Royal Bank of Canada Raises Stock Holdings in Chipotle Mexican Grill, Inc. $CMG

Key Points

• Royal Bank of Canada increased its stake in Chipotle Mexican Grill by 2.2%, acquiring an additional 148,819 shares to hold a total of 6,827,796 shares valued at approximately $342.8 million.
• Chipotle's stock recently opened at $42.15, with a market capitalization of $56.52 billion and significant fluctuations over the past year, holding a 12-month low of $41.18 and a high of $66.74.
• Following its latest earnings report, Chipotle's EPS of $0.33 surpassed estimates, but its revenue of $3.06 billion fell short of expectations, indicating a 3% year-over-year revenue increase.

Royal Bank of Canada boosted its stake in Chipotle Mexican Grill, Inc. (NYSE:CMG - Free Report) by 2.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 6,827,796 shares of the restaurant operator's stock after buying an additional 148,819 shares during the quarter. Royal Bank of Canada owned approximately 0.51% of Chipotle Mexican Grill worth $342,823,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Cloud Capital Management LLC purchased a new stake in Chipotle Mexican Grill during the first quarter worth about $25,000. Saudi Central Bank bought a new position in Chipotle Mexican Grill in the 1st quarter worth approximately $27,000. HighMark Wealth Management LLC boosted its holdings in 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 buying an additional 371 shares during the period. North Capital Inc. bought a new position in Chipotle Mexican Grill in the 1st quarter worth approximately $30,000. Finally, ORG Wealth Partners LLC bought a new position in Chipotle Mexican Grill in the 1st quarter worth approximately $31,000. Hedge funds and other institutional investors own 91.30% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on CMG shares. Redburn Atlantic started coverage on Chipotle Mexican Grill in a research note on Tuesday, June 10th. They issued a "neutral" rating and a $55.00 target price for the company. Raymond James Financial dropped their target price on 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. Robert W. Baird decreased their price target on 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 raised Chipotle Mexican Grill from a "neutral" rating to an "overweight" rating and reduced their target price for the company from $53.00 to $50.00 in a research note on Tuesday, August 12th. Finally, Guggenheim reduced their price target on Chipotle Mexican Grill from $47.00 to $46.00 and set a "neutral" rating on the stock in a research note on Friday, July 25th. One research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $60.22.

Chipotle Mexican Grill Price Performance

Chipotle Mexican Grill stock traded down $0.39 during mid-day trading on Tuesday, reaching $41.75. 20,778,557 shares of the stock traded hands, compared to its average volume of 15,382,955. The stock has a market capitalization of $55.98 billion, a PE ratio of 36.97, a price-to-earnings-growth ratio of 2.14 and a beta of 1.02. Chipotle Mexican Grill, Inc. has a 12-month low of $41.18 and a 12-month high of $66.74. The business's 50-day moving average is $48.41 and its 200-day moving average is $49.90.

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The restaurant operator reported $0.33 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 return on equity of 43.50% and a net margin of 13.32%.The business's quarterly revenue was up 3.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.34 earnings per share. Equities analysts anticipate that Chipotle Mexican Grill, Inc. will post 1.29 EPS for the current fiscal year.

Chipotle Mexican Grill 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.