Beacon Pointe Advisors LLC Buys New Shares in Chipotle Mexican Grill, Inc. $CMG

Key Points

• Beacon Pointe Advisors acquired 101,669 Chipotle shares in the second quarter, valued at approximately $3.46 million. Institutional investors collectively own 91.30% of the company.
• Analysts maintain a generally positive outlook, with 23 Buy ratings and 10 Hold ratings. Chipotle has a consensus rating of “Moderate Buy” and an average price target of $43.84.
• Chipotle’s latest quarterly results slightly exceeded expectations, with EPS of $0.33 and revenue of $3.35 billion, up 9.3% year over year. The stock opened at $38.08, compared with a 12-month range of $28.03 to $42.81.

Beacon Pointe Advisors LLC acquired a new position in Chipotle Mexican Grill, Inc. (NYSE:CMG - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 101,669 shares of the restaurant operator's stock, valued at approximately $3,457,000.

Several other institutional investors have also recently modified their holdings of the company. Revolve Wealth Partners LLC raised its stake in shares of Chipotle Mexican Grill by 4.7% during the fourth quarter. Revolve Wealth Partners LLC now owns 4,804 shares of the restaurant operator's stock worth $290,000 after acquiring an additional 214 shares in the last quarter. Groupama Asset Managment raised its position in Chipotle Mexican Grill by 1.9% in the 4th quarter. Groupama Asset Managment now owns 15,596 shares of the restaurant operator's stock worth $568,000 after purchasing an additional 291 shares during the period. Catalyst Financial Partners LLC raised its position in Chipotle Mexican Grill by 4.6% in the 4th quarter. Catalyst Financial Partners LLC now owns 6,763 shares of the restaurant operator's stock worth $250,000 after purchasing an additional 298 shares during the period. Citizens Financial Group Inc. RI lifted its stake in Chipotle Mexican Grill by 2.5% in the first quarter. Citizens Financial Group Inc. RI now owns 12,708 shares of the restaurant operator's stock worth $407,000 after purchasing an additional 311 shares during the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC lifted its stake in Chipotle Mexican Grill by 14.3% in the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 2,523 shares of the restaurant operator's stock worth $93,000 after purchasing an additional 316 shares during the last quarter. 91.30% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CMG. Weiss Ratings raised Chipotle Mexican Grill from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Friday, August 7th. Sanford C. Bernstein reissued an "outperform" rating on shares of Chipotle Mexican Grill in a research note on Friday, July 31st. Evercore restated an "outperform" rating and set a $47.00 target price on shares of Chipotle Mexican Grill in a report on Thursday, July 30th. Argus raised their price target on Chipotle Mexican Grill from $40.00 to $45.00 and gave the stock a "buy" rating in a research report on Tuesday, August 4th. Finally, Guggenheim reaffirmed a "neutral" rating and issued a $36.00 price target (up from $35.00) on shares of Chipotle Mexican Grill in a research note on Friday, July 31st. Twenty-three investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat, Chipotle Mexican Grill currently has a consensus rating of "Moderate Buy" and a consensus price target of $43.84.

Chipotle Mexican Grill Stock Up 2.3%

NYSE:CMG opened at $38.08 on Friday. The firm's fifty day simple moving average is $34.33 and its 200 day simple moving average is $33.94. The stock has a market cap of $48.19 billion, a P/E ratio of 34.94, a price-to-earnings-growth ratio of 2.42 and a beta of 0.94. Chipotle Mexican Grill, Inc. has a twelve month low of $28.03 and a twelve month high of $42.81.

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) last issued 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 business had revenue of $3.35 billion during the quarter, compared to analyst estimates of $3.33 billion. During the same period in the prior year, the business earned $0.33 EPS. The company's revenue for the quarter was up 9.3% on a year-over-year basis. On average, analysts expect that Chipotle Mexican Grill, Inc. will post 1.14 EPS for the current fiscal year.

Insider Transactions at Chipotle Mexican Grill

In other Chipotle Mexican Grill news, insider Matthew R. Bush sold 2,675 shares of the firm's stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $35.75, for a total value of $95,631.25. Following the completion of the sale, the insider directly owned 21,415 shares in the company, valued at $765,586.25. This trade represents a 11.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.45% of the stock is currently owned by insiders.

About Chipotle Mexican Grill

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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