Commerce Bank Buys Shares of 57,318 Chipotle Mexican Grill, Inc. $CMG

Commerce Bank bought a new stake in Chipotle Mexican Grill, Inc. (NYSE:CMG) in the second quarter, Holdings Channel.com reports. The institutional investor bought 57,318 shares of the restaurant operator’s stock, valued at approximately $1,949,000.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Wealth Watch Advisors INC acquired a new position in Chipotle Mexican Grill during the third quarter valued at $25,000. MV Capital Management Inc. acquired a new stake in Chipotle Mexican Grill during the 4th quarter worth about $26,000. Meeder Asset Management Inc. acquired a new stake in Chipotle Mexican Grill during the 2nd quarter worth about $27,000. Osbon Capital Management LLC purchased a new position in Chipotle Mexican Grill during the 4th quarter valued at about $28,000. Finally, Merkkuri Wealth Advisors LLC acquired a new position in shares of Chipotle Mexican Grill in the 1st quarter valued at about $28,000. Institutional investors and hedge funds own 91.30% of the company’s stock.

Chipotle Mexican Grill Price Performance

Shares of Chipotle Mexican Grill stock opened at $37.50 on Wednesday. The firm has a market cap of $47.45 billion, a price-to-earnings ratio of 34.40, a P/E/G ratio of 2.42 and a beta of 0.94. Chipotle Mexican Grill, Inc. has a 52-week low of $28.03 and a 52-week high of $43.13. The stock has a 50-day simple moving average of $34.01 and a 200-day simple moving average of $33.94.

Chipotle Mexican Grill (NYSE:CMG) last released its quarterly earnings data on Wednesday, July 29th. The restaurant operator reported $0.33 EPS 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 for the quarter, compared to the consensus estimate of $3.33 billion. During the same quarter in the prior year, the company posted $0.33 earnings per share. The firm’s revenue was up 9.3% on a year-over-year basis. As a group, equities research analysts predict that Chipotle Mexican Grill, Inc. will post 1.14 earnings per share for the current year.

Insider Transactions at Chipotle Mexican Grill

In other Chipotle Mexican Grill news, insider Matthew R. Bush sold 2,675 shares of the business’s stock in a transaction that occurred on 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.45% of the stock is owned by company insiders.

Key Headlines Impacting Chipotle Mexican Grill

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

• Positive Sentiment: Chipotle launched a new “Every Win Tastes Better” promotion with tennis player Taylor Fritz, offering BOGO entrées after his U.S. Open victories. The campaign follows record redemptions from the company’s back-to-school promotion and could support restaurant traffic, digital engagement and near-term sales. Chipotle Taylor Fritz promotion
• Positive Sentiment: Investors remain encouraged by Chipotle’s digital initiatives, menu innovation and unit-expansion plans, which could provide longer-term revenue growth and help explain the stock’s recent strength. Chipotle growth outlook
• Neutral Sentiment: CMG continued to rise despite a Baird downgrade because the firm’s Neutral rating still carries a $40 price target, while recent momentum and promotional activity appear to be outweighing the more cautious analyst view. Chipotle stock gains after downgrade
• Negative Sentiment: Baird lowered its rating to Neutral and cut its price target to $40 from $44, arguing that Chipotle may need to spend considerably more to generate slower sales growth. Rising labor, marketing and operating costs could pressure margins and limit valuation upside. Baird Chipotle downgrade
• Negative Sentiment: Insider Matthew R. Bush sold 2,675 shares worth approximately $95,631, reducing his direct stake by 11.1%. The transaction may modestly weigh on sentiment, although one insider sale does not necessarily signal deteriorating business conditions. SEC insider filing

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on CMG shares. TD Cowen reissued a “buy” rating and issued a $44.00 price target 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 note on Friday, July 31st. Weiss Ratings upgraded shares of Chipotle Mexican Grill from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, August 7th. BTIG Research reiterated a “buy” rating and issued a $45.00 target price on shares of Chipotle Mexican Grill in a research report on Wednesday, August 5th. Finally, JPMorgan Chase & Co. raised shares of Chipotle Mexican Grill from a “neutral” rating to an “overweight” rating and decreased their target price for the company from $38.00 to $35.00 in a research note on Friday, June 5th. Twenty-three investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $43.84.

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.