NewEdge Wealth LLC Buys New Shares in Chipotle Mexican Grill, Inc. $CMG

NewEdge Wealth LLC bought a new position in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 19,516 shares of the restaurant operator’s stock, valued at approximately $664,000.

Several other large investors have also recently bought and sold shares of CMG. BlackRock Inc. acquired a new position in shares of Chipotle Mexican Grill during the 2nd quarter worth approximately $4,417,475,000. Norges Bank bought a new stake in shares of Chipotle Mexican Grill during the 4th quarter worth approximately $711,837,000. Vanguard Group Inc. boosted its holdings in shares of Chipotle Mexican Grill by 14.8% in 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 buying an additional 18,660,882 shares during the last quarter. Capital World Investors boosted its holdings in shares of Chipotle Mexican Grill by 15.8% in the 4th 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 last quarter. Finally, Clearbridge Investments LLC grew its stake 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 buying an additional 9,473,120 shares in the last quarter. 91.30% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CMG has been the topic of a number of recent analyst reports. TD Cowen restated a “buy” rating and set a $44.00 target price on shares of Chipotle Mexican Grill in a report on Thursday, July 30th. Weiss Ratings upgraded shares of Chipotle Mexican Grill from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, August 7th. DA Davidson lifted their price objective on shares of Chipotle Mexican Grill from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. Piper Sandler lowered their price objective on shares of Chipotle Mexican Grill from $42.00 to $39.00 and set an “overweight” rating on the stock in a research note on Thursday, July 30th. Finally, Raymond James Financial reaffirmed an “outperform” rating and issued a $42.50 target price on shares of Chipotle Mexican Grill in a report on Thursday, July 30th. Twenty-four investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat, Chipotle Mexican Grill presently has a consensus rating of “Moderate Buy” and an average target price of $44.16.

Chipotle Mexican Grill Trading Up 4.4%

CMG opened at $36.84 on Friday. Chipotle Mexican Grill, Inc. has a 1-year low of $28.03 and a 1-year high of $43.72. The stock’s fifty day simple moving average is $33.80 and its 200 day simple moving average is $33.99. The stock has a market cap of $46.62 billion, a PE ratio of 33.80, a price-to-earnings-growth ratio of 2.35 and a beta of 0.94.

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

About Chipotle Mexican Grill

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.