Russell Investments Group Ltd. Buys 292,873 Shares of Chipotle Mexican Grill, Inc. $CMG

Key Points

• Russell Investments Group Ltd. raised its stake in Chipotle by 11.2%, acquiring 292,873 shares in the quarter and now owning 2,910,838 shares (about 0.22% of the company) valued at $114.17 million.
• Analysts maintain a consensus rating of Moderate Buy with a $47.37 average target, though several firms recently trimmed targets or downgraded the stock (e.g., Mizuho to $37/neutral; Gordon Haskett to hold; Wells Fargo lowered its TP to $45).
• Chipotle modestly beat quarterly expectations with $0.25 EPS vs. $0.24 expected and $2.98B revenue (up 4.9% YoY); the stock trades near $35.33, with a market cap of $46.0B and a P/E around 31.

Russell Investments Group Ltd. raised its stake in Chipotle Mexican Grill, Inc. (NYSE:CMG - Free Report) by 11.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,910,838 shares of the restaurant operator's stock after acquiring an additional 292,873 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.22% of Chipotle Mexican Grill worth $114,170,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Operose Advisors LLC bought a new stake in shares of Chipotle Mexican Grill in the 2nd quarter worth approximately $25,000. Salomon & Ludwin LLC bought a new position in Chipotle Mexican Grill during the third quarter valued at $26,000. Lavaca Capital LLC purchased a new stake in Chipotle Mexican Grill in the second quarter worth $28,000. Steigerwald Gordon & Koch Inc. purchased a new stake in Chipotle Mexican Grill in the third quarter worth $29,000. Finally, Murphy & Mullick Capital Management Corp raised its stake in shares of Chipotle Mexican Grill by 106.7% in the third quarter. Murphy & Mullick Capital Management Corp now owns 775 shares of the restaurant operator's stock valued at $30,000 after buying an additional 400 shares during the period. 91.30% of the stock is owned by institutional investors.

Analyst Ratings Changes

CMG has been the topic of a number of recent research reports. Mizuho dropped their price target on shares of Chipotle Mexican Grill from $38.00 to $37.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 4th. Gordon Haskett downgraded shares of Chipotle Mexican Grill from a "strong-buy" rating to a "hold" rating in a report on Thursday, January 8th. Evercore restated an "outperform" rating and issued a $45.00 price objective on shares of Chipotle Mexican Grill in a research report on Friday, December 19th. Wells Fargo & Company decreased their target price on shares of Chipotle Mexican Grill from $50.00 to $45.00 and set an "overweight" rating on the stock in a report on Wednesday, February 4th. Finally, Stifel Nicolaus reiterated a "buy" rating on shares of Chipotle Mexican Grill in a research note on Monday. Twenty-three investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $47.37.

Chipotle Mexican Grill Trading Down 0.1%

Shares of NYSE CMG opened at $35.33 on Tuesday. Chipotle Mexican Grill, Inc. has a 12 month low of $29.75 and a 12 month high of $58.42. The firm has a market capitalization of $46.01 billion, a price-to-earnings ratio of 30.99, a PEG ratio of 2.18 and a beta of 1.00. The business has a 50-day moving average of $38.33 and a 200-day moving average of $37.77.

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) last posted its quarterly earnings data on Tuesday, February 3rd. The restaurant operator reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.01. Chipotle Mexican Grill had a net margin of 12.88% and a return on equity of 47.99%. The company had revenue of $2.98 billion for the quarter, compared to analysts' expectations of $2.96 billion. During the same period in the prior year, the business earned $0.25 earnings per share. Chipotle Mexican Grill's revenue for the quarter was up 4.9% compared to the same quarter last year. On average, analysts predict that Chipotle Mexican Grill, Inc. will post 1.29 earnings per share for the current year.

Chipotle Mexican Grill Company Profile

Chipotle Mexican Grill is a fast-casual restaurant company known for its Mexican-inspired menu of burritos, bowls, tacos and salads. Founded in 1993 by Steve Ells, the chain emphasizes fresh, customizable meals made from a limited menu of core ingredients and a focus on ingredient quality. Chipotle operates primarily company-owned restaurants and offers dine-in, takeout, catering and delivery through its own digital platforms and third-party partners.

The company is headquartered in Newport Beach, California, and traces its roots to Denver, Colorado.

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