Chipotle Mexican Grill, Inc. $CMG Shares Purchased by Bank of Nova Scotia

Bank of Nova Scotia lifted its position in Chipotle Mexican Grill, Inc. (NYSE:CMG) by 11.0% in the third quarter, HoldingsChannel reports. The firm owned 475,672 shares of the restaurant operator’s stock after buying an additional 47,241 shares during the period. Bank of Nova Scotia’s holdings in Chipotle Mexican Grill were worth $18,642,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CMG. Vanguard Group Inc. raised its stake in Chipotle Mexican Grill by 2.0% during the third quarter. Vanguard Group Inc. now owns 125,927,338 shares of the restaurant operator’s stock worth $4,935,092,000 after purchasing an additional 2,470,213 shares during the period. Capital World Investors grew its stake in shares of Chipotle Mexican Grill by 122.7% in the 3rd quarter. Capital World Investors now owns 87,844,788 shares of the restaurant operator’s stock valued at $3,442,645,000 after buying an additional 48,398,628 shares during the period. Capital International Investors grew its stake in shares of Chipotle Mexican Grill by 42.4% in the 3rd quarter. Capital International Investors now owns 38,497,927 shares of the restaurant operator’s stock valued at $1,509,043,000 after buying an additional 11,471,658 shares during the period. Alliancebernstein L.P. increased its holdings 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 worth $1,859,211,000 after buying an additional 606,190 shares during the last quarter. Finally, American Century Companies Inc. raised its position in shares of Chipotle Mexican Grill by 2.9% during the 2nd quarter. American Century Companies Inc. now owns 21,257,666 shares of the restaurant operator’s stock valued at $1,193,618,000 after buying an additional 595,038 shares during the period. 91.30% of the stock is currently owned by institutional investors and hedge funds.

Chipotle Mexican Grill Price Performance

Shares of NYSE:CMG opened at $34.03 on Tuesday. The firm has a market capitalization of $44.32 billion, a PE ratio of 29.85, a price-to-earnings-growth ratio of 2.00 and a beta of 1.00. The firm’s 50-day moving average is $37.94 and its two-hundred day moving average is $37.44. Chipotle Mexican Grill, Inc. has a 1 year low of $29.75 and a 1 year high of $58.42.

Chipotle Mexican Grill (NYSE:CMG) last issued its quarterly earnings results on Tuesday, February 3rd. The restaurant operator reported $0.25 earnings per share (EPS) 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 net margin of 12.88% and a return on equity of 47.99%. The business’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.25 earnings per share. Analysts expect that Chipotle Mexican Grill, Inc. will post 1.29 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently commented on CMG. DA Davidson began coverage on Chipotle Mexican Grill in a report on Friday, March 6th. They issued a “buy” rating and a $51.00 price objective on the stock. Sanford C. Bernstein raised their target price 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. Stifel Nicolaus restated a “buy” rating on shares of Chipotle Mexican Grill in a research report on Monday, March 9th. Morgan Stanley decreased their price target on Chipotle Mexican Grill from $50.00 to $49.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 4th. Finally, Wall Street Zen upgraded Chipotle Mexican Grill from a “sell” rating to a “hold” rating in a report on Saturday, March 7th. Twenty-three investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $47.37.

Chipotle Mexican Grill Company 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.