Van ECK Associates Corp Purchases 184,806 Shares of Chipotle Mexican Grill, Inc. $CMG

Van ECK Associates Corp grew its position in Chipotle Mexican Grill, Inc. (NYSE:CMG - Free Report) by 3.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,567,087 shares of the restaurant operator's stock after buying an additional 184,806 shares during the quarter. Van ECK Associates Corp owned 0.44% of Chipotle Mexican Grill worth $189,281,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. EP Wealth Advisors LLC acquired a new stake in shares of Chipotle Mexican Grill during the second quarter worth about $948,000. Callan Family Office LLC acquired a new position in shares of Chipotle Mexican Grill in the 2nd quarter valued at approximately $1,406,000. Norges Bank bought a new stake in Chipotle Mexican Grill during the 4th quarter worth approximately $711,837,000. Focus Partners Advisor Solutions LLC increased its stake in 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 worth $2,156,000 after purchasing an additional 35,589 shares in the last quarter. Finally, PensionDanmark Pensionsforsikringsaktieselskab raised its holdings in Chipotle Mexican Grill by 40.2% during the 2nd quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 268,771 shares of the restaurant operator's stock worth $9,138,000 after buying an additional 77,002 shares during the period. Institutional investors own 91.30% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on CMG shares. Weiss Ratings raised shares of Chipotle Mexican Grill from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Friday, August 7th. Stephens reissued a "positive" rating and set a $40.00 price objective (up from $36.00) on shares of Chipotle Mexican Grill in a research report on Thursday, July 30th. TD Cowen restated a "buy" rating and set a $44.00 price objective on shares of Chipotle Mexican Grill in a report on Thursday, July 30th. Citigroup cut their price objective on shares of Chipotle Mexican Grill from $46.00 to $45.00 and set a "buy" rating on the stock in a research report on Monday, July 13th. Finally, Robert W. Baird reaffirmed a "neutral" rating and issued a $40.00 target price (down from $44.00) on shares of Chipotle Mexican Grill in a research note on Monday, August 24th. Twenty-three research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $43.84.

Insiders Place Their Bets

In related news, insider Matthew R. Bush sold 2,675 shares of the business's stock in a transaction on Friday, August 21st. The shares were sold at an average price of $35.75, for a total transaction of $95,631.25. Following the transaction, the insider directly owned 21,415 shares in the company, valued at approximately $765,586.25. The trade was a 11.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.45% of the company's stock.

Chipotle Mexican Grill Stock Performance

CMG opened at $38.08 on Friday. The business's 50-day simple moving average is $34.33 and its 200 day simple moving average is $33.94. Chipotle Mexican Grill, Inc. has a 52-week low of $28.03 and a 52-week high of $42.81. The firm has a market capitalization of $48.19 billion, a PE ratio of 34.94, a PEG ratio of 2.37 and a beta of 0.94.

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) last posted its quarterly earnings results on Wednesday, July 29th. The restaurant operator reported $0.33 earnings per share for the quarter, beating analysts' consensus estimates of $0.32 by $0.01. Chipotle Mexican Grill had a return on equity of 54.65% and a net margin of 11.43%.The firm had revenue of $3.35 billion during the quarter, compared to the consensus estimate of $3.33 billion. During the same period last year, the company earned $0.33 earnings per share. The business's revenue was up 9.3% compared to the same quarter last year. On average, research analysts forecast that Chipotle Mexican Grill, Inc. will post 1.14 earnings per share for the current year.

About Chipotle Mexican Grill

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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