Resona Asset Management Co. Ltd. Buys New Shares in Chipotle Mexican Grill, Inc. (NYSE:CMG)

Resona Asset Management Co. Ltd. purchased a new position in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 401,572 shares of the restaurant operator’s stock, valued at approximately $24,242,000.

A number of other hedge funds also recently bought and sold shares of CMG. Pitcairn Co. increased its stake in shares of Chipotle Mexican Grill by 4.7% during the fourth quarter. Pitcairn Co. now owns 8,082 shares of the restaurant operator’s stock worth $487,000 after buying an additional 363 shares during the period. Spahn Wealth & Retirement LLC purchased a new stake in shares of Chipotle Mexican Grill in the 4th quarter valued at approximately $3,220,000. Arete Wealth Advisors LLC raised its holdings in shares of Chipotle Mexican Grill by 36.8% in the 4th quarter. Arete Wealth Advisors LLC now owns 9,534 shares of the restaurant operator’s stock valued at $575,000 after purchasing an additional 2,566 shares in the last quarter. Motley Fool Asset Management LLC lifted its position in shares of Chipotle Mexican Grill by 31.6% during the 4th quarter. Motley Fool Asset Management LLC now owns 72,528 shares of the restaurant operator’s stock worth $4,373,000 after purchasing an additional 17,414 shares during the last quarter. Finally, World Investment Advisors grew its stake in shares of Chipotle Mexican Grill by 92.9% during the fourth quarter. World Investment Advisors now owns 157,655 shares of the restaurant operator’s stock worth $9,507,000 after purchasing an additional 75,928 shares in the last quarter. Institutional investors and hedge funds own 91.31% of the company’s stock.

Wall Street Analysts Forecast Growth

CMG has been the subject of a number of recent analyst reports. Jefferies Financial Group lifted their price target on Chipotle Mexican Grill from $56.00 to $62.00 and gave the stock a “hold” rating in a report on Monday, December 16th. Loop Capital upgraded Chipotle Mexican Grill from a “hold” rating to a “buy” rating and boosted their target price for the stock from $58.00 to $65.00 in a research note on Friday, March 14th. Sanford C. Bernstein reiterated an “outperform” rating and issued a $70.00 price target on shares of Chipotle Mexican Grill in a research note on Tuesday, January 28th. Piper Sandler reduced their price objective on shares of Chipotle Mexican Grill from $60.00 to $59.00 and set a “neutral” rating for the company in a research report on Wednesday, February 5th. Finally, Stifel Nicolaus dropped their target price on shares of Chipotle Mexican Grill from $68.00 to $65.00 and set a “buy” rating on the stock in a research report on Wednesday, March 19th. Eight equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Chipotle Mexican Grill has a consensus rating of “Moderate Buy” and a consensus target price of $66.38.

Chipotle Mexican Grill Stock Performance

CMG stock opened at $47.29 on Friday. The stock has a market capitalization of $64.09 billion, a PE ratio of 42.59, a price-to-earnings-growth ratio of 2.04 and a beta of 1.27. The company has a fifty day moving average of $53.16 and a 200-day moving average of $57.33. Chipotle Mexican Grill, Inc. has a one year low of $46.78 and a one year high of $69.26.

Chipotle Mexican Grill (NYSE:CMG) last announced its quarterly earnings data on Tuesday, February 4th. The restaurant operator reported $0.25 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.01. Chipotle Mexican Grill had a net margin of 13.56% and a return on equity of 42.92%. Equities 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.