Chipotle Mexican Grill, Inc. $CMG Stock: ZWJ Investment Counsel Inc. Grows Holdings

Key Points

• ZWJ Investment Counsel increased its Chipotle stake by 2,237.1% in the third quarter, reaching 171,938 shares valued at approximately $5.49 million. Other institutional investors also raised their positions, with institutions owning 91.30% of CMG stock.
• Analysts maintain a generally positive outlook, with 23 Buy ratings and nine Holds producing a consensus “Moderate Buy” rating and an average price target of $43.91.
• Chipotle’s latest quarterly results slightly exceeded expectations, reporting $0.33 earnings per share and $3.35 billion in revenue, up 9.3% year over year. Shares opened at $30.48, below their 52-week high of $42.81.

ZWJ Investment Counsel Inc. boosted its position in Chipotle Mexican Grill, Inc. (NYSE:CMG - Free Report) by 2,237.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 171,938 shares of the restaurant operator's stock after purchasing an additional 164,581 shares during the period. ZWJ Investment Counsel Inc.'s holdings in Chipotle Mexican Grill were worth $5,493,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CMG. Mather Group LLC. boosted its position in shares of Chipotle Mexican Grill by 3,324.5% during the 3rd quarter. Mather Group LLC. now owns 407,133 shares of the restaurant operator's stock valued at $13,008,000 after purchasing an additional 395,244 shares in the last quarter. Finward Bancorp grew its stake in shares of Chipotle Mexican Grill by 99.8% in the 3rd quarter. Finward Bancorp now owns 14,983 shares of the restaurant operator's stock worth $479,000 after purchasing an additional 7,483 shares during the last quarter. Triumph Capital Management grew its stake in shares of Chipotle Mexican Grill by 4,948.3% in the 3rd quarter. Triumph Capital Management now owns 9,087 shares of the restaurant operator's stock worth $290,000 after purchasing an additional 8,907 shares during the last quarter. Seelaus Asset Management LLC grew its stake in shares of Chipotle Mexican Grill by 122.2% in the 3rd quarter. Seelaus Asset Management LLC now owns 15,027 shares of the restaurant operator's stock worth $480,000 after purchasing an additional 8,263 shares during the last quarter. Finally, First Citizens Bank & Trust Co. raised its holdings in shares of Chipotle Mexican Grill by 1,494.0% in the 3rd quarter. First Citizens Bank & Trust Co. now owns 169,559 shares of the restaurant operator's stock worth $5,417,000 after purchasing an additional 158,922 shares in the last quarter. 91.30% of the stock is owned by institutional investors.

Insider Buying and Selling at Chipotle Mexican Grill

In other news, insider Matthew R. Bush sold 2,675 shares of the stock in a transaction that occurred on 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 of the company's stock, valued at $765,586.25. This represents a 11.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.45% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts recently commented on CMG shares. Sanford C. Bernstein reissued an "outperform" rating on shares of Chipotle Mexican Grill in a research note on Friday, July 31st. BTIG Research restated a "buy" rating and issued a $45.00 price target on shares of Chipotle Mexican Grill in a research report on Wednesday, August 5th. JPMorgan Chase & Co. decreased their price target on shares of Chipotle Mexican Grill from $40.00 to $37.00 and set an "overweight" rating on the stock in a research report on Tuesday, September 29th. Mizuho reaffirmed an "outperform" rating and issued a $43.00 price target on shares of Chipotle Mexican Grill in a report on Tuesday, September 1st. Finally, Weiss Ratings upgraded Chipotle Mexican Grill from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Friday, August 7th. Twenty-three analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $43.91.

Chipotle Mexican Grill Trading Up 0.4%

Shares of CMG stock opened at $30.48 on Thursday. Chipotle Mexican Grill, Inc. has a 1-year low of $28.03 and a 1-year high of $42.81. The company has a market capitalization of $38.57 billion, a price-to-earnings ratio of 27.96, a P/E/G ratio of 1.86 and a beta of 0.96. The stock's fifty day simple moving average is $34.09 and its 200-day simple moving average is $33.49.

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 for the quarter, beating the consensus estimate of $0.32 by $0.01. Chipotle Mexican Grill had a return on equity of 54.65% and a net margin of 11.43%. The firm had revenue of $3.35 billion for the quarter, compared to analyst estimates of $3.33 billion. During the same period in the previous year, the firm earned $0.33 earnings per share. Chipotle Mexican Grill's quarterly revenue was up 9.3% on a year-over-year basis. On average, sell-side analysts predict that Chipotle Mexican Grill, Inc. will post 1.14 EPS for the current year.

Chipotle Mexican Grill Company 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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