Empowered Funds LLC Purchases Shares of 67,383 Chipotle Mexican Grill, Inc. $CMG

Key Points

• Empowered Funds LLC acquired 67,383 Chipotle shares during the second quarter, valued at approximately $2.29 million. Institutional investors collectively own 91.3% of the company.
• Chipotle reported quarterly revenue of $3.35 billion and earnings of $0.33 per share, slightly exceeding analyst expectations; revenue increased 9.3% year over year.
• Analysts maintain a “Moderate Buy” consensus rating, with an average price target of $43.84 versus the stock’s reported price of $38.49.

Empowered Funds LLC acquired a new position in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 67,383 shares of the restaurant operator's stock, valued at approximately $2,291,000.

A number of other institutional investors also recently modified their holdings of the company. BlackRock Inc. acquired a new stake in shares of Chipotle Mexican Grill in the second quarter valued at approximately $4,417,475,000. Norges Bank bought a new position in Chipotle Mexican Grill in the 4th quarter valued at $711,837,000. Capital World Investors boosted its position in Chipotle Mexican Grill by 15.8% in the 4th quarter. Capital World Investors now owns 101,688,010 shares of the restaurant operator's stock valued at $3,762,457,000 after buying an additional 13,843,222 shares during the last quarter. Bank of America Corp DE acquired a new stake in shares of Chipotle Mexican Grill in the 2nd quarter valued at $383,483,000. Finally, Clearbridge Investments LLC increased its stake in shares of Chipotle Mexican Grill by 206.4% in the 4th quarter. Clearbridge Investments LLC now owns 14,062,158 shares of the restaurant operator's stock valued at $520,300,000 after buying an additional 9,473,120 shares during the period. Institutional investors own 91.30% of the company's stock.

Chipotle Mexican Grill Trading Up 2.6%

NYSE:CMG opened at $38.49 on Thursday. Chipotle Mexican Grill, Inc. has a 1-year low of $28.03 and a 1-year high of $42.81. The firm has a market capitalization of $48.70 billion, a price-to-earnings ratio of 35.31, a PEG ratio of 2.33 and a beta of 0.94. The business's 50-day moving average price is $34.74 and its two-hundred day moving average price is $33.92.

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The restaurant operator reported $0.33 EPS for the quarter, beating 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 return on equity of 54.65% and a net margin of 11.43%.Chipotle Mexican Grill's revenue was up 9.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.33 EPS. Sell-side analysts predict that Chipotle Mexican Grill, Inc. will post 1.14 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Robert W. Baird reaffirmed a "neutral" rating and set a $40.00 price target (down from $44.00) on shares of Chipotle Mexican Grill in a research note on Monday, August 24th. Bank of America reiterated a "buy" rating and issued a $53.00 price objective (up from $50.00) on shares of Chipotle Mexican Grill in a research report on Tuesday. Raymond James Financial restated an "outperform" rating and set a $42.50 target price on shares of Chipotle Mexican Grill in a research report on Thursday, July 30th. Weiss Ratings upgraded shares of Chipotle Mexican Grill from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Friday, August 7th. Finally, Guggenheim reissued a "neutral" rating and set a $36.00 price target (up from $35.00) on shares of Chipotle Mexican Grill in a research note on Friday, July 31st. Twenty-three investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average 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 Chipotle Mexican Grill stock in a transaction on Friday, August 21st. The shares were sold at an average price of $35.75, for a total transaction of $95,631.25. Following the transaction, the insider directly 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 SEC, which is available through this hyperlink. Company insiders own 0.45% of the company's stock.

Chipotle Mexican Grill 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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