Parnassus Investments LLC Has $10.25 Million Stock Holdings in Chipotle Mexican Grill, Inc. $CMG

Key Points

• Parnassus Investments LLC expanded its stake in Chipotle Mexican Grill by 970.6% in the 1st quarter, acquiring 185,156 shares for a total of 204,232 shares owned, which are valued at approximately $10.25 million.
• Despite an increase in holdings by several institutional investors, Chipotle's stock has seen target price reductions from multiple analysts, with average targets now around $60.22.
• The recent quarterly earnings report revealed that Chipotle's earnings per share were $0.33, surpassing estimates, but revenue fell short of expectations with $3.06 billion reported.

Parnassus Investments LLC boosted its position in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG - Free Report) by 970.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 204,232 shares of the restaurant operator's stock after acquiring an additional 185,156 shares during the period. Parnassus Investments LLC's holdings in Chipotle Mexican Grill were worth $10,254,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in Chipotle Mexican Grill by 1.3% during the first quarter. Vanguard Group Inc. now owns 122,463,327 shares of the restaurant operator's stock valued at $6,148,884,000 after purchasing an additional 1,597,287 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Chipotle Mexican Grill by 7.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 56,827,332 shares of the restaurant operator's stock valued at $2,853,302,000 after purchasing an additional 4,027,016 shares in the last quarter. American Century Companies Inc. boosted its holdings in Chipotle Mexican Grill by 2.1% during the first quarter. American Century Companies Inc. now owns 20,662,628 shares of the restaurant operator's stock valued at $1,037,471,000 after purchasing an additional 425,648 shares in the last quarter. Nuveen LLC acquired a new stake in Chipotle Mexican Grill during the first quarter valued at approximately $535,023,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Chipotle Mexican Grill by 24.3% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,277,656 shares of the restaurant operator's stock valued at $619,743,000 after purchasing an additional 2,006,338 shares in the last quarter. 91.30% of the stock is currently owned by institutional investors.

Insider Transactions at Chipotle Mexican Grill

In other Chipotle Mexican Grill 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 transaction of $5,659,587.50. Following the transaction, the insider owned 109,815 shares of the company's stock, valued at approximately $5,457,805.50. This represents a 50.91% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.02% of the company's stock.

Chipotle Mexican Grill Price Performance

Shares of CMG traded down $0.26 on Friday, hitting $42.15. The company's stock had a trading volume of 14,787,525 shares, compared to its average volume of 16,218,019. The company has a market capitalization of $56.52 billion, a PE ratio of 37.64, a PEG ratio of 2.14 and a beta of 1.02. Chipotle Mexican Grill, Inc. has a fifty-two week low of $41.18 and a fifty-two week high of $66.74. The company has a 50 day moving average price of $48.64 and a 200 day moving average price of $50.01.

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) last announced 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. 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 the consensus estimate of $3.11 billion. During the same period in the previous year, the business earned $0.34 EPS. Chipotle Mexican Grill's revenue was up 3.0% compared to the same quarter last year. On average, equities analysts forecast that Chipotle Mexican Grill, Inc. will post 1.29 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on CMG shares. BMO Capital Markets raised Chipotle Mexican Grill from a "market perform" rating to an "outperform" rating and lifted their price objective for the company from $56.00 to $65.00 in a report on Friday, July 18th. Redburn Atlantic started coverage on Chipotle Mexican Grill in a report on Tuesday, June 10th. They set a "neutral" rating and a $55.00 price objective on the stock. Raymond James Financial decreased their price objective on Chipotle Mexican Grill from $60.00 to $56.00 and set an "outperform" rating on the stock in a report on Friday, August 15th. Stephens reaffirmed an "equal weight" rating and set a $60.00 price objective on shares of Chipotle Mexican Grill in a report on Thursday, July 24th. Finally, TD Securities reissued a "buy" rating and issued a $57.00 target price on shares of Chipotle Mexican Grill in a report on Wednesday, June 18th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and eight have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Chipotle Mexican Grill has a consensus rating of "Moderate Buy" and a consensus target price of $60.22.

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.