Rakuten Investment Management Inc. Makes New Investment in Chipotle Mexican Grill, Inc. $CMG

Rakuten Investment Management Inc. purchased a new position in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG) during the second quarter, HoldingsChannel.com reports. The fund purchased 211,923 shares of the restaurant operator’s stock, valued at approximately $6,987,000.

Several other institutional investors have also modified their holdings of CMG. BlackRock Inc. acquired a new position in shares of Chipotle Mexican Grill in the 2nd quarter valued at approximately $4,417,475,000. Capital World Investors raised its holdings in Chipotle Mexican Grill by 15.8% during the 4th quarter. Capital World Investors now owns 101,688,010 shares of the restaurant operator’s stock worth $3,762,457,000 after buying an additional 13,843,222 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in Chipotle Mexican Grill by 18.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 58,447,867 shares of the restaurant operator’s stock worth $2,162,572,000 after buying an additional 9,237,720 shares during the period. Capital International Investors lifted its stake in Chipotle Mexican Grill by 17.7% in the fourth quarter. Capital International Investors now owns 45,294,212 shares of the restaurant operator’s stock valued at $1,675,895,000 after buying an additional 6,796,285 shares in the last quarter. Finally, Norges Bank bought a new position in Chipotle Mexican Grill in the fourth quarter valued at approximately $711,837,000. Institutional investors own 91.30% of the company’s stock.

Chipotle Mexican Grill Trading Up 2.3%

Chipotle Mexican Grill stock opened at $38.08 on Friday. The company has a market cap of $48.19 billion, a P/E ratio of 34.94, a price-to-earnings-growth ratio of 2.42 and a beta of 0.94. Chipotle Mexican Grill, Inc. has a 1-year low of $28.03 and a 1-year high of $42.81. The company has a fifty day simple moving average of $34.33 and a 200 day simple moving average of $33.94.

Chipotle Mexican Grill (NYSE:CMG) last issued its quarterly earnings results on Wednesday, July 29th. The restaurant operator reported $0.33 earnings per share (EPS) 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 firm had revenue of $3.35 billion for the quarter, compared to analyst estimates of $3.33 billion. During the same period in the previous year, the business earned $0.33 EPS. The company’s revenue was up 9.3% compared to the same quarter last year. On average, equities research analysts forecast that Chipotle Mexican Grill, Inc. will post 1.14 EPS for the current year.

Analyst Ratings Changes

Several brokerages have recently issued reports on CMG. Mizuho increased their price objective on shares of Chipotle Mexican Grill from $40.00 to $41.00 and gave the stock an “outperform” rating in a research report on Monday, July 13th. Weiss Ratings raised shares of Chipotle Mexican Grill from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, August 7th. Piper Sandler reduced their target price on shares of 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. Stephens reaffirmed a “positive” rating and issued a $40.00 target price (up from $36.00) on shares of Chipotle Mexican Grill in a research note on Thursday, July 30th. Finally, Robert W. Baird reiterated a “neutral” rating and set a $40.00 target price (down from $44.00) on shares of Chipotle Mexican Grill in a report on Monday, August 24th. Twenty-three investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $43.84.

Insider Buying and Selling at Chipotle Mexican Grill

In other news, insider Matthew R. Bush sold 2,675 shares of the firm’s stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $35.75, for a total value of $95,631.25. Following the completion of the transaction, the insider owned 21,415 shares in the company, valued at $765,586.25. This trade represents a 11.10% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.45% of the stock is owned by insiders.

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.