211,923 Shares in Chipotle Mexican Grill, Inc. $CMG Acquired by Rakuten Investment Management Inc.

Key Points

• Rakuten Investment Management acquired 211,923 Chipotle shares during the second quarter, valued at approximately $6.99 million. Institutional investors collectively own 91.30% of the company.
• Chipotle exceeded quarterly expectations, reporting $0.33 in earnings per share versus the $0.32 consensus estimate and $3.35 billion in revenue, up 9.3% year over year.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $43.84, compared with the stock’s reported $38.08 opening price.

Rakuten Investment Management Inc. acquired a new position in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 211,923 shares of the restaurant operator's stock, valued at approximately $6,987,000.

A number of other hedge funds have also recently bought and sold shares of the company. Wealth Watch Advisors INC acquired a new stake in shares of Chipotle Mexican Grill in the 3rd quarter valued at $25,000. MV Capital Management Inc. acquired a new position in shares of Chipotle Mexican Grill during the fourth quarter valued at $26,000. Osbon Capital Management LLC acquired a new position in shares of Chipotle Mexican Grill during the second quarter valued at $26,000. Meeder Asset Management Inc. bought a new position in Chipotle Mexican Grill in the second quarter valued at about $27,000. Finally, Merkkuri Wealth Advisors LLC bought a new position in Chipotle Mexican Grill in the first quarter valued at about $28,000. 91.30% of the stock is currently owned by institutional investors.

Chipotle Mexican Grill Price Performance

Shares of NYSE:CMG opened at $38.08 on Friday. The company has a market capitalization of $48.19 billion, a price-to-earnings ratio of 34.94, a P/E/G ratio of 2.42 and a beta of 0.94. The firm's 50 day simple moving average is $34.33 and its 200 day simple moving average is $33.94. Chipotle Mexican Grill, Inc. has a fifty-two week low of $28.03 and a fifty-two week high of $42.81.

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The restaurant operator reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.01. The business had revenue of $3.35 billion for the quarter, compared to analyst estimates of $3.33 billion. Chipotle Mexican Grill had a net margin of 11.43% and a return on equity of 54.65%. Chipotle Mexican Grill's quarterly revenue was up 9.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.33 EPS. Equities research analysts expect that Chipotle Mexican Grill, Inc. will post 1.14 earnings per share for the current year.

Insiders Place Their Bets

In other Chipotle Mexican Grill news, insider Matthew R. Bush sold 2,675 shares of the stock in a transaction on Friday, August 21st. The shares were sold at an average price of $35.75, for a total value of $95,631.25. Following the sale, the insider directly owned 21,415 shares in the company, valued at approximately $765,586.25. This trade represents a 11.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.45% of the company's stock.

Analysts Set New Price Targets

CMG has been the subject of a number of research reports. Guggenheim reiterated a "neutral" rating and issued a $36.00 price objective (up from $35.00) on shares of Chipotle Mexican Grill in a research report on Friday, July 31st. UBS Group reaffirmed a "buy" rating on shares of Chipotle Mexican Grill in a research note on Friday, July 31st. Sanford C. Bernstein reiterated an "outperform" rating on shares of Chipotle Mexican Grill in a research report on Friday, July 31st. Mizuho lifted their price target 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. Finally, Evercore reissued an "outperform" rating and set a $47.00 price target on shares of Chipotle Mexican Grill in a research note on Thursday, July 30th. Twenty-three equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $43.84.

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.

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