Parnassus Investments LLC Has $67.88 Million Stake in Chipotle Mexican Grill, Inc. $CMG

Parnassus Investments LLC raised its position in Chipotle Mexican Grill, Inc. (NYSE:CMG) by 307.4% during the 4th quarter, HoldingsChannel.com reports. The firm owned 1,834,533 shares of the restaurant operator’s stock after purchasing an additional 1,384,178 shares during the period. Parnassus Investments LLC’s holdings in Chipotle Mexican Grill were worth $67,878,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bank of Nova Scotia increased its position in shares of Chipotle Mexican Grill by 11.0% in the third quarter. Bank of Nova Scotia now owns 475,672 shares of the restaurant operator’s stock valued at $18,642,000 after acquiring an additional 47,241 shares during the last quarter. Klein Pavlis & Peasley Financial Inc. acquired a new stake in shares of Chipotle Mexican Grill in the fourth quarter valued at about $1,597,000. Norges Bank acquired a new stake in shares of Chipotle Mexican Grill in the fourth quarter valued at about $711,837,000. Crescent Park Management L.P. acquired a new stake in shares of Chipotle Mexican Grill in the third quarter valued at about $5,911,000. Finally, WINTON GROUP Ltd increased its position in shares of Chipotle Mexican Grill by 269.6% in the third quarter. WINTON GROUP Ltd now owns 379,886 shares of the restaurant operator’s stock valued at $14,888,000 after acquiring an additional 277,090 shares during the last quarter. Institutional investors and hedge funds own 91.30% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on CMG. DA Davidson began coverage on Chipotle Mexican Grill in a research report on Friday, March 6th. They issued a “buy” rating and a $51.00 target price on the stock. Morgan Stanley set a $37.00 target price on Chipotle Mexican Grill and gave the company an “equal weight” rating in a research report on Wednesday, June 3rd. Guggenheim cut their price target on shares of Chipotle Mexican Grill from $36.00 to $35.00 and set a “neutral” rating for the company in a research note on Friday, May 1st. Weiss Ratings cut shares of Chipotle Mexican Grill from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, May 20th. Finally, JPMorgan Chase & Co. upgraded shares of Chipotle Mexican Grill from a “neutral” rating to an “overweight” rating and cut their price target for the company from $38.00 to $35.00 in a research note on Friday, June 5th. Twenty-four analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Chipotle Mexican Grill presently has an average rating of “Moderate Buy” and a consensus price target of $45.48.

Chipotle Mexican Grill Stock Up 2.9%

Shares of NYSE CMG opened at $31.30 on Friday. The business’s 50 day moving average price is $32.76 and its two-hundred day moving average price is $35.21. The company has a market cap of $40.15 billion, a PE ratio of 28.72, a price-to-earnings-growth ratio of 1.96 and a beta of 0.99. Chipotle Mexican Grill, Inc. has a twelve month low of $28.03 and a twelve month high of $58.42.

Chipotle Mexican Grill (NYSE:CMG) last announced its quarterly earnings results on Wednesday, April 29th. The restaurant operator reported $0.24 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.24. The firm had revenue of $3.09 billion for the quarter, compared to the consensus estimate of $3.07 billion. Chipotle Mexican Grill had a return on equity of 49.64% and a net margin of 11.96%.The business’s revenue was up 7.4% compared to the same quarter last year. During the same quarter in the previous year, the business 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.

Chipotle Mexican Grill 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.