Canandaigua National Bank & Trust Co. Invests $1.59 Million in Chipotle Mexican Grill, Inc. $CMG

Key Points

• Canandaigua National Bank & Trust purchased 46,914 Chipotle shares in the second quarter, valued at approximately $1.59 million. Institutional investors and hedge funds collectively own 91.3% of the company.
• Chipotle’s latest quarterly results exceeded expectations, with earnings of $0.33 per share and revenue of $3.35 billion, up 9.3% year over year. Analysts maintain a “Moderate Buy” consensus rating and an average price target of $44.16.
• Food-safety concerns remain a key risk after Chipotle removed jalapeños from Minnesota restaurants amid a Salmonella outbreak; management said the incident was not included in its annual financial targets.

Canandaigua National Bank & Trust Co. bought a new position in Chipotle Mexican Grill, Inc. (NYSE:CMG - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 46,914 shares of the restaurant operator's stock, valued at approximately $1,595,000.

Other institutional investors also recently bought and sold shares of the company. Norges Bank purchased a new stake in Chipotle Mexican Grill in the 4th quarter valued at about $711,837,000. Vanguard Group Inc. grew its position in Chipotle Mexican Grill by 14.8% during the fourth quarter. Vanguard Group Inc. now owns 144,588,220 shares of the restaurant operator's stock valued at $5,349,764,000 after acquiring an additional 18,660,882 shares during the period. Capital World Investors raised its holdings in shares of Chipotle Mexican Grill by 15.8% in the 4th quarter. Capital World Investors now owns 101,688,010 shares of the restaurant operator's stock worth $3,762,457,000 after purchasing an additional 13,843,222 shares during the period. Clearbridge Investments LLC grew its holdings in shares of Chipotle Mexican Grill by 206.4% during the 4th quarter. Clearbridge Investments LLC now owns 14,062,158 shares of the restaurant operator's stock worth $520,300,000 after purchasing an additional 9,473,120 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its holdings in Chipotle Mexican Grill by 18.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 58,447,867 shares of the restaurant operator's stock valued at $2,162,572,000 after buying an additional 9,237,720 shares during the period. 91.30% of the stock is currently owned by institutional investors and hedge funds.

Chipotle Mexican Grill Trading Up 1.8%

Chipotle Mexican Grill stock opened at $34.43 on Thursday. Chipotle Mexican Grill, Inc. has a 52 week low of $28.03 and a 52 week high of $44.27. The stock has a market cap of $43.57 billion, a P/E ratio of 31.59, a price-to-earnings-growth ratio of 2.16 and a beta of 0.94. The stock has a 50 day moving average of $33.01 and a 200-day moving average of $34.47.

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) last posted its quarterly earnings results on Wednesday, July 29th. The restaurant operator reported $0.33 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analysts' expectations of $3.33 billion. During the same period in the prior year, the company posted $0.33 earnings per share. The firm's quarterly revenue was up 9.3% on a year-over-year basis. As a group, equities analysts predict that Chipotle Mexican Grill, Inc. will post 1.14 earnings per share for the current fiscal year.

Chipotle Mexican Grill News Summary

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

• Positive Sentiment: Analyst support helped the stock recover. BTIG reaffirmed its “buy” rating and set a $45 price target, implying substantial upside from recent trading levels. Argus also raised its target to $45 while maintaining a “buy” rating. Why Is Chipotle Mexican Grill Stock Surging on Wednesday?
• Positive Sentiment: Underlying operating trends remain constructive. A recent review said Chipotle’s transaction slowdown appears to be reversing. Its latest quarterly results also showed revenue growth of 9.3% year over year to $3.35 billion, with adjusted earnings modestly above Wall Street expectations. Is Chipotle a Buy, Sell, or Hold After 2 Years of Volatility?
• Neutral Sentiment: Management said its annual targets do not include any financial impact from the Minnesota outbreak. This preserves the company’s previously issued outlook for now, but leaves open the possibility of incremental costs or weaker sales if the incident expands. Chipotle says annual targets do not include impact of Minnesota salmonella outbreak
• Negative Sentiment: Food-safety concerns remain the main risk. Chipotle removed jalapeños from several Minnesota restaurants after the peppers were potentially linked to a Salmonella outbreak that sickened more than 100 people. The company is cooperating with health authorities and has moved to another supplier, but the episode could cause store disruption, higher costs, reputational damage and renewed investor concerns about food-safety controls. Chipotle Pulls Jalapeños After Minnesota Salmonella Outbreak

Analysts Set New Price Targets

CMG has been the subject of several recent research reports. Argus increased their price target on Chipotle Mexican Grill from $40.00 to $45.00 and gave the company a "buy" rating in a report on Tuesday. Evercore reaffirmed an "outperform" rating and issued a $47.00 price objective on shares of Chipotle Mexican Grill in a research report on Thursday, July 30th. Stephens reissued a "positive" rating and set a $40.00 target price (up from $36.00) on shares of Chipotle Mexican Grill in a research report on Thursday, July 30th. Mizuho upped their target price on shares of Chipotle Mexican Grill from $40.00 to $41.00 and gave the company an "outperform" rating in a research note on Monday, July 13th. Finally, Raymond James Financial reaffirmed an "outperform" rating and set a $42.50 price target on shares of Chipotle Mexican Grill in a report on Thursday, July 30th. Twenty-four investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $44.16.

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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