Folger Nolan Fleming Douglas Capital Management Inc. Buys New Position in Chipotle Mexican Grill, Inc. $CMG

Folger Nolan Fleming Douglas Capital Management Inc. bought a new stake in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 3,900 shares of the restaurant operator’s stock, valued at approximately $219,000.

Several other hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of Chipotle Mexican Grill by 1.3% during the first quarter. Vanguard Group Inc. now owns 122,463,327 shares of the restaurant operator’s stock valued at $6,148,884,000 after buying an additional 1,597,287 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Chipotle Mexican Grill by 7.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 56,827,332 shares of the restaurant operator’s stock valued at $2,853,302,000 after buying an additional 4,027,016 shares during the last quarter. Alliancebernstein L.P. boosted its position in shares of Chipotle Mexican Grill by 8.0% during the first quarter. Alliancebernstein L.P. now owns 32,505,318 shares of the restaurant operator’s stock valued at $1,632,092,000 after buying an additional 2,404,798 shares during the last quarter. American Century Companies Inc. boosted its position in shares of Chipotle Mexican Grill by 2.1% during the first quarter. American Century Companies Inc. now owns 20,662,628 shares of the restaurant operator’s stock valued at $1,037,471,000 after buying an additional 425,648 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Chipotle Mexican Grill by 8.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 11,111,416 shares of the restaurant operator’s stock valued at $557,904,000 after buying an additional 833,760 shares during the last quarter. Hedge funds and other institutional investors own 91.30% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on CMG. BTIG Research reaffirmed a “buy” rating and set a $57.00 target price on shares of Chipotle Mexican Grill in a research report on Friday, September 5th. Evercore ISI cut their price objective on Chipotle Mexican Grill from $57.00 to $53.00 and set an “outperform” rating on the stock in a research report on Tuesday. Piper Sandler raised Chipotle Mexican Grill from a “neutral” rating to an “overweight” rating and cut their price objective for the stock from $53.00 to $50.00 in a research report on Tuesday, August 12th. TD Cowen reissued a “buy” rating and issued a $58.00 price objective on shares of Chipotle Mexican Grill in a research report on Friday, September 19th. Finally, Stifel Nicolaus dropped their price target on Chipotle Mexican Grill from $65.00 to $60.00 and set a “buy” rating on the stock in a research report on Tuesday, September 9th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $58.93.

Chipotle Mexican Grill Stock Performance

Shares of CMG opened at $39.86 on Friday. The stock’s 50-day simple moving average is $41.18 and its 200 day simple moving average is $47.65. The stock has a market capitalization of $53.45 billion, a price-to-earnings ratio of 35.59, a price-to-earnings-growth ratio of 2.09 and a beta of 0.99. Chipotle Mexican Grill, Inc. has a 52-week low of $38.30 and a 52-week high of $66.74.

Chipotle Mexican Grill (NYSE:CMG) last issued its quarterly earnings data on Wednesday, July 23rd. The restaurant operator reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.01. The business had revenue of $3.06 billion for the quarter, compared to analysts’ expectations of $3.11 billion. Chipotle Mexican Grill had a return on equity of 43.50% and a net margin of 13.32%.The firm’s quarterly revenue was up 3.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.34 EPS. On average, research analysts forecast that Chipotle Mexican Grill, Inc. will post 1.29 earnings per share for the current fiscal year.

Chipotle Mexican Grill Company Profile

Chipotle Mexican Grill, Inc, together with its subsidiaries, owns and operates Chipotle Mexican Grill restaurants. It sells food and beverages through offering burritos, burrito bowls, quesadillas, tacos, and salads. The company also provides delivery and related services its app and website. It has operations in the United States, Canada, France, Germany, and the United Kingdom.