Van ECK Associates Corp Acquires 184,806 Shares of Chipotle Mexican Grill, Inc. $CMG

Van ECK Associates Corp increased its holdings in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG) by 3.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,567,087 shares of the restaurant operator’s stock after acquiring an additional 184,806 shares during the quarter. Van ECK Associates Corp’s holdings in Chipotle Mexican Grill were worth $189,281,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in CMG. Wealth Watch Advisors INC acquired a new position in shares of Chipotle Mexican Grill in the third quarter valued at $25,000. MV Capital Management Inc. acquired a new stake in shares of Chipotle Mexican Grill during the 4th quarter worth about $26,000. Osbon Capital Management LLC acquired a new stake in shares of Chipotle Mexican Grill during the 2nd quarter worth about $26,000. Meeder Asset Management Inc. acquired a new stake in shares of Chipotle Mexican Grill during the 2nd quarter worth about $27,000. Finally, Merkkuri Wealth Advisors LLC bought a new stake in shares of Chipotle Mexican Grill during the 1st quarter worth about $28,000. Institutional investors own 91.30% of the company’s stock.

Chipotle Mexican Grill Stock Up 2.3%

Shares of Chipotle Mexican Grill stock opened at $38.08 on Friday. The stock has a market capitalization of $48.19 billion, a price-to-earnings ratio of 34.94, a price-to-earnings-growth ratio of 2.37 and a beta of 0.94. Chipotle Mexican Grill, Inc. has a twelve month low of $28.03 and a twelve month high of $42.81. The company has a 50-day simple moving average of $34.33 and a two-hundred day simple moving average of $33.94.

Chipotle Mexican Grill (NYSE:CMG) last announced its earnings results on Wednesday, July 29th. The restaurant operator reported $0.33 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 company had revenue of $3.35 billion for the quarter, compared to analysts’ expectations of $3.33 billion. During the same period last year, the firm earned $0.33 earnings per share. The business’s revenue for the quarter was up 9.3% on a year-over-year basis. On average, sell-side analysts anticipate that Chipotle Mexican Grill, Inc. will post 1.14 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Chipotle Mexican Grill news, insider Matthew R. Bush sold 2,675 shares of the firm’s stock in a transaction 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 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.45% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on CMG. Morgan Stanley upped their price target on shares of Chipotle Mexican Grill from $37.00 to $39.00 and gave the company an “equal weight” rating in a research note on Thursday, July 30th. Citigroup cut their price objective on shares of Chipotle Mexican Grill from $46.00 to $45.00 and set a “buy” rating for the company in a research report on Monday, July 13th. Stephens restated a “positive” rating and set a $40.00 price objective (up from $36.00) on shares of Chipotle Mexican Grill in a report on Thursday, July 30th. TD Cowen reaffirmed a “buy” rating and issued a $44.00 target price on shares of Chipotle Mexican Grill in a research report on Thursday, July 30th. Finally, Raymond James Financial reiterated an “outperform” rating and set a $42.50 target price on shares of Chipotle Mexican Grill in a research note on Thursday, July 30th. Twenty-three analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $43.84.

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.