Ninety One UK Ltd Buys New Shares in Chipotle Mexican Grill, Inc. $CMG

Key Points

• Ninety One UK Ltd acquired 3.84 million Chipotle shares in the third quarter, valued at approximately $135.3 million and representing about 0.30% of the company. Institutional investors collectively own 91.30% of Chipotle.
• Analysts maintain a generally positive outlook, with 22 Buy ratings and 10 Hold ratings, producing a “Moderate Buy” consensus and an average price target of $43.87.
• Chipotle shares recently traded at $30.60, near the lower end of their 12-month range. The company’s latest quarter exceeded earnings and revenue estimates, with revenue rising 9.3% year over year.

Ninety One UK Ltd purchased a new stake in Chipotle Mexican Grill, Inc. (NYSE:CMG - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,841,914 shares of the restaurant operator's stock, valued at approximately $135,296,000. Ninety One UK Ltd owned about 0.30% of Chipotle Mexican Grill as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently bought and sold shares of the company. EP Wealth Advisors LLC acquired a new position in shares of Chipotle Mexican Grill in the 2nd quarter worth approximately $948,000. Callan Family Office LLC bought a new stake in shares of Chipotle Mexican Grill in the 2nd quarter valued at approximately $1,406,000. MassMutual Private Wealth & Trust FSB increased its holdings in shares of Chipotle Mexican Grill by 7,051.6% in the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 243,726 shares of the restaurant operator's stock valued at $7,787,000 after acquiring an additional 240,318 shares during the last quarter. Park National Corp OH increased its holdings in shares of Chipotle Mexican Grill by 442.1% in the 3rd 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 last quarter. Finally, PensionDanmark Pensionsforsikringsaktieselskab raised its position in shares of Chipotle Mexican Grill by 40.2% during the 2nd quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 268,771 shares of the restaurant operator's stock valued at $9,138,000 after acquiring an additional 77,002 shares in the last quarter. Institutional investors and hedge funds own 91.30% of the company's stock.

Insiders Place Their Bets

In other Chipotle Mexican Grill news, insider Matthew R. Bush sold 2,675 shares of the company's stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $35.75, for a total value of $95,631.25. Following the transaction, the insider directly owned 21,415 shares of the company's stock, valued at $765,586.25. This represents a 11.10% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.45% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have recently commented on CMG. Raymond James Financial reaffirmed an "outperform" rating and issued a $42.50 price target on shares of Chipotle Mexican Grill in a report on Thursday, July 30th. Piper Sandler lowered their price objective on shares of Chipotle Mexican Grill from $42.00 to $39.00 and set an "overweight" rating for the company in a research report on Thursday, July 30th. Morgan Stanley increased their price objective on shares of Chipotle Mexican Grill from $39.00 to $40.00 and gave the stock an "equal weight" rating in a research note on Thursday. Guggenheim reiterated a "neutral" rating and issued a $36.00 price target (up from $35.00) on shares of Chipotle Mexican Grill in a research report on Friday, July 31st. Finally, Sanford C. Bernstein reiterated an "outperform" rating on shares of Chipotle Mexican Grill in a research report on Friday, July 31st. Twenty-two investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $43.87.

Chipotle Mexican Grill Stock Performance

Shares of CMG stock traded up $0.08 on Thursday, reaching $30.60. 5,996,297 shares of the company's stock traded hands, compared to its average volume of 17,682,809. Chipotle Mexican Grill, Inc. has a 12-month low of $28.03 and a 12-month high of $42.74. The business's 50 day moving average price is $34.09 and its two-hundred day moving average price is $33.49. The company has a market capitalization of $38.72 billion, a P/E ratio of 28.07, a price-to-earnings-growth ratio of 1.86 and a beta of 0.96.

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) last issued its earnings results on Wednesday, July 29th. The restaurant operator reported $0.33 earnings per share for the quarter, beating analysts' consensus estimates of $0.32 by $0.01. The company had revenue of $3.35 billion for the quarter, compared to the consensus estimate of $3.33 billion. Chipotle Mexican Grill had a return on equity of 54.65% and a net margin of 11.43%. The firm's quarterly revenue was up 9.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.33 EPS. Research analysts predict that Chipotle Mexican Grill, Inc. will post 1.14 earnings per share for the current year.

About Chipotle Mexican Grill

Chipotle Mexican Grill, Inc is a fast-casual restaurant company that specializes in Mexican-inspired food made with a limited number of core ingredients. Its menu includes burritos, burrito bowls, tacos, quesadillas, salads and sides, with options such as chicken, steak, barbacoa, carnitas, sofritas and vegetables. The company also offers beverages, including soft drinks and other drinks, and allows customers to customize meals.

Founded by Steve Ells in 1993, Chipotle operates company-owned restaurants under the Chipotle Mexican Grill brand.

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