Lewis Asset Management LLC Takes $403,000 Position in Chipotle Mexican Grill, Inc. $CMG

Key Points

• Lewis Asset Management LLC acquired a new stake in Chipotle Mexican Grill, Inc., purchasing 7,184 shares valued at approximately $403,000 during the second quarter.
• Several institutional investors, including Vanguard Group Inc. and Price T Rowe Associates Inc., have increased their holdings, indicating strong institutional interest in Chipotle.
• Chipotle's stock has seen a 1.3% decline, currently trading around $39.30, with analysts adjusting price targets, the average being $59.76 amidst varied ratings from "Strong Buy" to "Hold."

Lewis Asset Management LLC bought a new stake 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 institutional investor bought 7,184 shares of the restaurant operator's stock, valued at approximately $403,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Chipotle Mexican Grill by 1.3% in the first quarter. Vanguard Group Inc. now owns 122,463,327 shares of the restaurant operator's stock worth $6,148,884,000 after purchasing an additional 1,597,287 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Chipotle Mexican Grill by 7.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 56,827,332 shares of the restaurant operator's stock worth $2,853,302,000 after purchasing an additional 4,027,016 shares during the last quarter. Alliancebernstein L.P. grew its holdings in shares of Chipotle Mexican Grill by 8.0% in the first quarter. Alliancebernstein L.P. now owns 32,505,318 shares of the restaurant operator's stock worth $1,632,092,000 after purchasing an additional 2,404,798 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of Chipotle Mexican Grill by 2.1% in the first quarter. American Century Companies Inc. now owns 20,662,628 shares of the restaurant operator's stock worth $1,037,471,000 after purchasing an additional 425,648 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Chipotle Mexican Grill by 8.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 11,111,416 shares of the restaurant operator's stock worth $557,904,000 after purchasing an additional 833,760 shares during the last quarter. Hedge funds and other institutional investors own 91.30% of the company's stock.

Chipotle Mexican Grill Stock Down 1.3%

CMG stock opened at $39.30 on Monday. The firm has a 50 day moving average of $43.88 and a 200 day moving average of $48.59. The stock has a market capitalization of $52.70 billion, a PE ratio of 35.09, a price-to-earnings-growth ratio of 2.00 and a beta of 1.02. Chipotle Mexican Grill, Inc. has a 52 week low of $38.30 and a 52 week high of $66.74.

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The restaurant operator reported $0.33 EPS for the quarter, beating 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 period in the previous year, the business posted $0.34 EPS. The business's quarterly revenue was up 3.0% compared to the same quarter last year. On average, equities research analysts expect that Chipotle Mexican Grill, Inc. will post 1.29 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Raymond James Financial cut their price target on shares of Chipotle Mexican Grill from $60.00 to $56.00 and set an "outperform" rating on the stock in a report on Friday, August 15th. TD Cowen restated a "buy" rating and issued a $58.00 price target on shares of Chipotle Mexican Grill in a report on Friday. Citigroup dropped their target price on shares of Chipotle Mexican Grill from $68.00 to $62.00 and set a "buy" rating on the stock in a report on Thursday, July 24th. KeyCorp dropped their target price on shares of Chipotle Mexican Grill from $60.00 to $58.00 and set an "overweight" rating on the stock in a report on Thursday, July 24th. Finally, Barclays dropped their target price on shares of Chipotle Mexican Grill from $55.00 to $53.00 and set an "equal weight" rating on the stock in a report on Thursday, July 24th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $59.76.

About Chipotle Mexican Grill

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.

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