The Manufacturers Life Insurance Company Grows Holdings in Chipotle Mexican Grill, Inc. $CMG

Key Points

• The Manufacturers Life Insurance Company increased its stake in Chipotle Mexican Grill, holding 2,309,469 shares and representing a 20.1% increase during the first quarter.
• Several analysts have adjusted their price targets for Chipotle shares, with an average target price of $60.22 and most ratings classified as "Buy" or "Strong Buy."
• Insider Roger E. Theodoredis sold 113,875 shares at an average price of $49.70, reducing his position by 50.91%.

The Manufacturers Life Insurance Company lifted its stake in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG - Free Report) by 20.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,309,469 shares of the restaurant operator's stock after purchasing an additional 386,866 shares during the period. The Manufacturers Life Insurance Company owned 0.17% of Chipotle Mexican Grill worth $115,958,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Revolve Wealth Partners LLC increased its stake in Chipotle Mexican Grill by 4.7% during the fourth 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 during the last quarter. Bank Pictet & Cie Europe AG raised its stake in shares of Chipotle Mexican Grill by 22.5% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 1,518,593 shares of the restaurant operator's stock valued at $91,571,000 after acquiring an additional 279,267 shares in the last quarter. Schonfeld Strategic Advisors LLC acquired a new stake in Chipotle Mexican Grill in the 4th quarter valued at about $5,470,000. Bison Wealth LLC acquired a new stake in Chipotle Mexican Grill in the fourth quarter valued at approximately $224,000. Finally, Keel Point LLC lifted its position in shares of Chipotle Mexican Grill by 4.7% during the 4th quarter. Keel Point LLC now owns 17,737 shares of the restaurant operator's stock worth $1,070,000 after purchasing an additional 790 shares during the last quarter. Hedge funds and other institutional investors own 91.30% of the company's stock.

Chipotle Mexican Grill Stock Down 0.6%

Shares of CMG stock traded down $0.26 during mid-day trading on Monday, reaching $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's 50 day simple moving average is $48.64 and its 200-day simple moving average is $50.01. Chipotle Mexican Grill, Inc. has a 12-month low of $41.18 and a 12-month high of $66.74. The firm has a market capitalization of $56.52 billion, a PE ratio of 37.64, a price-to-earnings-growth ratio of 2.14 and a beta of 1.02.

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The restaurant operator reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.01. The company had revenue of $3.06 billion during the quarter, compared to the consensus estimate of $3.11 billion. Chipotle Mexican Grill had a return on equity of 43.50% and a net margin of 13.32%.The company's revenue was up 3.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.34 earnings per share. As a group, research analysts anticipate that Chipotle Mexican Grill, Inc. will post 1.29 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently commented on CMG shares. Barclays dropped their target price on shares of Chipotle Mexican Grill from $55.00 to $53.00 and set an "equal weight" rating on the stock in a research report on Thursday, July 24th. Stephens reissued an "equal weight" rating and set a $60.00 price target on shares of Chipotle Mexican Grill in a report on Thursday, July 24th. TD Cowen reduced their target price on Chipotle Mexican Grill from $61.00 to $58.00 and set a "buy" rating for the company in a report on Wednesday, July 23rd. Piper Sandler upgraded shares of Chipotle Mexican Grill from a "neutral" rating to an "overweight" rating and reduced their price target for the company from $53.00 to $50.00 in a research report on Tuesday, August 12th. Finally, Guggenheim decreased their price objective on shares of Chipotle Mexican Grill from $47.00 to $46.00 and set a "neutral" rating on the stock in a research report on Friday, July 25th. One 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 company. Based on data from MarketBeat.com, Chipotle Mexican Grill currently has a consensus rating of "Moderate Buy" and a consensus target price of $60.22.

About Chipotle Mexican Grill

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.