Chipotle Mexican Grill, Inc. $CMG Stock: Rakuten Investment Management Inc. Increases Position

Rakuten Investment Management Inc. lifted its stake in Chipotle Mexican Grill, Inc. (NYSE:CMG) by 8.2% in the 3rd quarter, Holdings Channel reports. The firm owned 229,281 shares of the restaurant operator’s stock after purchasing an additional 17,358 shares during the quarter. Rakuten Investment Management Inc.’s holdings in Chipotle Mexican Grill were worth $7,309,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CMG. BlackRock Inc. purchased a new stake in Chipotle Mexican Grill during the second quarter worth about $4,417,475,000. Arrowstreet Capital Limited Partnership grew its position in Chipotle Mexican Grill by 19.8% during the first quarter. Arrowstreet Capital Limited Partnership now owns 16,478,248 shares of the restaurant operator’s stock worth $527,469,000 after buying an additional 2,727,762 shares during the period. Amundi increased its holdings in Chipotle Mexican Grill by 23.3% in the first quarter. Amundi now owns 11,980,192 shares of the restaurant operator’s stock valued at $383,486,000 after buying an additional 2,266,087 shares in the last quarter. Bank of America Corp DE purchased a new position in Chipotle Mexican Grill in the second quarter valued at about $383,483,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Chipotle Mexican Grill by 30.6% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,845,627 shares of the restaurant operator’s stock valued at $368,751,000 after buying an additional 2,541,795 shares in the last quarter. Institutional investors and hedge funds own 91.30% of the company’s stock.

Chipotle Mexican Grill Price Performance

CMG stock opened at $35.38 on Friday. The company’s 50 day simple moving average is $32.81 and its 200-day simple moving average is $34.01. Chipotle Mexican Grill, Inc. has a 12 month low of $27.31 and a 12 month high of $41.42. The firm has a market capitalization of $44.75 billion, a PE ratio of 33.06, a P/E/G ratio of 2.32 and a beta of 1.00.

Chipotle Mexican Grill (NYSE:CMG) last issued its quarterly earnings data on Wednesday, October 28th. The restaurant operator reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.02). Chipotle Mexican Grill had a return on equity of 57.05% and a net margin of 10.83%. The company had revenue of $3.29 billion for the quarter, compared to analyst estimates of $3.29 billion. During the same quarter in the prior year, the firm earned $0.29 earnings per share. The company’s revenue for the quarter was up 9.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Chipotle Mexican Grill, Inc. will post 1.10 earnings per share for the current year.

Insider Buying and Selling

In other Chipotle Mexican Grill news, insider Matthew R. Bush sold 2,675 shares of the stock in a transaction on Friday, August 21st. The stock was sold at an average price of $35.75, for a total transaction of $95,631.25. Following the sale, the insider owned 21,415 shares in the company, valued at approximately $765,586.25. This represents a 11.10% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.45% of the company’s stock.

Key Headlines Impacting Chipotle Mexican Grill

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

• Positive Sentiment: Chipotle is bringing back its popular smoked brisket in an effort to attract customers and lift fall traffic. The menu item could provide a near-term sales boost, though the impact is not yet known. Chipotle looks to drive traffic with the return of its popular smoked brisket
• Positive Sentiment: Chipotle recorded its third consecutive quarter of comparable-store sales growth, with revenue up 9.6% year over year in the latest quarter. Analysts also point to positive traffic trends as evidence of progress. Should Investors Buy Into the Chipotle Turnaround?
• Neutral Sentiment: Chipotle has attracted heightened investor attention, but the articles about search interest do not identify a new business development or a clear price catalyst. Investors Heavily Search Chipotle Mexican Grill, Inc. (CMG): Here is What You Need to Know
• Negative Sentiment: Rising costs and inflation are squeezing margins and weakening earnings power. Chipotle’s latest quarterly EPS of $0.27 missed the $0.29 consensus, while revenue was in line with estimates. The stock’s premium valuation adds to investor caution. Should You Buy, Sell or Hold Chipotle Stock Post Q3 Earnings?

Wall Street Analyst Weigh In

CMG has been the subject of a number of research reports. TD Cowen reiterated a “hold” rating and set a $32.00 price target on shares of Chipotle Mexican Grill in a research report on Thursday, October 29th. Gordon Haskett lowered their price target on Chipotle Mexican Grill from $42.00 to $36.00 and set a “hold” rating on the stock in a report on Monday, October 19th. BMO Capital Markets restated an “outperform” rating and issued a $50.00 price target on shares of Chipotle Mexican Grill in a report on Thursday, October 29th. Oppenheimer reaffirmed an “outperform” rating and issued a $51.00 price objective on shares of Chipotle Mexican Grill in a research note on Thursday, October 29th. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating and set a $43.00 price objective (down from $50.00) on shares of Chipotle Mexican Grill in a report on Thursday, October 29th. Twenty-seven research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Chipotle Mexican Grill currently has a consensus rating of “Moderate Buy” and a consensus price target of $42.36.

About Chipotle Mexican Grill

Chipotle Mexican Grill, Inc (NYSE: CMG) operates a chain of fast-casual restaurants focused on Mexican-inspired food. Its menu includes burritos, burrito bowls, tacos, quesadillas and salads, with options such as chicken, steak, barbacoa, carnitas, sofritas and vegetables. The company emphasizes preparing food in its restaurants from ingredients it describes as responsibly sourced, including meats raised with attention to animal welfare and produce from selected suppliers.

Founded by Steve Ells in 1993, Chipotle opened its first restaurant in Denver, Colorado.