Panagora Asset Management Inc. Acquires 710,363 Shares of Chipotle Mexican Grill, Inc. $CMG

Panagora Asset Management Inc. increased its holdings in Chipotle Mexican Grill, Inc. (NYSE:CMG) by 7,629.3% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 719,674 shares of the restaurant operator’s stock after purchasing an additional 710,363 shares during the quarter. Panagora Asset Management Inc.’s holdings in Chipotle Mexican Grill were worth $26,628,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of CMG. Capital World Investors raised its stake in Chipotle Mexican Grill by 122.7% in the third quarter. Capital World Investors now owns 87,844,788 shares of the restaurant operator’s stock worth $3,442,645,000 after buying an additional 48,398,628 shares in the last quarter. Norges Bank bought a new position in Chipotle Mexican Grill in the fourth quarter worth approximately $711,837,000. Vanguard Group Inc. raised its stake in 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 worth $5,349,764,000 after buying an additional 18,660,882 shares in the last quarter. Capital International Investors raised its stake in Chipotle Mexican Grill by 42.4% in the third quarter. Capital International Investors now owns 38,497,927 shares of the restaurant operator’s stock worth $1,509,043,000 after buying an additional 11,471,658 shares in the last quarter. Finally, Clearbridge Investments LLC raised its stake in Chipotle Mexican Grill by 206.4% in the fourth quarter. Clearbridge Investments LLC now owns 14,062,158 shares of the restaurant operator’s stock worth $520,300,000 after buying an additional 9,473,120 shares in the last quarter. Institutional investors own 91.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on CMG shares. Barclays reduced their price objective on shares of Chipotle Mexican Grill from $40.00 to $38.00 and set an “equal weight” rating for the company in a research note on Thursday, April 30th. Raymond James Financial reduced their price objective on shares of Chipotle Mexican Grill from $43.00 to $41.00 and set an “outperform” rating for the company in a research note on Tuesday, April 21st. Wall Street Zen raised shares of Chipotle Mexican Grill from a “sell” rating to a “hold” rating in a research note on Saturday, March 7th. Morgan Stanley set a $37.00 price objective on shares of Chipotle Mexican Grill and gave the stock an “equal weight” rating in a research note on Wednesday, June 3rd. Finally, Mizuho raised Chipotle Mexican Grill from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $37.00 to $40.00 in a research report on Friday, March 20th. Twenty-four analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Chipotle Mexican Grill currently has an average rating of “Moderate Buy” and an average price target of $45.48.

Chipotle Mexican Grill Price Performance

Shares of CMG opened at $32.70 on Tuesday. The firm has a market capitalization of $41.95 billion, a PE ratio of 30.00, a price-to-earnings-growth ratio of 2.07 and a beta of 0.99. Chipotle Mexican Grill, Inc. has a 1-year low of $28.03 and a 1-year high of $58.42. The company’s fifty day moving average price is $32.74 and its 200-day moving average price is $35.21.

Chipotle Mexican Grill (NYSE:CMG) last announced its quarterly earnings data on Wednesday, April 29th. The restaurant operator reported $0.24 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.24. The firm had revenue of $3.09 billion for the quarter, compared to analyst estimates of $3.07 billion. Chipotle Mexican Grill had a net margin of 11.96% and a return on equity of 49.64%. The business’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.29 earnings per share. As a group, research analysts anticipate that Chipotle Mexican Grill, Inc. will post 1.13 EPS for the current fiscal 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.