Hodges Capital Management Inc. Acquires New Position in Chipotle Mexican Grill, Inc. (NYSE:CMG)

Hodges Capital Management Inc. bought a new position in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 10,350 shares of the restaurant operator’s stock, valued at approximately $648,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Bank of New York Mellon Corp raised its holdings in Chipotle Mexican Grill by 4,816.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 8,356,173 shares of the restaurant operator’s stock worth $523,514,000 after buying an additional 8,186,198 shares during the period. Sumitomo Mitsui Trust Holdings Inc. lifted its position in Chipotle Mexican Grill by 4,260.5% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,132,332 shares of the restaurant operator’s stock valued at $196,241,000 after acquiring an additional 3,060,498 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in Chipotle Mexican Grill by 3,988.6% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 2,996,492 shares of the restaurant operator’s stock worth $187,730,000 after purchasing an additional 2,923,203 shares during the period. Rhumbline Advisers increased its holdings in Chipotle Mexican Grill by 4,947.9% during the 2nd quarter. Rhumbline Advisers now owns 2,633,801 shares of the restaurant operator’s stock worth $165,008,000 after purchasing an additional 2,581,625 shares in the last quarter. Finally, Principal Financial Group Inc. raised its stake in shares of Chipotle Mexican Grill by 4,537.6% in the 2nd quarter. Principal Financial Group Inc. now owns 1,677,738 shares of the restaurant operator’s stock valued at $105,110,000 after purchasing an additional 1,641,561 shares during the period. Institutional investors own 91.31% of the company’s stock.

Wall Street Analyst Weigh In

CMG has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $67.00 price objective on shares of Chipotle Mexican Grill in a research report on Wednesday, August 14th. Piper Sandler lowered their price target on Chipotle Mexican Grill from $61.00 to $56.00 and set a “neutral” rating on the stock in a research report on Thursday, July 25th. Wedbush reissued an “outperform” rating and issued a $58.00 price objective on shares of Chipotle Mexican Grill in a research report on Thursday, August 29th. KeyCorp reduced their price objective on Chipotle Mexican Grill from $68.00 to $66.00 and set an “overweight” rating for the company in a report on Thursday, July 25th. Finally, Barclays lowered their target price on Chipotle Mexican Grill from $58.00 to $55.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 25th. Ten analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $62.36.

Insider Buying and Selling

In other Chipotle Mexican Grill news, insider Curtis E. Garner sold 17,394 shares of the stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $54.68, for a total value of $951,103.92. Following the completion of the transaction, the insider now directly owns 358,300 shares in the company, valued at $19,591,844. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.02% of the stock is currently owned by corporate insiders.

Chipotle Mexican Grill Trading Down 0.4 %

CMG stock opened at $53.32 on Thursday. The stock has a market capitalization of $73.23 billion, a P/E ratio of 56.72, a price-to-earnings-growth ratio of 2.34 and a beta of 1.24. The firm has a 50-day moving average price of $55.32 and a 200-day moving average price of $80.78. Chipotle Mexican Grill, Inc. has a 12 month low of $35.37 and a 12 month high of $69.26.

Chipotle Mexican Grill (NYSE:CMG) last issued its earnings results on Wednesday, July 24th. The restaurant operator reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.02. The firm had revenue of $2.97 billion for the quarter, compared to analyst estimates of $2.94 billion. Chipotle Mexican Grill had a net margin of 13.23% and a return on equity of 44.01%. The company’s quarterly revenue was up 18.2% on a year-over-year basis. During the same quarter last year, the business posted $12.65 earnings per share. As a group, equities analysts predict that Chipotle Mexican Grill, Inc. will post 1.08 EPS for the current fiscal year.

Chipotle Mexican Grill Profile

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.