Elevate Capital Advisors LLC Buys New Shares in Chipotle Mexican Grill, Inc. $CMG

Elevate Capital Advisors LLC purchased a new position in Chipotle Mexican Grill, Inc. (NYSE:CMG) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 34,631 shares of the restaurant operator’s stock, valued at approximately $1,357,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Sarasin & Partners LLP boosted its stake in shares of Chipotle Mexican Grill by 1.1% in the 3rd quarter. Sarasin & Partners LLP now owns 2,565,111 shares of the restaurant operator’s stock worth $102,348,000 after buying an additional 27,366 shares during the last quarter. Rexford Capital Inc. grew its stake in Chipotle Mexican Grill by 3,266.1% in the 3rd quarter. Rexford Capital Inc. now owns 14,676 shares of the restaurant operator’s stock valued at $575,000 after purchasing an additional 14,240 shares during the period. Union Bancaire Privee UBP SA grew its stake in Chipotle Mexican Grill by 76.3% in the 3rd quarter. Union Bancaire Privee UBP SA now owns 356,986 shares of the restaurant operator’s stock valued at $13,333,000 after purchasing an additional 154,512 shares during the period. Hilltop National Bank bought a new stake in shares of Chipotle Mexican Grill during the 2nd quarter worth $2,579,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of Chipotle Mexican Grill by 7.1% in the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,596,483 shares of the restaurant operator’s stock worth $145,793,000 after buying an additional 171,466 shares during the last quarter. Institutional investors own 91.30% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on the stock. JPMorgan Chase & Co. lowered their price objective on shares of Chipotle Mexican Grill from $44.00 to $40.00 and set a “neutral” rating on the stock in a research report on Thursday, October 30th. Weiss Ratings restated a “hold (c-)” rating on shares of Chipotle Mexican Grill in a research note on Monday, December 29th. TD Cowen dropped their price objective on Chipotle Mexican Grill from $45.00 to $40.00 and set a “buy” rating on the stock in a research note on Thursday, October 30th. Mizuho raised their target price on Chipotle Mexican Grill from $36.00 to $38.00 and gave the stock a “neutral” rating in a research report on Friday, January 9th. Finally, Northcoast Research lowered Chipotle Mexican Grill from a “buy” rating to a “neutral” rating in a research note on Friday, October 31st. Two investment analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and thirteen have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $50.00.

Chipotle Mexican Grill Stock Up 2.8%

CMG stock opened at $40.51 on Thursday. The stock has a 50-day simple moving average of $35.07 and a two-hundred day simple moving average of $40.65. Chipotle Mexican Grill, Inc. has a twelve month low of $29.75 and a twelve month high of $59.57. The firm has a market capitalization of $53.57 billion, a PE ratio of 35.85, a PEG ratio of 3.68 and a beta of 0.97.

Chipotle Mexican Grill (NYSE:CMG) last released its quarterly earnings data on Wednesday, October 29th. The restaurant operator reported $0.29 EPS for the quarter, meeting analysts’ consensus estimates of $0.29. The company had revenue of $3 billion during the quarter, compared to analyst estimates of $3.06 billion. Chipotle Mexican Grill had a net margin of 13.04% and a return on equity of 45.39%. Chipotle Mexican Grill’s revenue was up 7.5% compared to the same quarter last year. During the same period last year, the business earned $0.27 earnings per share. On average, equities research analysts anticipate that Chipotle Mexican Grill, Inc. will post 1.29 EPS for the current fiscal year.

Chipotle Mexican Grill Company 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.