Chipotle Mexican Grill, Inc. $CMG Shares Bought by Price T Rowe Associates Inc. MD

Key Points

• Price T Rowe Associates Inc. has increased its stake in Chipotle Mexican Grill by 7.6%, now owning approximately 56.8 million shares, valued at nearly $2.85 billion.
• Brokerages have issued various ratings for Chipotle, with a consensus rating of "Moderate Buy" and an average price target of $60.22.
• Chipotle's latest quarterly earnings exceeded expectations with a reported $0.33 EPS, despite revenue falling short of estimates at $3.06 billion.

Price T Rowe Associates Inc. MD grew its stake in Chipotle Mexican Grill, Inc. (NYSE:CMG - Free Report) by 7.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 56,827,332 shares of the restaurant operator's stock after acquiring an additional 4,027,016 shares during the period. Price T Rowe Associates Inc. MD owned 4.22% of Chipotle Mexican Grill worth $2,853,302,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in CMG. Revolve Wealth Partners LLC grew its stake in Chipotle Mexican Grill by 4.7% in the 4th quarter. Revolve Wealth Partners LLC now owns 4,804 shares of the restaurant operator's stock worth $290,000 after acquiring an additional 214 shares in the last quarter. Bank Pictet & Cie Europe AG grew its stake in Chipotle Mexican Grill by 22.5% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 1,518,593 shares of the restaurant operator's stock worth $91,571,000 after acquiring an additional 279,267 shares in the last quarter. TD Waterhouse Canada Inc. boosted its stake in shares of Chipotle Mexican Grill by 5.1% during the fourth quarter. TD Waterhouse Canada Inc. now owns 128,351 shares of the restaurant operator's stock valued at $7,741,000 after purchasing an additional 6,279 shares in the last quarter. Alta Advisers Ltd boosted its stake in shares of Chipotle Mexican Grill by 24.4% during the fourth quarter. Alta Advisers Ltd now owns 4,541 shares of the restaurant operator's stock valued at $274,000 after purchasing an additional 891 shares in the last quarter. Finally, MGO One Seven LLC boosted its stake in shares of Chipotle Mexican Grill by 53.0% during the fourth quarter. MGO One Seven LLC now owns 12,547 shares of the restaurant operator's stock valued at $757,000 after purchasing an additional 4,347 shares in the last quarter. 91.30% of the stock is currently owned by institutional investors.

Chipotle Mexican Grill Trading Up 1.6%

Shares of NYSE CMG traded up $0.67 during midday trading on Friday, reaching $43.58. The company had a trading volume of 10,899,653 shares, compared to its average volume of 20,471,252. The business's 50-day simple moving average is $49.60 and its 200 day simple moving average is $50.62. The stock has a market cap of $58.44 billion, a P/E ratio of 38.91, a P/E/G ratio of 2.18 and a beta of 1.05. Chipotle Mexican Grill, Inc. has a 1 year low of $41.18 and a 1 year 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 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.32 by $0.01. The business had revenue of $3.06 billion during the quarter, compared to analysts' expectations of $3.11 billion. Chipotle Mexican Grill had a net margin of 13.32% and a return on equity of 43.50%. The business's quarterly revenue was up 3.0% on a year-over-year basis. During the same quarter last year, the company posted $0.34 earnings per share. Analysts predict that Chipotle Mexican Grill, Inc. will post 1.29 earnings per share for the current year.

Insider Activity

In related news, insider Roger E. Theodoredis sold 113,875 shares of the firm's stock in a transaction on Monday, June 2nd. The shares were 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 of the company's stock, valued at $5,457,805.50. This trade represents a 50.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.81% of the company's stock.

Analyst Upgrades and Downgrades

CMG has been the topic of a number of recent research reports. Robert W. Baird dropped their price objective on shares of Chipotle Mexican Grill from $62.00 to $59.00 and set an "outperform" rating on the stock in a research note on Thursday, July 24th. Piper Sandler upgraded shares of Chipotle Mexican Grill from a "neutral" rating to an "overweight" rating and dropped their price objective for the company from $53.00 to $50.00 in a research note on Tuesday, August 12th. BMO Capital Markets upgraded shares of Chipotle Mexican Grill from a "market perform" rating to an "outperform" rating and increased their price objective for the company from $56.00 to $65.00 in a research note on Friday, July 18th. Melius initiated coverage on shares of Chipotle Mexican Grill in a research note on Monday, July 14th. They set a "hold" rating and a $60.00 price objective on the stock. Finally, Redburn Atlantic initiated coverage on shares of Chipotle Mexican Grill in a research note on Tuesday, June 10th. They set a "neutral" rating and a $55.00 price objective on the stock. One investment 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 stock. Based on data from MarketBeat, the stock has an average 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.