Chipotle Mexican Grill, Inc. $CMG Stake Increased by Magellan Asset Management Ltd

Magellan Asset Management Ltd raised its position in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG) by 3.4% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,900,917 shares of the restaurant operator’s stock after purchasing an additional 162,872 shares during the quarter. Chipotle Mexican Grill accounts for about 3.1% of Magellan Asset Management Ltd’s investment portfolio, making the stock its 10th biggest holding. Magellan Asset Management Ltd owned 0.37% of Chipotle Mexican Grill worth $275,186,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CMG. Saudi Central Bank bought a new stake in shares of Chipotle Mexican Grill during the first quarter valued at approximately $27,000. 1248 Management LLC bought a new stake in shares of Chipotle Mexican Grill in the 1st quarter worth $27,000. Signature Resources Capital Management LLC purchased a new position in shares of Chipotle Mexican Grill in the second quarter worth $28,000. Oliver Lagore Vanvalin Investment Group purchased a new position in shares of Chipotle Mexican Grill in the second quarter worth $29,000. Finally, Activest Wealth Management lifted its holdings in shares of Chipotle Mexican Grill by 109.3% during the second quarter. Activest Wealth Management now owns 517 shares of the restaurant operator’s stock valued at $29,000 after purchasing an additional 270 shares in the last quarter. Institutional investors own 91.30% of the company’s stock.

Chipotle Mexican Grill Trading Up 0.0%

NYSE CMG opened at $30.56 on Friday. Chipotle Mexican Grill, Inc. has a 12 month low of $30.02 and a 12 month high of $66.74. The stock has a market cap of $40.98 billion, a PE ratio of 27.05, a P/E/G ratio of 2.65 and a beta of 0.98. The stock’s 50 day moving average is $39.24 and its 200 day moving average is $46.09.

Chipotle Mexican Grill (NYSE:CMG) last released its quarterly earnings data on Wednesday, October 29th. The restaurant operator reported $0.29 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.29. Chipotle Mexican Grill had a net margin of 13.04% and a return on equity of 44.32%. The firm had revenue of $3 billion for the quarter, compared to analysts’ expectations of $3.06 billion. During the same quarter last year, the business posted $0.27 earnings per share. The company’s revenue for the quarter was up 7.5% compared to the same quarter last year. On average, analysts forecast that Chipotle Mexican Grill, Inc. will post 1.29 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently commented on CMG shares. UBS Group set a $45.00 price target on shares of Chipotle Mexican Grill in a research note on Friday, October 31st. Zacks Research lowered shares of Chipotle Mexican Grill from a “hold” rating to a “strong sell” rating in a research note on Thursday, October 30th. Sanford C. Bernstein reissued an “outperform” rating and set a $40.00 price target (down from $60.00) on shares of Chipotle Mexican Grill in a report on Thursday, October 30th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Chipotle Mexican Grill in a report on Wednesday, October 8th. Finally, TD Cowen reduced their price objective on Chipotle Mexican Grill from $45.00 to $40.00 and set a “buy” rating for the company in a research report on Thursday, October 30th. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $49.81.

About Chipotle Mexican Grill

Chipotle Mexican Grill, Inc, together with its subsidiaries, owns and operates Chipotle Mexican Grill restaurants. It sells food and beverages through offering burritos, burrito bowls, quesadillas, tacos, and salads. The company also provides delivery and related services its app and website. It has operations in the United States, Canada, France, Germany, and the United Kingdom.