Adage Capital Partners GP L.L.C. Acquires 80,200 Shares of Chipotle Mexican Grill, Inc. $CMG

Key Points

• Adage Capital Partners GP L.L.C. increased its holdings in Chipotle Mexican Grill by 4.8%, acquiring an additional 80,200 shares, bringing their total ownership to approximately 1,741,450 shares valued at $87.4 million.
• Chipotle Mexican Grill's stock price has seen a decline of 0.9%, with shares currently trading at $41.75, amidst a market cap of approximately $55.98 billion.
• The company reported earnings of $0.33 per share for the last quarter, exceeding analysts' expectations, although revenue of $3.06 billion was slightly below the consensus estimate of $3.11 billion.

Adage Capital Partners GP L.L.C. boosted its holdings in Chipotle Mexican Grill, Inc. (NYSE:CMG - Free Report) by 4.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,741,450 shares of the restaurant operator's stock after purchasing an additional 80,200 shares during the quarter. Adage Capital Partners GP L.L.C. owned approximately 0.13% of Chipotle Mexican Grill worth $87,438,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Cloud Capital Management LLC bought a new position in Chipotle Mexican Grill in the 1st quarter worth approximately $25,000. Saudi Central Bank bought a new position in Chipotle Mexican Grill in the 1st quarter worth approximately $27,000. HighMark Wealth Management LLC boosted its stake in Chipotle Mexican Grill by 173.4% in the 1st quarter. HighMark Wealth Management LLC now owns 585 shares of the restaurant operator's stock worth $29,000 after purchasing an additional 371 shares during the period. North Capital Inc. bought a new position in shares of Chipotle Mexican Grill during the 1st quarter valued at approximately $30,000. Finally, ORG Wealth Partners LLC bought a new position in shares of Chipotle Mexican Grill during the 1st quarter valued at approximately $31,000. 91.30% of the stock is currently owned by institutional investors.

Chipotle Mexican Grill Stock Down 0.9%

Shares of CMG opened at $41.75 on Wednesday. The company has a market cap of $55.98 billion, a PE ratio of 37.28, a P/E/G ratio of 2.14 and a beta of 1.02. The business has a fifty day moving average of $48.15 and a 200 day moving average of $49.85. Chipotle Mexican Grill, Inc. has a 52-week low of $41.18 and a 52-week high of $66.74.

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. 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 $3.06 billion during the quarter, compared to the consensus estimate of $3.11 billion. Chipotle Mexican Grill had a return on equity of 43.50% and a net margin of 13.32%.Chipotle Mexican Grill's revenue was up 3.0% on a year-over-year basis. During the same period last year, the company earned $0.34 earnings per share. As a group, research analysts anticipate that Chipotle Mexican Grill, Inc. will post 1.29 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CMG. Guggenheim lowered their target price on Chipotle Mexican Grill from $47.00 to $46.00 and set a "neutral" rating for the company in a research report on Friday, July 25th. Piper Sandler upgraded Chipotle Mexican Grill from a "neutral" rating to an "overweight" rating and lowered their target price for the company from $53.00 to $50.00 in a research report on Tuesday, August 12th. Robert W. Baird lowered their target price on Chipotle Mexican Grill from $62.00 to $59.00 and set an "outperform" rating for the company in a research report on Thursday, July 24th. Stephens reiterated an "equal weight" rating and set a $60.00 target price on shares of Chipotle Mexican Grill in a research report on Thursday, July 24th. Finally, JPMorgan Chase & Co. lowered their target price on Chipotle Mexican Grill from $58.00 to $54.00 and set a "neutral" rating for the company in a research report on Thursday, May 29th. One analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and eight have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $60.22.

About Chipotle Mexican Grill

Chipotle Mexican Grill, Inc, together with its subsidiaries, owns and operates Chipotle Mexican Grill restaurants. It sells food and beverages through offering burritos, burrito bowls, quesadillas, tacos, and salads. The company also provides delivery and related services its app and website. It has operations in the United States, Canada, France, Germany, and the United Kingdom.

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