director Patricia D Fili-Krushel sold 3,350 shares on February 24 at $36.58 for roughly $122,543. Officer Matthew R Bush sold 2,675 shares on August 21 at $35.75 for about $95,631.
Analysts Set New Price Targets
Wall Street firms updated their views ahead of the filing. Morgan Stanley kept an Equal-Weight rating with a $40 target on October 15, 2026. Raymond James maintained an Outperform rating on October 16 while lowering its target from $42.50 to $37.00. Citigroup kept a Buy rating on October 19 and moved its target from $45.00 to $43.00. Wells Fargo maintained an Overweight rating on October 21 and cut its target from $45.00 to $40.00. TD Cowen downgraded the stock to Hold on October 21, lowering its target from $44.00 to $32.00. Overall, the stock carries a consensus buy rating with a mean price target of $42.71 across 31 analyst opinions.
About Chipotle
Chipotle Mexican Grill, Inc. owns and operates fast-casual restaurants across the United States and internationally. Headquartered in Newport Beach, California, the company serves burritos, bowls, tacos, and salads made with responsibly sourced ingredients. Institutional portfolio adjustments like this one give market watchers a window into how large managers reallocate capital ahead of key earnings reports.
Bottom Line
Investors will look closely at the upcoming earnings release on October 28, 2026, for fresh details on customer traffic and profit margins. Future SEC filings will show whether other major funds follow Parnassus in trimming exposure to the restaurant operator.
Related Filing Alerts
Source: Parnassus Investments's 13F filing on $CMG (Oct 22, 2026). 13F filings show holdings as of the end of the reporting quarter and may not reflect the fund's current position. Written by software, not financial advice. How we make alerts