Tocqueville Asset Management L.P. Buys 109,304 Shares of Chipotle Mexican Grill, Inc. $CMG

Tocqueville Asset Management L.P. raised its position in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG) by 23.3% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 577,487 shares of the restaurant operator’s stock after buying an additional 109,304 shares during the quarter. Tocqueville Asset Management L.P.’s holdings in Chipotle Mexican Grill were worth $22,632,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of CMG. Johnson Financial Group Inc. lifted its position in Chipotle Mexican Grill by 309.8% during the third quarter. Johnson Financial Group Inc. now owns 2,139 shares of the restaurant operator’s stock valued at $84,000 after acquiring an additional 1,617 shares during the last quarter. Bristol John W & Co. Inc. NY grew its holdings in Chipotle Mexican Grill by 38.4% in the third quarter. Bristol John W & Co. Inc. NY now owns 2,745,050 shares of the restaurant operator’s stock worth $107,579,000 after purchasing an additional 761,564 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its position in shares of Chipotle Mexican Grill by 24.7% during the third quarter. Arrowstreet Capital Limited Partnership now owns 11,433,637 shares of the restaurant operator’s stock worth $448,084,000 after purchasing an additional 2,265,122 shares in the last quarter. Invesco Ltd. increased its position in shares of Chipotle Mexican Grill by 27.7% during the third quarter. Invesco Ltd. now owns 7,667,640 shares of the restaurant operator’s stock worth $300,495,000 after purchasing an additional 1,664,508 shares in the last quarter. Finally, Magnolia Capital Advisors LLC lifted its holdings in shares of Chipotle Mexican Grill by 15.0% during the 3rd quarter. Magnolia Capital Advisors LLC now owns 19,171 shares of the restaurant operator’s stock valued at $751,000 after purchasing an additional 2,501 shares during the last quarter. 91.30% of the stock is currently owned by institutional investors.

Chipotle Mexican Grill Stock Performance

CMG stock traded up $0.19 during midday trading on Friday, reaching $32.75. The stock had a trading volume of 3,965,892 shares, compared to its average volume of 17,194,211. The firm has a fifty day simple moving average of $38.13 and a two-hundred day simple moving average of $37.64. Chipotle Mexican Grill, Inc. has a 52-week low of $29.75 and a 52-week high of $58.42. The stock has a market cap of $42.65 billion, a PE ratio of 28.70, a P/E/G ratio of 2.08 and a beta of 1.00.

Chipotle Mexican Grill (NYSE:CMG) last posted its quarterly earnings results on Tuesday, February 3rd. The restaurant operator reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.01. The business had revenue of $2.98 billion for the quarter, compared to the consensus estimate of $2.96 billion. Chipotle Mexican Grill had a return on equity of 47.99% and a net margin of 12.88%.The company’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.25 EPS. On average, sell-side analysts predict that Chipotle Mexican Grill, Inc. will post 1.29 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. DA Davidson began coverage on Chipotle Mexican Grill in a research report on Friday, March 6th. They issued a “buy” rating and a $51.00 price objective for the company. Mizuho reduced their target price on Chipotle Mexican Grill from $38.00 to $37.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 4th. Stephens reiterated an “equal weight” rating and issued a $35.00 price target on shares of Chipotle Mexican Grill in a research note on Wednesday, February 4th. Truist Financial raised their price target on Chipotle Mexican Grill from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Thursday, January 8th. Finally, Citigroup boosted their price target on Chipotle Mexican Grill from $48.00 to $49.00 and gave the stock a “buy” rating in a research note on Wednesday, February 4th. Twenty-three investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Chipotle Mexican Grill currently has a consensus rating of “Moderate Buy” and an average target price of $47.37.

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.