Chipotle Mexican Grill, Inc. $CMG Shares Acquired by Taikang Asset Management Hong Kong Co Ltd

Taikang Asset Management Hong Kong Co Ltd lifted its position in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG) by 287.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 239,427 shares of the restaurant operator’s stock after acquiring an additional 177,627 shares during the quarter. Taikang Asset Management Hong Kong Co Ltd’s holdings in Chipotle Mexican Grill were worth $8,859,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Bank of Nova Scotia grew 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 purchasing an additional 47,241 shares during the period. Klein Pavlis & Peasley Financial Inc. acquired a new position in shares of Chipotle Mexican Grill during the 4th quarter worth about $1,597,000. Norges Bank purchased a new position in Chipotle Mexican Grill in the 4th quarter valued at about $711,837,000. Crescent Park Management L.P. purchased a new position in Chipotle Mexican Grill in the 3rd quarter valued at about $5,911,000. Finally, Focus Partners Advisor Solutions LLC boosted its holdings in Chipotle Mexican Grill by 156.9% in the 4th quarter. Focus Partners Advisor Solutions LLC now owns 58,269 shares of the restaurant operator’s stock worth $2,156,000 after buying an additional 35,589 shares during the last quarter. 91.30% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. JPMorgan Chase & Co. upgraded Chipotle Mexican Grill from a “neutral” rating to an “overweight” rating and cut their price objective for the stock from $38.00 to $35.00 in a research note on Friday, June 5th. Mizuho upgraded Chipotle Mexican Grill from a “neutral” rating to an “outperform” rating and raised their target price for the company from $37.00 to $40.00 in a research report on Friday, March 20th. Zacks Research raised Chipotle Mexican Grill from a “strong sell” rating to a “hold” rating in a research note on Friday, April 17th. Piper Sandler reduced their price objective on Chipotle Mexican Grill from $44.00 to $42.00 and set an “overweight” rating for the company in a research note on Thursday, April 30th. Finally, Stephens increased their price objective on Chipotle Mexican Grill from $38.00 to $39.00 and gave the company an “equal weight” rating in a research note on Thursday, April 30th. Twenty-four equities research 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. According to MarketBeat.com, Chipotle Mexican Grill has a consensus rating of “Moderate Buy” and an average target price of $45.48.

Chipotle Mexican Grill Trading Down 0.2%

CMG stock opened at $32.66 on Wednesday. The firm has a 50-day moving average of $32.73 and a two-hundred day moving average of $35.20. Chipotle Mexican Grill, Inc. has a 12 month low of $28.03 and a 12 month high of $58.42. The company has a market cap of $41.90 billion, a price-to-earnings ratio of 29.97, a PEG ratio of 2.11 and a beta of 0.99.

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

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.