Bank of America Corp DE Purchases 5,541,385 Shares of Chipotle Mexican Grill, Inc. $CMG

Bank of America Corp DE grew its position in Chipotle Mexican Grill, Inc. (NYSE:CMG - Free Report) by 86.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,973,752 shares of the restaurant operator's stock after buying an additional 5,541,385 shares during the quarter. Bank of America Corp DE owned 0.93% of Chipotle Mexican Grill worth $383,280,000 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 the company. Wealth Watch Advisors INC bought a new stake in shares of Chipotle Mexican Grill in the third quarter valued at about $25,000. MV Capital Management Inc. purchased a new stake in Chipotle Mexican Grill in the fourth quarter worth about $26,000. Osbon Capital Management LLC bought a new position in Chipotle Mexican Grill during the 4th quarter worth about $28,000. Merkkuri Wealth Advisors LLC bought a new position in Chipotle Mexican Grill during the 1st quarter worth about $28,000. Finally, Rule One Partners LLC purchased a new position in Chipotle Mexican Grill during the 1st quarter valued at about $32,000. Institutional investors own 91.30% of the company's stock.

Key Stories Impacting Chipotle Mexican Grill

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

• Positive Sentiment: Chipotle reported second-quarter adjusted EPS of $0.33, slightly above the $0.32 consensus, while revenue rose 9.3% year over year to $3.35 billion, broadly ahead of expectations. Chipotle Mexican Grill Stock Rallies as Q2 Results Top Fears, Guidance Rises
• Positive Sentiment: Comparable restaurant sales increased 2.2%, supported by improving customer traffic, menu innovation, digital engagement and restaurant expansion. Management raised its full-year comparable-sales outlook, signaling confidence that momentum is continuing. Chipotle shares rise on quarterly earnings beat, raised outlook
• Positive Sentiment: Analysts remained constructive following the results. DA Davidson raised its price target to $50 and maintained a Buy rating, while BTIG, TD Cowen and Mizuho also retained positive recommendations; Mizuho lifted its target to $43.
• Neutral Sentiment: Unusually heavy call-option activity and multiple price-target revisions indicate heightened investor interest, but these signals can also contribute to short-term volatility rather than establish a lasting trend.
• Negative Sentiment: Management said sales softened late in July amid consumer concerns about a cyclospora outbreak, although Chipotle stated it was not involved in the outbreak. The traffic disruption has raised questions about the durability of the recovery. Chipotle lifts its sales forecast even as a lettuce-linked outbreak slows foot traffic
• Negative Sentiment: Investors also remain concerned about labor and other operating costs pressuring margins. Piper Sandler lowered its target to $39 and Morgan Stanley and Stephens kept more cautious equal-weight ratings, limiting the stock’s upside after its sharp earnings-related advance.

Analyst Upgrades and Downgrades

CMG has been the subject of several recent research reports. BTIG Research restated a "buy" rating and issued a $45.00 price target on shares of Chipotle Mexican Grill in a report on Thursday. Evercore reissued an "outperform" rating and set a $47.00 price objective on shares of Chipotle Mexican Grill in a report on Thursday. Mizuho boosted their price objective on shares of Chipotle Mexican Grill from $40.00 to $41.00 and gave the stock an "outperform" rating in a research note on Monday, July 13th. Morgan Stanley boosted their price objective on shares of Chipotle Mexican Grill from $37.00 to $39.00 and gave the stock an "equal weight" rating in a research note on Thursday. Finally, JPMorgan Chase & Co. upgraded Chipotle Mexican Grill from a "neutral" rating to an "overweight" rating and lowered their target price for the stock from $38.00 to $35.00 in a report on Friday, June 5th. Twenty-four equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $43.98.

Chipotle Mexican Grill Stock Performance

NYSE:CMG opened at $37.31 on Monday. Chipotle Mexican Grill, Inc. has a fifty-two week low of $28.03 and a fifty-two week high of $44.27. The stock has a market capitalization of $47.86 billion, a P/E ratio of 34.23, a P/E/G ratio of 2.39 and a beta of 0.94. The company's 50-day simple moving average is $32.85 and its 200-day simple moving average is $34.58.

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The restaurant operator reported $0.33 EPS for the quarter, topping the consensus estimate of $0.32 by $0.01. Chipotle Mexican Grill had a net margin of 11.43% and a return on equity of 54.65%. The firm had revenue of $3.35 billion during the quarter, compared to analyst estimates of $3.33 billion. During the same quarter in the previous year, the business posted $0.33 EPS. Chipotle Mexican Grill's revenue was up 9.3% on a year-over-year basis. On average, research analysts forecast that Chipotle Mexican Grill, Inc. will post 1.14 EPS for the current year.

Chipotle Mexican Grill Company 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.

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