CIBC Asset Management Inc Acquires 14,868 Shares of Chipotle Mexican Grill, Inc. (NYSE:CMG)

CIBC Asset Management Inc raised its holdings in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG) by 8.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 199,610 shares of the restaurant operator’s stock after purchasing an additional 14,868 shares during the quarter. CIBC Asset Management Inc’s holdings in Chipotle Mexican Grill were worth $11,502,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in CMG. Nwam LLC purchased a new position in shares of Chipotle Mexican Grill during the first quarter valued at $220,000. O Shaughnessy Asset Management LLC increased its stake in shares of Chipotle Mexican Grill by 19.7% during the first quarter. O Shaughnessy Asset Management LLC now owns 1,990 shares of the restaurant operator’s stock valued at $5,784,000 after buying an additional 327 shares during the period. Seven Eight Capital LP increased its stake in shares of Chipotle Mexican Grill by 1,058.7% during the first quarter. Seven Eight Capital LP now owns 1,599 shares of the restaurant operator’s stock valued at $4,648,000 after buying an additional 1,461 shares during the period. Clearbridge Investments LLC increased its stake in shares of Chipotle Mexican Grill by 1.0% during the first quarter. Clearbridge Investments LLC now owns 3,422 shares of the restaurant operator’s stock valued at $9,947,000 after buying an additional 34 shares during the period. Finally, UniSuper Management Pty Ltd increased its stake in shares of Chipotle Mexican Grill by 216.5% during the first quarter. UniSuper Management Pty Ltd now owns 728 shares of the restaurant operator’s stock valued at $2,116,000 after buying an additional 498 shares during the period. 91.31% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently commented on CMG. TD Cowen raised their price target on Chipotle Mexican Grill from $65.00 to $68.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Stephens reiterated an “equal weight” rating and issued a $65.00 target price on shares of Chipotle Mexican Grill in a research note on Tuesday, November 12th. Truist Financial lifted their target price on Chipotle Mexican Grill from $71.00 to $72.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Piper Sandler raised their price target on Chipotle Mexican Grill from $59.00 to $60.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Finally, Loop Capital raised their price target on Chipotle Mexican Grill from $53.00 to $58.00 and gave the stock a “hold” rating in a report on Wednesday, October 30th. Ten equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $65.27.

Insider Buying and Selling

In other Chipotle Mexican Grill news, Director Robin S. Hickenlooper sold 1,790 shares of the company’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $56.38, for a total value of $100,920.20. Following the completion of the sale, the director now directly owns 41,510 shares in the company, valued at $2,340,333.80. This represents a 4.13 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Curtis E. Garner sold 15,750 shares of the company’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $55.02, for a total value of $866,565.00. Following the completion of the transaction, the insider now directly owns 473,514 shares in the company, valued at approximately $26,052,740.28. This trade represents a 3.22 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 33,290 shares of company stock worth $1,866,023. 1.02% of the stock is owned by corporate insiders.

Chipotle Mexican Grill Price Performance

Chipotle Mexican Grill stock opened at $58.63 on Friday. The stock has a market capitalization of $79.89 billion, a PE ratio of 54.79, a price-to-earnings-growth ratio of 2.39 and a beta of 1.26. Chipotle Mexican Grill, Inc. has a 12 month low of $43.10 and a 12 month high of $69.26. The business has a 50 day simple moving average of $58.02 and a 200-day simple moving average of $81.06.

Chipotle Mexican Grill (NYSE:CMG) last posted its quarterly earnings data on Tuesday, October 29th. The restaurant operator reported $0.27 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.02. Chipotle Mexican Grill had a return on equity of 43.20% and a net margin of 13.51%. The business had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $2.82 billion. During the same period in the previous year, the business earned $0.23 earnings per share. The business’s revenue was up 13.0% compared to the same quarter last year. On average, equities research analysts anticipate that Chipotle Mexican Grill, Inc. will post 1.11 EPS for the current fiscal year.

About Chipotle Mexican Grill

Chipotle Mexican Grill, Inc, together with its subsidiaries, owns and operates Chipotle Mexican Grill restaurants. It sells food and beverages through offering burritos, burrito bowls, quesadillas, tacos, and salads. The company also provides delivery and related services its app and website. It has operations in the United States, Canada, France, Germany, and the United Kingdom.