Cibc World Market Inc. Purchases New Holdings in Chipotle Mexican Grill, Inc. $CMG

Cibc World Market Inc. purchased a new position in Chipotle Mexican Grill, Inc. (NYSE:CMG) during the 2nd quarter, HoldingsChannel.com reports. The firm purchased 151,317 shares of the restaurant operator’s stock, valued at approximately $5,145,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of CMG. Vanguard Group Inc. lifted its position in shares of Chipotle Mexican Grill by 14.8% during the fourth quarter. Vanguard Group Inc. now owns 144,588,220 shares of the restaurant operator’s stock worth $5,349,764,000 after purchasing an additional 18,660,882 shares during the last quarter. BlackRock Inc. bought a new position in shares of Chipotle Mexican Grill in the second quarter worth about $4,417,475,000. Capital World Investors grew its holdings in shares of Chipotle Mexican Grill by 15.8% in the fourth quarter. Capital World Investors now owns 101,688,010 shares of the restaurant operator’s stock worth $3,762,457,000 after purchasing an additional 13,843,222 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in Chipotle Mexican Grill by 18.8% in 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. Finally, Capital International Investors increased its stake in Chipotle Mexican Grill by 17.7% in the 4th quarter. Capital International Investors now owns 45,294,212 shares of the restaurant operator’s stock worth $1,675,895,000 after buying an additional 6,796,285 shares during the period. 91.30% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on CMG shares. Barclays decreased their price objective on shares of Chipotle Mexican Grill from $40.00 to $38.00 and set an “equal weight” rating for the company in a report on Thursday, April 30th. JPMorgan Chase & Co. raised shares of Chipotle Mexican Grill from a “neutral” rating to an “overweight” rating and reduced their target price for the stock from $38.00 to $35.00 in a research report on Friday, June 5th. Argus lifted their price target on shares of Chipotle Mexican Grill from $40.00 to $45.00 and gave the company a “buy” rating in a research note on Tuesday, August 4th. UBS Group reaffirmed a “buy” rating on shares of Chipotle Mexican Grill in a research note on Friday, July 31st. Finally, Morgan Stanley boosted their price target on Chipotle Mexican Grill from $37.00 to $39.00 and gave the company an “equal weight” rating in a report on Thursday, July 30th. Twenty-three analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $43.84.

Insiders Place Their Bets

In other news, insider Matthew R. Bush sold 2,675 shares of the business’s stock in a transaction dated 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 owned 21,415 shares in the company, valued at approximately $765,586.25. The trade was a 11.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.45% of the stock is currently owned by company insiders.

Key Stories Impacting Chipotle Mexican Grill

Here are the key news stories impacting Chipotle Mexican Grill this week:

• Positive Sentiment: Chipotle launched a new “Every Win Tastes Better” promotion with tennis player Taylor Fritz, offering BOGO entrées after his U.S. Open victories. The campaign follows record redemptions from the company’s back-to-school promotion and could support restaurant traffic, digital engagement and near-term sales. Chipotle Taylor Fritz promotion
• Positive Sentiment: Investors remain encouraged by Chipotle’s digital initiatives, menu innovation and unit-expansion plans, which could provide longer-term revenue growth and help explain the stock’s recent strength. Chipotle growth outlook
• Neutral Sentiment: CMG continued to rise despite a Baird downgrade because the firm’s Neutral rating still carries a $40 price target, while recent momentum and promotional activity appear to be outweighing the more cautious analyst view. Chipotle stock gains after downgrade
• Negative Sentiment: Baird lowered its rating to Neutral and cut its price target to $40 from $44, arguing that Chipotle may need to spend considerably more to generate slower sales growth. Rising labor, marketing and operating costs could pressure margins and limit valuation upside. Baird Chipotle downgrade
• Negative Sentiment: Insider Matthew R. Bush sold 2,675 shares worth approximately $95,631, reducing his direct stake by 11.1%. The transaction may modestly weigh on sentiment, although one insider sale does not necessarily signal deteriorating business conditions. SEC insider filing

Chipotle Mexican Grill Price Performance

NYSE:CMG opened at $37.50 on Wednesday. Chipotle Mexican Grill, Inc. has a 1-year low of $28.03 and a 1-year high of $43.13. The company has a 50-day moving average of $34.01 and a 200 day moving average of $33.94. The firm has a market cap of $47.45 billion, a PE ratio of 34.40, a price-to-earnings-growth ratio of 2.42 and a beta of 0.94.

Chipotle Mexican Grill (NYSE:CMG) last posted its earnings results on Wednesday, July 29th. The restaurant operator reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.01. Chipotle Mexican Grill had a return on equity of 54.65% and a net margin of 11.43%.The company had revenue of $3.35 billion during the quarter, compared to analyst estimates of $3.33 billion. During the same quarter in the prior year, the business earned $0.33 earnings per share. Chipotle Mexican Grill’s 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 fiscal year.

About Chipotle Mexican Grill

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.