Morningstar Investment Management LLC Makes New Investment in Chipotle Mexican Grill, Inc. $CMG

Key Points

• Morningstar Investment Management LLC has acquired 8,335 shares of Chipotle Mexican Grill, valued at approximately $468,000, indicating growing interest in the restaurant's stock.
• Institutional investors own 91.30% of Chipotle's stock, with Vanguard Group increasing its position by 1.3% and other firms like Price T Rowe Associates and AllianceBernstein also boosting their holdings in the 1st quarter.
• Chipotle's recent earnings report showed a 3.0% increase in revenue year-over-year, with an EPS of $0.33, exceeding the consensus estimate of $0.32.

Morningstar Investment Management LLC purchased a new position in Chipotle Mexican Grill, Inc. (NYSE:CMG - Free Report) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 8,335 shares of the restaurant operator's stock, valued at approximately $468,000.

Several other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in Chipotle Mexican Grill by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 122,463,327 shares of the restaurant operator's stock worth $6,148,884,000 after buying an additional 1,597,287 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in shares of Chipotle Mexican Grill by 7.6% during the 1st 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 in the last quarter. Alliancebernstein L.P. grew its holdings in shares of Chipotle Mexican Grill by 8.0% during the 1st 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 in the last quarter. American Century Companies Inc. grew its holdings in shares of Chipotle Mexican Grill by 2.1% during the 1st 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 in 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% during the 1st 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 in the last quarter. 91.30% of the stock is owned by institutional investors.

Chipotle Mexican Grill Price Performance

Shares of CMG stock opened at $42.08 on Wednesday. The stock's fifty day simple moving average is $41.14 and its 200 day simple moving average is $47.51. The firm has a market cap of $56.42 billion, a price-to-earnings ratio of 37.57, a P/E/G ratio of 2.46 and a beta of 0.99. Chipotle Mexican Grill, Inc. has a one year low of $38.30 and a one year high of $66.74.

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

Analyst Ratings Changes

Several brokerages have recently weighed in on CMG. Robert W. Baird decreased their price objective on Chipotle Mexican Grill from $59.00 to $49.00 and set an "outperform" rating on the stock in a report on Friday, October 10th. Truist Financial decreased their price objective on Chipotle Mexican Grill from $60.00 to $53.00 and set a "buy" rating on the stock in a report on Tuesday. TD Cowen reissued a "buy" rating and set a $58.00 price objective on shares of Chipotle Mexican Grill in a report on Friday, September 19th. Stephens reissued an "equal weight" rating and set a $60.00 price objective on shares of Chipotle Mexican Grill in a report on Monday, September 29th. Finally, Rothschild Redb raised Chipotle Mexican Grill from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, September 3rd. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat.com, Chipotle Mexican Grill presently has a consensus rating of "Moderate Buy" and an average target price of $58.07.

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.

Want to see what other hedge funds are holding CMG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Chipotle Mexican Grill, Inc. (NYSE:CMG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.