7,070,279 Shares in Chipotle Mexican Grill, Inc. $CMG Bought by Man Group plc

Key Points

• Man Group plc acquired 7.07 million Chipotle shares worth approximately $240.4 million, giving it a 0.56% stake. Institutional investors collectively own 91.3% of CMG.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $43.84, although Baird downgraded the stock to Neutral and reduced its target to $40.
• Chipotle exceeded quarterly expectations, reporting $0.33 in EPS and $3.35 billion in revenue, with revenue up 9.3% year over year. Separately, insider Matthew R. Bush sold 2,675 shares for about $95,600.

Man Group plc bought a new stake in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 7,070,279 shares of the restaurant operator's stock, valued at approximately $240,389,000. Man Group plc owned approximately 0.56% of Chipotle Mexican Grill as of its most recent filing with the Securities & Exchange Commission.

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

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Evercore reaffirmed an "outperform" rating and issued a $47.00 price objective on shares of Chipotle Mexican Grill in a research note on Thursday, July 30th. Robert W. Baird reiterated a "neutral" rating and set a $40.00 target price (down from $44.00) on shares of Chipotle Mexican Grill in a research report on Monday. JPMorgan Chase & Co. raised shares of Chipotle Mexican Grill from a "neutral" rating to an "overweight" rating and cut their target price for the company from $38.00 to $35.00 in a report on Friday, June 5th. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $45.00 price target on shares of Chipotle Mexican Grill in a research note on Thursday, April 30th. Finally, Citigroup lowered 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. Twenty-three investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus 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 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 owned 21,415 shares of the company's stock, valued at approximately $765,586.25. This represents a 11.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.45% of the stock is owned by company insiders.

Key Chipotle Mexican Grill News

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 Stock Performance

NYSE CMG opened at $37.50 on Wednesday. The business's 50 day moving average price is $34.01 and its 200-day moving average price is $33.94. Chipotle Mexican Grill, Inc. has a fifty-two week low of $28.03 and a fifty-two week high of $43.13. The company has a market cap of $47.45 billion, a P/E ratio of 34.40, a P/E/G ratio of 2.42 and a beta of 0.94.

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The restaurant operator reported $0.33 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.32 by $0.01. The company had revenue of $3.35 billion during the quarter, compared to the consensus estimate of $3.33 billion. Chipotle Mexican Grill had a return on equity of 54.65% and a net margin of 11.43%.Chipotle Mexican Grill's revenue was up 9.3% on a year-over-year basis. During the same period last year, the company earned $0.33 earnings per share. As a group, equities analysts predict that Chipotle Mexican Grill, Inc. will post 1.14 EPS for the current year.

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.

Want to see what other hedge funds are holding CMG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Chipotle Mexican Grill, Inc. (NYSE:CMG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source