Assenagon Asset Management S.A. Purchases 2,465,920 Shares of Chipotle Mexican Grill, Inc. $CMG

Assenagon Asset Management S.A. grew its position in Chipotle Mexican Grill, Inc. (NYSE:CMG) by 75.1% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 5,749,194 shares of the restaurant operator’s stock after buying an additional 2,465,920 shares during the period. Assenagon Asset Management S.A.’s holdings in Chipotle Mexican Grill were worth $195,473,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. Vanguard Group Inc. raised its stake in Chipotle Mexican Grill by 14.8% during the 4th quarter. Vanguard Group Inc. now owns 144,588,220 shares of the restaurant operator’s stock worth $5,349,764,000 after buying an additional 18,660,882 shares during the period. Capital World Investors lifted its holdings in Chipotle Mexican Grill by 15.8% during the fourth quarter. Capital World Investors now owns 101,688,010 shares of the restaurant operator’s stock worth $3,762,457,000 after acquiring an additional 13,843,222 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in Chipotle Mexican Grill by 18.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 58,447,867 shares of the restaurant operator’s stock valued at $2,162,572,000 after acquiring an additional 9,237,720 shares during the period. Capital International Investors grew its stake in Chipotle Mexican Grill by 17.7% in the fourth quarter. Capital International Investors now owns 45,294,212 shares of the restaurant operator’s stock valued at $1,675,895,000 after acquiring an additional 6,796,285 shares during the period. Finally, Norges Bank acquired a new position in Chipotle Mexican Grill in the fourth quarter valued at about $711,837,000. Institutional investors own 91.30% of the company’s stock.

Trending Headlines about Chipotle Mexican Grill

Here are the key news stories impacting Chipotle Mexican Grill this week:

• Positive Sentiment: Analyst support remains intact. BTIG reaffirmed its “buy” rating with a $45 price target, while Argus also raised its target to $45, indicating analysts see substantial long-term upside if the outbreak is contained. BTIG rating update Argus price target update
• Positive Sentiment: Chipotle recently reported a quarterly earnings and revenue beat, with comparable sales returning to growth, supported by new menu items and a revamped rewards program. Chipotle quarterly performance analysis
• Neutral Sentiment: Chipotle removed jalapeños from affected Minnesota restaurants, switched to an alternative supplier and is cooperating with health authorities. Management said its previously issued annual targets do not include any financial impact from the outbreak, leaving potential revisions uncertain. Chipotle annual targets and outbreak
• Negative Sentiment: The CDC has linked the outbreak to jalapeños served at Chipotle and other restaurants across 27 states. Reports of hundreds of illnesses are increasing concerns about potential legal costs, restaurant disruption, supplier scrutiny and damage to the brand’s food-safety reputation. Salmonella outbreak linked to Mexican jalapeños Chipotle stock and Salmonella outbreak
• Negative Sentiment: Investors are also questioning Chipotle’s valuation because higher food and labor costs have compressed restaurant-level margins and reduced net income and EPS, despite sales growth. A premium earnings multiple leaves less room for execution or reputational setbacks. Chipotle valuation and margin analysis

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Stephens reaffirmed a “positive” rating and set a $40.00 price target (up from $36.00) on shares of Chipotle Mexican Grill in a research report on Thursday, July 30th. Raymond James Financial reiterated an “outperform” rating and issued a $42.50 price objective on shares of Chipotle Mexican Grill in a research report on Thursday, July 30th. Guggenheim reiterated a “neutral” rating and issued a $36.00 price objective (up from $35.00) on shares of Chipotle Mexican Grill in a research report on Friday, July 31st. Zacks Research raised Chipotle Mexican Grill from a “strong sell” rating to a “hold” rating in a research note on Friday, April 17th. Finally, TD Cowen restated a “buy” rating and set a $44.00 target price on shares of Chipotle Mexican Grill in a report on Thursday, July 30th. Twenty-four investment 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $44.16.

Chipotle Mexican Grill Trading Down 2.3%

Shares of NYSE CMG opened at $33.72 on Friday. The company has a fifty day moving average price of $33.04 and a 200 day moving average price of $34.43. The firm has a market cap of $42.67 billion, a PE ratio of 30.94, a PEG ratio of 2.20 and a beta of 0.94. Chipotle Mexican Grill, Inc. has a 1-year low of $28.03 and a 1-year high of $44.27.

Chipotle Mexican Grill (NYSE:CMG) last released its quarterly earnings results on Wednesday, July 29th. The restaurant operator reported $0.33 earnings per share (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 the consensus estimate of $3.33 billion. Chipotle Mexican Grill had a return on equity of 54.65% and a net margin of 11.43%.The company’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same quarter last year, the business posted $0.33 EPS. Equities research analysts forecast that Chipotle Mexican Grill, Inc. will post 1.14 EPS for the current year.

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.