Chipotle Mexican Grill, Inc. $CMG Stock Position Lifted by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS raised its stake in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG) by 1,058.7% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 153,989 shares of the restaurant operator’s stock after purchasing an additional 140,699 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Chipotle Mexican Grill were worth $4,920,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Citizens Financial Group Inc. RI grew its holdings in Chipotle Mexican Grill by 2.5% during the first quarter. Citizens Financial Group Inc. RI now owns 12,708 shares of the restaurant operator’s stock worth $407,000 after buying an additional 311 shares in the last quarter. ANB Bank raised its position in Chipotle Mexican Grill by 5.8% in the 1st quarter. ANB Bank now owns 6,317 shares of the restaurant operator’s stock valued at $202,000 after buying an additional 349 shares during the last quarter. State of Wyoming lifted its stake in Chipotle Mexican Grill by 10.9% during the 1st quarter. State of Wyoming now owns 3,759 shares of the restaurant operator’s stock valued at $120,000 after acquiring an additional 368 shares in the last quarter. Valmark Advisers Inc. lifted its stake in Chipotle Mexican Grill by 2.9% during the 1st quarter. Valmark Advisers Inc. now owns 13,275 shares of the restaurant operator’s stock valued at $425,000 after acquiring an additional 377 shares in the last quarter. Finally, Covestor Ltd lifted its stake in Chipotle Mexican Grill by 20.1% during the 3rd quarter. Covestor Ltd now owns 2,690 shares of the restaurant operator’s stock valued at $86,000 after acquiring an additional 451 shares in the last quarter. 91.30% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

CMG has been the subject of several recent analyst reports. JPMorgan Chase & Co. reduced their target price on shares of Chipotle Mexican Grill from $37.00 to $36.00 and set an “overweight” rating for the company in a research note on Thursday, October 29th. UBS Group reiterated a “buy” rating on shares of Chipotle Mexican Grill in a report on Friday, October 9th. Raymond James Financial reissued an “outperform” rating on shares of Chipotle Mexican Grill in a research report on Thursday, October 29th. Deutsche Bank Aktiengesellschaft cut their price target on shares of Chipotle Mexican Grill from $51.00 to $45.00 and set a “buy” rating on the stock in a report on Wednesday, October 21st. Finally, Piper Sandler reduced their price objective on shares of Chipotle Mexican Grill from $42.00 to $39.00 and set an “overweight” rating for the company in a research report on Thursday, July 30th. Twenty-seven investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $42.36.

Chipotle Mexican Grill Price Performance

NYSE:CMG opened at $34.38 on Monday. The company has a market capitalization of $43.49 billion, a P/E ratio of 32.13, a P/E/G ratio of 2.27 and a beta of 1.00. The business has a fifty day simple moving average of $32.75 and a two-hundred day simple moving average of $33.98. Chipotle Mexican Grill, Inc. has a 1 year low of $27.31 and a 1 year high of $41.42.

Chipotle Mexican Grill (NYSE:CMG) last issued its earnings results 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). The business had revenue of $3.29 billion for the quarter, compared to the consensus estimate of $3.29 billion. Chipotle Mexican Grill had a return on equity of 57.05% and a net margin of 10.83%. Chipotle Mexican Grill’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.29 EPS. As a group, analysts anticipate that Chipotle Mexican Grill, Inc. will post 1.10 earnings per share for the current year.

Key Chipotle Mexican Grill News

Here are the key news stories impacting Chipotle Mexican Grill this week:

• Positive Sentiment: Third-quarter revenue growth, positive comparable-sales trends and new restaurant openings supported expansion. Chipotle also recorded its third consecutive quarter of comparable-store sales growth. Can Chipotle’s Sales Growth Offset Lower Restaurant-Level Margins? Should Investors Buy Into the Chipotle Turnaround?
• Neutral Sentiment: Chipotle is bringing back its popular smoked brisket in an effort to attract traffic, though the news does not establish how much it will boost sales. Chipotle looks to drive traffic with the return of its popular smoked brisket
• Negative Sentiment: Restaurant-level margins are under pressure from higher operating costs, while weaker sales trends toward quarter-end raise questions about whether revenue growth can offset the squeeze on profitability. Can Chipotle’s Sales Growth Offset Lower Restaurant-Level Margins?
• Negative Sentiment: An analyst fair-value estimate fell about 5%, from $42.71 to $40.57. The more cautious view reflects food-safety headlines, mixed near-term growth drivers and concern that Chipotle’s long-term earnings potential may already be reflected in its valuation. Chipotle (CMG) Stock Sees Fair Value Cut As Analysts Turn More Cautious

Insider Buying and Selling at Chipotle Mexican Grill

In other news, insider Matthew R. Bush sold 2,675 shares of the stock in a transaction dated Friday, August 21st. The shares were 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 of the company’s stock, valued at approximately $765,586.25. This represents a 11.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.45% of the stock is currently owned by corporate insiders.

Chipotle Mexican Grill Profile

Chipotle Mexican Grill is a fast-casual restaurant company that serves Mexican-inspired food, including burritos, bowls, tacos and salads. Customers can customize meals with ingredients such as rice, beans, meats, vegetables, salsas and guacamole.

Founded by Steve Ells in Denver, Colorado, in 1993, Chipotle built its business around preparing food in restaurant kitchens and emphasizing ingredients it describes as responsibly sourced. The company primarily operates its own restaurants, rather than relying on a franchise model.

Chipotle serves customers in the United States and select international markets, including Canada and the United Kingdom.