Chipotle Mexican Grill, Inc. (NYSE:CMG) Stake Boosted by Lockheed Martin Investment Management Co.

Key Points

• Lockheed Martin Investment Management Co. increased its stake in Chipotle Mexican Grill by 31%, acquiring an additional 55,030 shares during the first quarter, bringing its total holdings to 232,660 shares worth approximately $11.68 million.
• Multiple brokerages have recently lowered their price targets for Chipotle shares, with Morgan Stanley setting a new target at $65 and TD Cowen at $58, while the consensus rating remains a "Moderate Buy" with a target of $60.71.
• Chipotle reported earnings of $0.33 per share in the latest quarter, exceeding analysts' expectations despite lower revenue of $3.06 billion compared to the forecast of $3.11 billion.

Lockheed Martin Investment Management Co. raised its holdings in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG - Free Report) by 31.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 232,660 shares of the restaurant operator's stock after purchasing an additional 55,030 shares during the quarter. Lockheed Martin Investment Management Co.'s holdings in Chipotle Mexican Grill were worth $11,682,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of the business. Charles Schwab Investment Management Inc. raised its stake in shares of Chipotle Mexican Grill by 5.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 8,979,637 shares of the restaurant operator's stock valued at $450,868,000 after acquiring an additional 491,002 shares during the period. Banco Santander S.A. raised its stake in shares of Chipotle Mexican Grill by 47.6% in the first quarter. Banco Santander S.A. now owns 31,764 shares of the restaurant operator's stock valued at $1,595,000 after acquiring an additional 10,246 shares during the period. Community Trust & Investment Co. purchased a new stake in shares of Chipotle Mexican Grill in the first quarter valued at $7,773,000. LPL Financial LLC raised its stake in shares of Chipotle Mexican Grill by 4.3% in the first quarter. LPL Financial LLC now owns 1,276,359 shares of the restaurant operator's stock valued at $64,086,000 after acquiring an additional 52,937 shares during the period. Finally, Jefferies Financial Group Inc. increased its stake in Chipotle Mexican Grill by 525.5% in the 1st quarter. Jefferies Financial Group Inc. now owns 102,236 shares of the restaurant operator's stock worth $5,133,000 after buying an additional 85,892 shares during the period. Institutional investors own 91.31% of the company's stock.

Wall Street Analysts Forecast Growth

CMG has been the topic of several recent analyst reports. Truist Financial reduced their price target on shares of Chipotle Mexican Grill from $64.00 to $60.00 and set a "buy" rating on the stock in a research note on Friday, July 25th. Robert W. Baird reduced their price target on shares of Chipotle Mexican Grill from $62.00 to $59.00 and set an "outperform" rating on the stock in a research note on Thursday, July 24th. Melius initiated coverage on shares of Chipotle Mexican Grill in a research note on Monday, July 14th. They issued a "hold" rating and a $60.00 price target on the stock. Morgan Stanley reduced their price target on shares of Chipotle Mexican Grill from $67.00 to $65.00 and set an "overweight" rating on the stock in a research note on Thursday, April 24th. Finally, Loop Capital reduced their price target on shares of Chipotle Mexican Grill from $65.00 to $63.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. Eight investment analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $60.61.

Chipotle Mexican Grill Stock Up 2.8%

Shares of Chipotle Mexican Grill stock traded up $1.16 on Tuesday, hitting $42.78. The company's stock had a trading volume of 17,394,324 shares, compared to its average volume of 14,061,471. The company has a market capitalization of $57.36 billion, a P/E ratio of 38.19, a price-to-earnings-growth ratio of 2.11 and a beta of 1.05. The firm has a fifty day moving average price of $51.05 and a 200-day moving average price of $51.47. Chipotle Mexican Grill, Inc. has a 52-week low of $41.18 and a 52-week high of $66.74.

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) last released its earnings results on Wednesday, July 23rd. The restaurant operator reported $0.33 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.32 by $0.01. The company had revenue of $3.06 billion for the quarter, compared to analyst estimates of $3.11 billion. Chipotle Mexican Grill had a net margin of 13.32% and a return on equity of 43.50%. The firm's quarterly revenue was up 3.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.34 EPS. As a group, analysts expect that Chipotle Mexican Grill, Inc. will post 1.29 earnings per share for the current year.

Insider Transactions at Chipotle Mexican Grill

In related news, insider Roger E. Theodoredis sold 113,875 shares of the stock in a transaction that occurred on 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 completion of the sale, the insider owned 109,815 shares of the company's stock, valued at approximately $5,457,805.50. This represents a 50.91% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.02% of the company's stock.

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.