Chipotle Mexican Grill, Inc. $CMG Shares Acquired by Titleist Asset Management LLC

Key Points

• Titleist Asset Management LLC increased its stake in Chipotle Mexican Grill by 101.6%, acquiring an additional 13,870 shares in the first quarter, bringing its total ownership to 27,517 shares valued at approximately $1.38 million.
• A recent update from several analysts shows a mix of price target changes, with Truist Financial lowering its target to $60, while UBS Group raised its target to $65, indicating varied expectations for Chipotle's performance.
• Chipotle's latest quarterly results showed earnings per share of $0.33, slightly exceeding analyst expectations, but revenue of $3.06 billion fell short of the projected $3.11 billion.

Titleist Asset Management LLC grew its position in Chipotle Mexican Grill, Inc. (NYSE:CMG - Free Report) by 101.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 27,517 shares of the restaurant operator's stock after acquiring an additional 13,870 shares during the quarter. Titleist Asset Management LLC's holdings in Chipotle Mexican Grill were worth $1,382,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Nuveen LLC purchased a new stake in Chipotle Mexican Grill in the first quarter worth $535,023,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its holdings in shares of Chipotle Mexican Grill by 4,138,574.1% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 8,318,735 shares of the restaurant operator's stock valued at $501,620,000 after purchasing an additional 8,318,534 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in Chipotle Mexican Grill by 98.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 9,900,521 shares of the restaurant operator's stock valued at $497,105,000 after acquiring an additional 4,903,969 shares in the last quarter. Montrusco Bolton Investments Inc. raised its holdings in Chipotle Mexican Grill by 5,319.7% in the first quarter. Montrusco Bolton Investments Inc. now owns 4,848,990 shares of the restaurant operator's stock worth $235,580,000 after purchasing an additional 4,759,520 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in Chipotle Mexican Grill by 7.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 56,827,332 shares of the restaurant operator's stock valued at $2,853,302,000 after acquiring an additional 4,027,016 shares during the last quarter. 91.30% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have weighed in on CMG. Melius began coverage on Chipotle Mexican Grill in a report on Monday, July 14th. They issued a "hold" rating and a $60.00 price target for the company. TD Securities reissued a "buy" rating and set a $57.00 price target on shares of Chipotle Mexican Grill in a report on Wednesday, June 18th. UBS Group lifted their price target on shares of Chipotle Mexican Grill from $60.00 to $65.00 and gave the company a "buy" rating in a research note on Thursday, July 17th. Barclays reduced their target price on Chipotle Mexican Grill from $55.00 to $53.00 and set an "equal weight" rating for the company in a report on Thursday, July 24th. Finally, Raymond James Financial dropped their price objective on shares of Chipotle Mexican Grill from $60.00 to $56.00 and set an "outperform" rating for the company in a research note on Friday, August 15th. One research 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. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $60.22.

Chipotle Mexican Grill Stock Performance

Shares of Chipotle Mexican Grill stock traded down $0.39 on Tuesday, reaching $41.75. The company had a trading volume of 17,335,721 shares, compared to its average volume of 14,191,507. Chipotle Mexican Grill, Inc. has a 52-week low of $41.18 and a 52-week high of $66.74. The firm's 50 day moving average price is $48.41 and its two-hundred day moving average price is $49.90. The firm has a market cap of $55.98 billion, a PE ratio of 37.28, a PEG ratio of 2.14 and a beta of 1.02.

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) last issued 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. Chipotle Mexican Grill had a net margin of 13.32% and a return on equity of 43.50%. The company had revenue of $3.06 billion during the quarter, compared to the consensus estimate of $3.11 billion. During the same quarter in the previous year, the firm earned $0.34 earnings per share. The firm's quarterly revenue was up 3.0% on a year-over-year basis. As a group, sell-side analysts predict that Chipotle Mexican Grill, Inc. will post 1.29 EPS for the current 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.