American International Group Inc. lifted its stake in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG) by 5.8% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 9,970 shares of the restaurant operator’s stock after acquiring an additional 551 shares during the period. American International Group Inc.’s holdings in Chipotle Mexican Grill were worth $4,532,000 at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. Canada Pension Plan Investment Board lifted its position in shares of Chipotle Mexican Grill by 636.4% during the 2nd quarter. Canada Pension Plan Investment Board now owns 243 shares of the restaurant operator’s stock valued at $105,000 after acquiring an additional 210 shares during the period. Cornerstone Wealth Management LLC lifted its position in shares of Chipotle Mexican Grill by 17.1% during the 3rd quarter. Cornerstone Wealth Management LLC now owns 35,254 shares of the restaurant operator’s stock valued at $116,000 after acquiring an additional 5,142 shares during the period. Piedmont Investment Advisors LLC acquired a new position in shares of Chipotle Mexican Grill during the 2nd quarter valued at $119,000. Dupont Capital Management Corp acquired a new position in shares of Chipotle Mexican Grill during the 2nd quarter valued at $123,000. Finally, First Hawaiian Bank acquired a new position in shares of Chipotle Mexican Grill during the 3rd quarter valued at $202,000. Institutional investors own 91.40% of the company’s stock.
In other news, Director Pershing Square Capital Manage sold 118,307 shares of the company’s stock in a transaction on Tuesday, November 6th. The shares were sold at an average price of $472.05, for a total value of $55,846,819.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 2.19% of the company’s stock.
NYSE CMG opened at $467.43 on Friday. Chipotle Mexican Grill, Inc. has a 1 year low of $247.51 and a 1 year high of $530.68. The firm has a market capitalization of $13.01 billion, a PE ratio of 70.82, a PEG ratio of 3.10 and a beta of 0.23.
Chipotle Mexican Grill (NYSE:CMG) last posted its earnings results on Thursday, October 25th. The restaurant operator reported $2.16 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.00 by $0.16. Chipotle Mexican Grill had a net margin of 3.96% and a return on equity of 17.14%. The firm had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.23 billion. On average, research analysts expect that Chipotle Mexican Grill, Inc. will post 8.47 earnings per share for the current year.
A number of research analysts recently issued reports on the stock. Morgan Stanley upgraded shares of Chipotle Mexican Grill from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $413.00 to $600.00 in a research report on Wednesday, August 15th. Maxim Group reiterated a “hold” rating and set a $500.00 target price (up previously from $430.00) on shares of Chipotle Mexican Grill in a research report on Tuesday, August 28th. UBS Group set a $370.00 target price on shares of Chipotle Mexican Grill and gave the company a “sell” rating in a research report on Monday, October 22nd. Wells Fargo & Co boosted their target price on shares of Chipotle Mexican Grill from $415.00 to $420.00 and gave the company a “market perform” rating in a research report on Friday, October 26th. Finally, Piper Jaffray Companies set a $550.00 target price on shares of Chipotle Mexican Grill and gave the company a “buy” rating in a research report on Monday, October 22nd. Nine research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and fourteen have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $431.72.
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About Chipotle Mexican Grill
Chipotle Mexican Grill, Inc, together with its subsidiaries, operates Chipotle Mexican Grill restaurants. As of September 30, 2018, it operated 2,424 Chipotle restaurants in the United States, as well as 37 international Chipotle restaurants. The company was founded in 1993 and is headquartered in Newport Beach, California.
Further Reading: Analyst Ratings
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