Chipotle Mexican Grill, Inc. $CMG Shares Acquired by Arrowstreet Capital Limited Partnership

Key Points

• Arrowstreet Capital increased its Chipotle stake by 19.8% in the first quarter, buying 2.73 million additional shares and bringing its total holding to 16.48 million shares worth about $527.5 million.
• Institutional ownership of Chipotle remains very high, with hedge funds and other investors controlling 91.3% of the company’s stock.
• Analysts are mixed but still broadly positive: the consensus rating is Moderate Buy with an average price target of $43.86, while Chipotle recently reported quarterly EPS of $0.24 and revenue of $3.09 billion, both in line with or slightly above expectations.

Arrowstreet Capital Limited Partnership lifted its stake in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG - Free Report) by 19.8% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,478,248 shares of the restaurant operator's stock after purchasing an additional 2,727,762 shares during the period. Arrowstreet Capital Limited Partnership owned about 1.28% of Chipotle Mexican Grill worth $527,469,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Wealth Watch Advisors INC acquired a new stake in Chipotle Mexican Grill during the 3rd quarter worth $25,000. MV Capital Management Inc. acquired a new stake in Chipotle Mexican Grill in the 4th quarter valued at about $26,000. Osbon Capital Management LLC acquired a new stake in Chipotle Mexican Grill in the 4th quarter valued at about $28,000. Merkkuri Wealth Advisors LLC purchased a new position in Chipotle Mexican Grill during the first quarter worth approximately $28,000. Finally, Ankerstar Wealth LLC purchased a new position in Chipotle Mexican Grill during the fourth quarter worth approximately $33,000. Hedge funds and other institutional investors own 91.30% of the company's stock.

Analyst Upgrades and Downgrades

CMG has been the subject of a number of analyst reports. Barclays dropped their price objective on shares of Chipotle Mexican Grill from $40.00 to $38.00 and set an "equal weight" rating for the company in a report on Thursday, April 30th. Guggenheim lowered their price objective on Chipotle Mexican Grill from $36.00 to $35.00 and set a "neutral" rating for the company in a research report on Friday, May 1st. TD Cowen reaffirmed a "buy" rating and issued a $44.00 target price on shares of Chipotle Mexican Grill in a research report on Thursday, April 30th. Morgan Stanley set a $37.00 target price on shares of Chipotle Mexican Grill and gave the company an "equal weight" rating in a report on Wednesday, June 3rd. Finally, Citigroup cut their target price on Chipotle Mexican Grill from $46.00 to $45.00 and set a "buy" rating on the stock in a research report on Monday, July 13th. Twenty-three research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat.com, Chipotle Mexican Grill currently has a consensus rating of "Moderate Buy" and an average price target of $43.86.

Chipotle Mexican Grill Stock Performance

Shares of CMG opened at $32.01 on Friday. The stock has a 50-day simple moving average of $32.64 and a 200-day simple moving average of $34.76. The stock has a market capitalization of $41.06 billion, a PE ratio of 29.37, a PEG ratio of 2.10 and a beta of 0.97. Chipotle Mexican Grill, Inc. has a 1 year low of $28.03 and a 1 year high of $47.18.

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

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.

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