Mirae Asset Global Investments Co. Ltd. Purchases 97,639 Shares of Chipotle Mexican Grill, Inc. $CMG

Key Points

• Mirae Asset Global Investments increased its stake in Chipotle Mexican Grill by 23.2%, acquiring an additional 97,639 shares to reach a total of 518,651 shares valued at approximately $29.1 million.
• Chipotle's recent earnings report showed a net margin of 13.32% and revenue of $3.06 billion, slightly below analysts' expectations, with earnings per share of $0.33.
• Analyst ratings for Chipotle show a consensus of "Moderate Buy" with an average price target of $59.41, although several target prices have been adjusted downwards recently.

Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG - Free Report) by 23.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 518,651 shares of the restaurant operator's stock after purchasing an additional 97,639 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in Chipotle Mexican Grill were worth $29,122,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently modified their holdings of the business. Cloud Capital Management LLC bought a new position in Chipotle Mexican Grill in the 1st quarter worth approximately $25,000. Saudi Central Bank bought a new position in shares of Chipotle Mexican Grill in the first quarter worth $27,000. 1248 Management LLC bought a new position in shares of Chipotle Mexican Grill in the first quarter worth $27,000. Signature Resources Capital Management LLC purchased a new position in shares of Chipotle Mexican Grill in the second quarter valued at $28,000. Finally, HighMark Wealth Management LLC raised its stake in shares of Chipotle Mexican Grill by 173.4% during the 1st quarter. HighMark Wealth Management LLC now owns 585 shares of the restaurant operator's stock valued at $29,000 after purchasing an additional 371 shares during the period. Hedge funds and other institutional investors own 91.30% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on CMG shares. KeyCorp cut their target price on Chipotle Mexican Grill from $60.00 to $58.00 and set an "overweight" rating for the company in a research note on Thursday, July 24th. Wells Fargo & Company lowered their target price on shares of Chipotle Mexican Grill from $65.00 to $60.00 and set an "overweight" rating on the stock in a research note on Thursday, July 24th. Robert W. Baird cut their price target on shares of Chipotle Mexican Grill from $62.00 to $59.00 and set an "outperform" rating for the company in a report on Thursday, July 24th. Raymond James Financial reduced their price target on shares of Chipotle Mexican Grill from $60.00 to $56.00 and set an "outperform" rating for the company in a research report on Friday, August 15th. Finally, Stephens reiterated an "equal weight" rating and issued a $60.00 price objective on shares of Chipotle Mexican Grill in a research report on Monday, September 29th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat, Chipotle Mexican Grill presently has a consensus rating of "Moderate Buy" and an average price target of $59.41.

Chipotle Mexican Grill Stock Performance

NYSE CMG opened at $41.78 on Friday. Chipotle Mexican Grill, Inc. has a 52-week low of $38.30 and a 52-week high of $66.74. The company has a fifty day moving average of $41.47 and a 200-day moving average of $47.94. The company has a market capitalization of $56.02 billion, a P/E ratio of 37.30, a P/E/G ratio of 2.05 and a beta of 0.99.

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, beating analysts' consensus estimates of $0.32 by $0.01. Chipotle Mexican Grill had a return on equity of 43.50% and a net margin of 13.32%.The business had revenue of $3.06 billion for the quarter, compared to analysts' expectations of $3.11 billion. During the same quarter in the prior year, the firm earned $0.34 earnings per share. The firm's revenue was up 3.0% on a year-over-year basis. As a group, analysts forecast that Chipotle Mexican Grill, Inc. will post 1.29 EPS for the current fiscal year.

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.

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