Chipotle Mexican Grill, Inc. $CMG Shares Newly Purchased by Ninety One North America Inc.

Ninety One North America Inc. acquired a new stake in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 64,020 shares of the restaurant operator’s stock, valued at approximately $2,176,000.

A number of other hedge funds and other institutional investors have also modified their holdings of CMG. BlackRock Inc. acquired a new stake in Chipotle Mexican Grill in the second quarter valued at $4,417,475,000. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Chipotle Mexican Grill by 19.8% during the first quarter. Arrowstreet Capital Limited Partnership now owns 16,478,248 shares of the restaurant operator’s stock valued at $527,469,000 after acquiring an additional 2,727,762 shares during the period. Amundi grew its position in Chipotle Mexican Grill by 23.3% in the 1st quarter. Amundi now owns 11,980,192 shares of the restaurant operator’s stock worth $383,486,000 after purchasing an additional 2,266,087 shares during the last quarter. Bank of America Corp DE grew its holdings in Chipotle Mexican Grill by 86.1% in the 1st quarter. Bank of America Corp DE now owns 11,973,752 shares of the restaurant operator’s stock worth $383,280,000 after buying an additional 5,541,385 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Chipotle Mexican Grill by 30.6% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,845,627 shares of the restaurant operator’s stock worth $368,751,000 after purchasing an additional 2,541,795 shares in the last quarter. 91.30% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently commented on CMG shares. Guggenheim reiterated a “neutral” rating and set a $36.00 price objective (up from $35.00) on shares of Chipotle Mexican Grill in a research note on Friday, July 31st. Piper Sandler cut their price objective on Chipotle Mexican Grill from $42.00 to $39.00 and set an “overweight” rating on the stock in a report on Thursday, July 30th. Robert W. Baird restated a “neutral” rating and issued a $40.00 target price (down from $44.00) on shares of Chipotle Mexican Grill in a report on Monday, August 24th. Sanford C. Bernstein reissued an “outperform” rating on shares of Chipotle Mexican Grill in a research report on Friday, July 31st. Finally, JPMorgan Chase & Co. reduced their price objective on Chipotle Mexican Grill from $40.00 to $37.00 and set an “overweight” rating for the company in a research report on Tuesday, September 29th. Twenty-two analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $43.87.

Insider Buying and Selling

In other Chipotle Mexican Grill news, insider Matthew R. Bush sold 2,675 shares of Chipotle Mexican Grill stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $35.75, for a total transaction of $95,631.25. Following the sale, the insider directly owned 21,415 shares of the company’s stock, valued at approximately $765,586.25. The trade was a 11.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.45% of the stock is currently owned by corporate insiders.

Chipotle Mexican Grill Stock Performance

Shares of Chipotle Mexican Grill stock traded up $0.14 during trading on Thursday, reaching $30.66. The company’s stock had a trading volume of 5,802,718 shares, compared to its average volume of 17,680,521. The business’s fifty day moving average price is $34.09 and its 200-day moving average price is $33.49. The firm has a market cap of $38.80 billion, a price-to-earnings ratio of 28.10, a price-to-earnings-growth ratio of 1.86 and a beta of 0.96. Chipotle Mexican Grill, Inc. has a one year low of $28.03 and a one year high of $42.74.

Chipotle Mexican Grill (NYSE:CMG) last announced its quarterly earnings data on Wednesday, July 29th. The restaurant operator reported $0.33 earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $3.33 billion. During the same quarter last year, the company posted $0.33 earnings per share. Chipotle Mexican Grill’s quarterly revenue was up 9.3% on a year-over-year basis. Sell-side analysts anticipate that Chipotle Mexican Grill, Inc. will post 1.14 EPS for the current year.

About Chipotle Mexican Grill

Chipotle Mexican Grill, Inc is a fast-casual restaurant company that specializes in Mexican-inspired food made with a limited number of core ingredients. Its menu includes burritos, burrito bowls, tacos, quesadillas, salads and sides, with options such as chicken, steak, barbacoa, carnitas, sofritas and vegetables. The company also offers beverages, including soft drinks and other drinks, and allows customers to customize meals.

Founded by Steve Ells in 1993, Chipotle operates company-owned restaurants under the Chipotle Mexican Grill brand.