Hsbc Holdings PLC Acquires 529,007 Shares of Chipotle Mexican Grill, Inc. $CMG

Key Points

• Hsbc Holdings PLC increased its stake in Chipotle Mexican Grill by 17.5%, acquiring an additional 529,007 shares to reach a total of 3,556,643 shares, valued at approximately $178 million.
• Several analyst reports indicate a mixed outlook for Chipotle, with price objectives ranging from $55.00 to $68.00 and an overall average target price of $60.22.
• Chipotle reported earnings of $0.33 per share for the quarter, slightly above estimates, but revenue came in under projections at $3.06 billion.

Hsbc Holdings PLC boosted its position in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG - Free Report) by 17.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,556,643 shares of the restaurant operator's stock after acquiring an additional 529,007 shares during the quarter. Hsbc Holdings PLC owned 0.26% of Chipotle Mexican Grill worth $178,003,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Bank OZK raised its holdings in shares of Chipotle Mexican Grill by 16.8% in the 1st quarter. Bank OZK now owns 68,785 shares of the restaurant operator's stock valued at $3,454,000 after purchasing an additional 9,876 shares during the period. Quantbot Technologies LP grew its holdings in Chipotle Mexican Grill by 18.2% during the first quarter. Quantbot Technologies LP now owns 225,946 shares of the restaurant operator's stock worth $11,345,000 after purchasing an additional 34,871 shares during the period. RWA Wealth Partners LLC increased its position in Chipotle Mexican Grill by 0.6% during the first quarter. RWA Wealth Partners LLC now owns 115,634 shares of the restaurant operator's stock worth $5,806,000 after buying an additional 685 shares during the last quarter. Korea Investment CORP increased its position in Chipotle Mexican Grill by 1.4% during the first quarter. Korea Investment CORP now owns 1,159,081 shares of the restaurant operator's stock worth $58,197,000 after buying an additional 16,466 shares during the last quarter. Finally, Qtron Investments LLC increased its position in Chipotle Mexican Grill by 22.5% during the first quarter. Qtron Investments LLC now owns 13,377 shares of the restaurant operator's stock worth $672,000 after buying an additional 2,458 shares during the last quarter. Institutional investors own 91.30% of the company's stock.

Chipotle Mexican Grill Price Performance

Chipotle Mexican Grill stock traded up $0.67 during midday trading on Friday, hitting $43.58. The company's stock had a trading volume of 10,899,653 shares, compared to its average volume of 14,193,276. Chipotle Mexican Grill, Inc. has a 1-year low of $41.18 and a 1-year high of $66.74. The company has a 50-day moving average price of $49.73 and a two-hundred day moving average price of $50.73. The company has a market cap of $58.44 billion, a price-to-earnings ratio of 38.91, a PEG ratio of 2.19 and a beta of 1.05.

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

Wall Street Analyst Weigh In

CMG has been the subject of several research analyst reports. Royal Bank Of Canada reduced their target price on Chipotle Mexican Grill from $65.00 to $60.00 and set an "outperform" rating for the company in a research note on Thursday, April 24th. Guggenheim reduced their target price on Chipotle Mexican Grill from $47.00 to $46.00 and set a "neutral" rating for the company in a research note on Friday, July 25th. Stephens reiterated an "equal weight" rating and set a $60.00 target price on shares of Chipotle Mexican Grill in a research note on Thursday, July 24th. TD Securities reaffirmed a "buy" rating and set a $57.00 target price on shares of Chipotle Mexican Grill in a report on Wednesday, June 18th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Chipotle Mexican Grill from $58.00 to $54.00 and set a "neutral" rating on the stock in a report on Thursday, May 29th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $60.22.

Insider Buying and Selling

In other Chipotle Mexican Grill news, insider Roger E. Theodoredis sold 113,875 shares of the stock in a transaction dated Monday, June 2nd. The shares were 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 $5,457,805.50. This represents a 50.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.81% of the stock is currently owned by company insiders.

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.