Varma Mutual Pension Insurance Co Makes New Investment in Chipotle Mexican Grill, Inc. $CMG

Varma Mutual Pension Insurance Co purchased a new stake in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 334,202 shares of the restaurant operator’s stock, valued at approximately $11,363,000.

Other large investors have also recently modified their holdings of the company. Wealth Watch Advisors INC purchased a new stake in Chipotle Mexican Grill during the 3rd quarter valued at about $25,000. MV Capital Management Inc. bought a new stake in Chipotle Mexican Grill during the 4th quarter valued at about $26,000. Meeder Asset Management Inc. purchased a new position in Chipotle Mexican Grill in the second quarter worth about $27,000. Osbon Capital Management LLC purchased a new position in Chipotle Mexican Grill in the fourth quarter worth about $28,000. Finally, Merkkuri Wealth Advisors LLC bought a new position in shares of Chipotle Mexican Grill in the first quarter worth approximately $28,000. Hedge funds and other institutional investors own 91.30% of the company’s stock.

Analyst Upgrades and Downgrades

CMG has been the topic of a number of recent analyst reports. Guggenheim reiterated a “neutral” rating and set a $36.00 price target (up from $35.00) on shares of Chipotle Mexican Grill in a report on Friday, July 31st. Argus boosted their price objective on shares of Chipotle Mexican Grill from $40.00 to $45.00 and gave the stock a “buy” rating in a report on Tuesday, August 4th. Stephens reaffirmed a “positive” rating and issued a $40.00 price objective (up from $36.00) on shares of Chipotle Mexican Grill in a research report on Thursday, July 30th. Piper Sandler cut their target price on Chipotle Mexican Grill from $42.00 to $39.00 and set an “overweight” rating on the stock in a research note on Thursday, July 30th. Finally, Evercore reissued an “outperform” rating and issued a $47.00 target price on shares of Chipotle Mexican Grill in a report on Thursday, July 30th. Twenty-four research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $44.16.

Chipotle Mexican Grill Trading Down 0.2%

Shares of CMG opened at $36.84 on Monday. The firm has a fifty day simple moving average of $33.80 and a two-hundred day simple moving average of $33.96. The firm has a market cap of $46.62 billion, a PE ratio of 33.80, a P/E/G ratio of 2.35 and a beta of 0.94. Chipotle Mexican Grill, Inc. has a 1-year low of $28.03 and a 1-year high of $43.72.

Chipotle Mexican Grill (NYSE:CMG) last released its quarterly earnings results on Wednesday, July 29th. The restaurant operator reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.01. The firm had revenue of $3.35 billion for the quarter, compared to the consensus estimate of $3.33 billion. Chipotle Mexican Grill had a return on equity of 54.65% and a net margin of 11.43%.The company’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same period last year, the business posted $0.33 EPS. As a group, research analysts forecast that Chipotle Mexican Grill, Inc. will post 1.14 EPS 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.