M&T Bank Corp Increases Position in Chipotle Mexican Grill, Inc. (NYSE:CMG)

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M&T Bank Corp raised its position in Chipotle Mexican Grill, Inc. (NYSE:CMG) by 23.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,487 shares of the restaurant operator’s stock after purchasing an additional 1,049 shares during the quarter. M&T Bank Corp’s holdings in Chipotle Mexican Grill were worth $6,824,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. BlackRock Inc. raised its position in Chipotle Mexican Grill by 6.6% in the second quarter. BlackRock Inc. now owns 1,898,764 shares of the restaurant operator’s stock valued at $1,998,184,000 after purchasing an additional 116,852 shares during the period. Jennison Associates LLC raised its position in Chipotle Mexican Grill by 27.6% in the second quarter. Jennison Associates LLC now owns 929,608 shares of the restaurant operator’s stock valued at $978,282,000 after purchasing an additional 200,827 shares during the period. Wells Fargo & Company MN raised its position in Chipotle Mexican Grill by 28.9% in the third quarter. Wells Fargo & Company MN now owns 405,279 shares of the restaurant operator’s stock valued at $504,048,000 after purchasing an additional 90,884 shares during the period. FIL Ltd raised its position in Chipotle Mexican Grill by 113.3% in the second quarter. FIL Ltd now owns 243,596 shares of the restaurant operator’s stock valued at $256,351,000 after purchasing an additional 129,404 shares during the period. Finally, Winslow Capital Management LLC grew its stake in shares of Chipotle Mexican Grill by 8.9% in the second quarter. Winslow Capital Management LLC now owns 235,070 shares of the restaurant operator’s stock worth $247,379,000 after acquiring an additional 19,308 shares in the last quarter. 91.99% of the stock is currently owned by institutional investors.

Several equities analysts have commented on CMG shares. Piper Sandler restated an “overweight” rating and issued a $1,514.00 price target (up previously from $1,450.00) on shares of Chipotle Mexican Grill in a research note on Thursday, September 3rd. BTIG Research upped their target price on shares of Chipotle Mexican Grill from $1,375.00 to $1,450.00 and gave the company a “buy” rating in a report on Thursday, October 22nd. SunTrust Banks reissued an “outperform” rating and set a $1,165.00 price target on shares of Chipotle Mexican Grill in a report on Thursday, July 23rd. Credit Suisse Group increased their target price on shares of Chipotle Mexican Grill from $1,250.00 to $1,500.00 and gave the company an “outperform” rating in a report on Friday, October 16th. Finally, Truist dropped their target price on shares of Chipotle Mexican Grill from $1,580.00 to $1,520.00 in a report on Thursday, October 22nd. One analyst has rated the stock with a sell rating, seventeen have issued a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $1,297.14.

NYSE:CMG opened at $1,251.43 on Monday. The company has a market cap of $35.23 billion, a P/E ratio of 149.69, a P/E/G ratio of 5.45 and a beta of 1.43. Chipotle Mexican Grill, Inc. has a fifty-two week low of $415.00 and a fifty-two week high of $1,384.46. The firm’s 50 day moving average is $1,281.55 and its two-hundred day moving average is $1,149.96.

Chipotle Mexican Grill (NYSE:CMG) last posted its quarterly earnings results on Wednesday, October 21st. The restaurant operator reported $3.76 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.44 by $0.32. The company had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.59 billion. Chipotle Mexican Grill had a net margin of 4.08% and a return on equity of 16.70%. Chipotle Mexican Grill’s revenue was up 14.1% on a year-over-year basis. During the same quarter last year, the firm posted $3.82 earnings per share. As a group, research analysts anticipate that Chipotle Mexican Grill, Inc. will post 10.97 earnings per share for the current year.

Chipotle Mexican Grill Profile

Chipotle Mexican Grill, Inc, together with its subsidiaries, operates Chipotle Mexican Grill restaurants. As of December 31, 2019, it operated 2,580 restaurants in the United States; 39 international Chipotle restaurants; and 3 non-Chipotle restaurants. The company was founded in 1993 and is headquartered in Newport Beach, California.

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Institutional Ownership by Quarter for Chipotle Mexican Grill (NYSE:CMG)

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