Chipotle Mexican Grill, Inc. $CMG Position Raised by Engineers Gate Manager LP

Engineers Gate Manager LP grew its position in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG) by 833.5% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 723,446 shares of the restaurant operator’s stock after purchasing an additional 645,944 shares during the quarter. Engineers Gate Manager LP’s holdings in Chipotle Mexican Grill were worth $24,597,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. Wealth Watch Advisors INC bought a new stake in Chipotle Mexican Grill in the 3rd quarter valued at about $25,000. MV Capital Management Inc. acquired a new stake in shares of Chipotle Mexican Grill in the fourth quarter valued at approximately $26,000. Osbon Capital Management LLC acquired a new stake in shares of Chipotle Mexican Grill in the second quarter valued at approximately $26,000. Meeder Asset Management Inc. bought a new stake in shares of Chipotle Mexican Grill during the second quarter valued at approximately $27,000. Finally, Merkkuri Wealth Advisors LLC bought a new stake in shares of Chipotle Mexican Grill during the first quarter valued at approximately $28,000. Institutional investors own 91.30% of the company’s stock.

Insider Buying and Selling at Chipotle Mexican Grill

In related news, insider Matthew R. Bush sold 2,675 shares of Chipotle Mexican Grill stock in a transaction 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 owned 21,415 shares of the company’s stock, valued at approximately $765,586.25. The trade was a 11.10% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.45% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on CMG shares. DA Davidson increased their price objective on Chipotle Mexican Grill from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Evercore reiterated an “outperform” rating and set a $47.00 price target on shares of Chipotle Mexican Grill in a research report on Thursday, July 30th. Piper Sandler decreased their price target on Chipotle Mexican Grill from $42.00 to $39.00 and set an “overweight” rating for the company in a research note on Thursday, July 30th. Robert W. Baird reissued a “neutral” rating and set a $40.00 price target (down from $44.00) on shares of Chipotle Mexican Grill in a report on Monday, August 24th. Finally, BTIG Research restated a “buy” rating and set a $45.00 price objective on shares of Chipotle Mexican Grill in a research note on Wednesday, August 5th. Twenty-three equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $43.84.

Chipotle Mexican Grill Stock Performance

Shares of NYSE CMG opened at $36.01 on Thursday. The business has a 50 day simple moving average of $35.08 and a 200 day simple moving average of $33.90. Chipotle Mexican Grill, Inc. has a 52 week low of $28.03 and a 52 week high of $42.81. The stock has a market cap of $45.56 billion, a price-to-earnings ratio of 33.03, a PEG ratio of 2.26 and a beta of 0.94.

Chipotle Mexican Grill (NYSE:CMG) last posted its earnings results on Wednesday, July 29th. The restaurant operator reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.01. The firm had revenue of $3.35 billion during the quarter, compared to analysts’ expectations of $3.33 billion. Chipotle Mexican Grill had a net margin of 11.43% and a return on equity of 54.65%. The company’s revenue was up 9.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.33 earnings per share. On average, analysts predict that Chipotle Mexican Grill, Inc. will post 1.15 EPS for the current year.

Chipotle Mexican Grill Profile

Chipotle Mexican Grill, Inc is a fast-casual restaurant company that operates restaurants under the Chipotle Mexican Grill brand. Its menu centers on customizable Mexican-inspired food, including burritos, bowls, tacos and salads, along with sides, beverages and children’s meals.

The company emphasizes cooking with responsibly sourced ingredients and preparing food in its restaurants. Customers can order meals in person, through digital ordering channels, for pickup or delivery. Chipotle serves customers primarily in the United States, with additional restaurants in Canada, the United Kingdom, France and Germany.

Chipotle was founded in 1993 by Steve Ells in Denver, Colorado.