Chipotle Mexican Grill, Inc. $CMG Shares Bought by Rakuten Investment Management Inc.

Rakuten Investment Management Inc. lifted its position in Chipotle Mexican Grill, Inc. (NYSE:CMG) by 8.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 229,281 shares of the restaurant operator’s stock after purchasing an additional 17,358 shares during the quarter. Rakuten Investment Management Inc.’s holdings in Chipotle Mexican Grill were worth $7,309,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in Chipotle Mexican Grill in the 2nd quarter valued at about $4,417,475,000. Bank of America Corp DE purchased a new position in Chipotle Mexican Grill in the 2nd quarter valued at approximately $383,483,000. Legal & General Group Plc acquired a new position in Chipotle Mexican Grill during the 2nd quarter worth $265,887,000. Man Group plc acquired a new stake in Chipotle Mexican Grill in the second quarter valued at approximately $240,389,000. Finally, Bank of New York Mellon Corp purchased a new stake in shares of Chipotle Mexican Grill during the 2nd quarter worth $222,809,000. Institutional investors and hedge funds own 91.30% of the company’s stock.

Key Stories Impacting Chipotle Mexican Grill

Here are the key news stories impacting Chipotle Mexican Grill this week:

• Positive Sentiment: Chipotle is bringing back its popular smoked brisket in an effort to attract customers and lift fall traffic. The menu item could provide a near-term sales boost, though the impact is not yet known. Chipotle looks to drive traffic with the return of its popular smoked brisket
• Positive Sentiment: Chipotle recorded its third consecutive quarter of comparable-store sales growth, with revenue up 9.6% year over year in the latest quarter. Analysts also point to positive traffic trends as evidence of progress. Should Investors Buy Into the Chipotle Turnaround?
• Neutral Sentiment: Chipotle has attracted heightened investor attention, but the articles about search interest do not identify a new business development or a clear price catalyst. Investors Heavily Search Chipotle Mexican Grill, Inc. (CMG): Here is What You Need to Know
• Negative Sentiment: Rising costs and inflation are squeezing margins and weakening earnings power. Chipotle’s latest quarterly EPS of $0.27 missed the $0.29 consensus, while revenue was in line with estimates. The stock’s premium valuation adds to investor caution. Should You Buy, Sell or Hold Chipotle Stock Post Q3 Earnings?

Insider Activity

In other news, insider Matthew R. Bush sold 2,675 shares of the firm’s stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $35.75, for a total value of $95,631.25. Following the completion of the sale, the insider directly owned 21,415 shares of the company’s stock, valued at $765,586.25. This trade represents a 11.10% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.45% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Robert W. Baird reduced their price objective on shares of Chipotle Mexican Grill from $40.00 to $35.00 and set a “neutral” rating for the company in a research report on Friday, October 2nd. Piper Sandler dropped their price objective on Chipotle Mexican Grill from $42.00 to $39.00 and set an “overweight” rating on the stock in a report on Thursday, July 30th. Wells Fargo & Company cut their target price on Chipotle Mexican Grill from $45.00 to $40.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 21st. Bank of America reissued a “buy” rating and issued a $53.00 target price (up from $50.00) on shares of Chipotle Mexican Grill in a research report on Tuesday, September 1st. Finally, Raymond James Financial restated an “outperform” rating on shares of Chipotle Mexican Grill in a research note on Thursday, October 29th. Twenty-seven equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $42.36.

Chipotle Mexican Grill Stock Up 0.5%

Shares of NYSE:CMG opened at $35.38 on Friday. The company has a market cap of $44.75 billion, a P/E ratio of 33.06, a PEG ratio of 2.32 and a beta of 1.00. Chipotle Mexican Grill, Inc. has a 52 week low of $27.31 and a 52 week high of $41.42. The company has a 50-day moving average price of $32.81 and a 200 day moving average price of $34.01.

Chipotle Mexican Grill (NYSE:CMG) last announced its quarterly earnings data on Wednesday, October 28th. The restaurant operator reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.02). Chipotle Mexican Grill had a net margin of 10.83% and a return on equity of 57.05%. The business had revenue of $3.29 billion during the quarter, compared to analysts’ expectations of $3.29 billion. During the same period in the prior year, the firm posted $0.29 EPS. Chipotle Mexican Grill’s revenue for the quarter was up 9.6% compared to the same quarter last year. Analysts expect that Chipotle Mexican Grill, Inc. will post 1.10 EPS for the current year.

Chipotle Mexican Grill Profile

Chipotle Mexican Grill, Inc (NYSE: CMG) operates a chain of fast-casual restaurants focused on Mexican-inspired food. Its menu includes burritos, burrito bowls, tacos, quesadillas and salads, with options such as chicken, steak, barbacoa, carnitas, sofritas and vegetables. The company emphasizes preparing food in its restaurants from ingredients it describes as responsibly sourced, including meats raised with attention to animal welfare and produce from selected suppliers.

Founded by Steve Ells in 1993, Chipotle opened its first restaurant in Denver, Colorado.