Balboa Wealth Partners Makes New $632,000 Investment in Chipotle Mexican Grill, Inc. $CMG

Balboa Wealth Partners bought a new stake in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 16,114 shares of the restaurant operator’s stock, valued at approximately $632,000.

A number of other hedge funds have also recently made changes to their positions in the stock. Norges Bank purchased a new position in Chipotle Mexican Grill during the second quarter valued at $1,001,668,000. Sustainable Growth Advisers LP purchased a new stake in shares of Chipotle Mexican Grill in the second quarter worth $597,031,000. BlueSpruce Investments LP increased its holdings in shares of Chipotle Mexican Grill by 24,760.7% during the second quarter. BlueSpruce Investments LP now owns 3,930,732 shares of the restaurant operator’s stock valued at $220,711,000 after acquiring an additional 3,914,921 shares in the last quarter. Marshall Wace LLP raised its position in shares of Chipotle Mexican Grill by 2,705.6% in the 2nd quarter. Marshall Wace LLP now owns 2,126,682 shares of the restaurant operator’s stock worth $119,413,000 after purchasing an additional 2,050,882 shares during the last quarter. Finally, Winslow Capital Management LLC boosted its stake in Chipotle Mexican Grill by 20.1% in the 2nd quarter. Winslow Capital Management LLC now owns 10,705,985 shares of the restaurant operator’s stock worth $601,141,000 after purchasing an additional 1,794,175 shares in the last quarter. 91.30% of the stock is owned by institutional investors.

Chipotle Mexican Grill Price Performance

CMG stock opened at $36.28 on Friday. Chipotle Mexican Grill, Inc. has a 1 year low of $29.75 and a 1 year high of $58.42. The company has a market cap of $47.25 billion, a P/E ratio of 31.82, a price-to-earnings-growth ratio of 2.22 and a beta of 0.99. The stock’s fifty day moving average price is $38.13 and its 200-day moving average price is $38.46.

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

Wall Street Analyst Weigh In

Several brokerages recently commented on CMG. The Goldman Sachs Group reissued a “buy” rating on shares of Chipotle Mexican Grill in a research report on Thursday, December 18th. Telsey Advisory Group cut their price target on shares of Chipotle Mexican Grill from $50.00 to $48.00 and set an “outperform” rating on the stock in a report on Wednesday, February 4th. KeyCorp decreased their price objective on shares of Chipotle Mexican Grill from $45.00 to $42.00 and set an “overweight” rating for the company in a report on Wednesday, February 4th. BTIG Research reiterated a “buy” rating and set a $45.00 target price on shares of Chipotle Mexican Grill in a research note on Wednesday, February 4th. Finally, JPMorgan Chase & Co. decreased their price target on Chipotle Mexican Grill from $44.00 to $40.00 and set a “neutral” rating for the company in a research note on Thursday, October 30th. Twenty-two analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average 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.