Renaissance Technologies LLC Acquires 682,600 Shares of Chipotle Mexican Grill, Inc. $CMG

Renaissance Technologies LLC boosted its holdings in Chipotle Mexican Grill, Inc. (NYSE:CMG) by 309.6% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 903,100 shares of the restaurant operator’s stock after purchasing an additional 682,600 shares during the quarter. Renaissance Technologies LLC owned 0.07% of Chipotle Mexican Grill worth $28,908,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Chipotle Mexican Grill by 14.8% in the fourth quarter. Vanguard Group Inc. now owns 144,588,220 shares of the restaurant operator’s stock valued at $5,349,764,000 after buying an additional 18,660,882 shares in the last quarter. Capital World Investors boosted its stake in shares of Chipotle Mexican Grill by 15.8% in the fourth quarter. Capital World Investors now owns 101,688,010 shares of the restaurant operator’s stock valued at $3,762,457,000 after buying an additional 13,843,222 shares during the period. Price T Rowe Associates Inc. MD grew its position in Chipotle Mexican Grill by 18.8% during the fourth 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 buying an additional 9,237,720 shares in the last quarter. Capital International Investors grew its position 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 worth $1,675,895,000 after buying an additional 6,796,285 shares in the last quarter. Finally, Norges Bank bought a new position in Chipotle Mexican Grill during the 4th quarter worth $711,837,000. Institutional investors own 91.30% of the company’s stock.

Analyst Ratings Changes

CMG has been the subject of several analyst reports. Morgan Stanley set a $37.00 price objective on Chipotle Mexican Grill and gave the company an “equal weight” rating in a report on Wednesday, June 3rd. Guggenheim reduced their target price on Chipotle Mexican Grill from $36.00 to $35.00 and set a “neutral” rating on the stock in a report on Friday, May 1st. BNP Paribas Exane raised their price target on Chipotle Mexican Grill from $37.00 to $39.00 and gave the stock a “neutral” rating in a research report on Thursday, April 30th. Piper Sandler dropped their price target on Chipotle Mexican Grill from $44.00 to $42.00 and set an “overweight” rating for the company in a research note on Thursday, April 30th. Finally, Barclays cut their price objective on shares of 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. Twenty-three investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Chipotle Mexican Grill presently has a consensus rating of “Moderate Buy” and a consensus target price of $43.86.

Chipotle Mexican Grill Price Performance

Shares of CMG opened at $33.55 on Wednesday. The firm has a 50 day simple moving average of $32.62 and a two-hundred day simple moving average of $34.64. Chipotle Mexican Grill, Inc. has a one year low of $28.03 and a one year high of $44.83. The company has a market cap of $43.03 billion, a P/E ratio of 30.78, a P/E/G ratio of 2.17 and a beta of 0.97.

Chipotle Mexican Grill (NYSE:CMG) last issued its earnings results on Wednesday, April 29th. The restaurant operator reported $0.24 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.24. Chipotle Mexican Grill had a return on equity of 49.64% and a net margin of 11.96%.The firm had revenue of $3.09 billion for the quarter, compared to the consensus estimate of $3.07 billion. During the same quarter last year, the business posted $0.29 EPS. The company’s revenue was up 7.4% compared to the same quarter last year. On average, analysts expect that Chipotle Mexican Grill, Inc. will post 1.13 earnings per share for the current fiscal year.

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.