Lazard Asset Management LLC Invests $656,000 in Chipotle Mexican Grill, Inc. $CMG

Lazard Asset Management LLC acquired a new stake in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 20,480 shares of the restaurant operator’s stock, valued at approximately $656,000.

A number of other hedge funds also recently made changes to their positions in CMG. Gateway Wealth Partners LLC purchased a new stake in Chipotle Mexican Grill during the first quarter valued at about $271,000. Delta Global Management LP boosted its holdings in shares of Chipotle Mexican Grill by 32.5% in the 1st quarter. Delta Global Management LP now owns 787,194 shares of the restaurant operator’s stock worth $25,198,000 after purchasing an additional 192,921 shares in the last quarter. OMERS ADMINISTRATION Corp boosted its holdings in shares of Chipotle Mexican Grill by 0.4% in the 1st quarter. OMERS ADMINISTRATION Corp now owns 3,518,335 shares of the restaurant operator’s stock worth $112,622,000 after purchasing an additional 13,839 shares in the last quarter. Lombard Odier Asset Management Switzerland SA increased its position in shares of Chipotle Mexican Grill by 2.3% during the 1st quarter. Lombard Odier Asset Management Switzerland SA now owns 45,602 shares of the restaurant operator’s stock valued at $1,460,000 after purchasing an additional 1,009 shares during the last quarter. Finally, Wealth Alliance LLC increased its position in shares of Chipotle Mexican Grill by 20.1% during the 1st quarter. Wealth Alliance LLC now owns 13,448 shares of the restaurant operator’s stock valued at $430,000 after purchasing an additional 2,249 shares during the last quarter. 91.30% of the stock is owned by institutional investors.

Chipotle Mexican Grill Trading Down 2.3%

CMG opened at $33.72 on Friday. Chipotle Mexican Grill, Inc. has a 12 month low of $28.03 and a 12 month high of $44.27. The business’s 50-day moving average price is $33.04 and its 200-day moving average price is $34.43. The company has a market cap of $42.67 billion, a P/E ratio of 30.94, a P/E/G ratio of 2.20 and a beta of 0.94.

Chipotle Mexican Grill (NYSE:CMG) last issued its earnings results on Wednesday, July 29th. The restaurant operator reported $0.33 earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $3.35 billion during the quarter, compared to analysts’ expectations of $3.33 billion. During the same period in the prior year, the business posted $0.33 EPS. Chipotle Mexican Grill’s quarterly revenue was up 9.3% compared to the same quarter last year. Equities research analysts forecast that Chipotle Mexican Grill, Inc. will post 1.14 earnings per share for the current fiscal year.

Key Stories Impacting 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

CMG has been the subject of a number of recent research reports. Sanford C. Bernstein restated an “outperform” rating on shares of Chipotle Mexican Grill in a research report on Friday, July 31st. TD Cowen reiterated a “buy” rating and set a $44.00 price target on shares of Chipotle Mexican Grill in a research report on Thursday, July 30th. Morgan Stanley lifted their price target on shares of Chipotle Mexican Grill from $37.00 to $39.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 30th. DA Davidson boosted their price objective on shares of Chipotle Mexican Grill from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Finally, Mizuho boosted their price objective on shares of Chipotle Mexican Grill from $40.00 to $41.00 and gave the stock an “outperform” rating in a report on Monday, July 13th. Twenty-four investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $44.16.

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.