Assetmark Inc. Has $17.88 Million Position in Chipotle Mexican Grill, Inc. $CMG

Key Points

• Assetmark Inc. increased its Chipotle stake by 63.2% in the first quarter, buying 216,277 additional shares and ending with 558,547 shares worth about $17.88 million.
• Chipotle’s latest earnings were in line with expectations, reporting $0.24 EPS and $3.09 billion in revenue, with revenue up 7.4% year over year.
• Analysts remain generally positive but cautious: the stock has a consensus rating of “Moderate Buy” with a $43.86 target price, though some commentary notes valuation and margin pressure may limit upside.

Assetmark Inc. boosted its stake in Chipotle Mexican Grill, Inc. (NYSE:CMG - Free Report) by 63.2% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 558,547 shares of the restaurant operator's stock after purchasing an additional 216,277 shares during the quarter. Assetmark Inc.'s holdings in Chipotle Mexican Grill were worth $17,879,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Wealth Watch Advisors INC acquired a new position in Chipotle Mexican Grill during the 3rd quarter worth approximately $25,000. MV Capital Management Inc. acquired a new stake in Chipotle Mexican Grill in the fourth quarter valued at approximately $26,000. Osbon Capital Management LLC bought a new stake in shares of Chipotle Mexican Grill during the fourth quarter worth $28,000. Merkkuri Wealth Advisors LLC bought a new stake in shares of Chipotle Mexican Grill during the first quarter worth $28,000. Finally, Ankerstar Wealth LLC acquired a new position in shares of Chipotle Mexican Grill during the fourth quarter worth $33,000. Institutional investors own 91.30% of the company's stock.

Chipotle Mexican Grill Stock Performance

NYSE:CMG opened at $34.47 on Monday. The company has a market capitalization of $44.22 billion, a PE ratio of 31.63, a P/E/G ratio of 2.23 and a beta of 0.97. The company has a 50 day simple moving average of $32.60 and a two-hundred day simple moving average of $34.89. Chipotle Mexican Grill, Inc. has a fifty-two week low of $28.03 and a fifty-two week high of $54.29.

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) last released its earnings results on Wednesday, April 29th. The restaurant operator reported $0.24 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.24. The business had revenue of $3.09 billion for the quarter, compared to analyst estimates of $3.07 billion. Chipotle Mexican Grill had a net margin of 11.96% and a return on equity of 49.64%. Chipotle Mexican Grill's revenue for the quarter was up 7.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.29 earnings per share. Research analysts predict that Chipotle Mexican Grill, Inc. will post 1.13 EPS for the current year.

Chipotle Mexican Grill News Roundup

Here are the key news stories impacting Chipotle Mexican Grill this week:

• Positive Sentiment: Chipotle and Wendy’s said their restaurants were not affected by the cyclosporiasis outbreak linked to lettuce at some Taco Bell locations, easing fears that the issue would spread to other fast-casual chains. Reuters article on cyclosporiasis outbreak
• Positive Sentiment: Chipotle opened its first restaurant in Mexico, a long-awaited international debut that could expand the brand’s growth runway and support sentiment around future store growth. Reuters article on Mexico debut
• Neutral Sentiment: Several analysts and market commentary pieces framed CMG as having improving traffic and rewards growth, but also noted that valuation and margin pressure remain key debates for the stock. Yahoo Finance comparison article
• Neutral Sentiment: Some commentary said Chipotle still looks fully priced after its recent decline, suggesting valuation may limit upside even after the recent rebound. Yahoo Finance valuation article
• Negative Sentiment: At least one market update said Chipotle underperformed peers on Thursday, reinforcing that the stock has been volatile and is still recovering from a sharp year-to-date slide. MarketWatch underperformance article

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. TD Cowen reissued a "buy" rating and set a $44.00 price objective on shares of Chipotle Mexican Grill in a report on Thursday, April 30th. Stephens upped their target price on Chipotle Mexican Grill from $38.00 to $39.00 and gave the stock an "equal weight" rating in a report on Thursday, April 30th. Citigroup dropped their target price on 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. Morgan Stanley set a $37.00 price target on Chipotle Mexican Grill and gave the company an "equal weight" rating in a research note on Wednesday, June 3rd. Finally, Zacks Research upgraded Chipotle Mexican Grill from a "strong sell" rating to a "hold" rating in a report on Friday, April 17th. Twenty-three analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $43.86.

Chipotle Mexican Grill 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.

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.