Ieq Capital LLC Takes $5.66 Million Position in Chipotle Mexican Grill, Inc. $CMG

Key Points

• Ieq Capital acquired 166,382 Chipotle shares during the second quarter, creating a position valued at approximately $5.66 million. Institutional investors collectively own 91.3% of the company.
• Chipotle exceeded quarterly expectations, reporting $0.33 in adjusted EPS versus estimates of $0.32 and revenue of $3.35 billion. Revenue increased 9.3% year over year.
• Analyst sentiment remains positive, with a consensus rating of “Moderate Buy” and an average price target of $44.16, compared with the stock’s reported $36.84 opening price.

Ieq Capital LLC acquired a new position in Chipotle Mexican Grill, Inc. (NYSE:CMG - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 166,382 shares of the restaurant operator's stock, valued at approximately $5,657,000.

Other institutional investors have also recently bought and sold shares of the company. Revolve Wealth Partners LLC increased its holdings in Chipotle Mexican Grill by 4.7% during the fourth quarter. Revolve Wealth Partners LLC now owns 4,804 shares of the restaurant operator's stock worth $290,000 after buying an additional 214 shares during the last quarter. Bison Wealth LLC bought a new stake in Chipotle Mexican Grill in the fourth quarter worth about $224,000. Empowered Funds LLC boosted its stake in Chipotle Mexican Grill by 5.5% in the first quarter. Empowered Funds LLC now owns 26,460 shares of the restaurant operator's stock valued at $1,329,000 after acquiring an additional 1,368 shares during the last quarter. Osterweis Capital Management Inc. boosted its stake in Chipotle Mexican Grill by 7,176.0% in the second quarter. Osterweis Capital Management Inc. now owns 1,819 shares of the restaurant operator's stock valued at $102,000 after acquiring an additional 1,794 shares during the last quarter. Finally, Diversify Wealth Management LLC grew its position in shares of Chipotle Mexican Grill by 7.3% during the 2nd quarter. Diversify Wealth Management LLC now owns 57,451 shares of the restaurant operator's stock valued at $3,226,000 after acquiring an additional 3,915 shares during the period. Institutional investors own 91.30% of the company's stock.

Chipotle Mexican Grill Stock Performance

NYSE:CMG opened at $36.84 on Monday. Chipotle Mexican Grill, Inc. has a fifty-two week low of $28.03 and a fifty-two week high of $43.72. The firm has a market cap of $46.62 billion, a PE ratio of 33.80, a price-to-earnings-growth ratio of 2.35 and a beta of 0.94. The business has a 50 day moving average price of $33.80 and a 200-day moving average price of $33.96.

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) last released 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 business had revenue of $3.35 billion during the quarter, compared to analyst estimates 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 quarterly revenue was up 9.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.33 EPS. Research analysts predict that Chipotle Mexican Grill, Inc. will post 1.14 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CMG. Guggenheim restated 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. UBS Group reiterated a "buy" rating on shares of Chipotle Mexican Grill in a research note on Friday, July 31st. BTIG Research reissued a "buy" rating and issued a $45.00 target price on shares of Chipotle Mexican Grill in a research report on Wednesday, August 5th. Mizuho boosted their target price on Chipotle Mexican Grill from $40.00 to $41.00 and gave the company an "outperform" rating in a research note on Monday, July 13th. Finally, Piper Sandler dropped their price target on Chipotle Mexican Grill from $42.00 to $39.00 and set an "overweight" rating on the stock in a research report on Thursday, July 30th. Twenty-four investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $44.16.

About Chipotle Mexican Grill

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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