Edgestream Partners L.P. Buys 38,657 Shares of Chipotle Mexican Grill, Inc. $CMG

Edgestream Partners L.P. raised its stake in Chipotle Mexican Grill, Inc. (NYSE:CMG) by 18.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 253,875 shares of the restaurant operator’s stock after buying an additional 38,657 shares during the period. Edgestream Partners L.P.’s holdings in Chipotle Mexican Grill were worth $8,127,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Wealth Watch Advisors INC bought a new position in shares of Chipotle Mexican Grill in the 3rd quarter valued at $25,000. MV Capital Management Inc. bought a new stake in Chipotle Mexican Grill during the 4th quarter worth $26,000. Osbon Capital Management LLC bought a new stake in Chipotle Mexican Grill during the 4th quarter worth $28,000. Merkkuri Wealth Advisors LLC acquired a new position in Chipotle Mexican Grill in the 1st quarter worth about $28,000. Finally, Rule One Partners LLC acquired a new position in Chipotle Mexican Grill in the 1st quarter worth about $32,000. Institutional investors own 91.30% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Zacks Research raised Chipotle Mexican Grill from a “strong sell” rating to a “hold” rating in a research note on Friday, April 17th. JPMorgan Chase & Co. raised Chipotle Mexican Grill from a “neutral” rating to an “overweight” rating and lowered their price objective for the company from $38.00 to $35.00 in a research note on Friday, June 5th. Guggenheim dropped their price objective on shares of Chipotle Mexican Grill from $36.00 to $35.00 and set a “neutral” rating for the company in a report on Friday, May 1st. Piper Sandler cut their target price on shares of Chipotle Mexican Grill from $44.00 to $42.00 and set an “overweight” rating on the stock in a research report on Thursday, April 30th. Finally, Argus upgraded shares of Chipotle Mexican Grill from a “hold” rating to a “buy” rating and set a $40.00 target price on the stock in a research report on Tuesday, May 5th. Twenty-three analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Chipotle Mexican Grill currently has an average rating of “Moderate Buy” and an average price target of $43.86.

Chipotle Mexican Grill News Roundup

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

• Positive Sentiment: Quarterly results beat expectations: Chipotle reported adjusted earnings of $0.33 per share, above the $0.32 consensus estimate, while revenue rose 9.3% year over year to $3.35 billion, slightly exceeding expectations. Chipotle: Q2 Earnings Snapshot
• Positive Sentiment: Comparable sales momentum improved: Comparable restaurant sales grew 2.2%, marking a second consecutive quarter of improving transaction trends. Value offers, menu updates and the company’s “Recipe for Growth” strategy helped attract diners in a competitive market. Chipotle raises annual sales forecast
• Positive Sentiment: Full-year outlook was raised: Chipotle increased its comparable-sales guidance, signaling that management expects the second-quarter improvement to continue. The company also opened 100 restaurants during the quarter, supporting long-term revenue growth. Chipotle raises full-year comparable sales guidance
• Neutral Sentiment: Food-safety concerns may be temporary: The company said it was not involved in the reported cyclospora outbreak, although fears related to a lettuce-linked illness reportedly reduced traffic in the second half of July. Chipotle lifts its sales forecast despite outbreak concerns
• Negative Sentiment: Margins remain a risk: Although sales and earnings exceeded estimates, investors continue to monitor labor costs, restaurant-level margins and whether late-July traffic softness persists. Chipotle’s earnings were roughly flat from the prior-year quarter at $0.33 per share. Chipotle stock rises after earnings edge past estimates

Chipotle Mexican Grill Stock Up 2.4%

Shares of NYSE CMG opened at $34.32 on Thursday. The company has a market capitalization of $44.02 billion, a PE ratio of 31.49, a P/E/G ratio of 2.19 and a beta of 0.97. Chipotle Mexican Grill, Inc. has a twelve month low of $28.03 and a twelve month high of $44.54. The firm has a fifty day simple moving average of $32.65 and a 200 day simple moving average of $34.61.

Chipotle Mexican Grill (NYSE:CMG) last issued its quarterly earnings results on Wednesday, July 29th. The restaurant operator reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.01. Chipotle Mexican Grill had a return on equity of 49.64% and a net margin of 11.96%.The firm had revenue of $3.35 billion during the quarter, compared to the consensus estimate of $3.33 billion. During the same period last year, the business posted $0.33 EPS. The business’s revenue was up 9.3% compared to the same quarter last year. As a group, equities analysts expect that Chipotle Mexican Grill, Inc. will post 1.13 earnings per share 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.