Assetmark Inc. Has $25.34 Million Position in Chipotle Mexican Grill, Inc. (NYSE:CMG)

Key Points

• Assetmark Inc. increased its stake in Chipotle Mexican Grill by 10.1% during the first quarter, owning 504,685 shares now valued at approximately $25.34 million.
• Chipotle reported earnings of $0.33 per share for the last quarter, slightly exceeding expectations, with revenues of $3.06 billion, a 3.0% year-over-year increase.
• Wall Street analysts are optimistic about Chipotle, with 19 "buy" ratings and a price target averaging $60.71, reflecting a consensus rating of "Moderate Buy."

Assetmark Inc. lifted its holdings in Chipotle Mexican Grill, Inc. (NYSE:CMG - Free Report) by 10.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 504,685 shares of the restaurant operator's stock after purchasing an additional 46,427 shares during the period. Assetmark Inc.'s holdings in Chipotle Mexican Grill were worth $25,340,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in CMG. Cloud Capital Management LLC acquired a new stake in Chipotle Mexican Grill during the 1st quarter worth about $25,000. HighMark Wealth Management LLC increased its position in shares of Chipotle Mexican Grill by 173.4% in the first quarter. HighMark Wealth Management LLC now owns 585 shares of the restaurant operator's stock worth $29,000 after acquiring an additional 371 shares in the last quarter. North Capital Inc. acquired a new stake in shares of Chipotle Mexican Grill during the first quarter valued at approximately $30,000. ORG Wealth Partners LLC acquired a new stake in shares of Chipotle Mexican Grill during the first quarter valued at approximately $31,000. Finally, Murphy & Mullick Capital Management Corp purchased a new position in Chipotle Mexican Grill during the 4th quarter worth approximately $38,000. 91.31% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently weighed in on CMG. KeyCorp lowered their price target on Chipotle Mexican Grill from $60.00 to $58.00 and set an "overweight" rating on the stock in a report on Thursday, July 24th. Robert W. Baird dropped their target price on Chipotle Mexican Grill from $62.00 to $59.00 and set an "outperform" rating on the stock in a report on Thursday, July 24th. Loop Capital reduced their price target on shares of Chipotle Mexican Grill from $65.00 to $63.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. Barclays decreased their price target on shares of Chipotle Mexican Grill from $55.00 to $53.00 and set an "equal weight" rating for the company in a report on Thursday, July 24th. Finally, Argus downgraded shares of Chipotle Mexican Grill from a "buy" rating to a "hold" rating in a research report on Monday, April 28th. Nine investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $60.71.

Insider Activity at Chipotle Mexican Grill

In other news, insider Roger E. Theodoredis sold 113,875 shares of the business's stock in a transaction that occurred on 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 directly 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 SEC, which is accessible through the SEC website. Corporate insiders own 1.02% of the company's stock.

Chipotle Mexican Grill Stock Down 0.5%

NYSE CMG traded down $0.23 during midday trading on Wednesday, hitting $44.15. The company had a trading volume of 10,790,281 shares, compared to its average volume of 13,648,839. The firm has a fifty day simple moving average of $52.46 and a two-hundred day simple moving average of $52.41. Chipotle Mexican Grill, Inc. has a fifty-two week low of $43.75 and a fifty-two week high of $66.74. The stock has a market cap of $59.49 billion, a price-to-earnings ratio of 39.38, a P/E/G ratio of 2.28 and a beta of 1.08.

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

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.