Rockland Trust Co. Makes New $2.48 Million Investment in Chipotle Mexican Grill, Inc. $CMG

Rockland Trust Co. acquired 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 fund acquired 63,169 shares of the restaurant operator’s stock, valued at approximately $2,476,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Operose Advisors LLC bought a new position in shares of Chipotle Mexican Grill in the second quarter worth about $25,000. Salomon & Ludwin LLC acquired a new stake in Chipotle Mexican Grill in the 3rd quarter valued at approximately $26,000. Lavaca Capital LLC bought a new position in Chipotle Mexican Grill in the 2nd quarter worth approximately $28,000. Activest Wealth Management lifted its holdings in shares of Chipotle Mexican Grill by 109.3% during the second quarter. Activest Wealth Management now owns 517 shares of the restaurant operator’s stock worth $29,000 after buying an additional 270 shares during the last quarter. Finally, Steigerwald Gordon & Koch Inc. bought a new stake in shares of Chipotle Mexican Grill in the third quarter valued at approximately $29,000. 91.30% of the stock is currently owned by institutional investors and hedge funds.

Chipotle Mexican Grill Stock Performance

Shares of NYSE CMG opened at $39.55 on Tuesday. Chipotle Mexican Grill, Inc. has a 52-week low of $29.75 and a 52-week high of $59.09. The business has a fifty day moving average of $37.90 and a two-hundred day moving average of $38.65. The stock has a market cap of $51.51 billion, a PE ratio of 34.69, a PEG ratio of 2.41 and a beta of 0.99.

Chipotle Mexican Grill (NYSE:CMG) last announced its quarterly earnings results on Tuesday, February 3rd. The restaurant operator reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.01. The firm had revenue of $2.98 billion during the quarter, compared to the consensus estimate of $2.96 billion. Chipotle Mexican Grill had a net margin of 12.88% and a return on equity of 47.99%. The firm’s quarterly revenue was up 4.9% on a year-over-year basis. During the same period last year, the firm posted $0.25 EPS. Analysts predict that Chipotle Mexican Grill, Inc. will post 1.29 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on CMG shares. Stephens reiterated an “equal weight” rating and set a $35.00 target price on shares of Chipotle Mexican Grill in a research note on Wednesday, February 4th. Zacks Research upgraded shares of Chipotle Mexican Grill from a “strong sell” rating to a “hold” rating in a research note on Monday, December 29th. Jefferies Financial Group decreased their target price on Chipotle Mexican Grill from $48.00 to $44.00 and set a “hold” rating on the stock in a research report on Monday, October 13th. Stifel Nicolaus cut their price target on Chipotle Mexican Grill from $50.00 to $45.00 and set a “buy” rating for the company in a report on Wednesday, February 4th. Finally, Royal Bank Of Canada decreased their price objective on Chipotle Mexican Grill from $58.00 to $40.00 and set an “outperform” rating on the stock in a report on Thursday, October 30th. Twenty-two research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. Based on data from MarketBeat, Chipotle Mexican Grill presently has a consensus rating of “Moderate Buy” and a consensus price target of $47.24.

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.