Geode Capital Management LLC Boosts Stake in Chipotle Mexican Grill, Inc. $CMG

Geode Capital Management LLC increased its stake in Chipotle Mexican Grill, Inc. (NYSE:CMG) by 1.1% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 29,659,508 shares of the restaurant operator’s stock after acquiring an additional 325,926 shares during the period. Geode Capital Management LLC owned about 2.21% of Chipotle Mexican Grill worth $1,657,193,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. raised its position in Chipotle Mexican Grill by 5.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 8,979,637 shares of the restaurant operator’s stock worth $450,868,000 after purchasing an additional 491,002 shares during the period. Corient IA LLC bought a new position in shares of Chipotle Mexican Grill during the first quarter valued at about $753,000. Advisors Asset Management Inc. increased its holdings in shares of Chipotle Mexican Grill by 32.4% in the first quarter. Advisors Asset Management Inc. now owns 75,368 shares of the restaurant operator’s stock worth $3,784,000 after buying an additional 18,458 shares during the period. Hilltop National Bank bought a new stake in shares of Chipotle Mexican Grill in the 2nd quarter valued at about $2,579,000. Finally, Banco Santander S.A. increased its stake in shares of Chipotle Mexican Grill by 47.6% in the first quarter. Banco Santander S.A. now owns 31,764 shares of the restaurant operator’s stock worth $1,595,000 after buying an additional 10,246 shares during the period. Institutional investors own 91.30% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Robert W. Baird dropped their price objective on Chipotle Mexican Grill from $59.00 to $49.00 and set an “outperform” rating for the company in a report on Friday, October 10th. BMO Capital Markets restated an “outperform” rating on shares of Chipotle Mexican Grill in a research report on Thursday, October 30th. JPMorgan Chase & Co. decreased their price objective on Chipotle Mexican Grill from $44.00 to $40.00 and set a “neutral” rating for the company in a report on Thursday, October 30th. Truist Financial dropped their target price on Chipotle Mexican Grill from $53.00 to $45.00 and set a “buy” rating on the stock in a report on Thursday, October 30th. Finally, Morgan Stanley reduced their price target on shares of Chipotle Mexican Grill from $59.00 to $50.00 and set an “overweight” rating for the company in a research report on Thursday, October 30th. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Chipotle Mexican Grill has an average rating of “Moderate Buy” and a consensus price target of $49.81.

Chipotle Mexican Grill Price Performance

NYSE:CMG opened at $31.30 on Thursday. Chipotle Mexican Grill, Inc. has a 1 year low of $29.75 and a 1 year high of $66.74. The firm has a market capitalization of $41.39 billion, a price-to-earnings ratio of 27.70, a PEG ratio of 2.65 and a beta of 0.98. The business has a 50 day simple moving average of $38.56 and a 200-day simple moving average of $45.67.

Chipotle Mexican Grill (NYSE:CMG) last issued its quarterly earnings results on Wednesday, October 29th. The restaurant operator reported $0.29 EPS for the quarter, meeting the consensus estimate of $0.29. Chipotle Mexican Grill had a net margin of 13.04% and a return on equity of 44.32%. The company had revenue of $3 billion for the quarter, compared to the consensus estimate of $3.06 billion. During the same period in the prior year, the firm posted $0.27 EPS. The firm’s revenue was up 7.5% compared to the same quarter last year. As a group, analysts expect 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.