Gables Capital Management Inc. Buys Shares of 42,600 Chipotle Mexican Grill, Inc. $CMG

Key Points

• Gables Capital Management bought 42,600 Chipotle shares in the second quarter, valued at approximately $1.45 million. Hedge funds and other institutional investors collectively own 91.3% of the company.
• Analysts maintain a broadly positive view, with a consensus “Moderate Buy” rating and an average price target of $44.16. Recent actions included a Stephens target increase to $40 and UBS reaffirming its “Buy” rating.
• Chipotle’s latest quarterly results slightly exceeded expectations, with $0.33 in adjusted earnings per share and $3.35 billion in revenue, up 9.3% year over year. Shares opened at $33.36, near their 50- and 200-day moving averages.

Gables Capital Management Inc. purchased a new stake in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG - Free Report) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 42,600 shares of the restaurant operator's stock, valued at approximately $1,448,000.

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

Analyst Upgrades and Downgrades

CMG has been the topic of several research reports. Piper Sandler decreased their target price on Chipotle Mexican Grill from $42.00 to $39.00 and set an "overweight" rating on the stock in a research note on Thursday, July 30th. Sanford C. Bernstein reaffirmed an "outperform" rating on shares of Chipotle Mexican Grill in a research report on Friday, July 31st. Weiss Ratings upgraded shares of Chipotle Mexican Grill from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Friday, August 7th. Stephens reissued a "positive" rating and set a $40.00 price target (up from $36.00) on shares of Chipotle Mexican Grill in a research report on Thursday, July 30th. Finally, UBS Group reissued a "buy" rating on shares of Chipotle Mexican Grill in a research note on Friday, July 31st. Twenty-four equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat.com, Chipotle Mexican Grill has a consensus rating of "Moderate Buy" and a consensus target price of $44.16.

Chipotle Mexican Grill Stock Down 1.2%

Shares of CMG opened at $33.36 on Wednesday. The company has a market capitalization of $42.22 billion, a price-to-earnings ratio of 30.61, a price-to-earnings-growth ratio of 2.13 and a beta of 0.94. Chipotle Mexican Grill, Inc. has a 52-week low of $28.03 and a 52-week high of $43.99. The stock has a 50 day moving average price of $33.55 and a 200 day moving average price of $34.03.

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) last released 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 for 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 quarter last year, the company earned $0.33 earnings per share. On average, equities analysts anticipate that Chipotle Mexican Grill, Inc. will post 1.14 EPS for the current fiscal year.

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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