Chipotle Mexican Grill, Inc. $CMG Shares Purchased by iA Global Asset Management Inc.

iA Global Asset Management Inc. boosted its position in Chipotle Mexican Grill, Inc. (NYSE:CMG) by 252.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,054,744 shares of the restaurant operator’s stock after buying an additional 755,764 shares during the period. iA Global Asset Management Inc.’s holdings in Chipotle Mexican Grill were worth $33,762,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of CMG. Caliber Wealth Management LLC KS raised its position in Chipotle Mexican Grill by 40.0% during the 1st quarter. Caliber Wealth Management LLC KS now owns 48,545 shares of the restaurant operator’s stock worth $1,554,000 after buying an additional 13,869 shares during the last quarter. McMillan Office Inc. boosted its holdings in shares of Chipotle Mexican Grill by 416.7% in the 1st quarter. McMillan Office Inc. now owns 1,550 shares of the restaurant operator’s stock valued at $50,000 after acquiring an additional 1,250 shares during the last quarter. Klein Pavlis & Peasley Financial Inc. increased its stake in shares of Chipotle Mexican Grill by 2.2% in the first quarter. Klein Pavlis & Peasley Financial Inc. now owns 44,130 shares of the restaurant operator’s stock worth $1,413,000 after acquiring an additional 957 shares during the period. Pinnacle Bancorp Inc. raised its holdings in shares of Chipotle Mexican Grill by 84.5% during the first quarter. Pinnacle Bancorp Inc. now owns 2,306 shares of the restaurant operator’s stock worth $74,000 after purchasing an additional 1,056 shares during the last quarter. Finally, Apollon Wealth Management LLC lifted its position in Chipotle Mexican Grill by 14.7% during the first quarter. Apollon Wealth Management LLC now owns 42,193 shares of the restaurant operator’s stock valued at $1,351,000 after purchasing an additional 5,404 shares during the period. Institutional investors and hedge funds own 91.30% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on CMG. Royal Bank Of Canada reiterated an “outperform” rating and set a $45.00 price objective on shares of Chipotle Mexican Grill in a research note on Thursday, April 30th. Weiss Ratings raised Chipotle Mexican Grill from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, June 25th. Citigroup lifted their price target on Chipotle Mexican Grill from $44.00 to $46.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. Piper Sandler decreased their price target on Chipotle Mexican Grill from $44.00 to $42.00 and set an “overweight” rating for the company in a report on Thursday, April 30th. Finally, Raymond James Financial lowered their price objective on Chipotle Mexican Grill from $43.00 to $41.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 21st. Twenty-three investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $45.10.

Chipotle Mexican Grill Stock Up 3.1%

CMG stock opened at $34.00 on Wednesday. The company’s 50-day simple moving average is $32.30 and its 200-day simple moving average is $35.08. Chipotle Mexican Grill, Inc. has a 52-week low of $28.03 and a 52-week high of $58.42. The firm has a market cap of $43.61 billion, a P/E ratio of 31.19, a PEG ratio of 2.12 and a beta of 0.99.

Chipotle Mexican Grill (NYSE:CMG) last announced its quarterly earnings results on Wednesday, April 29th. The restaurant operator reported $0.24 earnings per share for the quarter, meeting the consensus estimate of $0.24. The firm had revenue of $3.09 billion during the quarter, compared to analyst estimates of $3.07 billion. Chipotle Mexican Grill had a return on equity of 49.64% and a net margin of 11.96%.Chipotle Mexican Grill’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.29 EPS. On average, analysts anticipate that Chipotle Mexican Grill, Inc. will post 1.13 earnings per share for the current fiscal year.

About Chipotle Mexican Grill

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.