Banque Pictet & Cie SA Has $54.36 Million Stake in Chipotle Mexican Grill, Inc. $CMG

Key Points

• Banque Pictet & Cie SA increased its stake in Chipotle Mexican Grill by 1.4% in the second quarter, owning 968,162 shares valued at $54.36 million.
• Several large investors have also significantly increased their holdings in Chipotle, with 91.30% of the stock now owned by institutional investors and hedge funds.
• Chipotle Mexican Grill reported a quarterly revenue of $3.06 billion with a net margin of 13.32%, slightly missing analyst expectations of $3.11 billion.

Banque Pictet & Cie SA grew its position in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG - Free Report) by 1.4% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 968,162 shares of the restaurant operator's stock after acquiring an additional 12,934 shares during the quarter. Banque Pictet & Cie SA owned 0.07% of Chipotle Mexican Grill worth $54,362,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of CMG. Charles Schwab Investment Management Inc. lifted its stake in Chipotle Mexican Grill by 5.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 8,979,637 shares of the restaurant operator's stock valued at $450,868,000 after purchasing an additional 491,002 shares during the last quarter. Corient IA LLC acquired a new stake in Chipotle Mexican Grill during the 1st quarter worth approximately $753,000. Advisors Asset Management Inc. lifted its holdings in shares of Chipotle Mexican Grill by 32.4% during the first quarter. Advisors Asset Management Inc. now owns 75,368 shares of the restaurant operator's stock worth $3,784,000 after buying an additional 18,458 shares in the last quarter. Banco Santander S.A. grew its stake in shares of Chipotle Mexican Grill by 47.6% in the first quarter. Banco Santander S.A. now owns 31,764 shares of the restaurant operator's stock valued at $1,595,000 after acquiring an additional 10,246 shares in the last quarter. Finally, Community Trust & Investment Co. acquired a new stake in Chipotle Mexican Grill in the 1st quarter worth about $7,773,000. 91.30% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on CMG. BTIG Research reissued a "buy" rating and set a $57.00 target price on shares of Chipotle Mexican Grill in a report on Friday, September 5th. Rothschild & Co Redburn raised shares of Chipotle Mexican Grill from a "neutral" rating to a "buy" rating and set a $55.00 price target on the stock in a report on Wednesday, September 3rd. Stifel Nicolaus reduced their price target on Chipotle Mexican Grill from $65.00 to $60.00 and set a "buy" rating on the stock in a report on Tuesday, September 9th. JPMorgan Chase & Co. cut their price target on shares of Chipotle Mexican Grill from $58.00 to $54.00 and set a "neutral" rating on the stock in a report on Thursday, May 29th. Finally, Melius initiated coverage on shares of Chipotle Mexican Grill in a report on Monday, July 14th. They issued a "hold" rating and a $60.00 target price on the stock. Two analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $59.76.

Chipotle Mexican Grill Price Performance

Shares of NYSE CMG opened at $39.34 on Friday. The firm has a market capitalization of $52.75 billion, a PE ratio of 35.13, a P/E/G ratio of 2.01 and a beta of 1.02. Chipotle Mexican Grill, Inc. has a 1-year low of $38.30 and a 1-year high of $66.74. The business's fifty day moving average price is $42.75 and its two-hundred day moving average price is $48.32.

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. 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 13.32% and a return on equity of 43.50%. The business had revenue of $3.06 billion during the quarter, compared to analyst estimates of $3.11 billion. During the same quarter in the prior year, the firm earned $0.34 earnings per share. The company's quarterly revenue was up 3.0% on a year-over-year basis. Equities research analysts expect that Chipotle Mexican Grill, Inc. will post 1.29 earnings per share for the current fiscal year.

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.

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