ZWJ Investment Counsel Inc. lifted its stake in Chipotle Mexican Grill, Inc. (NYSE:CMG – Free Report) by 2,237.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 171,938 shares of the restaurant operator’s stock after acquiring an additional 164,581 shares during the quarter. ZWJ Investment Counsel Inc.’s holdings in Chipotle Mexican Grill were worth $5,493,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also modified their holdings of the stock. Mather Group LLC. increased its position in Chipotle Mexican Grill by 3,324.5% in the 3rd quarter. Mather Group LLC. now owns 407,133 shares of the restaurant operator’s stock worth $13,008,000 after purchasing an additional 395,244 shares during the last quarter. Finward Bancorp raised its stake in shares of Chipotle Mexican Grill by 99.8% during the 3rd quarter. Finward Bancorp now owns 14,983 shares of the restaurant operator’s stock worth $479,000 after purchasing an additional 7,483 shares in the last quarter. Triumph Capital Management raised its stake in shares of Chipotle Mexican Grill by 4,948.3% during the 3rd quarter. Triumph Capital Management now owns 9,087 shares of the restaurant operator’s stock worth $290,000 after purchasing an additional 8,907 shares in the last quarter. Seelaus Asset Management LLC raised its stake in shares of Chipotle Mexican Grill by 122.2% during the 3rd quarter. Seelaus Asset Management LLC now owns 15,027 shares of the restaurant operator’s stock worth $480,000 after purchasing an additional 8,263 shares in the last quarter. Finally, First Citizens Bank & Trust Co. raised its stake in shares of Chipotle Mexican Grill by 1,494.0% during the 3rd quarter. First Citizens Bank & Trust Co. now owns 169,559 shares of the restaurant operator’s stock worth $5,417,000 after purchasing an additional 158,922 shares in the last quarter. 91.30% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently issued reports on CMG shares. Guggenheim reissued a “neutral” rating and issued a $36.00 price target (up from $35.00) on shares of Chipotle Mexican Grill in a research note on Friday, July 31st. Seaport Research Partners started coverage on Chipotle Mexican Grill in a report on Wednesday, September 16th. They issued a “neutral” rating on the stock. Piper Sandler dropped their price objective on Chipotle Mexican Grill from $42.00 to $39.00 and set an “overweight” rating on the stock in a report on Thursday, July 30th. Bank of America reaffirmed a “buy” rating and set a $53.00 price objective (up from $50.00) on shares of Chipotle Mexican Grill in a research report on Tuesday, September 1st. Finally, Sanford C. Bernstein reiterated an “outperform” rating on shares of Chipotle Mexican Grill in a research note on Friday, July 31st. Twenty-three equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $43.91.
Chipotle Mexican Grill Trading Up 0.4%
Shares of NYSE:CMG opened at $30.48 on Thursday. The stock has a market capitalization of $38.57 billion, a PE ratio of 27.96, a P/E/G ratio of 1.86 and a beta of 0.96. Chipotle Mexican Grill, Inc. has a 1 year low of $28.03 and a 1 year high of $42.81. The firm has a fifty day moving average price of $34.09 and a 200 day moving average price of $33.49.
Chipotle Mexican Grill (NYSE:CMG – Get Free Report) last posted its earnings results on Wednesday, July 29th. The restaurant operator reported $0.33 EPS for the quarter, topping the consensus estimate of $0.32 by $0.01. Chipotle Mexican Grill had a net margin of 11.43% and a return on equity of 54.65%. The firm had revenue of $3.35 billion for the quarter, compared to the consensus estimate of $3.33 billion. During the same period in the prior year, the business posted $0.33 earnings per share. The business’s quarterly revenue was up 9.3% on a year-over-year basis. On average, sell-side analysts forecast that Chipotle Mexican Grill, Inc. will post 1.14 earnings per share for the current fiscal year.
Insider Activity
In other news, insider Matthew R. Bush sold 2,675 shares of the company’s stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $35.75, for a total transaction of $95,631.25. Following the completion of the sale, the insider owned 21,415 shares in the company, valued at approximately $765,586.25. This represents a 11.10% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.45% of the company’s stock.
Chipotle Mexican Grill Profile
Chipotle Mexican Grill, Inc is a fast-casual restaurant company that specializes in Mexican-inspired food made with a limited number of core ingredients. Its menu includes burritos, burrito bowls, tacos, quesadillas, salads and sides, with options such as chicken, steak, barbacoa, carnitas, sofritas and vegetables. The company also offers beverages, including soft drinks and other drinks, and allows customers to customize meals.
Founded by Steve Ells in 1993, Chipotle operates company-owned restaurants under the Chipotle Mexican Grill brand.
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