Korea Investment CORP Invests $24.54 Million in Chipotle Mexican Grill, Inc. $CMG

Korea Investment CORP purchased a new stake in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 721,628 shares of the restaurant operator’s stock, valued at approximately $24,535,000.

A number of other hedge funds and other institutional investors have also modified their holdings of CMG. Wealth Watch Advisors INC acquired a new position in Chipotle Mexican Grill during the third quarter worth $25,000. MV Capital Management Inc. bought a new position in Chipotle Mexican Grill during the fourth quarter valued at about $26,000. Osbon Capital Management LLC acquired a new stake in shares of Chipotle Mexican Grill in the fourth quarter worth about $28,000. Meeder Asset Management Inc. acquired a new stake in shares of Chipotle Mexican Grill in the second quarter worth about $27,000. Finally, Kelleher Financial Advisors acquired a new stake in shares of Chipotle Mexican Grill in the second quarter worth about $28,000. Institutional investors own 91.30% of the company’s stock.

Chipotle Mexican Grill Stock Performance

Chipotle Mexican Grill stock opened at $36.84 on Monday. Chipotle Mexican Grill, Inc. has a 52 week low of $28.03 and a 52 week high of $43.72. The firm has a market capitalization of $46.62 billion, a PE ratio of 33.80, a PEG ratio of 2.35 and a beta of 0.94. The business’s 50-day simple moving average is $33.80 and its 200-day simple moving average is $33.96.

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

Wall Street Analyst Weigh In

CMG has been the topic of a number of analyst reports. Evercore reissued an “outperform” rating and set a $47.00 price objective on shares of Chipotle Mexican Grill in a report on Thursday, July 30th. Guggenheim restated a “neutral” rating and issued a $36.00 target price (up from $35.00) on shares of Chipotle Mexican Grill in a report on Friday, July 31st. Sanford C. Bernstein restated an “outperform” rating on shares of Chipotle Mexican Grill in a report on Friday, July 31st. UBS Group reaffirmed a “buy” rating on shares of Chipotle Mexican Grill in a research report on Friday, July 31st. Finally, Stephens reiterated a “positive” rating and set a $40.00 price target (up from $36.00) on shares of Chipotle Mexican Grill in a report on Thursday, July 30th. Twenty-four equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, Chipotle Mexican Grill presently has a consensus rating of “Moderate Buy” and a consensus target price of $44.16.

About Chipotle Mexican Grill

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.