Polar Asset Management Partners Inc. Takes $4.22 Million Position in Chipotle Mexican Grill, Inc. $CMG

Polar Asset Management Partners Inc. bought a new position in Chipotle Mexican Grill, Inc. (NYSE:CMG) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 124,146 shares of the restaurant operator’s stock, valued at approximately $4,221,000.

A number of other hedge funds also recently made changes to their positions in CMG. Wealth Watch Advisors INC purchased a new position in Chipotle Mexican Grill during the 3rd quarter valued at approximately $25,000. MV Capital Management Inc. purchased a new stake in shares of Chipotle Mexican Grill during the 4th quarter worth approximately $26,000. Osbon Capital Management LLC purchased a new stake in shares of Chipotle Mexican Grill during the 2nd quarter worth approximately $26,000. Meeder Asset Management Inc. bought a new position in shares of Chipotle Mexican Grill during the 2nd quarter valued at approximately $27,000. Finally, Merkkuri Wealth Advisors LLC bought a new position in shares of Chipotle Mexican Grill during the 1st quarter valued at approximately $28,000. 91.30% of the stock is currently owned by hedge funds and other institutional investors.

Chipotle Mexican Grill Stock Down 1.4%

Shares of CMG opened at $37.50 on Wednesday. The business has a fifty day moving average of $34.01 and a 200 day moving average of $33.94. The company has a market cap of $47.45 billion, a PE ratio of 34.40, a P/E/G ratio of 2.42 and a beta of 0.94. Chipotle Mexican Grill, Inc. has a 52-week low of $28.03 and a 52-week high of $43.13.

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

Key Headlines Impacting Chipotle Mexican Grill

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

• Positive Sentiment: Chipotle launched a new “Every Win Tastes Better” promotion with tennis player Taylor Fritz, offering BOGO entrées after his U.S. Open victories. The campaign follows record redemptions from the company’s back-to-school promotion and could support restaurant traffic, digital engagement and near-term sales. Chipotle Taylor Fritz promotion
• Positive Sentiment: Investors remain encouraged by Chipotle’s digital initiatives, menu innovation and unit-expansion plans, which could provide longer-term revenue growth and help explain the stock’s recent strength. Chipotle growth outlook
• Neutral Sentiment: CMG continued to rise despite a Baird downgrade because the firm’s Neutral rating still carries a $40 price target, while recent momentum and promotional activity appear to be outweighing the more cautious analyst view. Chipotle stock gains after downgrade
• Negative Sentiment: Baird lowered its rating to Neutral and cut its price target to $40 from $44, arguing that Chipotle may need to spend considerably more to generate slower sales growth. Rising labor, marketing and operating costs could pressure margins and limit valuation upside. Baird Chipotle downgrade
• Negative Sentiment: Insider Matthew R. Bush sold 2,675 shares worth approximately $95,631, reducing his direct stake by 11.1%. The transaction may modestly weigh on sentiment, although one insider sale does not necessarily signal deteriorating business conditions. SEC insider filing

Insiders Place Their Bets

In related news, insider Matthew R. Bush sold 2,675 shares of the stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $35.75, for a total value of $95,631.25. Following the sale, the insider directly owned 21,415 shares of the company’s stock, valued at $765,586.25. This represents a 11.10% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.45% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

CMG has been the topic of several research reports. Royal Bank Of Canada restated an “outperform” rating and issued a $45.00 price target on shares of Chipotle Mexican Grill in a research report on Thursday, April 30th. JPMorgan Chase & Co. upgraded shares of Chipotle Mexican Grill from a “neutral” rating to an “overweight” rating and lowered their price objective for the company from $38.00 to $35.00 in a research report on Friday, June 5th. Citigroup reduced their target price on shares of Chipotle Mexican Grill from $46.00 to $45.00 and set a “buy” rating on the stock in a report on Monday, July 13th. Weiss Ratings upgraded shares of Chipotle Mexican Grill from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, August 7th. Finally, Raymond James Financial reaffirmed an “outperform” rating and issued a $42.50 price target on shares of Chipotle Mexican Grill in a report on Thursday, July 30th. Twenty-three research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat, Chipotle Mexican Grill presently has an average rating of “Moderate Buy” and a consensus target price of $43.84.

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.