Jupiter Topco LLC Takes $5.31 Million Position in Chipotle Mexican Grill, Inc. $CMG

Key Points

• Jupiter Topco LLC acquired 156,224 Chipotle shares during the second quarter, establishing a position valued at approximately $5.31 million.
• Institutional ownership remains high at 91.30%, with several other funds also initiating positions, including the Canada Pension Plan Investment Board’s roughly $123 million stake.
• Analyst sentiment is positive, with Chipotle carrying a “Moderate Buy” consensus rating and an average price target of $43.84; the company also slightly beat quarterly earnings and revenue expectations.

Jupiter Topco LLC purchased a new stake in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 156,224 shares of the restaurant operator's stock, valued at approximately $5,312,000.

Other hedge funds also recently added to or reduced their stakes in the company. EFG International AG bought a new position in shares of Chipotle Mexican Grill during the 2nd quarter valued at $171,000. Ancora Advisors LLC bought a new stake in shares of Chipotle Mexican Grill in the second quarter worth $500,000. Palisade Capital Management LP purchased a new stake in Chipotle Mexican Grill during the second quarter valued at $517,000. Canada Pension Plan Investment Board bought a new position in Chipotle Mexican Grill in the second quarter valued at about $122,993,000. Finally, Royal Capital Wealth Management LLC purchased a new position in Chipotle Mexican Grill in the second quarter worth about $340,000. 91.30% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CMG has been the subject of several research reports. Evercore reaffirmed an "outperform" rating and set a $47.00 price target on shares of Chipotle Mexican Grill in a research report on Thursday, July 30th. Piper Sandler cut their target price on shares of Chipotle Mexican Grill from $42.00 to $39.00 and set an "overweight" rating for the company in a research report on Thursday, July 30th. UBS Group reaffirmed a "buy" rating on shares of Chipotle Mexican Grill in a report on Friday, July 31st. Morgan Stanley increased their price target on shares of Chipotle Mexican Grill from $37.00 to $39.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 30th. Finally, Guggenheim reiterated 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 assigned a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $43.84.

Insider Activity

In related news, insider Matthew R. Bush sold 2,675 shares of Chipotle Mexican Grill stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $35.75, for a total transaction of $95,631.25. Following the completion of the transaction, the insider directly owned 21,415 shares of the company's stock, valued at approximately $765,586.25. The trade was a 11.10% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.45% of the company's stock.

Chipotle Mexican Grill Stock Performance

Shares of Chipotle Mexican Grill stock opened at $38.03 on Tuesday. The stock has a market cap of $48.12 billion, a price-to-earnings ratio of 34.89, a price-to-earnings-growth ratio of 2.42 and a beta of 0.94. The stock has a 50 day moving average price of $34.47 and a 200-day moving average price of $33.90. Chipotle Mexican Grill, Inc. has a one year low of $28.03 and a one year high of $42.81.

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The restaurant operator reported $0.33 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.32 by $0.01. The company had revenue of $3.35 billion during the quarter, compared to the consensus estimate 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 last year, the company earned $0.33 earnings per share. Sell-side analysts predict that Chipotle Mexican Grill, Inc. will post 1.14 earnings per share for the current fiscal year.

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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