National Bank of Canada FI Has $60.15 Million Stock Position in Chipotle Mexican Grill, Inc. (NYSE:CMG)

Key Points

• National Bank of Canada FI increased its stake in Chipotle Mexican Grill by 53.5% during the first quarter, owning over $60 million in shares after adding 417,382 shares.
• Chipotle Mexican Grill recently reported a 0.33 EPS for the quarter, slightly exceeding estimates, and had revenues of $3.06 billion, marking a 3.0% year-over-year increase.
• Analysts have varied expectations for Chipotle, with a consensus price target of $60.71 and 19 buy ratings compared to 9 hold ratings.

National Bank of Canada FI lifted its stake in Chipotle Mexican Grill, Inc. (NYSE:CMG - Free Report) by 53.5% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,197,884 shares of the restaurant operator's stock after purchasing an additional 417,382 shares during the quarter. National Bank of Canada FI owned 0.09% of Chipotle Mexican Grill worth $60,145,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Cloud Capital Management LLC purchased a new stake in Chipotle Mexican Grill in the 1st quarter worth about $25,000. 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 worth $29,000 after purchasing an additional 371 shares in the last quarter. North Capital Inc. purchased a new stake in shares of Chipotle Mexican Grill during the 1st quarter worth about $30,000. ORG Wealth Partners LLC purchased a new stake in shares of Chipotle Mexican Grill during the 1st quarter worth about $31,000. Finally, Mechanics Financial Corp purchased a new stake in shares of Chipotle Mexican Grill during the 1st quarter worth about $38,000. Institutional investors and hedge funds own 91.31% of the company's stock.

Chipotle Mexican Grill Trading Down 2.9%

Shares of NYSE:CMG opened at $41.47 on Friday. Chipotle Mexican Grill, Inc. has a 1-year low of $41.43 and a 1-year high of $66.74. The firm has a market capitalization of $55.61 billion, a PE ratio of 37.03, a PEG ratio of 2.17 and a beta of 1.05. The business's 50 day moving average is $51.21 and its 200-day moving average is $51.64.

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

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. BMO Capital Markets raised Chipotle Mexican Grill from a "market perform" rating to an "outperform" rating and raised their price target for the stock from $56.00 to $65.00 in a research note on Friday, July 18th. Citigroup cut their price target on Chipotle Mexican Grill from $68.00 to $62.00 and set a "buy" rating for the company in a research note on Thursday, July 24th. KeyCorp cut their price objective on Chipotle Mexican Grill from $60.00 to $58.00 and set an "overweight" rating on the stock in a research note on Thursday, July 24th. Wells Fargo & Company cut their price objective on 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. Finally, Loop Capital cut their price objective on 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. Nine investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $60.71.

Insider Activity at Chipotle Mexican Grill

In related news, insider Roger E. Theodoredis sold 113,875 shares of the firm's stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $49.70, for a total transaction of $5,659,587.50. Following the completion of the transaction, the insider owned 109,815 shares in the company, valued at $5,457,805.50. This trade represents a 50.91% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.81% of the stock is owned by company insiders.

About Chipotle Mexican Grill

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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