Equitable Holdings Inc. Takes Position in Chipotle Mexican Grill, Inc. $CMG

Equitable Holdings Inc. bought a new position in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 333,908 shares of the restaurant operator’s stock, valued at approximately $11,353,000.

A number of other institutional investors have also made changes to their positions in the business. EP Wealth Advisors LLC bought a new stake in shares of Chipotle Mexican Grill during the second quarter worth approximately $948,000. Callan Family Office LLC acquired a new stake in Chipotle Mexican Grill during the 2nd quarter worth approximately $1,406,000. Norges Bank bought a new stake in Chipotle Mexican Grill in the 4th quarter valued at $711,837,000. Focus Partners Advisor Solutions LLC grew its holdings in Chipotle Mexican Grill by 156.9% in the 4th quarter. Focus Partners Advisor Solutions LLC now owns 58,269 shares of the restaurant operator’s stock valued at $2,156,000 after buying an additional 35,589 shares in the last quarter. Finally, PensionDanmark Pensionsforsikringsaktieselskab increased its position in Chipotle Mexican Grill by 40.2% during the 2nd quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 268,771 shares of the restaurant operator’s stock worth $9,138,000 after buying an additional 77,002 shares during the period. 91.30% of the stock is owned by institutional investors and hedge funds.

Chipotle Mexican Grill Stock Down 0.3%

CMG stock opened at $37.24 on Friday. The company has a market cap of $47.13 billion, a PE ratio of 34.17, a price-to-earnings-growth ratio of 2.38 and a beta of 0.94. The business has a 50-day simple moving average of $34.21 and a 200 day simple moving average of $33.91. Chipotle Mexican Grill, Inc. has a 52 week low of $28.03 and a 52 week high of $42.81.

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

Insider Buying and Selling at Chipotle Mexican Grill

In other news, insider Matthew R. Bush sold 2,675 shares of the company’s stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $35.75, for a total transaction of $95,631.25. Following the completion of 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 position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.45% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Weiss Ratings raised shares of Chipotle Mexican Grill from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, August 7th. Evercore reissued an “outperform” rating and issued a $47.00 price objective on shares of Chipotle Mexican Grill in a report on Thursday, July 30th. Guggenheim restated a “neutral” rating and set a $36.00 target price (up from $35.00) on shares of Chipotle Mexican Grill in a research report on Friday, July 31st. TD Cowen reiterated a “buy” rating and issued a $44.00 price target on shares of Chipotle Mexican Grill in a research report on Thursday, July 30th. Finally, JPMorgan Chase & Co. upgraded Chipotle Mexican Grill from a “neutral” rating to an “overweight” rating and cut their price target for the company from $38.00 to $35.00 in a research note on Friday, June 5th. Twenty-three research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $43.84.

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.