Dillon & Associates Inc. Boosts Stake in Chipotle Mexican Grill, Inc. $CMG

Dillon & Associates Inc. boosted its position in Chipotle Mexican Grill, Inc. (NYSE:CMG) by 8.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 311,770 shares of the restaurant operator’s stock after purchasing an additional 24,337 shares during the quarter. Chipotle Mexican Grill makes up 1.6% of Dillon & Associates Inc.’s portfolio, making the stock its 20th biggest position. Dillon & Associates Inc.’s holdings in Chipotle Mexican Grill were worth $12,159,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in CMG. Vanguard Group Inc. raised its position in shares of Chipotle Mexican Grill by 0.8% in the 2nd quarter. Vanguard Group Inc. now owns 123,457,125 shares of the restaurant operator’s stock worth $6,932,118,000 after purchasing an additional 993,798 shares during the last quarter. Alliancebernstein L.P. grew its stake in shares of Chipotle Mexican Grill by 1.9% during the 2nd quarter. Alliancebernstein L.P. now owns 33,111,508 shares of the restaurant operator’s stock valued at $1,859,211,000 after purchasing an additional 606,190 shares during the period. Geode Capital Management LLC increased its holdings in Chipotle Mexican Grill by 1.1% during the second quarter. Geode Capital Management LLC now owns 29,659,508 shares of the restaurant operator’s stock valued at $1,657,193,000 after buying an additional 325,926 shares during the last quarter. American Century Companies Inc. increased its stake in shares of Chipotle Mexican Grill by 2.9% in the 2nd quarter. American Century Companies Inc. now owns 21,257,666 shares of the restaurant operator’s stock worth $1,193,618,000 after purchasing an additional 595,038 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Chipotle Mexican Grill in the second quarter worth about $1,001,668,000. 91.30% of the stock is currently owned by hedge funds and other institutional investors.

Chipotle Mexican Grill Stock Performance

Shares of Chipotle Mexican Grill stock opened at $40.26 on Friday. Chipotle Mexican Grill, Inc. has a one year low of $29.75 and a one year high of $59.57. The company has a 50-day simple moving average of $35.26 and a two-hundred day simple moving average of $40.65. The company has a market capitalization of $53.23 billion, a PE ratio of 35.63, a P/E/G ratio of 3.86 and a beta of 0.97.

Chipotle Mexican Grill (NYSE:CMG) last announced its earnings results on Wednesday, October 29th. The restaurant operator reported $0.29 earnings per share 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 45.39%. The company had revenue of $3 billion during the quarter, compared to the consensus estimate of $3.06 billion. During the same period last year, the firm earned $0.27 earnings per share. Chipotle Mexican Grill’s revenue was up 7.5% compared to the same quarter last year. On average, equities analysts predict that Chipotle Mexican Grill, Inc. will post 1.29 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. BTIG Research decreased their price objective on shares of Chipotle Mexican Grill from $57.00 to $45.00 and set a “buy” rating on the stock in a research report on Thursday, October 30th. Cowen reissued a “buy” rating on shares of Chipotle Mexican Grill in a report on Monday, January 5th. Sanford C. Bernstein boosted their price objective on Chipotle Mexican Grill from $40.00 to $50.00 and gave the stock an “outperform” rating in a research note on Monday, January 5th. UBS Group set a $45.00 target price on shares of Chipotle Mexican Grill in a research note on Friday, October 31st. Finally, Truist Financial increased their price target on Chipotle Mexican Grill from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Thursday, January 8th. Two research analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and thirteen have issued a Hold rating to the company. Based on data from MarketBeat.com, Chipotle Mexican Grill currently has an average rating of “Moderate Buy” and a consensus target price of $50.00.

About Chipotle Mexican Grill

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.