QRG Capital Management Inc. Raises Stock Holdings in Chipotle Mexican Grill, Inc. $CMG

QRG Capital Management Inc. lifted its stake in Chipotle Mexican Grill, Inc. (NYSE:CMG) by 26.1% during the 1st quarter, Holdings Channel reports. The institutional investor owned 119,255 shares of the restaurant operator’s stock after purchasing an additional 24,654 shares during the quarter. QRG Capital Management Inc.’s holdings in Chipotle Mexican Grill were worth $3,817,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in CMG. Vanguard Group Inc. grew its stake in shares of Chipotle Mexican Grill by 14.8% during the 4th quarter. Vanguard Group Inc. now owns 144,588,220 shares of the restaurant operator’s stock valued at $5,349,764,000 after acquiring an additional 18,660,882 shares during the period. Capital World Investors raised its stake in Chipotle Mexican Grill by 15.8% during the 4th quarter. Capital World Investors now owns 101,688,010 shares of the restaurant operator’s stock worth $3,762,457,000 after acquiring an additional 13,843,222 shares during the period. Price T Rowe Associates Inc. MD raised its stake in Chipotle Mexican Grill by 18.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 58,447,867 shares of the restaurant operator’s stock worth $2,162,572,000 after acquiring an additional 9,237,720 shares during the period. Capital International Investors lifted its holdings in Chipotle Mexican Grill by 17.7% during the fourth quarter. Capital International Investors now owns 45,294,212 shares of the restaurant operator’s stock valued at $1,675,895,000 after purchasing an additional 6,796,285 shares in the last quarter. Finally, Norges Bank purchased a new position in Chipotle Mexican Grill during the fourth quarter valued at approximately $711,837,000. 91.30% of the stock is owned by hedge funds and other institutional investors.

Chipotle Mexican Grill Price Performance

CMG stock opened at $35.37 on Monday. Chipotle Mexican Grill, Inc. has a 1-year low of $28.03 and a 1-year high of $57.25. The company has a market capitalization of $45.37 billion, a price-to-earnings ratio of 32.45, a PEG ratio of 2.29 and a beta of 0.97. The business has a 50 day simple moving average of $32.28 and a two-hundred day simple moving average of $35.07.

Chipotle Mexican Grill (NYSE:CMG) last announced its quarterly earnings data on Wednesday, April 29th. The restaurant operator reported $0.24 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.24. The business had revenue of $3.09 billion during the quarter, compared to analyst estimates of $3.07 billion. Chipotle Mexican Grill had a net margin of 11.96% and a return on equity of 49.64%. The company’s revenue was up 7.4% on a year-over-year basis. During the same period last year, the firm posted $0.29 EPS. Sell-side analysts anticipate that Chipotle Mexican Grill, Inc. will post 1.13 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on CMG shares. Royal Bank Of Canada reiterated an “outperform” rating and issued a $45.00 price target on shares of Chipotle Mexican Grill in a research report on Thursday, April 30th. Stephens raised their price objective on shares of Chipotle Mexican Grill from $38.00 to $39.00 and gave the company an “equal weight” rating in a research report on Thursday, April 30th. Zacks Research upgraded shares of Chipotle Mexican Grill from a “strong sell” rating to a “hold” rating in a research note on Friday, April 17th. Guggenheim dropped their target price on shares of Chipotle Mexican Grill from $36.00 to $35.00 and set a “neutral” rating for the company in a report on Friday, May 1st. Finally, JPMorgan Chase & Co. upgraded Chipotle Mexican Grill from a “neutral” rating to an “overweight” rating and cut their price target for the stock from $38.00 to $35.00 in a research note on Friday, June 5th. Twenty-three analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to MarketBeat, Chipotle Mexican Grill presently has a consensus rating of “Moderate Buy” and a consensus price target of $45.10.

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.