Mirae Asset Global Investments Co. Ltd. Makes New Investment in Chipotle Mexican Grill, Inc. $CMG

Mirae Asset Global Investments Co. Ltd. acquired a new stake in Chipotle Mexican Grill, Inc. (NYSE:CMG) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 339,725 shares of the restaurant operator’s stock, valued at approximately $10,854,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Invera Wealth Advisors LLC raised its stake in Chipotle Mexican Grill by 10.9% in the 3rd quarter. Invera Wealth Advisors LLC now owns 36,355 shares of the restaurant operator’s stock valued at $1,162,000 after acquiring an additional 3,586 shares during the period. MGO One Seven LLC raised its position in shares of Chipotle Mexican Grill by 8.7% in the third quarter. MGO One Seven LLC now owns 53,760 shares of the restaurant operator’s stock valued at $1,718,000 after purchasing an additional 4,296 shares during the period. State of Wyoming lifted its stake in shares of Chipotle Mexican Grill by 105.7% during the 3rd quarter. State of Wyoming now owns 9,390 shares of the restaurant operator’s stock worth $300,000 after buying an additional 4,825 shares during the last quarter. Whelan Financial lifted its stake in shares of Chipotle Mexican Grill by 11.1% during the 3rd quarter. Whelan Financial now owns 23,591 shares of the restaurant operator’s stock worth $754,000 after buying an additional 2,364 shares during the last quarter. Finally, International Assets Investment Management LLC boosted its holdings in shares of Chipotle Mexican Grill by 127.1% during the 3rd quarter. International Assets Investment Management LLC now owns 13,975 shares of the restaurant operator’s stock worth $447,000 after buying an additional 7,822 shares during the period. Institutional investors and hedge funds own 91.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CMG. Stephens reissued an “equal weight” rating and issued a $38.00 price target on shares of Chipotle Mexican Grill in a report on Thursday, October 29th. Deutsche Bank Aktiengesellschaft decreased their target price on Chipotle Mexican Grill from $51.00 to $45.00 and set a “buy” rating on the stock in a research report on Wednesday, October 21st. Robert W. Baird dropped their price target on Chipotle Mexican Grill from $40.00 to $35.00 and set a “neutral” rating for the company in a report on Friday, October 2nd. UBS Group reaffirmed a “buy” rating on shares of Chipotle Mexican Grill in a report on Friday, October 9th. Finally, TD Cowen reiterated a “hold” rating and set a $32.00 price objective on shares of Chipotle Mexican Grill in a research report on Thursday, October 29th. Twenty-seven analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $42.36.

Insiders Place Their Bets

In related news, insider Matthew R. Bush sold 2,675 shares of the business’s stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $35.75, for a total value of $95,631.25. Following the sale, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.45% of the company’s stock.

Chipotle Mexican Grill Stock Performance

Shares of Chipotle Mexican Grill stock opened at $35.17 on Thursday. Chipotle Mexican Grill, Inc. has a 52-week low of $27.31 and a 52-week high of $41.42. The stock has a market capitalization of $44.49 billion, a P/E ratio of 32.87, a P/E/G ratio of 2.19 and a beta of 1.00. The stock’s 50-day simple moving average is $32.84 and its 200 day simple moving average is $34.03.

Chipotle Mexican Grill (NYSE:CMG) last announced its quarterly earnings data on Wednesday, October 28th. The restaurant operator reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.02). Chipotle Mexican Grill had a return on equity of 57.05% and a net margin of 10.83%. The business had revenue of $3.29 billion during the quarter, compared to the consensus estimate of $3.29 billion. During the same quarter in the previous year, the firm posted $0.29 earnings per share. The company’s revenue was up 9.6% compared to the same quarter last year. Equities research analysts forecast that Chipotle Mexican Grill, Inc. will post 1.10 EPS for the current fiscal year.

About Chipotle Mexican Grill

Chipotle Mexican Grill, Inc (NYSE: CMG) operates a chain of fast-casual restaurants focused on Mexican-inspired food. Its menu includes burritos, burrito bowls, tacos, quesadillas and salads, with options such as chicken, steak, barbacoa, carnitas, sofritas and vegetables. The company emphasizes preparing food in its restaurants from ingredients it describes as responsibly sourced, including meats raised with attention to animal welfare and produce from selected suppliers.

Founded by Steve Ells in 1993, Chipotle opened its first restaurant in Denver, Colorado.