Alberta Investment Management Corp Raises Stake in Chipotle Mexican Grill, Inc. (NYSE:CMG)

Key Points

• Alberta Investment Management Corp increased its stake in Chipotle Mexican Grill by 426.2%, acquiring an additional 73,300 shares and owning a total of 90,500 shares valued at approximately $4.54 million.
• Chipotle's quarterly earnings showed $0.33 EPS, beating analyst estimates of $0.32, although revenue fell short of estimates at $3.06 billion.
• Most analysts maintain a buy rating for Chipotle, with an average target price revision suggesting a value of $60.71 per share.

Alberta Investment Management Corp grew its position in Chipotle Mexican Grill, Inc. (NYSE:CMG - Free Report) by 426.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 90,500 shares of the restaurant operator's stock after purchasing an additional 73,300 shares during the period. Alberta Investment Management Corp's holdings in Chipotle Mexican Grill were worth $4,544,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its stake in Chipotle Mexican Grill by 4,138,574.1% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 8,318,735 shares of the restaurant operator's stock valued at $501,620,000 after acquiring an additional 8,318,534 shares during the period. Voya Investment Management LLC lifted its stake in Chipotle Mexican Grill by 114.2% during the 4th quarter. Voya Investment Management LLC now owns 8,986,971 shares of the restaurant operator's stock valued at $541,914,000 after acquiring an additional 4,790,464 shares during the period. Montrusco Bolton Investments Inc. lifted its stake in Chipotle Mexican Grill by 5,319.7% during the 1st quarter. Montrusco Bolton Investments Inc. now owns 4,848,990 shares of the restaurant operator's stock valued at $235,580,000 after acquiring an additional 4,759,520 shares during the period. Manning & Napier Advisors LLC acquired a new stake in Chipotle Mexican Grill during the 1st quarter valued at approximately $127,892,000. Finally, Sarasin & Partners LLP lifted its stake in Chipotle Mexican Grill by 1,016.6% during the 1st quarter. Sarasin & Partners LLP now owns 2,482,333 shares of the restaurant operator's stock valued at $124,638,000 after acquiring an additional 2,260,016 shares during the period. 91.31% of the stock is owned by institutional investors and hedge funds.

Chipotle Mexican Grill Stock Down 0.8%

Shares of Chipotle Mexican Grill stock traded down $0.35 during trading hours on Friday, reaching $42.53. 19,080,870 shares of the company's stock were exchanged, compared to its average volume of 20,091,236. Chipotle Mexican Grill, Inc. has a 1 year low of $42.46 and a 1 year high of $66.74. The business has a fifty day moving average of $52.00 and a two-hundred day moving average of $52.08. The company has a market capitalization of $57.03 billion, a P/E ratio of 37.97, a price-to-earnings-growth ratio of 2.16 and a beta of 1.05.

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The restaurant operator reported $0.33 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.32 by $0.01. The firm had revenue of $3.06 billion during the quarter, compared to analyst estimates of $3.11 billion. Chipotle Mexican Grill had a net margin of 13.32% and a return on equity of 43.50%. Chipotle Mexican Grill's quarterly revenue was up 3.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.34 earnings per share. As a group, research analysts predict that Chipotle Mexican Grill, Inc. will post 1.29 EPS for the current year.

Insiders Place Their Bets

In other Chipotle Mexican Grill news, insider Roger E. Theodoredis sold 113,875 shares of the stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $49.70, for a total transaction of $5,659,587.50. Following the completion of the transaction, the insider owned 109,815 shares of the company's stock, valued at $5,457,805.50. This trade represents a 50.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.02% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

CMG has been the subject of several research reports. Piper Sandler lifted their price objective on shares of Chipotle Mexican Grill from $52.00 to $53.00 and gave the company a "neutral" rating in a research note on Thursday, July 24th. Citigroup decreased their price objective on shares of Chipotle Mexican Grill from $68.00 to $62.00 and set a "buy" rating for the company in a research note on Thursday, July 24th. Guggenheim decreased their target price on shares of Chipotle Mexican Grill from $47.00 to $46.00 and set a "neutral" rating for the company in a research note on Friday, July 25th. Evercore ISI decreased their target price on shares of Chipotle Mexican Grill from $64.00 to $57.00 and set an "outperform" rating for the company in a research note on Thursday, April 24th. Finally, BMO Capital Markets upgraded shares of Chipotle Mexican Grill from a "market perform" rating to an "outperform" rating and boosted their target price for the company from $56.00 to $65.00 in a research note on Friday, July 18th. Nine research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $60.71.

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.