KLP Kapitalforvaltning AS Purchases 13,200 Shares of Chipotle Mexican Grill, Inc. $CMG

KLP Kapitalforvaltning AS grew its position in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG) by 2.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 481,100 shares of the restaurant operator’s stock after acquiring an additional 13,200 shares during the period. KLP Kapitalforvaltning AS’s holdings in Chipotle Mexican Grill were worth $27,014,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Ascent Group LLC raised its stake in shares of Chipotle Mexican Grill by 3.5% during the second quarter. Ascent Group LLC now owns 5,752 shares of the restaurant operator’s stock valued at $323,000 after acquiring an additional 193 shares during the last quarter. E. Ohman J or Asset Management AB increased its position in shares of Chipotle Mexican Grill by 0.3% during the second quarter. E. Ohman J or Asset Management AB now owns 59,234 shares of the restaurant operator’s stock valued at $3,326,000 after buying an additional 194 shares during the period. Occidental Asset Management LLC increased its position in shares of Chipotle Mexican Grill by 2.8% during the second quarter. Occidental Asset Management LLC now owns 7,257 shares of the restaurant operator’s stock valued at $407,000 after buying an additional 195 shares during the period. Perennial Advisors LLC increased its stake in shares of Chipotle Mexican Grill by 3.1% during the second quarter. Perennial Advisors LLC now owns 6,667 shares of the restaurant operator’s stock valued at $374,000 after purchasing an additional 200 shares in the last quarter. Finally, Quent Capital LLC increased its stake in shares of Chipotle Mexican Grill by 2.0% during the second quarter. Quent Capital LLC now owns 10,555 shares of the restaurant operator’s stock valued at $593,000 after purchasing an additional 208 shares in the last quarter. 91.30% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on CMG shares. Raymond James Financial reduced their price target on shares of Chipotle Mexican Grill from $60.00 to $56.00 and set an “outperform” rating for the company in a research report on Friday, August 15th. Wells Fargo & Company reduced their price target on shares of Chipotle Mexican Grill from $65.00 to $60.00 and set an “overweight” rating for the company in a research report on Thursday, July 24th. Melius began coverage on shares of Chipotle Mexican Grill in a research report on Monday, July 14th. They set a “hold” rating and a $60.00 price target for the company. Truist Financial dropped their target price on shares of Chipotle Mexican Grill from $64.00 to $60.00 and set a “buy” rating on the stock in a report on Friday, July 25th. Finally, Robert W. Baird dropped their target price on shares of Chipotle Mexican Grill from $62.00 to $59.00 and set an “outperform” rating on the stock in a report on Thursday, July 24th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $59.28.

Chipotle Mexican Grill Price Performance

Shares of Chipotle Mexican Grill stock opened at $40.94 on Wednesday. The company’s fifty day simple moving average is $41.33 and its 200-day simple moving average is $47.83. The stock has a market capitalization of $54.89 billion, a PE ratio of 36.55, a P/E/G ratio of 2.12 and a beta of 0.99. Chipotle Mexican Grill, Inc. has a 1-year low of $38.30 and a 1-year high of $66.74.

Chipotle Mexican Grill (NYSE:CMG) last issued its quarterly earnings results on Wednesday, July 23rd. The restaurant operator reported $0.33 earnings per share for the quarter, topping the consensus estimate 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 net margin of 13.32% and a return on equity of 43.50%. The company’s revenue was up 3.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.34 EPS. As a group, research analysts anticipate that Chipotle Mexican Grill, Inc. will post 1.29 EPS for the current year.

Chipotle Mexican Grill 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.