Mirae Asset Global Investments Co. Ltd. Makes New Investment in Chipotle Mexican Grill, Inc. $CMG

Key Points

• Mirae Asset Global Investments opened a new Chipotle position, acquiring 339,725 shares worth approximately $10.85 million in the third quarter. Institutional investors collectively own 91.3% of the company’s stock.
• Analysts maintain a “Moderate Buy” consensus from 27 Buy and 9 Hold ratings, with an average price target of $42.36; several firms recently adjusted their individual targets.
• Chipotle reported quarterly revenue of $3.29 billion, up 9.6% year over year, but EPS of $0.27 fell short of the $0.29 consensus estimate. Shares opened at $35.17 after a reported 5.8% rise.

Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 339,725 shares of the restaurant operator's stock, valued at approximately $10,854,000.

Other large investors also recently modified their holdings of the company. EP Wealth Advisors LLC bought a new stake in Chipotle Mexican Grill during the second quarter worth about $948,000. Callan Family Office LLC bought a new stake in shares of Chipotle Mexican Grill during the 2nd quarter valued at $1,406,000. MassMutual Private Wealth & Trust FSB raised its stake in Chipotle Mexican Grill by 7,051.6% during the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 243,726 shares of the restaurant operator's stock worth $7,787,000 after acquiring an additional 240,318 shares during the period. Park National Corp OH raised its holdings in Chipotle Mexican Grill by 442.1% during the third quarter. Park National Corp OH now owns 309,327 shares of the restaurant operator's stock valued at $9,883,000 after acquiring an additional 252,265 shares during the period. Finally, Mn Services Vermogensbeheer B.V. grew its holdings in Chipotle Mexican Grill by 181.1% during the 3rd quarter. Mn Services Vermogensbeheer B.V. now owns 1,066,722 shares of the restaurant operator's stock valued at $34,082,000 after buying an additional 687,209 shares in the last quarter. 91.30% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently weighed in on CMG. Citigroup reduced their target price on shares of Chipotle Mexican Grill from $43.00 to $41.00 and set a "buy" rating on the stock in a report on Thursday, October 29th. Argus lifted their price objective on shares of Chipotle Mexican Grill from $40.00 to $45.00 and gave the stock a "buy" rating in a research note on Tuesday, August 4th. Jefferies Financial Group reissued a "hold" rating and set a $32.00 price target on shares of Chipotle Mexican Grill in a research note on Thursday, October 29th. Wells Fargo & Company decreased their target price on shares of Chipotle Mexican Grill from $45.00 to $40.00 and set an "overweight" rating for the company in a research report on Wednesday, October 21st. Finally, Piper Sandler cut 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-seven research 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, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $42.36.

Chipotle Mexican Grill Stock Up 5.8%

Shares of CMG opened at $35.17 on Thursday. The stock has a 50 day moving average price of $32.84 and a 200 day moving average price of $34.03. The company has a market capitalization of $44.49 billion, a price-to-earnings ratio of 32.87, a price-to-earnings-growth ratio of 2.19 and a beta of 1.00. Chipotle Mexican Grill, Inc. has a 52-week low of $27.31 and a 52-week high of $41.42.

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) last announced its earnings results on Wednesday, October 28th. The restaurant operator reported $0.27 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.29 by ($0.02). The firm had revenue of $3.29 billion during the quarter, compared to analyst estimates of $3.29 billion. Chipotle Mexican Grill had a net margin of 10.83% and a return on equity of 57.05%. The firm's revenue for the quarter was up 9.6% compared to the same quarter last year. During the same period last year, the company earned $0.29 earnings per share. On average, equities analysts anticipate that Chipotle Mexican Grill, Inc. will post 1.10 EPS for the current fiscal year.

Insider Buying and Selling at Chipotle Mexican Grill

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

About Chipotle Mexican Grill

Chipotle Mexican Grill, Inc NYSE: CMG operates a chain of fast-casual restaurants focused on Mexican-inspired food. Its menu includes burritos, burrito bowls, tacos, quesadillas and salads, with options such as chicken, steak, barbacoa, carnitas, sofritas and vegetables. The company emphasizes preparing food in its restaurants from ingredients it describes as responsibly sourced, including meats raised with attention to animal welfare and produce from selected suppliers.

Founded by Steve Ells in 1993, Chipotle opened its first restaurant in Denver, Colorado.

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