William Blair Investment Management LLC Invests $110.02 Million in Chipotle Mexican Grill, Inc. $CMG

William Blair Investment Management LLC bought a new stake in Chipotle Mexican Grill, Inc. (NYSE:CMG) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 3,235,762 shares of the restaurant operator’s stock, valued at approximately $110,016,000.

A number of other institutional investors have also made changes to their positions in the business. Revolve Wealth Partners LLC raised its stake in shares of Chipotle Mexican Grill by 4.7% in the fourth quarter. Revolve Wealth Partners LLC now owns 4,804 shares of the restaurant operator’s stock worth $290,000 after acquiring an additional 214 shares during the last quarter. Bison Wealth LLC bought a new stake in shares of Chipotle Mexican Grill during the fourth quarter valued at approximately $224,000. Empowered Funds LLC grew its stake in shares of Chipotle Mexican Grill by 5.5% during the first quarter. Empowered Funds LLC now owns 26,460 shares of the restaurant operator’s stock valued at $1,329,000 after purchasing an additional 1,368 shares during the last quarter. Osterweis Capital Management Inc. grew its stake in shares of Chipotle Mexican Grill by 7,176.0% during the second quarter. Osterweis Capital Management Inc. now owns 1,819 shares of the restaurant operator’s stock valued at $102,000 after purchasing an additional 1,794 shares during the last quarter. Finally, Ieq Capital LLC increased its holdings in shares of Chipotle Mexican Grill by 88.8% in the second quarter. Ieq Capital LLC now owns 274,375 shares of the restaurant operator’s stock valued at $15,406,000 after purchasing an additional 129,066 shares in the last quarter. 91.30% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

CMG has been the subject of several research analyst reports. TD Cowen restated a “buy” rating and issued a $44.00 price objective on shares of Chipotle Mexican Grill in a research report on Thursday, July 30th. Sanford C. Bernstein reiterated an “outperform” rating on shares of Chipotle Mexican Grill in a research report on Friday, July 31st. Argus lifted their target price on Chipotle Mexican Grill from $40.00 to $45.00 and gave the company a “buy” rating in a research note on Tuesday, August 4th. Evercore restated an “outperform” rating and set a $47.00 target price on shares of Chipotle Mexican Grill in a research report on Thursday, July 30th. Finally, Stephens reaffirmed a “positive” rating and set a $40.00 price target (up from $36.00) on shares of Chipotle Mexican Grill in a research note on Thursday, July 30th. Twenty-four analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $44.16.

Chipotle Mexican Grill Price Performance

Shares of NYSE:CMG opened at $36.84 on Friday. Chipotle Mexican Grill, Inc. has a one year low of $28.03 and a one year high of $43.72. The company has a 50 day moving average of $33.80 and a 200-day moving average of $33.99. The stock has a market cap of $46.62 billion, a price-to-earnings ratio of 33.80, a P/E/G ratio of 2.25 and a beta of 0.94.

Chipotle Mexican Grill (NYSE:CMG) last announced its quarterly earnings data 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 net margin of 11.43% and a return on equity of 54.65%. The business had revenue of $3.35 billion for the quarter, compared to analyst estimates of $3.33 billion. During the same period in the prior year, the business posted $0.33 earnings per share. Chipotle Mexican Grill’s revenue was up 9.3% compared to the same quarter last year. Equities research analysts anticipate that Chipotle Mexican Grill, Inc. will post 1.14 earnings per share for the current year.

Chipotle Mexican Grill 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.