Corient Private Wealth LP Makes New Investment in Chipotle Mexican Grill, Inc. $CMG

Key Points

• Corient Private Wealth acquired 190,974 Chipotle shares during the second quarter, valued at approximately $6.49 million. Hedge funds and other institutional investors collectively own 91.30% of CMG.
• Analysts remain broadly positive, with 23 Buy ratings and 10 Hold ratings. Chipotle has a consensus rating of “Moderate Buy” and an average price target of $43.84.
• Chipotle slightly exceeded quarterly expectations, reporting $0.33 earnings per share and $3.35 billion in revenue, with revenue up 9.3% year over year. The stock opened at $38.08, near the middle of its 12-month range.

Corient Private Wealth LP acquired a new stake in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG - Free Report) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 190,974 shares of the restaurant operator's stock, valued at approximately $6,490,000.

Other hedge funds have also modified their holdings of the company. Wealth Watch Advisors INC acquired a new position in shares of Chipotle Mexican Grill during the 3rd quarter worth $25,000. MV Capital Management Inc. bought a new stake in shares of Chipotle Mexican Grill during the fourth quarter valued at approximately $26,000. Osbon Capital Management LLC bought a new position in shares of Chipotle Mexican Grill in the 2nd quarter worth $26,000. Meeder Asset Management Inc. acquired a new stake in shares of Chipotle Mexican Grill during the second quarter worth about $27,000. Finally, Merkkuri Wealth Advisors LLC acquired a new stake in shares of Chipotle Mexican Grill in the first quarter valued at approximately $28,000. 91.30% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have commented on CMG. UBS Group restated a "buy" rating on shares of Chipotle Mexican Grill in a research note on Friday, July 31st. BTIG Research reaffirmed a "buy" rating and set a $45.00 price target on shares of Chipotle Mexican Grill in a research report on Wednesday, August 5th. Sanford C. Bernstein reiterated an "outperform" rating on shares of Chipotle Mexican Grill in a research note on Friday, July 31st. TD Cowen reaffirmed a "buy" rating and issued a $44.00 price target on shares of Chipotle Mexican Grill in a research note on Thursday, July 30th. Finally, JPMorgan Chase & Co. raised shares of Chipotle Mexican Grill from a "neutral" rating to an "overweight" rating and reduced their target price for the stock from $38.00 to $35.00 in a research report on Friday, June 5th. Twenty-three equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat, Chipotle Mexican Grill presently has a consensus rating of "Moderate Buy" and an average price target of $43.84.

Insiders Place Their Bets

In other news, insider Matthew R. Bush sold 2,675 shares of the company's stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $35.75, for a total transaction of $95,631.25. Following the completion of the transaction, the insider directly owned 21,415 shares of the company's stock, valued at approximately $765,586.25. This represents a 11.10% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.45% of the stock is currently owned by company insiders.

Chipotle Mexican Grill Trading Up 0.1%

NYSE:CMG opened at $38.08 on Monday. Chipotle Mexican Grill, Inc. has a twelve month low of $28.03 and a twelve month high of $42.81. The company has a market cap of $48.19 billion, a PE ratio of 34.94, a P/E/G ratio of 2.42 and a beta of 0.94. The company's 50 day moving average is $34.33 and its two-hundred day moving average is $33.90.

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, topping analysts' consensus estimates of $0.32 by $0.01. The company had revenue of $3.35 billion during the quarter, compared to analysts' expectations of $3.33 billion. Chipotle Mexican Grill had a net margin of 11.43% and a return on equity of 54.65%. The firm's revenue for the quarter was up 9.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.33 earnings per share. As a group, analysts expect that Chipotle Mexican Grill, Inc. will post 1.14 EPS for the current fiscal year.

Chipotle Mexican Grill Company 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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