Chipotle Mexican Grill, Inc. $CMG Shares Newly Acquired by Ashurst Perkins Coie Trust Co

Key Points

• Ashurst Perkins Coie Trust Co acquired 37,994 Chipotle shares worth approximately $1.21 million in the third quarter. Institutional investors collectively own 91.3% of CMG, with several major firms increasing their positions.
• Analyst sentiment remains positive, with 23 Buy ratings and nine Holds resulting in a consensus “Moderate Buy” rating and a $43.91 price target.
• Chipotle recently exceeded quarterly expectations, reporting $0.33 earnings per share and $3.35 billion in revenue, up 9.3% year over year. Shares opened at $30.48, near the lower end of their 52-week range.

Ashurst Perkins Coie Trust Co purchased a new stake in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG - Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 37,994 shares of the restaurant operator's stock, valued at approximately $1,214,000.

Several other institutional investors have also added to or reduced their stakes in CMG. BlackRock Inc. purchased a new stake in shares of Chipotle Mexican Grill during the 2nd quarter worth approximately $4,417,475,000. Arrowstreet Capital Limited Partnership grew its holdings in shares of Chipotle Mexican Grill by 19.8% in the first quarter. Arrowstreet Capital Limited Partnership now owns 16,478,248 shares of the restaurant operator's stock valued at $527,469,000 after purchasing an additional 2,727,762 shares in the last quarter. Amundi grew its holdings in shares of Chipotle Mexican Grill by 23.3% in the first quarter. Amundi now owns 11,980,192 shares of the restaurant operator's stock valued at $383,486,000 after purchasing an additional 2,266,087 shares in the last quarter. Bank of America Corp DE increased its position in Chipotle Mexican Grill by 86.1% in the first quarter. Bank of America Corp DE now owns 11,973,752 shares of the restaurant operator's stock worth $383,280,000 after purchasing an additional 5,541,385 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Chipotle Mexican Grill by 30.6% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,845,627 shares of the restaurant operator's stock worth $368,751,000 after purchasing an additional 2,541,795 shares during the last quarter. Hedge funds and other institutional investors own 91.30% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on CMG. TD Cowen reaffirmed a "buy" rating and set a $44.00 price target on shares of Chipotle Mexican Grill in a research note on Thursday, July 30th. Sanford C. Bernstein reissued an "outperform" rating on shares of Chipotle Mexican Grill in a research note on Friday, July 31st. Morgan Stanley boosted their target price on shares of Chipotle Mexican Grill from $37.00 to $39.00 and gave the stock an "equal weight" rating in a report on Thursday, July 30th. Mizuho restated an "outperform" rating and set a $43.00 target price on shares of Chipotle Mexican Grill in a research report on Tuesday, September 1st. Finally, Guggenheim restated a "neutral" rating and set a $36.00 target price (up from $35.00) on shares of Chipotle Mexican Grill in a research report on Friday, July 31st. Twenty-three investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $43.91.

Chipotle Mexican Grill Stock Up 0.4%

NYSE CMG opened at $30.48 on Thursday. The company has a fifty day moving average of $34.09 and a two-hundred day moving average of $33.49. The firm has a market capitalization of $38.57 billion, a price-to-earnings ratio of 27.96, a PEG ratio of 1.86 and a beta of 0.96. Chipotle Mexican Grill, Inc. has a 52 week low of $28.03 and a 52 week high of $42.81.

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The restaurant operator reported $0.33 earnings per share for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $3.33 billion. During the same quarter in the previous year, the business posted $0.33 earnings per share. The business's revenue was up 9.3% compared to the same quarter last year. Equities research analysts anticipate that Chipotle Mexican Grill, Inc. will post 1.14 EPS for the current year.

Insiders Place Their Bets

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 owned 21,415 shares of the company's stock, valued at $765,586.25. This trade represents a 11.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.45% of the stock is owned by company insiders.

Chipotle Mexican Grill Profile

Chipotle Mexican Grill, Inc is a fast-casual restaurant company that specializes in Mexican-inspired food made with a limited number of core ingredients. Its menu includes burritos, burrito bowls, tacos, quesadillas, salads and sides, with options such as chicken, steak, barbacoa, carnitas, sofritas and vegetables. The company also offers beverages, including soft drinks and other drinks, and allows customers to customize meals.

Founded by Steve Ells in 1993, Chipotle operates company-owned restaurants under the Chipotle Mexican Grill brand.

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