Dillon & Associates Inc. Grows Position in Chipotle Mexican Grill, Inc. (NYSE:CMG)

Key Points

• Dillon & Associates Inc. increased its stake in Chipotle Mexican Grill by 6.2%, acquiring 15,915 additional shares, which now represents 2.0% of its investment portfolio, valued at approximately $13.67 million.
• Several large institutional investors, including Goldman Sachs Group Inc. and Vanguard Group Inc., have also significantly increased their holdings in Chipotle, with 91.31% of the stock currently owned by institutional investors.
• Analysts have recently reduced their price targets for Chipotle stock, with the average consensus price target now at $60.71, while maintaining a general outlook of "Moderate Buy" for the stock.

Dillon & Associates Inc. boosted its position in Chipotle Mexican Grill, Inc. (NYSE:CMG - Free Report) by 6.2% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 273,396 shares of the restaurant operator's stock after purchasing an additional 15,915 shares during the quarter. Chipotle Mexican Grill makes up approximately 2.0% of Dillon & Associates Inc.'s investment portfolio, making the stock its 15th largest holding. Dillon & Associates Inc.'s holdings in Chipotle Mexican Grill were worth $13,670,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Chipotle Mexican Grill by 1.3% in the first quarter. Vanguard Group Inc. now owns 122,463,327 shares of the restaurant operator's stock worth $6,148,884,000 after purchasing an additional 1,597,287 shares in the last quarter. Northern Trust Corp raised its holdings in Chipotle Mexican Grill by 11.1% in the fourth quarter. Northern Trust Corp now owns 14,443,085 shares of the restaurant operator's stock worth $870,918,000 after purchasing an additional 1,438,860 shares in the last quarter. Nuveen LLC bought a new position in Chipotle Mexican Grill in the first quarter worth about $535,023,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Chipotle Mexican Grill by 24.3% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,277,656 shares of the restaurant operator's stock worth $619,743,000 after purchasing an additional 2,006,338 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in Chipotle Mexican Grill by 98.1% in the first quarter. Goldman Sachs Group Inc. now owns 9,900,521 shares of the restaurant operator's stock worth $497,105,000 after purchasing an additional 4,903,969 shares in the last quarter. 91.31% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently issued reports on CMG. Royal Bank Of Canada cut their price objective on shares of Chipotle Mexican Grill from $65.00 to $60.00 and set an "outperform" rating on the stock in a report on Thursday, April 24th. Citigroup cut their price objective on shares of Chipotle Mexican Grill from $68.00 to $62.00 and set a "buy" rating on the stock in a report on Thursday, July 24th. Morgan Stanley cut their price objective on shares of Chipotle Mexican Grill from $67.00 to $65.00 and set an "overweight" rating on the stock in a report on Thursday, April 24th. UBS Group upped their price objective on shares of Chipotle Mexican Grill from $60.00 to $65.00 and gave the company a "buy" rating in a report on Thursday, July 17th. Finally, Melius began coverage on Chipotle Mexican Grill in a research report on Monday, July 14th. They issued a "hold" rating and a $60.00 target price on the stock. Nine research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $60.71.

Chipotle Mexican Grill Stock Performance

NYSE CMG opened at $41.47 on Monday. Chipotle Mexican Grill, Inc. has a one year low of $41.43 and a one year high of $66.74. The company has a market cap of $55.61 billion, a P/E ratio of 37.03, a P/E/G ratio of 2.11 and a beta of 1.05. The business has a fifty day moving average price of $51.21 and a 200 day moving average price of $51.57.

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 (EPS) 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 business had revenue of $3.06 billion during the quarter, compared to the consensus estimate of $3.11 billion. During the same period last year, the company earned $0.34 EPS. The company's revenue for the quarter was up 3.0% on a year-over-year basis. As a group, sell-side analysts predict that Chipotle Mexican Grill, Inc. will post 1.29 EPS for the current fiscal year.

Insider Buying and Selling at Chipotle Mexican Grill

In other news, insider Roger E. Theodoredis sold 113,875 shares of the 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 completion of the transaction, the insider directly owned 109,815 shares in the company, valued at approximately $5,457,805.50. This represents a 50.91% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.81% of the company's stock.

About Chipotle Mexican Grill

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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