iA Global Asset Management Inc. Makes New Investment in Chipotle Mexican Grill, Inc. $CMG

iA Global Asset Management Inc. bought a new position in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 298,980 shares of the restaurant operator’s stock, valued at approximately $11,062,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wealth Watch Advisors INC bought a new stake in Chipotle Mexican Grill during the third quarter worth $25,000. Financial Life Planners bought a new stake in Chipotle Mexican Grill during the third quarter worth $25,000. Murphy & Mullick Capital Management Corp lifted its stake in Chipotle Mexican Grill by 106.7% during the third quarter. Murphy & Mullick Capital Management Corp now owns 775 shares of the restaurant operator’s stock worth $30,000 after purchasing an additional 400 shares during the last quarter. Winthrop Capital Management LLC bought a new stake in Chipotle Mexican Grill during the third quarter worth $31,000. Finally, Glass Jacobson Investment Advisors llc bought a new stake in Chipotle Mexican Grill during the third quarter worth $32,000. 91.30% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Argus raised Chipotle Mexican Grill from a “hold” rating to a “buy” rating and set a $40.00 price objective on the stock in a report on Tuesday, May 5th. Stephens raised their price objective on Chipotle Mexican Grill from $38.00 to $39.00 and gave the company an “equal weight” rating in a report on Thursday, April 30th. BNP Paribas Exane raised their price objective on Chipotle Mexican Grill from $37.00 to $39.00 and gave the company a “neutral” rating in a report on Thursday, April 30th. Piper Sandler cut their price objective on Chipotle Mexican Grill from $44.00 to $42.00 and set an “overweight” rating on the stock in a report on Thursday, April 30th. Finally, Citigroup raised their price objective on Chipotle Mexican Grill from $44.00 to $46.00 and gave the company a “buy” rating in a report on Thursday, April 30th. Twenty-four analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $46.03.

Chipotle Mexican Grill Stock Down 0.2%

NYSE CMG opened at $32.59 on Monday. Chipotle Mexican Grill, Inc. has a twelve month low of $29.75 and a twelve month high of $58.42. The company has a market cap of $41.81 billion, a price-to-earnings ratio of 29.90, a price-to-earnings-growth ratio of 2.10 and a beta of 1.03. The business’s fifty day moving average is $33.54 and its 200 day moving average is $35.32.

Chipotle Mexican Grill (NYSE:CMG) last announced its earnings results on Wednesday, April 29th. The restaurant operator reported $0.24 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.24. The business 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 period last year, the company earned $0.29 EPS. On average, research 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.