LPL Financial LLC Increases Holdings in Chipotle Mexican Grill, Inc. (NYSE:CMG)

Key Points

• LPL Financial LLC increased its stake in Chipotle Mexican Grill by 4.3%, owning 1,276,359 shares valued at approximately $64 million as of its latest SEC filing.
• Research analysts have updated their price targets for Chipotle, with nine firms recommending a hold rating and nineteen a buy rating, resulting in a consensus price target of $60.71.
• Chipotle's latest earnings report exceeded analyst expectations with earnings per share of $0.33, although revenue fell short at $3.06 billion compared to expectations of $3.11 billion.

LPL Financial LLC raised its position in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG - Free Report) by 4.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,276,359 shares of the restaurant operator's stock after buying an additional 52,937 shares during the quarter. LPL Financial LLC owned about 0.09% of Chipotle Mexican Grill worth $64,086,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in CMG. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its holdings in shares of Chipotle Mexican Grill by 4,138,574.1% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 8,318,735 shares of the restaurant operator's stock valued at $501,620,000 after acquiring an additional 8,318,534 shares in the last quarter. Voya Investment Management LLC increased its holdings in shares of Chipotle Mexican Grill by 114.2% during the fourth quarter. Voya Investment Management LLC now owns 8,986,971 shares of the restaurant operator's stock valued at $541,914,000 after acquiring an additional 4,790,464 shares in the last quarter. Montrusco Bolton Investments Inc. increased its holdings in shares of Chipotle Mexican Grill by 5,319.7% during the first quarter. Montrusco Bolton Investments Inc. now owns 4,848,990 shares of the restaurant operator's stock valued at $235,580,000 after acquiring an additional 4,759,520 shares in the last quarter. Manning & Napier Advisors LLC bought a new position in shares of Chipotle Mexican Grill during the first quarter valued at $127,892,000. Finally, Sarasin & Partners LLP increased its holdings in shares of Chipotle Mexican Grill by 1,016.6% during the first quarter. Sarasin & Partners LLP now owns 2,482,333 shares of the restaurant operator's stock valued at $124,638,000 after acquiring an additional 2,260,016 shares in the last quarter. Hedge funds and other institutional investors own 91.31% of the company's stock.

Insider Activity at Chipotle Mexican Grill

In related news, insider Roger E. Theodoredis sold 113,875 shares of the company's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $49.70, for a total value of $5,659,587.50. Following the completion of the transaction, 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 sale was disclosed in a filing with the SEC, which is accessible through this link. 0.81% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Evercore ISI reduced their price target on Chipotle Mexican Grill from $64.00 to $57.00 and set an "outperform" rating for the company in a report on Thursday, April 24th. JPMorgan Chase & Co. reduced their price target on Chipotle Mexican Grill from $58.00 to $54.00 and set a "neutral" rating for the company in a report on Thursday, May 29th. Stephens restated an "equal weight" rating and set a $60.00 price target on shares of Chipotle Mexican Grill in a report on Thursday, July 24th. KeyCorp reduced their price objective on Chipotle Mexican Grill from $60.00 to $58.00 and set an "overweight" rating for the company in a report on Thursday, July 24th. Finally, Barclays reduced their price objective on Chipotle Mexican Grill from $55.00 to $53.00 and set an "equal weight" rating for the company in a report on Thursday, July 24th. Nine analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $60.71.

Chipotle Mexican Grill Stock Performance

Shares of NYSE CMG traded down $0.35 during trading on Friday, hitting $42.53. The company had a trading volume of 19,080,870 shares, compared to its average volume of 19,135,022. Chipotle Mexican Grill, Inc. has a 12 month low of $42.46 and a 12 month high of $66.74. The firm has a market capitalization of $57.03 billion, a P/E ratio of 37.97, a price-to-earnings-growth ratio of 2.18 and a beta of 1.05. The stock has a 50 day simple moving average of $52.00 and a 200 day simple moving average of $52.16.

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) last released its earnings results on Wednesday, July 23rd. The restaurant operator reported $0.33 EPS for the quarter, topping analysts' consensus estimates of $0.32 by $0.01. The company had revenue of $3.06 billion for the quarter, compared to analysts' expectations 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 revenue was up 3.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.34 EPS. As a group, analysts predict that Chipotle Mexican Grill, Inc. will post 1.29 EPS for the current year.

Chipotle Mexican Grill 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.