Chipotle Mexican Grill, Inc. $CMG Shares Bought by Mirae Asset Global Investments Co. Ltd.

Key Points

• Mirae Asset increased its stake in Chipotle by 19.0% in Q4 to 208,968 shares (worth $7.73 million), and institutional investors now own about 91.3% of the company.
• Analyst sentiment is mixed but leans positive with an average rating of "Moderate Buy" and an average price target of $47.13, amid recent upgrades and target cuts from several firms.
• Chipotle slightly beat expectations for the quarter (EPS $0.25 vs. $0.24; revenue $2.98B vs. $2.96B), and the stock trades near $35.78 with a 52-week range of $29.75–$58.42.

Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG - Free Report) by 19.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 208,968 shares of the restaurant operator's stock after purchasing an additional 33,418 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in Chipotle Mexican Grill were worth $7,732,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of CMG. Revolve Wealth Partners LLC lifted 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 purchasing an additional 214 shares in the last quarter. Bison Wealth LLC acquired a new position in shares of Chipotle Mexican Grill during the fourth quarter worth about $224,000. Empowered Funds LLC lifted its stake in shares of Chipotle Mexican Grill by 5.5% during the first quarter. Empowered Funds LLC now owns 26,460 shares of the restaurant operator's stock worth $1,329,000 after purchasing an additional 1,368 shares in the last quarter. Osterweis Capital Management Inc. lifted its stake in shares of Chipotle Mexican Grill by 7,176.0% during the second quarter. Osterweis Capital Management Inc. now owns 1,819 shares of the restaurant operator's stock worth $102,000 after purchasing an additional 1,794 shares in the last quarter. Finally, Ieq Capital LLC lifted its stake in shares of Chipotle Mexican Grill by 88.8% during the second quarter. Ieq Capital LLC now owns 274,375 shares of the restaurant operator's stock worth $15,406,000 after purchasing an additional 129,066 shares in the last quarter. Institutional investors and hedge funds own 91.30% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have commented on CMG shares. Wall Street Zen upgraded Chipotle Mexican Grill from a "sell" rating to a "hold" rating in a research note on Saturday, March 7th. Barclays lowered their target price on Chipotle Mexican Grill from $44.00 to $40.00 and set an "equal weight" rating for the company in a research note on Wednesday, February 4th. Citigroup lowered their target price on Chipotle Mexican Grill from $49.00 to $44.00 and set a "buy" rating for the company in a research note on Tuesday, April 14th. Mizuho upgraded Chipotle Mexican Grill from a "neutral" rating to an "outperform" rating and raised their target price for the company from $37.00 to $40.00 in a research note on Friday, March 20th. Finally, Gordon Haskett lowered Chipotle Mexican Grill from a "strong-buy" rating to a "hold" rating in a research note on Thursday, January 8th. Twenty-four research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $47.13.

Chipotle Mexican Grill Stock Down 0.2%

Shares of NYSE CMG opened at $35.78 on Tuesday. The firm has a market cap of $46.59 billion, a PE ratio of 31.38, a price-to-earnings-growth ratio of 2.18 and a beta of 1.06. The business has a 50 day moving average price of $34.89 and a two-hundred day moving average price of $36.30. Chipotle Mexican Grill, Inc. has a fifty-two week low of $29.75 and a fifty-two week high of $58.42.

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) last issued its earnings results on Tuesday, February 3rd. The restaurant operator reported $0.25 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.24 by $0.01. The business had revenue of $2.98 billion for the quarter, compared to analyst estimates of $2.96 billion. Chipotle Mexican Grill had a net margin of 12.88% and a return on equity of 47.99%. The company's revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.25 EPS. On average, analysts anticipate that Chipotle Mexican Grill, Inc. will post 1.14 earnings per share 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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