The Manufacturers Life Insurance Company Takes $21.64 Million Position in Chipotle Mexican Grill, Inc. $CMG

The Manufacturers Life Insurance Company purchased a new position in Chipotle Mexican Grill, Inc. (NYSE:CMG) in the second quarter, Holdings Channel.com reports. The firm purchased 636,495 shares of the restaurant operator’s stock, valued at approximately $21,641,000.

Several other hedge funds have also recently made changes to their positions in the stock. BlackRock Inc. bought a new position in shares of Chipotle Mexican Grill during the 2nd quarter valued at $4,417,475,000. Capital World Investors boosted its stake in shares of Chipotle Mexican Grill by 15.8% in the 4th quarter. Capital World Investors now owns 101,688,010 shares of the restaurant operator’s stock worth $3,762,457,000 after buying an additional 13,843,222 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Chipotle Mexican Grill by 18.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 58,447,867 shares of the restaurant operator’s stock worth $2,162,572,000 after acquiring an additional 9,237,720 shares during the period. Capital International Investors grew its holdings in shares of Chipotle Mexican Grill by 17.7% in the fourth quarter. Capital International Investors now owns 45,294,212 shares of the restaurant operator’s stock worth $1,675,895,000 after acquiring an additional 6,796,285 shares during the period. Finally, Norges Bank purchased a new stake in Chipotle Mexican Grill during the fourth quarter valued at $711,837,000. 91.30% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on CMG shares. BTIG Research reissued a “buy” rating and issued a $45.00 target price on shares of Chipotle Mexican Grill in a report on Wednesday, August 5th. Morgan Stanley boosted their price target on Chipotle Mexican Grill from $37.00 to $39.00 and gave the company an “equal weight” rating in a research note on Thursday, July 30th. BNP Paribas Exane upped their price target on shares of Chipotle Mexican Grill from $37.00 to $39.00 and gave the company a “neutral” rating in a research report on Thursday, April 30th. Royal Bank Of Canada reissued an “outperform” rating and issued a $45.00 price objective on shares of Chipotle Mexican Grill in a report on Thursday, April 30th. Finally, Piper Sandler dropped their price objective on shares of Chipotle Mexican Grill from $42.00 to $39.00 and set an “overweight” rating on the stock in a report on Thursday, July 30th. Twenty-three investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $43.84.

Insider Transactions at Chipotle Mexican Grill

In related news, insider Matthew R. Bush sold 2,675 shares of the stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $35.75, for a total value of $95,631.25. Following the completion of the sale, the insider directly owned 21,415 shares of the company’s stock, valued at approximately $765,586.25. This represents a 11.10% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.45% of the company’s stock.

Chipotle Mexican Grill Stock Down 0.3%

Shares of CMG opened at $37.24 on Friday. The business has a 50-day simple moving average of $34.21 and a two-hundred day simple moving average of $33.91. The stock has a market cap of $47.13 billion, a price-to-earnings ratio of 34.17, a PEG ratio of 2.38 and a beta of 0.94. Chipotle Mexican Grill, Inc. has a 52 week low of $28.03 and a 52 week high of $42.81.

Chipotle Mexican Grill (NYSE:CMG) last posted its quarterly earnings data on Wednesday, July 29th. The restaurant operator reported $0.33 EPS for the quarter, topping the consensus estimate of $0.32 by $0.01. Chipotle Mexican Grill had a return on equity of 54.65% and a net margin of 11.43%.The firm had revenue of $3.35 billion for the quarter, compared to the consensus estimate of $3.33 billion. During the same quarter last year, the company earned $0.33 earnings per share. The business’s revenue for the quarter was up 9.3% compared to the same quarter last year. On average, equities analysts anticipate that Chipotle Mexican Grill, Inc. will post 1.14 earnings per share for the current fiscal year.

Chipotle Mexican Grill Profile

Chipotle Mexican Grill is a fast-casual restaurant company known for its Mexican-inspired menu of burritos, bowls, tacos and salads. Founded in 1993 by Steve Ells, the chain emphasizes fresh, customizable meals made from a limited menu of core ingredients and a focus on ingredient quality. Chipotle operates primarily company-owned restaurants and offers dine-in, takeout, catering and delivery through its own digital platforms and third-party partners.

The company is headquartered in Newport Beach, California, and traces its roots to Denver, Colorado.