506,165 Shares in Chipotle Mexican Grill, Inc. $CMG Purchased by Magellan Asset Management Ltd

Magellan Asset Management Ltd bought a new stake in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 506,165 shares of the restaurant operator’s stock, valued at approximately $17,210,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CMG. Vanguard Group Inc. grew its holdings in Chipotle Mexican Grill by 14.8% during the 4th quarter. Vanguard Group Inc. now owns 144,588,220 shares of the restaurant operator’s stock valued at $5,349,764,000 after buying an additional 18,660,882 shares in the last quarter. BlackRock Inc. bought a new position in shares of Chipotle Mexican Grill during the second quarter worth $4,417,475,000. Capital World Investors grew its stake in Chipotle Mexican Grill by 15.8% during the fourth quarter. Capital World Investors now owns 101,688,010 shares of the restaurant operator’s stock valued at $3,762,457,000 after acquiring an additional 13,843,222 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in Chipotle Mexican Grill by 18.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 58,447,867 shares of the restaurant operator’s stock valued at $2,162,572,000 after acquiring an additional 9,237,720 shares in the last quarter. Finally, Capital International Investors increased its holdings in Chipotle Mexican Grill by 17.7% in the 4th quarter. Capital International Investors now owns 45,294,212 shares of the restaurant operator’s stock valued at $1,675,895,000 after acquiring an additional 6,796,285 shares during the last quarter. 91.30% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Barclays dropped their price objective on shares of Chipotle Mexican Grill from $40.00 to $38.00 and set an “equal weight” rating for the company in a report on Thursday, April 30th. Evercore reaffirmed an “outperform” rating and issued a $47.00 price target on shares of Chipotle Mexican Grill in a report on Thursday, July 30th. Mizuho lifted their price target on Chipotle Mexican Grill from $40.00 to $41.00 and gave the stock an “outperform” rating in a research report on Monday, July 13th. BNP Paribas Exane boosted their price objective on Chipotle Mexican Grill from $37.00 to $39.00 and gave the stock a “neutral” rating in a research note on Thursday, April 30th. Finally, Raymond James Financial restated an “outperform” rating and set a $42.50 price objective on shares of Chipotle Mexican Grill in a research report on Thursday, July 30th. Twenty-four analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $44.16.

Chipotle Mexican Grill Trading Down 0.2%

Shares of CMG opened at $36.84 on Monday. The company’s fifty day simple moving average is $33.80 and its 200-day simple moving average is $33.96. The company has a market cap of $46.62 billion, a P/E ratio of 33.80, a P/E/G ratio of 2.35 and a beta of 0.94. Chipotle Mexican Grill, Inc. has a twelve month low of $28.03 and a twelve month high of $43.72.

Chipotle Mexican Grill (NYSE:CMG) last released its quarterly earnings results on Wednesday, July 29th. The restaurant operator reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.01. The firm had revenue of $3.35 billion during the quarter, compared to analysts’ expectations of $3.33 billion. Chipotle Mexican Grill had a net margin of 11.43% and a return on equity of 54.65%. The firm’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.33 EPS. Analysts predict that Chipotle Mexican Grill, Inc. will post 1.14 earnings per share for the current fiscal 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.