Canandaigua National Bank & Trust Co. bought a new stake in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG – Free Report) in the 2nd quarter, HoldingsChannel reports. The fund bought 46,914 shares of the restaurant operator’s stock, valued at approximately $1,595,000.
A number of other institutional investors and hedge funds also recently modified their holdings of CMG. Carderock Capital Management Inc. boosted its stake in Chipotle Mexican Grill by 120.0% in the second quarter. Carderock Capital Management Inc. now owns 15,597 shares of the restaurant operator’s stock valued at $530,000 after acquiring an additional 8,506 shares during the period. CoreCap Advisors LLC raised its position in shares of Chipotle Mexican Grill by 1.9% during the 2nd quarter. CoreCap Advisors LLC now owns 52,230 shares of the restaurant operator’s stock worth $1,776,000 after purchasing an additional 995 shares during the period. First Financial Corp IN raised its position in shares of Chipotle Mexican Grill by 6.0% during the 2nd quarter. First Financial Corp IN now owns 24,229 shares of the restaurant operator’s stock worth $824,000 after purchasing an additional 1,371 shares during the period. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Chipotle Mexican Grill by 18.8% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 3,408 shares of the restaurant operator’s stock worth $116,000 after purchasing an additional 540 shares during the last quarter. Finally, Hilltop National Bank boosted its position in Chipotle Mexican Grill by 1,059.3% during the 2nd quarter. Hilltop National Bank now owns 6,898 shares of the restaurant operator’s stock valued at $235,000 after purchasing an additional 6,303 shares during the period. 91.30% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
CMG has been the subject of a number of recent research reports. Raymond James Financial restated an “outperform” rating and set a $42.50 price objective on shares of Chipotle Mexican Grill in a research note on Thursday, July 30th. JPMorgan Chase & Co. raised shares of Chipotle Mexican Grill from a “neutral” rating to an “overweight” rating and reduced their price target for the company from $38.00 to $35.00 in a report on Friday, June 5th. Barclays lowered their price target on shares of Chipotle Mexican Grill from $40.00 to $38.00 and set an “equal weight” rating for the company in a research report on Thursday, April 30th. TD Cowen restated a “buy” rating and issued a $44.00 price target on shares of Chipotle Mexican Grill in a research note on Thursday, July 30th. Finally, Zacks Research raised Chipotle Mexican Grill from a “strong sell” rating to a “hold” rating in a report on Friday, April 17th. Twenty-four research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $44.16.
Chipotle Mexican Grill Stock Up 1.8%
CMG stock opened at $34.43 on Thursday. The company has a market capitalization of $43.57 billion, a P/E ratio of 31.59, a PEG ratio of 2.16 and a beta of 0.94. The company has a 50-day simple moving average of $33.01 and a 200 day simple moving average of $34.47. Chipotle Mexican Grill, Inc. has a fifty-two week low of $28.03 and a fifty-two week high of $44.27.
Chipotle Mexican Grill (NYSE:CMG – Get Free Report) last released its earnings results on Wednesday, July 29th. The restaurant operator reported $0.33 EPS for the quarter, beating the consensus estimate of $0.32 by $0.01. The firm had revenue of $3.35 billion for the quarter, compared to analysts’ expectations 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 last year, the company earned $0.33 EPS. Equities analysts anticipate that Chipotle Mexican Grill, Inc. will post 1.14 EPS for the current year.
Trending Headlines about Chipotle Mexican Grill
Here are the key news stories impacting Chipotle Mexican Grill this week:
- Positive Sentiment: Analyst support helped the stock recover. BTIG reaffirmed its “buy” rating and set a $45 price target, implying substantial upside from recent trading levels. Argus also raised its target to $45 while maintaining a “buy” rating. Why Is Chipotle Mexican Grill Stock Surging on Wednesday?
- Positive Sentiment: Underlying operating trends remain constructive. A recent review said Chipotle’s transaction slowdown appears to be reversing. Its latest quarterly results also showed revenue growth of 9.3% year over year to $3.35 billion, with adjusted earnings modestly above Wall Street expectations. Is Chipotle a Buy, Sell, or Hold After 2 Years of Volatility?
- Neutral Sentiment: Management said its annual targets do not include any financial impact from the Minnesota outbreak. This preserves the company’s previously issued outlook for now, but leaves open the possibility of incremental costs or weaker sales if the incident expands. Chipotle says annual targets do not include impact of Minnesota salmonella outbreak
- Negative Sentiment: Food-safety concerns remain the main risk. Chipotle removed jalapeños from several Minnesota restaurants after the peppers were potentially linked to a Salmonella outbreak that sickened more than 100 people. The company is cooperating with health authorities and has moved to another supplier, but the episode could cause store disruption, higher costs, reputational damage and renewed investor concerns about food-safety controls. Chipotle Pulls Jalapeños After Minnesota Salmonella Outbreak
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.
Read More
- Five stocks we like better than Chipotle Mexican Grill
- SpaceX: Love the Company, But the Stock Is a Harder Call
- Ulta’s Growth Is Real, But So Are the Risks
- BWX Technologies Is Turning the AI Power Problem Into a Nuclear Growth Story
- Meta’s Earnings Drop Shows Wall Street Wants More Than Ad Growth
Want to see what other hedge funds are holding CMG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Chipotle Mexican Grill, Inc. (NYSE:CMG – Free Report).
Receive News & Ratings for Chipotle Mexican Grill Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chipotle Mexican Grill and related companies with MarketBeat.com's FREE daily email newsletter.
