Geode Capital Management LLC Buys 395,053 Shares of Chipotle Mexican Grill, Inc. (NYSE:CMG)

Geode Capital Management LLC grew its stake in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG) by 1.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 28,476,031 shares of the restaurant operator’s stock after buying an additional 395,053 shares during the period. Geode Capital Management LLC owned 2.09% of Chipotle Mexican Grill worth $1,712,238,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. United Bank boosted its holdings in Chipotle Mexican Grill by 13.7% in the 3rd quarter. United Bank now owns 36,851 shares of the restaurant operator’s stock valued at $2,123,000 after purchasing an additional 4,451 shares during the period. Public Sector Pension Investment Board raised its position in shares of Chipotle Mexican Grill by 16.1% in the third quarter. Public Sector Pension Investment Board now owns 59,150 shares of the restaurant operator’s stock worth $3,408,000 after buying an additional 8,200 shares in the last quarter. Edgestream Partners L.P. boosted its stake in Chipotle Mexican Grill by 161.1% during the third quarter. Edgestream Partners L.P. now owns 14,174 shares of the restaurant operator’s stock valued at $817,000 after buying an additional 8,746 shares during the period. Tradition Wealth Management LLC grew its position in Chipotle Mexican Grill by 8.2% during the third quarter. Tradition Wealth Management LLC now owns 3,702 shares of the restaurant operator’s stock worth $213,000 after buying an additional 280 shares in the last quarter. Finally, Erste Asset Management GmbH bought a new position in Chipotle Mexican Grill in the 3rd quarter worth about $980,000. 91.31% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently commented on CMG shares. Raymond James cut their price objective on Chipotle Mexican Grill from $72.00 to $69.00 and set an “outperform” rating for the company in a report on Tuesday, January 28th. Jefferies Financial Group boosted their price target on shares of Chipotle Mexican Grill from $56.00 to $62.00 and gave the stock a “hold” rating in a research note on Monday, December 16th. Loop Capital raised shares of Chipotle Mexican Grill from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $58.00 to $65.00 in a report on Friday, March 14th. Morgan Stanley raised Chipotle Mexican Grill from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $65.00 to $70.00 in a research note on Monday, March 3rd. Finally, Truist Financial lifted their price target on Chipotle Mexican Grill from $72.00 to $74.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Eight investment analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $66.67.

Chipotle Mexican Grill Stock Up 2.9 %

NYSE:CMG opened at $51.67 on Wednesday. The firm’s fifty day simple moving average is $53.58 and its 200 day simple moving average is $57.50. The stock has a market cap of $70.03 billion, a P/E ratio of 46.54, a price-to-earnings-growth ratio of 2.04 and a beta of 1.27. Chipotle Mexican Grill, Inc. has a twelve month low of $47.55 and a twelve month high of $69.26.

Chipotle Mexican Grill (NYSE:CMG) last announced its earnings results on Tuesday, February 4th. The restaurant operator reported $0.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.01. Chipotle Mexican Grill had a net margin of 13.56% and a return on equity of 42.92%. On average, analysts expect that Chipotle Mexican Grill, Inc. will post 1.29 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.