Westpac Banking Corp Purchases New Shares in Chipotle Mexican Grill, Inc. $CMG

Key Points

• Westpac Banking Corp purchased 113,223 Chipotle shares in the second quarter, valued at approximately $3.85 million. Institutional investors collectively own 91.3% of the company.
• Chipotle shares were trading at $36.84, up 4.4%, after the company exceeded quarterly earnings and revenue expectations. Revenue rose 9.3% year over year, while EPS came in at $0.33 versus the $0.32 consensus estimate.
• Analysts maintain a “Moderate Buy” consensus rating, with 24 Buy ratings and nine Holds and an average price target of $44.16. Recent targets range from $39 to $50.

Westpac Banking Corp purchased a new position in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 113,223 shares of the restaurant operator's stock, valued at approximately $3,850,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in shares of Chipotle Mexican Grill by 14.8% in the fourth quarter. Vanguard Group Inc. now owns 144,588,220 shares of the restaurant operator's stock valued at $5,349,764,000 after buying an additional 18,660,882 shares during the last quarter. BlackRock Inc. acquired a new stake in shares of Chipotle Mexican Grill during the second quarter worth about $4,417,475,000. Capital World Investors grew its holdings in shares of Chipotle Mexican Grill by 15.8% during the fourth quarter. Capital World Investors now owns 101,688,010 shares of the restaurant operator's stock worth $3,762,457,000 after buying an additional 13,843,222 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Chipotle Mexican Grill by 18.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 58,447,867 shares of the restaurant operator's stock worth $2,162,572,000 after buying an additional 9,237,720 shares during the last quarter. Finally, Capital International Investors increased its position in Chipotle Mexican Grill by 17.7% in the 4th quarter. Capital International Investors now owns 45,294,212 shares of the restaurant operator's stock valued at $1,675,895,000 after acquiring an additional 6,796,285 shares during the period. 91.30% of the stock is owned by hedge funds and other institutional investors.

Chipotle Mexican Grill Trading Up 4.4%

Shares of Chipotle Mexican Grill stock opened at $36.84 on Friday. The company has a 50-day moving average of $33.80 and a two-hundred day moving average of $33.99. Chipotle Mexican Grill, Inc. has a 12-month low of $28.03 and a 12-month high of $43.72. The stock has a market cap of $46.62 billion, a PE ratio of 33.80, a price-to-earnings-growth ratio of 2.25 and a beta of 0.94.

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

Analyst Ratings Changes

CMG has been the subject of several analyst reports. Argus upped their price objective on Chipotle Mexican Grill from $40.00 to $45.00 and gave the company a "buy" rating in a research note on Tuesday, August 4th. TD Cowen reiterated a "buy" rating and issued a $44.00 target price on shares of Chipotle Mexican Grill in a research note on Thursday, July 30th. Guggenheim restated a "neutral" rating and set a $36.00 price target (up from $35.00) on shares of Chipotle Mexican Grill in a research note on Friday, July 31st. Piper Sandler decreased their price target on Chipotle Mexican Grill from $42.00 to $39.00 and set an "overweight" rating for the company in a report on Thursday, July 30th. Finally, DA Davidson lifted their price objective on shares of Chipotle Mexican Grill from $45.00 to $50.00 and gave the company a "buy" rating in a research report on Thursday, July 30th. Twenty-four equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat, Chipotle Mexican Grill has a consensus rating of "Moderate Buy" and a consensus price target of $44.16.

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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