QRG Capital Management Inc. Increases Holdings in Chipotle Mexican Grill, Inc. $CMG

Key Points

• QRG Capital Management increased its Chipotle stake by 317.8% in the second quarter, adding 379,020 shares to hold 498,275 shares valued at approximately $16.9 million.
• Institutional ownership remains high at 91.3%, with several other funds also initiating or expanding positions in Chipotle.
• Chipotle beat quarterly earnings and revenue estimates, while analysts maintain a “Moderate Buy” consensus rating with an average price target of $43.84.

QRG Capital Management Inc. lifted its holdings in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG - Free Report) by 317.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 498,275 shares of the restaurant operator's stock after purchasing an additional 379,020 shares during the period. QRG Capital Management Inc.'s holdings in Chipotle Mexican Grill were worth $16,941,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. EP Wealth Advisors LLC bought a new position in Chipotle Mexican Grill during the second quarter valued at $948,000. Callan Family Office LLC purchased a new stake in Chipotle Mexican Grill in the second quarter worth $1,406,000. Norges Bank bought a new stake in shares of Chipotle Mexican Grill in the fourth quarter valued at $711,837,000. PensionDanmark Pensionsforsikringsaktieselskab raised its stake in shares of Chipotle Mexican Grill by 40.2% in the second quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 268,771 shares of the restaurant operator's stock valued at $9,138,000 after buying an additional 77,002 shares during the period. Finally, Focus Partners Advisor Solutions LLC lifted its position in shares of Chipotle Mexican Grill by 156.9% during the 4th quarter. Focus Partners Advisor Solutions LLC now owns 58,269 shares of the restaurant operator's stock valued at $2,156,000 after buying an additional 35,589 shares during the last quarter. 91.30% of the stock is owned by hedge funds and other institutional investors.

Chipotle Mexican Grill Stock Up 0.2%

Shares of CMG opened at $32.68 on Thursday. Chipotle Mexican Grill, Inc. has a twelve month low of $28.03 and a twelve month high of $42.81. The stock has a market cap of $41.36 billion, a PE ratio of 29.99, a P/E/G ratio of 2.00 and a beta of 0.94. The business's 50-day moving average price is $34.94 and its 200-day moving average price is $33.71.

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The restaurant operator reported $0.33 EPS for the quarter, beating the consensus estimate of $0.32 by $0.01. The company had revenue of $3.35 billion during the quarter, compared to analysts' expectations of $3.33 billion. Chipotle Mexican Grill had a net margin of 11.43% and a return on equity of 54.65%. Chipotle Mexican Grill's revenue for the quarter was up 9.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.33 earnings per share. Analysts expect that Chipotle Mexican Grill, Inc. will post 1.15 earnings per share for the current fiscal year.

Insider Transactions at Chipotle Mexican Grill

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

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Guggenheim reiterated a "neutral" rating and set a $36.00 price target (up from $35.00) on shares of Chipotle Mexican Grill in a research note on Friday, July 31st. Sanford C. Bernstein reaffirmed an "outperform" rating on shares of Chipotle Mexican Grill in a report on Friday, July 31st. Robert W. Baird reiterated a "neutral" rating and set a $40.00 target price (down from $44.00) on shares of Chipotle Mexican Grill in a research report on Monday, August 24th. Bank of America reiterated a "buy" rating and issued a $53.00 target price (up from $50.00) on shares of Chipotle Mexican Grill in a research note on Tuesday, September 1st. Finally, Stephens reissued a "positive" rating and issued a $40.00 price target (up from $36.00) on shares of Chipotle Mexican Grill in a research report on Thursday, July 30th. Twenty-three analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $43.84.

About Chipotle Mexican Grill

Chipotle Mexican Grill, Inc is a fast-casual restaurant company that operates restaurants under the Chipotle Mexican Grill brand. Its menu centers on customizable Mexican-inspired food, including burritos, bowls, tacos and salads, along with sides, beverages and children's meals.

The company emphasizes cooking with responsibly sourced ingredients and preparing food in its restaurants. Customers can order meals in person, through digital ordering channels, for pickup or delivery. Chipotle serves customers primarily in the United States, with additional restaurants in Canada, the United Kingdom, France and Germany.

Chipotle was founded in 1993 by Steve Ells in Denver, Colorado.

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