7,070,279 Shares in Chipotle Mexican Grill, Inc. $CMG Bought by Man Group plc

Man Group plc bought a new stake in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 7,070,279 shares of the restaurant operator’s stock, valued at approximately $240,389,000. Man Group plc owned approximately 0.56% of Chipotle Mexican Grill as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Wealth Watch Advisors INC purchased a new position in shares of Chipotle Mexican Grill during the third quarter valued at about $25,000. MV Capital Management Inc. bought a new stake in shares of Chipotle Mexican Grill in the fourth quarter worth about $26,000. Osbon Capital Management LLC purchased a new stake in shares of Chipotle Mexican Grill in the second quarter worth about $26,000. Meeder Asset Management Inc. bought a new position in Chipotle Mexican Grill during the second quarter valued at approximately $27,000. Finally, Merkkuri Wealth Advisors LLC bought a new position in Chipotle Mexican Grill during the first quarter valued at approximately $28,000. 91.30% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Evercore reaffirmed an “outperform” rating and issued a $47.00 price objective on shares of Chipotle Mexican Grill in a research note on Thursday, July 30th. Robert W. Baird reiterated a “neutral” rating and set a $40.00 target price (down from $44.00) on shares of Chipotle Mexican Grill in a research report on Monday. JPMorgan Chase & Co. raised shares of Chipotle Mexican Grill from a “neutral” rating to an “overweight” rating and cut their target price for the company from $38.00 to $35.00 in a report on Friday, June 5th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $45.00 price target on shares of Chipotle Mexican Grill in a research note on Thursday, April 30th. Finally, Citigroup lowered 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. Twenty-three investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $43.84.

Insiders Place Their Bets

In other news, insider Matthew R. Bush sold 2,675 shares of the stock in a transaction on Friday, August 21st. The shares were sold at an average price of $35.75, for a total value of $95,631.25. Following the sale, the insider owned 21,415 shares of the company’s stock, valued at approximately $765,586.25. This represents a 11.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.45% of the stock is owned by company insiders.

Key Chipotle Mexican Grill News

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

• Positive Sentiment: Chipotle launched a new “Every Win Tastes Better” promotion with tennis player Taylor Fritz, offering BOGO entrées after his U.S. Open victories. The campaign follows record redemptions from the company’s back-to-school promotion and could support restaurant traffic, digital engagement and near-term sales. Chipotle Taylor Fritz promotion
• Positive Sentiment: Investors remain encouraged by Chipotle’s digital initiatives, menu innovation and unit-expansion plans, which could provide longer-term revenue growth and help explain the stock’s recent strength. Chipotle growth outlook
• Neutral Sentiment: CMG continued to rise despite a Baird downgrade because the firm’s Neutral rating still carries a $40 price target, while recent momentum and promotional activity appear to be outweighing the more cautious analyst view. Chipotle stock gains after downgrade
• Negative Sentiment: Baird lowered its rating to Neutral and cut its price target to $40 from $44, arguing that Chipotle may need to spend considerably more to generate slower sales growth. Rising labor, marketing and operating costs could pressure margins and limit valuation upside. Baird Chipotle downgrade
• Negative Sentiment: Insider Matthew R. Bush sold 2,675 shares worth approximately $95,631, reducing his direct stake by 11.1%. The transaction may modestly weigh on sentiment, although one insider sale does not necessarily signal deteriorating business conditions. SEC insider filing

Chipotle Mexican Grill Stock Performance

NYSE CMG opened at $37.50 on Wednesday. The business’s 50 day moving average price is $34.01 and its 200-day moving average price is $33.94. Chipotle Mexican Grill, Inc. has a fifty-two week low of $28.03 and a fifty-two week high of $43.13. The company has a market cap of $47.45 billion, a P/E ratio of 34.40, a P/E/G ratio of 2.42 and a beta of 0.94.

Chipotle Mexican Grill (NYSE:CMG) last issued its quarterly earnings results on Wednesday, July 29th. The restaurant operator reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.01. The company 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%.Chipotle Mexican Grill’s revenue was up 9.3% on a year-over-year basis. During the same period last year, the company earned $0.33 earnings per share. As a group, equities analysts predict that Chipotle Mexican Grill, Inc. will post 1.14 EPS 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.