Bank of Nova Scotia Increases Stock Holdings in Chipotle Mexican Grill, Inc. $CMG

Bank of Nova Scotia boosted its stake in Chipotle Mexican Grill, Inc. (NYSE:CMG) by 11.0% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 475,672 shares of the restaurant operator’s stock after acquiring an additional 47,241 shares during the quarter. Bank of Nova Scotia’s holdings in Chipotle Mexican Grill were worth $18,642,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CMG. Revolve Wealth Partners LLC lifted its holdings in Chipotle Mexican Grill by 4.7% during the fourth quarter. Revolve Wealth Partners LLC now owns 4,804 shares of the restaurant operator’s stock valued at $290,000 after purchasing an additional 214 shares in the last quarter. Trueblood Wealth Management LLC increased its stake in shares of Chipotle Mexican Grill by 4.6% during the third quarter. Trueblood Wealth Management LLC now owns 5,703 shares of the restaurant operator’s stock worth $224,000 after purchasing an additional 253 shares in the last quarter. Scotia Capital Inc. raised its position in shares of Chipotle Mexican Grill by 0.4% during the 2nd quarter. Scotia Capital Inc. now owns 76,358 shares of the restaurant operator’s stock worth $4,288,000 after purchasing an additional 269 shares during the last quarter. Lakeshore Capital Group Inc. raised its position in shares of Chipotle Mexican Grill by 1.9% during the 3rd quarter. Lakeshore Capital Group Inc. now owns 14,632 shares of the restaurant operator’s stock worth $573,000 after purchasing an additional 272 shares during the last quarter. Finally, Pine Haven Investment Counsel Inc lifted its stake in Chipotle Mexican Grill by 0.8% in the 3rd quarter. Pine Haven Investment Counsel Inc now owns 37,391 shares of the restaurant operator’s stock valued at $1,465,000 after buying an additional 280 shares in the last quarter. Hedge funds and other institutional investors own 91.30% of the company’s stock.

Analyst Ratings Changes

CMG has been the topic of several research analyst reports. Zacks Research cut Chipotle Mexican Grill from a “hold” rating to a “strong sell” rating in a report on Friday, February 6th. Mizuho decreased their target price on Chipotle Mexican Grill from $38.00 to $37.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 4th. KeyCorp lowered their price target on Chipotle Mexican Grill from $45.00 to $42.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 4th. Gordon Haskett cut Chipotle Mexican Grill from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 8th. Finally, Evercore reissued an “outperform” rating and issued a $45.00 price objective on shares of Chipotle Mexican Grill in a research note on Friday, December 19th. Twenty-three analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $47.37.

Chipotle Mexican Grill Trading Up 4.6%

CMG stock opened at $34.03 on Tuesday. The company has a market cap of $44.32 billion, a price-to-earnings ratio of 29.85, a PEG ratio of 2.00 and a beta of 1.00. Chipotle Mexican Grill, Inc. has a 12 month low of $29.75 and a 12 month high of $58.42. The firm has a 50-day moving average of $37.94 and a two-hundred day moving average of $37.44.

Chipotle Mexican Grill (NYSE:CMG) last issued its earnings results on Tuesday, February 3rd. The restaurant operator reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.01. The business had revenue of $2.98 billion for the quarter, compared to analysts’ expectations of $2.96 billion. Chipotle Mexican Grill had a return on equity of 47.99% and a net margin of 12.88%.The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.25 EPS. As a group, equities analysts forecast that Chipotle Mexican Grill, Inc. will post 1.29 earnings per share for the current 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.