Lazard Asset Management LLC Takes Position in Chipotle Mexican Grill, Inc. $CMG

Lazard Asset Management LLC purchased a new stake in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 20,480 shares of the restaurant operator’s stock, valued at approximately $656,000.

Several other institutional investors and hedge funds also recently bought and sold shares of CMG. Norges Bank bought a new stake in Chipotle Mexican Grill during the 4th quarter valued at $711,837,000. Vanguard Group Inc. grew 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 purchasing an additional 18,660,882 shares in the last quarter. Capital World Investors grew its position 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 purchasing an additional 13,843,222 shares in the last quarter. Clearbridge Investments LLC grew its position in shares of Chipotle Mexican Grill by 206.4% in the fourth quarter. Clearbridge Investments LLC now owns 14,062,158 shares of the restaurant operator’s stock valued at $520,300,000 after purchasing an additional 9,473,120 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its stake in shares of 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 valued at $2,162,572,000 after purchasing an additional 9,237,720 shares during the period. 91.30% of the stock is owned by institutional investors.

Chipotle Mexican Grill Stock Performance

Shares of CMG stock opened at $33.72 on Friday. The company has a market capitalization of $42.67 billion, a PE ratio of 30.94, a price-to-earnings-growth ratio of 2.20 and a beta of 0.94. Chipotle Mexican Grill, Inc. has a 52-week low of $28.03 and a 52-week high of $44.27. The business’s fifty day moving average is $33.04 and its 200 day moving average is $34.43.

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

Trending Headlines about Chipotle Mexican Grill

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

• Positive Sentiment: Analyst support remains intact. BTIG reaffirmed its “buy” rating with a $45 price target, while Argus also raised its target to $45, indicating analysts see substantial long-term upside if the outbreak is contained. BTIG rating update Argus price target update
• Positive Sentiment: Chipotle recently reported a quarterly earnings and revenue beat, with comparable sales returning to growth, supported by new menu items and a revamped rewards program. Chipotle quarterly performance analysis
• Neutral Sentiment: Chipotle removed jalapeños from affected Minnesota restaurants, switched to an alternative supplier and is cooperating with health authorities. Management said its previously issued annual targets do not include any financial impact from the outbreak, leaving potential revisions uncertain. Chipotle annual targets and outbreak
• Negative Sentiment: The CDC has linked the outbreak to jalapeños served at Chipotle and other restaurants across 27 states. Reports of hundreds of illnesses are increasing concerns about potential legal costs, restaurant disruption, supplier scrutiny and damage to the brand’s food-safety reputation. Salmonella outbreak linked to Mexican jalapeños Chipotle stock and Salmonella outbreak
• Negative Sentiment: Investors are also questioning Chipotle’s valuation because higher food and labor costs have compressed restaurant-level margins and reduced net income and EPS, despite sales growth. A premium earnings multiple leaves less room for execution or reputational setbacks. Chipotle valuation and margin analysis

Analysts Set New Price Targets

A number of brokerages recently issued reports on CMG. Guggenheim reissued a “neutral” rating and set a $36.00 price objective (up from $35.00) on shares of Chipotle Mexican Grill in a report on Friday, July 31st. Citigroup reduced their target price on Chipotle Mexican Grill from $46.00 to $45.00 and set a “buy” rating for the company in a report on Monday, July 13th. Mizuho upped their price target on Chipotle Mexican Grill from $40.00 to $41.00 and gave the company an “outperform” rating in a research report on Monday, July 13th. JPMorgan Chase & Co. raised shares of Chipotle Mexican Grill from a “neutral” rating to an “overweight” rating and lowered their price target for the stock from $38.00 to $35.00 in a report on Friday, June 5th. Finally, Zacks Research upgraded shares of Chipotle Mexican Grill from a “strong sell” rating to a “hold” rating in a research report on Friday, April 17th. Twenty-four analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $44.16.

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.