Westpac Banking Corp Acquires New Holdings in Chipotle Mexican Grill, Inc. $CMG

Westpac Banking Corp bought a new stake in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG) in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm bought 113,223 shares of the restaurant operator’s stock, valued at approximately $3,850,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wealth Watch Advisors INC acquired a new stake in Chipotle Mexican Grill during the 3rd quarter valued at $25,000. MV Capital Management Inc. acquired a new position in shares of Chipotle Mexican Grill in the fourth quarter worth $26,000. Osbon Capital Management LLC acquired a new position in shares of Chipotle Mexican Grill in the fourth quarter worth $28,000. Meeder Asset Management Inc. purchased a new stake in shares of Chipotle Mexican Grill in the second quarter valued at $27,000. Finally, Kelleher Financial Advisors acquired a new stake in shares of Chipotle Mexican Grill during the second quarter valued at $28,000. Institutional investors and hedge funds own 91.30% of the company’s stock.

Wall Street Analyst Weigh In

CMG has been the subject of a number of recent research reports. Barclays dropped their price objective on Chipotle Mexican Grill from $40.00 to $38.00 and set an “equal weight” rating for the company in a research report on Thursday, April 30th. Morgan Stanley raised their price target on shares of Chipotle Mexican Grill from $37.00 to $39.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 30th. Sanford C. Bernstein reiterated an “outperform” rating on shares of Chipotle Mexican Grill in a report on Friday, July 31st. Citigroup cut their price objective on shares of Chipotle Mexican Grill from $46.00 to $45.00 and set a “buy” rating for the company in a research report on Monday, July 13th. Finally, Weiss Ratings raised shares of Chipotle Mexican Grill from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, August 7th. Twenty-four analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $44.16.

Chipotle Mexican Grill Price Performance

Shares of NYSE:CMG opened at $36.84 on Friday. The business has a 50-day moving average of $33.80 and a two-hundred day moving average of $33.99. The firm has a market capitalization of $46.62 billion, a PE ratio of 33.80, a P/E/G ratio of 2.25 and a beta of 0.94. Chipotle Mexican Grill, Inc. has a 12 month low of $28.03 and a 12 month high of $43.72.

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

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.