Saudi Central Bank increased its stake in Chipotle Mexican Grill, Inc. (NYSE:CMG – Free Report) by 86.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 91,170 shares of the restaurant operator’s stock after acquiring an additional 42,363 shares during the period. Saudi Central Bank’s holdings in Chipotle Mexican Grill were worth $3,100,000 as of its most recent SEC filing.
Several other large investors also recently added to or reduced their stakes in the stock. Wealth Watch Advisors INC purchased a new position in shares of Chipotle Mexican Grill in the 3rd quarter worth approximately $25,000. MV Capital Management Inc. bought a new position in shares of Chipotle Mexican Grill during the 4th quarter valued at approximately $26,000. Osbon Capital Management LLC bought a new position in shares of Chipotle Mexican Grill during the 2nd quarter valued at approximately $26,000. Meeder Asset Management Inc. purchased a new stake in Chipotle Mexican Grill during the 2nd quarter valued at $27,000. Finally, Merkkuri Wealth Advisors LLC purchased a new stake in Chipotle Mexican Grill during the 1st quarter valued at $28,000. 91.30% of the stock is owned by institutional investors.
Chipotle Mexican Grill Price Performance
CMG stock opened at $36.96 on Tuesday. Chipotle Mexican Grill, Inc. has a twelve month low of $28.03 and a twelve month high of $42.81. The firm has a market cap of $46.77 billion, a price-to-earnings ratio of 33.91, a PEG ratio of 2.26 and a beta of 0.94. The business’s fifty day simple moving average is $35.00 and its two-hundred day simple moving average is $33.93.
Insiders Place Their Bets
In other Chipotle Mexican Grill news, insider Matthew R. Bush sold 2,675 shares of the business’s stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $35.75, for a total value of $95,631.25. Following the completion of the sale, the insider directly owned 21,415 shares of the company’s stock, valued at $765,586.25. The trade was a 11.10% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.45% of the stock is owned by insiders.
Analyst Upgrades and Downgrades
Several research analysts have commented on the stock. Raymond James Financial reaffirmed an “outperform” rating and set a $42.50 price objective on shares of Chipotle Mexican Grill in a research note on Thursday, July 30th. DA Davidson increased their target price on shares of Chipotle Mexican Grill from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Citigroup lowered their target price on shares of Chipotle Mexican Grill from $46.00 to $45.00 and set a “buy” rating for the company in a report on Monday, July 13th. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Chipotle Mexican Grill in a research note on Friday, July 31st. Finally, Evercore reiterated an “outperform” rating and set a $47.00 price target on shares of Chipotle Mexican Grill in a report on Thursday, July 30th. Twenty-three analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat.com, Chipotle Mexican Grill presently has an average rating of “Moderate Buy” and an average price target of $43.84.
Read Our Latest Research Report on Chipotle Mexican Grill
About Chipotle Mexican Grill
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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