Chipotle Mexican Grill, Inc. (NYSE:CMG) Shares Purchased by AGF Management Ltd.

Key Points

• AGF Management Ltd. increased its stake in Chipotle Mexican Grill by 68.9%, acquiring 614,481 shares during the first quarter, bringing its total ownership to approximately $75.6 million.
• Chipotle Mexican Grill's stock has seen significant action, with a recent drop of 2.9% and a 12-month price range between $41.43 and $66.74.
• A number of analysts have adjusted their target prices for Chipotle, with ratings ranging from "buy" to "neutral", reflecting varying expectations in the stock's performance.

AGF Management Ltd. raised its stake in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG - Free Report) by 68.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,506,035 shares of the restaurant operator's stock after purchasing an additional 614,481 shares during the period. AGF Management Ltd. owned 0.11% of Chipotle Mexican Grill worth $75,618,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Public Sector Pension Investment Board lifted its stake in shares of Chipotle Mexican Grill by 238.6% during the 1st quarter. Public Sector Pension Investment Board now owns 573,473 shares of the restaurant operator's stock worth $28,794,000 after acquiring an additional 404,127 shares during the last quarter. AIA Group Ltd raised its position in Chipotle Mexican Grill by 1.5% during the 1st quarter. AIA Group Ltd now owns 31,600 shares of the restaurant operator's stock valued at $1,587,000 after purchasing an additional 454 shares in the last quarter. Motley Fool Asset Management LLC raised its position in Chipotle Mexican Grill by 5.8% during the 1st quarter. Motley Fool Asset Management LLC now owns 76,726 shares of the restaurant operator's stock valued at $3,852,000 after purchasing an additional 4,198 shares in the last quarter. Meridian Wealth Management LLC raised its position in Chipotle Mexican Grill by 20.7% during the 1st quarter. Meridian Wealth Management LLC now owns 13,030 shares of the restaurant operator's stock valued at $654,000 after purchasing an additional 2,235 shares in the last quarter. Finally, SouthState Corp raised its position in Chipotle Mexican Grill by 139.5% during the 1st quarter. SouthState Corp now owns 1,796 shares of the restaurant operator's stock valued at $90,000 after purchasing an additional 1,046 shares in the last quarter. 91.31% of the stock is currently owned by hedge funds and other institutional investors.

Chipotle Mexican Grill Stock Performance

NYSE CMG traded up $0.19 during trading on Wednesday, reaching $43.02. 1,527,860 shares of the company's stock were exchanged, compared to its average volume of 13,980,859. The stock has a market cap of $57.69 billion, a P/E ratio of 38.33, a price-to-earnings-growth ratio of 2.12 and a beta of 1.05. The company has a 50 day moving average price of $50.90 and a two-hundred day moving average price of $51.41. Chipotle Mexican Grill, Inc. has a 1 year low of $41.18 and a 1 year high of $66.74.

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) last announced 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 for the quarter was up 3.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.34 EPS. Research analysts forecast that Chipotle Mexican Grill, Inc. will post 1.29 EPS for the current fiscal year.

Insider Activity at Chipotle Mexican Grill

In other news, insider Roger E. Theodoredis sold 113,875 shares of Chipotle Mexican Grill stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $49.70, for a total transaction of $5,659,587.50. Following the sale, the insider owned 109,815 shares in the company, valued at approximately $5,457,805.50. The trade was a 50.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.02% of the company's stock.

Analyst Upgrades and Downgrades

CMG has been the subject of several recent research reports. Stephens reissued an "equal weight" rating and issued a $60.00 price target on shares of Chipotle Mexican Grill in a research report on Thursday, July 24th. JPMorgan Chase & Co. dropped their target price on Chipotle Mexican Grill from $58.00 to $54.00 and set a "neutral" rating on the stock in a research note on Thursday, May 29th. Truist Financial dropped their target price on Chipotle Mexican Grill from $64.00 to $60.00 and set a "buy" rating on the stock in a research note on Friday, July 25th. TD Cowen dropped their target price on Chipotle Mexican Grill from $61.00 to $58.00 and set a "buy" rating on the stock in a research note on Wednesday, July 23rd. Finally, Evercore ISI dropped their price target on Chipotle Mexican Grill from $64.00 to $57.00 and set an "outperform" rating on the stock in a research note on Thursday, April 24th. Eight analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $60.61.

Chipotle Mexican Grill Company Profile

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.