Chipotle Mexican Grill, Inc. (NYSE:CMG) Shares Purchased by Resona Asset Management Co. Ltd.

Key Points

• Resona Asset Management Co. Ltd. increased its stake in Chipotle Mexican Grill, acquiring an additional 29,225 shares, bringing its total holdings to $21.6 million.
• Chipotle Mexican Grill's stock increased by 2.8%, and the company reported a net margin of 13.32% in its most recent earnings results.
• Analysts have mixed views on Chipotle's stock, with recent ratings ranging from "neutral" to "buy", and an average price target of $60.61 suggesting potential upside.

Resona Asset Management Co. Ltd. boosted its position in Chipotle Mexican Grill, Inc. (NYSE:CMG - Free Report) by 7.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 430,797 shares of the restaurant operator's stock after purchasing an additional 29,225 shares during the period. Resona Asset Management Co. Ltd.'s holdings in Chipotle Mexican Grill were worth $21,611,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Revolve Wealth Partners LLC boosted its stake in Chipotle Mexican Grill by 4.7% in the 4th 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 during the period. Csenge Advisory Group boosted its stake in Chipotle Mexican Grill by 5.0% in the 1st quarter. Csenge Advisory Group now owns 4,603 shares of the restaurant operator's stock worth $222,000 after purchasing an additional 220 shares during the period. Money Concepts Capital Corp boosted its stake in Chipotle Mexican Grill by 3.0% in the 1st quarter. Money Concepts Capital Corp now owns 7,491 shares of the restaurant operator's stock worth $376,000 after purchasing an additional 221 shares during the period. Northwest Bank & Trust Co boosted its stake in Chipotle Mexican Grill by 0.5% in the 4th quarter. Northwest Bank & Trust Co now owns 45,324 shares of the restaurant operator's stock worth $2,788,000 after purchasing an additional 236 shares during the period. Finally, Covestor Ltd boosted its stake in Chipotle Mexican Grill by 5.3% in the 1st quarter. Covestor Ltd now owns 4,782 shares of the restaurant operator's stock worth $240,000 after purchasing an additional 242 shares during the period. 91.31% of the stock is currently owned by institutional investors and hedge funds.

Chipotle Mexican Grill Stock Up 2.8%

Shares of CMG stock opened at $42.78 on Wednesday. The company has a market cap of $57.36 billion, a price-to-earnings ratio of 38.19, a price-to-earnings-growth ratio of 2.12 and a beta of 1.05. Chipotle Mexican Grill, Inc. has a 52 week low of $41.18 and a 52 week high of $66.74. The firm has a 50 day moving average of $50.90 and a 200-day moving average of $51.41.

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The restaurant operator reported $0.33 earnings per share for the quarter, topping analysts' consensus estimates of $0.32 by $0.01. Chipotle Mexican Grill had a return on equity of 43.50% and a net margin of 13.32%. The company had revenue of $3.06 billion for the quarter, compared to analyst estimates of $3.11 billion. During the same period in the prior year, the firm earned $0.34 earnings per share. Chipotle Mexican Grill's revenue for the quarter was up 3.0% on a year-over-year basis. Analysts anticipate that Chipotle Mexican Grill, Inc. will post 1.29 earnings per share for the current year.

Insider Activity

In related news, insider Roger E. Theodoredis sold 113,875 shares of Chipotle Mexican Grill stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $49.70, for a total transaction of $5,659,587.50. Following the sale, the insider directly owned 109,815 shares in the company, valued at approximately $5,457,805.50. This trade represents a 50.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.02% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

CMG has been the topic of a number of research analyst reports. Guggenheim lowered their price objective on shares of Chipotle Mexican Grill from $47.00 to $46.00 and set a "neutral" rating on the stock in a research report on Friday, July 25th. TD Cowen lowered their price objective on shares of Chipotle Mexican Grill from $61.00 to $58.00 and set a "buy" rating on the stock in a research report on Wednesday, July 23rd. Truist Financial lowered their price objective on shares of Chipotle Mexican Grill from $64.00 to $60.00 and set a "buy" rating on the stock in a research report on Friday, July 25th. Piper Sandler raised shares of Chipotle Mexican Grill from a "neutral" rating to an "overweight" rating and lowered their price objective for the company from $53.00 to $50.00 in a research report on Tuesday. Finally, UBS Group boosted their price objective on shares of Chipotle Mexican Grill from $60.00 to $65.00 and gave the company a "buy" rating in a research report on Thursday, July 17th. Eight analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $60.61.

Chipotle Mexican Grill Company Profile

Chipotle Mexican Grill, Inc, together with its subsidiaries, owns and operates Chipotle Mexican Grill restaurants. It sells food and beverages through offering burritos, burrito bowls, quesadillas, tacos, and salads. The company also provides delivery and related services its app and website. It has operations in the United States, Canada, France, Germany, and the United Kingdom.

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