Harbour Trust & Investment Management Co Purchases New Stake in Chipotle Mexican Grill, Inc. $CMG

Harbour Trust & Investment Management Co purchased a new stake in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG) in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 101,213 shares of the restaurant operator’s stock, valued at approximately $3,967,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in Chipotle Mexican Grill by 0.8% in the 2nd quarter. Vanguard Group Inc. now owns 123,457,125 shares of the restaurant operator’s stock valued at $6,932,118,000 after acquiring an additional 993,798 shares in the last quarter. Alliancebernstein L.P. grew its position in Chipotle Mexican Grill by 1.9% in the 2nd quarter. Alliancebernstein L.P. now owns 33,111,508 shares of the restaurant operator’s stock worth $1,859,211,000 after purchasing an additional 606,190 shares in the last quarter. Geode Capital Management LLC increased its stake in Chipotle Mexican Grill by 1.1% in the 2nd quarter. Geode Capital Management LLC now owns 29,659,508 shares of the restaurant operator’s stock valued at $1,657,193,000 after buying an additional 325,926 shares during the last quarter. American Century Companies Inc. lifted its position in shares of Chipotle Mexican Grill by 2.9% during the 2nd quarter. American Century Companies Inc. now owns 21,257,666 shares of the restaurant operator’s stock worth $1,193,618,000 after buying an additional 595,038 shares in the last quarter. Finally, Norges Bank bought a new position in Chipotle Mexican Grill in the 2nd quarter valued at $1,001,668,000. 91.30% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

CMG has been the subject of a number of research reports. Morgan Stanley reduced their target price on shares of Chipotle Mexican Grill from $59.00 to $50.00 and set an “overweight” rating for the company in a research report on Thursday, October 30th. Raymond James Financial reissued an “outperform” rating and issued a $40.00 price target (down previously from $52.00) on shares of Chipotle Mexican Grill in a research report on Thursday, October 30th. JPMorgan Chase & Co. dropped their target price on Chipotle Mexican Grill from $44.00 to $40.00 and set a “neutral” rating on the stock in a research report on Thursday, October 30th. Gordon Haskett cut shares of Chipotle Mexican Grill from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 8th. Finally, BMO Capital Markets reaffirmed an “outperform” rating on shares of Chipotle Mexican Grill in a report on Thursday, October 30th. Two analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and thirteen have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $50.00.

Chipotle Mexican Grill Price Performance

NYSE:CMG opened at $40.26 on Friday. The company has a market capitalization of $53.23 billion, a price-to-earnings ratio of 35.63, a PEG ratio of 3.86 and a beta of 0.97. The business has a 50 day moving average of $35.26 and a 200 day moving average of $40.65. Chipotle Mexican Grill, Inc. has a 1-year low of $29.75 and a 1-year high of $59.57.

Chipotle Mexican Grill (NYSE:CMG) last issued its quarterly earnings results on Wednesday, October 29th. The restaurant operator reported $0.29 EPS for the quarter, meeting analysts’ consensus estimates of $0.29. Chipotle Mexican Grill had a net margin of 13.04% and a return on equity of 45.39%. The business had revenue of $3 billion for the quarter, compared to analysts’ expectations of $3.06 billion. During the same period last year, the business earned $0.27 earnings per share. The business’s quarterly revenue was up 7.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Chipotle Mexican Grill, Inc. will post 1.29 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.