The Manufacturers Life Insurance Company Purchases New Position in Chipotle Mexican Grill, Inc. $CMG

The Manufacturers Life Insurance Company purchased a new position in Chipotle Mexican Grill, Inc. (NYSE:CMG) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 636,495 shares of the restaurant operator’s stock, valued at approximately $21,641,000. The Manufacturers Life Insurance Company owned approximately 0.05% of Chipotle Mexican Grill at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Wealth Watch Advisors INC purchased a new position in shares of Chipotle Mexican Grill during the 3rd quarter worth approximately $25,000. MV Capital Management Inc. bought a new position in shares of Chipotle Mexican Grill in the 4th quarter worth approximately $26,000. Osbon Capital Management LLC purchased a new position in shares of Chipotle Mexican Grill in the 2nd quarter valued at approximately $26,000. Meeder Asset Management Inc. purchased a new position in shares of Chipotle Mexican Grill in the 2nd quarter valued at approximately $27,000. Finally, Merkkuri Wealth Advisors LLC bought a new stake in shares of Chipotle Mexican Grill during the first quarter valued at approximately $28,000. 91.30% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Chipotle Mexican Grill

In other Chipotle Mexican Grill news, insider Matthew R. Bush sold 2,675 shares of the stock in a transaction on Friday, August 21st. The stock was sold at an average price of $35.75, for a total transaction of $95,631.25. Following the sale, the insider directly owned 21,415 shares in the company, valued at approximately $765,586.25. This trade represents a 11.10% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.45% of the company’s stock.

Chipotle Mexican Grill Stock Performance

Shares of Chipotle Mexican Grill stock opened at $37.24 on Friday. The company has a 50-day simple moving average of $34.21 and a two-hundred day simple moving average of $33.91. The stock has a market capitalization of $47.13 billion, a PE ratio of 34.17, a price-to-earnings-growth ratio of 2.38 and a beta of 0.94. Chipotle Mexican Grill, Inc. has a 52-week low of $28.03 and a 52-week high of $42.81.

Chipotle Mexican Grill (NYSE:CMG) last posted its quarterly earnings results on Wednesday, July 29th. The restaurant operator reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.01. The firm had revenue of $3.35 billion for the quarter, compared to analysts’ expectations of $3.33 billion. Chipotle Mexican Grill had a net margin of 11.43% and a return on equity of 54.65%. The business’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.33 earnings per share. As a group, equities research analysts forecast that Chipotle Mexican Grill, Inc. will post 1.14 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently weighed in on CMG shares. TD Cowen reaffirmed a “buy” rating and issued a $44.00 price target on shares of Chipotle Mexican Grill in a research note on Thursday, July 30th. Raymond James Financial reissued an “outperform” rating and set a $42.50 price objective on shares of Chipotle Mexican Grill in a research report on Thursday, July 30th. Weiss Ratings upgraded shares of Chipotle Mexican Grill from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, August 7th. Morgan Stanley upped their target price on shares of Chipotle Mexican Grill from $37.00 to $39.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 30th. Finally, DA Davidson increased their price target on shares of Chipotle Mexican Grill from $45.00 to $50.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Twenty-three analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $43.84.

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.