Varma Mutual Pension Insurance Co bought a new stake in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG – Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 334,202 shares of the restaurant operator’s stock, valued at approximately $11,363,000.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CMG. Vanguard Group Inc. raised its position in Chipotle Mexican Grill by 14.8% in the fourth quarter. Vanguard Group Inc. now owns 144,588,220 shares of the restaurant operator’s stock worth $5,349,764,000 after acquiring an additional 18,660,882 shares during the period. BlackRock Inc. bought a new stake in shares of Chipotle Mexican Grill during the 2nd quarter valued at $4,417,475,000. Capital World Investors increased its stake in shares of Chipotle Mexican Grill by 15.8% in the 4th quarter. Capital World Investors now owns 101,688,010 shares of the restaurant operator’s stock worth $3,762,457,000 after purchasing an additional 13,843,222 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Chipotle Mexican Grill by 18.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 58,447,867 shares of the restaurant operator’s stock worth $2,162,572,000 after purchasing an additional 9,237,720 shares in the last quarter. Finally, Capital International Investors raised its holdings in Chipotle Mexican Grill by 17.7% in the 4th quarter. Capital International Investors now owns 45,294,212 shares of the restaurant operator’s stock worth $1,675,895,000 after purchasing an additional 6,796,285 shares during the period. 91.30% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several equities analysts recently weighed in on CMG shares. Mizuho lifted their target price on Chipotle Mexican Grill from $40.00 to $41.00 and gave the company an “outperform” rating in a research report on Monday, July 13th. Guggenheim reaffirmed a “neutral” rating and issued a $36.00 price objective (up from $35.00) on shares of Chipotle Mexican Grill in a research note on Friday, July 31st. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $45.00 price objective on shares of Chipotle Mexican Grill in a research report on Thursday, April 30th. Barclays cut their price objective on Chipotle Mexican Grill from $40.00 to $38.00 and set an “equal weight” rating for the company in a research note on Thursday, April 30th. Finally, BTIG Research reissued a “buy” rating and issued a $45.00 target price on shares of Chipotle Mexican Grill in a report on Wednesday, August 5th. Twenty-four equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $44.16.
Chipotle Mexican Grill Stock Down 0.2%
NYSE:CMG opened at $36.84 on Monday. The business’s 50-day simple moving average is $33.80 and its two-hundred day simple moving average is $33.96. Chipotle Mexican Grill, Inc. has a 52 week low of $28.03 and a 52 week high of $43.72. The stock has a market cap of $46.62 billion, a PE ratio of 33.80, a P/E/G ratio of 2.35 and a beta of 0.94.
Chipotle Mexican Grill (NYSE:CMG – Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The restaurant operator reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.01. Chipotle Mexican Grill had a return on equity of 54.65% and a net margin of 11.43%.The firm had revenue of $3.35 billion during the quarter, compared to analyst estimates of $3.33 billion. During the same quarter in the prior year, the company posted $0.33 earnings per share. The business’s quarterly revenue was up 9.3% compared to the same quarter last year. Sell-side analysts anticipate that Chipotle Mexican Grill, Inc. will post 1.14 earnings per share for the current fiscal year.
Chipotle Mexican Grill 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.
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