CIBC Asset Management Inc Purchases 180,875 Shares of Chipotle Mexican Grill, Inc. (NYSE:CMG)

CIBC Asset Management Inc boosted its position in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG) by 4,677.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 184,742 shares of the restaurant operator’s stock after purchasing an additional 180,875 shares during the period. CIBC Asset Management Inc’s holdings in Chipotle Mexican Grill were worth $11,574,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the company. Evermay Wealth Management LLC increased its stake in Chipotle Mexican Grill by 1.8% during the 4th quarter. Evermay Wealth Management LLC now owns 231 shares of the restaurant operator’s stock valued at $528,000 after purchasing an additional 4 shares in the last quarter. Peloton Wealth Strategists increased its stake in Chipotle Mexican Grill by 0.3% during the 4th quarter. Peloton Wealth Strategists now owns 1,451 shares of the restaurant operator’s stock valued at $3,318,000 after purchasing an additional 4 shares in the last quarter. Diversified Trust Co increased its stake in Chipotle Mexican Grill by 0.9% during the 1st quarter. Diversified Trust Co now owns 474 shares of the restaurant operator’s stock valued at $1,378,000 after purchasing an additional 4 shares in the last quarter. Valley National Advisers Inc. increased its stake in Chipotle Mexican Grill by 9.8% during the 1st quarter. Valley National Advisers Inc. now owns 45 shares of the restaurant operator’s stock valued at $131,000 after purchasing an additional 4 shares in the last quarter. Finally, Hazlett Burt & Watson Inc. increased its stake in shares of Chipotle Mexican Grill by 19.0% in the first quarter. Hazlett Burt & Watson Inc. now owns 25 shares of the restaurant operator’s stock worth $73,000 after acquiring an additional 4 shares during the period. 91.31% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, insider Curtis E. Garner sold 17,394 shares of the stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $54.68, for a total transaction of $951,103.92. Following the completion of the sale, the insider now owns 358,300 shares in the company, valued at approximately $19,591,844. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.02% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research firms have recently weighed in on CMG. Piper Sandler cut their price objective on shares of Chipotle Mexican Grill from $61.00 to $56.00 and set a “neutral” rating on the stock in a research note on Thursday, July 25th. Oppenheimer cut their price objective on shares of Chipotle Mexican Grill from $70.00 to $65.00 and set an “outperform” rating on the stock in a research note on Thursday, July 25th. JPMorgan Chase & Co. increased their price objective on shares of Chipotle Mexican Grill from $55.00 to $60.00 and gave the stock a “neutral” rating in a research note on Monday, June 3rd. Barclays cut their price objective on shares of 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. Finally, The Goldman Sachs Group dropped their price target on shares of Chipotle Mexican Grill from $74.60 to $67.00 and set a “buy” rating on the stock in a research report on Thursday, July 25th. Ten research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $62.36.

Chipotle Mexican Grill Trading Down 4.5 %

Shares of Chipotle Mexican Grill stock opened at $53.54 on Wednesday. The company has a fifty day simple moving average of $55.57 and a 200-day simple moving average of $80.97. Chipotle Mexican Grill, Inc. has a 12-month low of $35.37 and a 12-month high of $69.26. The stock has a market cap of $73.53 billion, a price-to-earnings ratio of 56.96, a PEG ratio of 2.34 and a beta of 1.24.

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