Norinchukin Bank The Buys 9,260 Shares of Chipotle Mexican Grill, Inc. $CMG

Key Points

• Norinchukin Bank increased its stake in Chipotle Mexican Grill by 15.0%, acquiring an additional 9,260 shares and holding a total of 71,116 shares worth approximately $3.57 million.
• The majority of Chipotle's stock, about 91.30%, is currently held by institutional investors, while insiders own only 0.81% after a recent sale of 113,875 shares by an insider.
• Chipotle's latest earnings report showed an EPS of $0.33, slightly beating expectations, while revenue for the quarter was $3.06 billion, up 3.0% year-over-year.

Norinchukin Bank The lifted its stake in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG - Free Report) by 15.0% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 71,116 shares of the restaurant operator's stock after acquiring an additional 9,260 shares during the period. Norinchukin Bank The's holdings in Chipotle Mexican Grill were worth $3,571,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Cloud Capital Management LLC bought a new stake in Chipotle Mexican Grill during the 1st quarter valued at $25,000. HighMark Wealth Management LLC grew its stake in shares of Chipotle Mexican Grill by 173.4% in the 1st quarter. HighMark Wealth Management LLC now owns 585 shares of the restaurant operator's stock worth $29,000 after acquiring an additional 371 shares in the last quarter. North Capital Inc. purchased a new stake in shares of Chipotle Mexican Grill during the first quarter valued at approximately $30,000. ORG Wealth Partners LLC bought a new position in Chipotle Mexican Grill during the first quarter valued at about $31,000. Finally, Mechanics Financial Corp bought a new position in Chipotle Mexican Grill during the first quarter valued at about $38,000. Institutional investors own 91.30% of the company's stock.

Insiders Place Their Bets

In related news, insider Roger E. Theodoredis sold 113,875 shares of the company's stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $49.70, for a total value of $5,659,587.50. Following the sale, the insider directly owned 109,815 shares of the company's stock, valued at $5,457,805.50. This represents a 50.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.81% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

CMG has been the subject of several research reports. 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. TD Securities reissued a "buy" rating and set a $57.00 price objective on shares of Chipotle Mexican Grill in a report on Wednesday, June 18th. Wells Fargo & Company cut their price target on shares of Chipotle Mexican Grill from $65.00 to $60.00 and set an "overweight" rating for the company in a report on Thursday, July 24th. Royal Bank Of Canada cut their price target on shares of Chipotle Mexican Grill from $65.00 to $60.00 and set an "outperform" rating for the company in a report on Thursday, April 24th. Finally, Truist Financial cut their price objective on Chipotle Mexican Grill from $64.00 to $60.00 and set a "buy" rating for the company in a report on Friday, July 25th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and eight have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $60.22.

Chipotle Mexican Grill Trading Down 0.3%

CMG opened at $42.9230 on Friday. The company has a market cap of $57.56 billion, a P/E ratio of 38.32, a P/E/G ratio of 2.19 and a beta of 1.05. The business's 50-day moving average price is $49.73 and its 200-day moving average price is $50.73. Chipotle Mexican Grill, Inc. has a 12 month low of $41.18 and a 12 month high of $66.74.

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) last posted its quarterly 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 net margin of 13.32% and a return on equity of 43.50%. The company had revenue of $3.06 billion during the quarter, compared to analyst estimates of $3.11 billion. During the same period in the prior year, the business posted $0.34 EPS. The firm's revenue was up 3.0% compared to the same quarter last year. Equities research analysts forecast that Chipotle Mexican Grill, Inc. will post 1.29 earnings per share 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.

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.